SIME DARBY BERHAD

A N N UA L R E P O R T 2018

FINANCIAL
STATEMENTS
Financial Statements
dŚĞ'ƌŽƵƉ͛Ɛ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚ
ƉƌŽǀŝĚĞƐĂĚĞĞƉĞƌƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨ
ŽƵƌƉĞƌĨŽƌŵĂŶĐĞĨŽƌ&zϮϬϭϴ͘

Page 111
Directors’ Report

Page 116
^ƚĂƚĞŵĞŶƚLJŝƌĞĐƚŽƌƐWƵƌƐƵĂŶƚdŽ^ĞĐƟŽŶϮϱϭ;ϮͿKĨ
dŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲ

Page 117
^ƚĂƚƵƚŽƌLJĞĐůĂƌĂƟŽŶWƵƌƐƵĂŶƚdŽ^ĞĐƟŽŶϮϱϭ;ϭͿKĨ
dŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲ

Page 118
Independent Auditors’ Report

Page 125
^ƚĂƚĞŵĞŶƚƐŽĨWƌŽĮƚŽƌ>ŽƐƐ

Page 126
Statements of Comprehensive Income

Page 128
^ƚĂƚĞŵĞŶƚƐŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƟŽŶ

Page 130
Statements of Changes In Equity

Page 136
Statements of Cash Flows

Page 139
Notes to the Financial Statements
DIRECTORS’
REPORT
dŚĞŝƌĞĐƚŽƌƐŚĂǀĞƉůĞĂƐƵƌĞŝŶƉƌĞƐĞŶƟŶŐƚŚĞŝƌƌĞƉŽƌƚƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞĂƵĚŝƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĨŽƌ
ƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͘

PRINCIPAL ACTIVITIES

dŚĞŽŵƉĂŶLJŝƐƉƌŝŶĐŝƉĂůůLJĂŶŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĐŽŵƉĂŶLJ͘dŚĞƌĞŚĂƐďĞĞŶŶŽƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞŝŶƚŚĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƚLJŽĨƚŚĞŽŵƉĂŶLJ
ĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘dŚĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐĂŶĚĚĞƚĂŝůƐŽĨƚŚĞƐƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϲƚŽƚŚĞ
ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

&ŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶĞƌŚĂĚĂŶĚ^ŝŵĞĂƌďLJ
WƌŽƉĞƌƚLJĞƌŚĂĚƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJŽŶϮϵEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞŽŵƉĂŶLJ͛ƐŵĂŝŶďƵƐŝŶĞƐƐĞƐĂƌĞƚƌĂĚŝŶŐ;ŝŶĚƵƐƚƌŝĂůĂŶĚ
ŵŽƚŽƌƐͿ͕ůŽŐŝƐƟĐƐĂŶĚŚĞĂůƚŚĐĂƌĞ͘

FINANCIAL RESULTS

dŚĞƌĞƐƵůƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴǁĞƌĞĂƐĨŽůůŽǁƐ͗

Group Company
RM million RM million
WƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž ϭ͕Ϭϳϰ ϭ͕ϳϭϭ
&ŝŶĂŶĐĞŝŶĐŽŵĞ ϭϬϰ ϳ
Finance costs ;ϭϭϯͿ ;ϰͿ
WƌŽĮƚďĞĨŽƌĞƚĂdž ϭ͕Ϭϲϱ ϭ͕ϳϭϰ
dĂdžĂƟŽŶ ;ϯϴϬͿ –
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ϲϴϱ ϭ͕ϳϭϰ
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭ͕ϯϳϴ –
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ Ϯ͕Ϭϲϯ ϭ͕ϳϭϰ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨ͗
Ͳ ƚŚĞŽŵƉĂŶLJ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ϲϭϴ ϭ͕ϳϭϰ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭ͕ϯϬϭ –
ϭ͕ϵϭϵ ϭ͕ϳϭϰ
- perpetual sukuk
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϱϮ –
Ͳ ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ϲϳ –
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ Ϯϱ –
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ Ϯ͕Ϭϲϯ ϭ͕ϳϭϰ

ANNUAL REPORT 2018 page 111

 DIRECTORS’ REPORT

/^dZ/hd/KEͳ/Eͳ^W/

KŶϮϬEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŚĂǀĞĂƉƉƌŽǀĞĚƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞŶƟƌĞƐŚĂƌĞŚŽůĚŝŶŐƐŝŶ^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ
ĞƌŚĂĚĂŶĚ^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJĞƌŚĂĚƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ;ĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞͿ͘dŚĞĚŝƐƚƌŝďƵƟŽŶǁĂƐĐŽŵƉůĞƚĞĚŽŶ
ϮϵEŽǀĞŵďĞƌϮϬϭϳ͘dŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞŝƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϰϳŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

DIVIDENDS

^ŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞƉƌĞǀŝŽƵƐĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞŽŵƉĂŶLJŚĂĚƉĂŝĚƚŚĞĨŽůůŽǁŝŶŐĚŝǀŝĚĞŶĚƐ͗

RM million
Ă͘ /ŶƌĞƐƉĞĐƚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϳ͕ĂĮŶĂůĚŝǀŝĚĞŶĚŽĨϭϳ͘ϬƐĞŶƉĞƌƐŚĂƌĞǁĂƐƉĂŝĚŽŶ
ϮϬĞĐĞŵďĞƌϮϬϭϳ͖ĂŶĚ ϭ͕ϭϱϲ
ď͘ /ŶƌĞƐƉĞĐƚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͕ĂŶŝŶƚĞƌŝŵĚŝǀŝĚĞŶĚŽĨϮ͘ϬƐĞŶƉĞƌƐŚĂƌĞǁĂƐƉĂŝĚŽŶ
ϰDĂLJϮϬϭϴ ϭϯϲ
ϭ͕ϮϵϮ

dŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐĚĞĐůĂƌĞĚĂƐĞĐŽŶĚŝŶƚĞƌŝŵĚŝǀŝĚĞŶĚŽĨϰƐĞŶƉĞƌŽƌĚŝŶĂƌLJƐŚĂƌĞĂŵŽƵŶƟŶŐƚŽZDϮϳϮŵŝůůŝŽŶĂŶĚĂƐƉĞĐŝĂů
ĚŝǀŝĚĞŶĚŽĨϮƐĞŶƉĞƌŽƌĚŝŶĂƌLJƐŚĂƌĞĂŵŽƵŶƟŶŐƚŽZDϭϯϲŵŝůůŝŽŶŝŶƌĞƐƉĞĐƚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͘dŚĞĚŝǀŝĚĞŶĚƐǁŝůůďĞ
ƉĂŝĚŽŶϯϭKĐƚŽďĞƌϮϬϭϴ͘

RESERVES AND PROVISIONS

ůůŵĂƚĞƌŝĂůƚƌĂŶƐĨĞƌƐƚŽŽƌĨƌŽŵƌĞƐĞƌǀĞƐĂŶĚƉƌŽǀŝƐŝŽŶƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƌĞƐŚŽǁŶŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

SHARE CAPITAL AND DEBENTURES

dŚĞƌĞǁĞƌĞŶŽŝƐƐƵĂŶĐĞŽĨƐŚĂƌĞƐĂŶĚĚĞďĞŶƚƵƌĞƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘

WZ&KZDEͳ^DW>Kz^,Z^,D

dŚĞŽŵƉĂŶLJ͛ƐWĞƌĨŽƌŵĂŶĐĞͲĂƐĞĚŵƉůŽLJĞĞ^ŚĂƌĞ^ĐŚĞŵĞ;W^^ͿŝƐŐŽǀĞƌŶĞĚďLJƚŚĞďLJͲůĂǁƐĂƉƉƌŽǀĞĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐĂƚƚŚĞ
džƚƌĂŽƌĚŝŶĂƌLJ'ĞŶĞƌĂůDĞĞƟŶŐŚĞůĚŽŶϴEŽǀĞŵďĞƌϮϬϭϮĂŶĚǁĂƐĞīĞĐƚĞĚŽŶϭϱ:ĂŶƵĂƌLJϮϬϭϯ͘hŶĚĞƌƚŚĞW^^͕ŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶƚŚĞ
ŽŵƉĂŶLJĂƌĞŐƌĂŶƚĞĚƚŽĞůŝŐŝďůĞĞŵƉůŽLJĞĞƐĂŶĚĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌƐŽĨƚŚĞ'ƌŽƵƉ͘dŚĞW^^ŝƐŝŶĨŽƌĐĞĨŽƌĂŵĂdžŝŵƵŵƉĞƌŝŽĚŽĨƚĞŶ;ϭϬͿ
LJĞĂƌƐĨƌŽŵƚŚĞĞīĞĐƟǀĞĚĂƚĞĂŶĚŝƐĂĚŵŝŶŝƐƚĞƌĞĚďLJƚŚĞEŽŵŝŶĂƟŽŶΘZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞ;EZͿ͘

dŚĞW^^ŝƐďĂƐĞĚŽŶϯͲLJĞĂƌĐůŝīǀĞƐƟŶŐĂŶĚŝƐƐƵďũĞĐƚƚŽĂĐŚŝĞǀĞŵĞŶƚŽĨĐĞƌƚĂŝŶƉĞƌĨŽƌŵĂŶĐĞŵĞƚƌŝĐƐ͘dŚĞƐĂůŝĞŶƚĨĞĂƚƵƌĞƐŽĨƚŚĞW^^
ĂŶĚƚŚĞǀĞƐƟŶŐĐŽŶĚŝƟŽŶƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϯϴƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

dŚĞŐƌĂŶƚƐƵŶĚĞƌƚŚĞW^^ĐŽŵƉƌŝƐĞƚŚĞ'ƌŽƵƉWĞƌĨŽƌŵĂŶĐĞ^ŚĂƌĞ;'W^Ϳ͕ƚŚĞŝǀŝƐŝŽŶWĞƌĨŽƌŵĂŶĐĞ^ŚĂƌĞ;W^ͿĂŶĚƚŚĞ'ĞŶĞƌĂůŵƉůŽLJĞĞ
^ŚĂƌĞ;'^Ϳ͘dŚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐŐƌĂŶƚĞĚƵŶĚĞƌƚŚĞƐĞĐŽŶĚŐƌĂŶƚŽĨƚŚĞW^^ĂŶĚƚŚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐŽƵƚƐƚĂŶĚŝŶŐĂƚƚŚĞĞŶĚŽĨƚŚĞ
ĮŶĂŶĐŝĂůLJĞĂƌĂƌĞĂƐĨŽůůŽǁƐ͗

GPS DPS GES

‘000 ‘000 ‘000
ƚϭ:ƵůLJϮϬϭϳ ϯ͕ϭϲϬ ϰ͕Ϯϱϱ ϰ͕ϯϱϲ
>ĂƉƐĞĚ ;ϯ͕ϭϲϬͿ ;ϰ͕ϮϱϱͿ ;ϰ͕ϯϱϲͿ
ƚϯϬ:ƵŶĞϮϬϭϴ – – –

page 112 SIME DARBY BERHAD

 DIRECTORS’ REPORT

WZ&KZDEͳ^DW>Kz^,Z^,DΈKEd/EhΉ

KŶϮϯƵŐƵƐƚϮϬϭϳ͕ƚŚĞƐĞĐŽŶĚŐƌĂŶƚůĂƉƐĞĚĂƐƚŚĞǀĞƐƟŶŐĐŽŶĚŝƟŽŶƐǁŚŝĐŚŝŶĐůƵĚĞƉĞƌĨŽƌŵĂŶĐĞƚĂƌŐĞƚƐǁĞƌĞŶŽƚŵĞƚ͘dŚĞƌĞǁĂƐŶŽŶĞǁ
ŐƌĂŶƚŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͘

KŶϮϵƵŐƵƐƚϮϬϭϴ͕ƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂƉƉƌŽǀĞĚĨŽƌƚŚĞ>ŽŶŐdĞƌŵ/ŶĐĞŶƟǀĞWůĂŶƚŽďĞƌĞǀŝƐĞĚ͘dŚĞƌĞǀŝƐĞĚƉůĂŶŝƐďĞŝŶŐĮŶĂůŝƐĞĚĂŶĚ
ŝƐĞdžƉĞĐƚĞĚƚŽďĞŝŵƉůĞŵĞŶƚĞĚŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚŝŶŐϯϬ:ƵŶĞϮϬϭϵ͘

DIRECTORS

dŚĞŝƌĞĐƚŽƌƐǁŚŽŚĞůĚŽĸĐĞƐŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞƉƌĞǀŝŽƵƐĮŶĂŶĐŝĂůLJĞĂƌƵƉƚŽƚŚĞĚĂƚĞŽĨƚŚĞƌĞƉŽƌƚĂƌĞĂƐĨŽůůŽǁƐ͗

dĂŶ^ƌŝĂƚŽ͛ďĚƵů'ŚĂŶŝKƚŚŵĂŶ;ŚĂŝƌŵĂŶͿ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
dĂŶ^ƌŝĂƚŽ͛^ƌŝƌtĂŶďĚƵůnjŝnjtĂŶďĚƵůůĂŚ;ƌĞĚĞƐŝŐŶĂƚĞĚĂƐŚĂŝƌŵĂŶĨƌŽŵϭĞĐĞŵďĞƌϮϬϭϳͿ
dĂŶ^ƌŝ^ĂŵƐƵĚŝŶKƐŵĂŶ
dĂŶ^ƌŝĂƚƵŬƌzƵƐŽĨĂƐŝƌĂŶ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
dĂŶ^ƌŝĂƚŽ͛^ĞƌŝDŽŚĚĂŬŬĞ^ĂůůĞŚ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
DƵŚĂŵŵĂĚ>Ƶƞŝ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚƵŬĂŝƚŽŶDŽŚĚ,ĂƐƐĂŶ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚƵŬtĂŶ^ĞůĂŵĂŚtĂŶ^ƵůĂŝŵĂŶ
ĂƚƵŬƌDŽŚĚĂƵĚĂŬĂƌ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚŽ^ƌŝ>ŝŵ,Ăǁ<ƵĂŶŐ
ĂƚŽ͛ZŽŚĂŶĂdĂŶ^ƌŝDĂŚŵŽŽĚ;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂŝŶĂůďŝĚŝŶ:ĂŵĂů;ƌĞƐŝŐŶĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
dĂŶ^ƌŝĂƚŽ͛DŽŚĂŵĞĚnjŵĂŶzĂŚLJĂ;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƟŶWĂĚƵŬĂ<ĂƌƟŶŝ,ĂũŝďĚƵůDĂŶĂĨ;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚŽ͛^ƌŝďĚƵů,ĂŵŝĚLJďĚƵů,ĂĮnj;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚŽ͛ŚŵĂĚWĂƌĚĂƐ^ĞŶŝŶ;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
dŚĂLJĂƉĂƌĂŶ^ĂŶŐĂƌĂƉŝůůĂŝ;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ
ĂƚŽ͛>ĂǁƌĞŶĐĞ>ĞĞŚĞŽǁ,ŽĐŬ;ĂƉƉŽŝŶƚĞĚŽŶϭDĂƌĐŚϮϬϭϴͿ
DŽLJWƵŝzĞĞ;ĂƉƉŽŝŶƚĞĚŽŶϮ:ƵůLJϮϬϭϴͿ
:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ;ĂƉƉŽŝŶƚĞĚŽŶϭĞĐĞŵďĞƌϮϬϭϳͿ

dŚĞŶĂŵĞƐŽĨŝƌĞĐƚŽƌƐŽĨƐƵďƐŝĚŝĂƌŝĞƐĂƌĞƐĞƚŽƵƚŝŶƚŚĞƌĞƐƉĞĐƟǀĞƐƵďƐŝĚŝĂƌŝĞƐ͛ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƌĞĂƉƉůŝĐĂďůĞ͕ĂŶĚƚŚĞƐĂŝĚ
ŝŶĨŽƌŵĂƟŽŶŝƐĚĞĞŵĞĚŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďLJƐƵĐŚƌĞĨĞƌĞŶĐĞĂŶĚŵĂĚĞĂƉĂƌƚŚĞƌĞŽĨ͘

DIRECTORS’ BENEFITS

ƵƌŝŶŐĂŶĚĂƚƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ŶŽĂƌƌĂŶŐĞŵĞŶƚƐƐƵďƐŝƐƚĞĚƚŽǁŚŝĐŚƚŚĞŽŵƉĂŶLJŝƐĂƉĂƌƚLJ͕ǁŝƚŚƚŚĞŽďũĞĐƚŽƌŽďũĞĐƚƐŽĨ
ĞŶĂďůŝŶŐŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJƚŽĂĐƋƵŝƌĞďĞŶĞĮƚƐďLJŵĞĂŶƐŽĨƚŚĞĂĐƋƵŝƐŝƟŽŶŽĨƐŚĂƌĞƐŝŶ͕ŽƌĚĞďĞŶƚƵƌĞƐŽĨ͕ƚŚĞŽŵƉĂŶLJŽƌĂŶLJŽƚŚĞƌ
ďŽĚLJĐŽƌƉŽƌĂƚĞ͘

^ŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞƉƌĞǀŝŽƵƐĮŶĂŶĐŝĂůLJĞĂƌ͕ŶŽŝƌĞĐƚŽƌŚĂƐƌĞĐĞŝǀĞĚŽƌďĞĐŽŵĞĞŶƟƚůĞĚƚŽƌĞĐĞŝǀĞĂďĞŶĞĮƚ;ŽƚŚĞƌƚŚĂŶďĞŶĞĮƚƐĚŝƐĐůŽƐĞĚ
ĂƐŝƌĞĐƚŽƌƐ͛ƌĞŵƵŶĞƌĂƟŽŶŝŶEŽƚĞϴƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐͿďLJƌĞĂƐŽŶŽĨĂĐŽŶƚƌĂĐƚŵĂĚĞďLJƚŚĞŽŵƉĂŶLJŽƌĂƌĞůĂƚĞĚĐŽƌƉŽƌĂƟŽŶ
ǁŝƚŚƚŚĞŝƌĞĐƚŽƌŽƌǁŝƚŚĂĮƌŵŽĨǁŚŝĐŚŚĞŽƌƐŚĞŝƐĂŵĞŵďĞƌ͕ŽƌǁŝƚŚĂĐŽŵƉĂŶLJŝŶǁŚŝĐŚŚĞŽƌƐŚĞŚĂƐĂƐƵďƐƚĂŶƟĂůĮŶĂŶĐŝĂůŝŶƚĞƌĞƐƚ
ĞdžĐĞƉƚĨŽƌĂŶLJďĞŶĞĮƚƐǁŚŝĐŚŵĂLJďĞĚĞĞŵĞĚƚŽŚĂǀĞĂƌŝƐĞŶĨƌŽŵƚŚĞƚƌĂŶƐĂĐƟŽŶƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϴƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

dŚĞŝƌĞĐƚŽƌƐĂŶĚŽĸĐĞƌƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂƌĞĐŽǀĞƌĞĚďLJŝƌĞĐƚŽƌƐĂŶĚKĸĐĞƌƐůŝĂďŝůŝƚLJŝŶƐƵƌĂŶĐĞĨŽƌĂŶLJůŝĂďŝůŝƚLJŝŶĐƵƌƌĞĚ
ŝŶƚŚĞĚŝƐĐŚĂƌŐĞŽĨƚŚĞŝƌĚƵƟĞƐ͕ƉƌŽǀŝĚĞĚƚŚĂƚƚŚĞLJŚĂǀĞŶŽƚĂĐƚĞĚĨƌĂƵĚƵůĞŶƚůLJŽƌĚŝƐŚŽŶĞƐƚůLJŽƌĚĞƌŝǀĞĚĂŶLJƉĞƌƐŽŶĂůƉƌŽĮƚŽƌĂĚǀĂŶƚĂŐĞ͘
dŚĞŝŶƐƵƌĂŶĐĞƉƌĞŵŝƵŵƉĂŝĚĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂŵŽƵŶƚĞĚƚŽZDϯ͘ϮŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϬ͘ϵŵŝůůŝŽŶͿ͕ǁŚŝĐŚŝŶĐůƵĚĞƐƚŚĞĂŶŶƵĂůƌĞŶĞǁĂů
ƵƉƚŽEŽǀĞŵďĞƌϮϬϭϴĂŶĚĂƌƵŶͲŽīĐŽǀĞƌĨŽƌϲLJĞĂƌƐƵƉƚŽEŽǀĞŵďĞƌϮϬϮϯ͘

ANNUAL REPORT 2018 page 113

 DIRECTORS’ REPORT

DIRECTORS’ INTERESTS IN SHARES

dŚĞŝƌĞĐƚŽƌƐŝŶŽĸĐĞĂƚƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌŚĞůĚŶŽŝŶƚĞƌĞƐƚŝŶƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJ͘

^ddhdKZz/E&KZDd/KEKEd,&/EE/>^ddDEd^

Ă͘ ĞĨŽƌĞƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJǁĞƌĞƉƌĞƉĂƌĞĚ͕ƚŚĞŝƌĞĐƚŽƌƐƚŽŽŬƌĞĂƐŽŶĂďůĞƐƚĞƉƐ͗

ŝ͘ ƚŽĂƐĐĞƌƚĂŝŶƚŚĂƚƉƌŽƉĞƌĂĐƟŽŶŚĂĚďĞĞŶƚĂŬĞŶŝŶƌĞůĂƟŽŶƚŽƚŚĞǁƌŝƟŶŐŽīŽĨďĂĚĚĞďƚƐĂŶĚƚŚĞŵĂŬŝŶŐŽĨƉƌŽǀŝƐŝŽŶĨŽƌ
ĚŽƵďƞƵůĚĞďƚƐ͕ĂŶĚƐĂƟƐĮĞĚƚŚĞŵƐĞůǀĞƐƚŚĂƚĂůůŬŶŽǁŶďĂĚĚĞďƚƐŚĂĚďĞĞŶǁƌŝƩĞŶŽīĂŶĚĂĚĞƋƵĂƚĞƉƌŽǀŝƐŝŽŶŚĂĚďĞĞŶŵĂĚĞ
ĨŽƌĚŽƵďƞƵůĚĞďƚƐ͖ĂŶĚ

ŝŝ͘ ƚŽĞŶƐƵƌĞƚŚĂƚĂŶLJĐƵƌƌĞŶƚĂƐƐĞƚƐ͕ǁŚŝĐŚǁĞƌĞƵŶůŝŬĞůLJƚŽďĞƌĞĂůŝƐĞĚŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐŝŶĐůƵĚŝŶŐƚŚĞǀĂůƵĞƐ
ŽĨĐƵƌƌĞŶƚĂƐƐĞƚƐĂƐƐŚŽǁŶŝŶƚŚĞĂĐĐŽƵŶƟŶŐƌĞĐŽƌĚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ŚĂĚďĞĞŶǁƌŝƩĞŶĚŽǁŶƚŽĂŶĂŵŽƵŶƚ
ǁŚŝĐŚƚŚĞĐƵƌƌĞŶƚĂƐƐĞƚƐŵŝŐŚƚďĞĞdžƉĞĐƚĞĚƐŽƚŽƌĞĂůŝƐĞ͘

ď͘ ƚƚŚĞĚĂƚĞŽĨƚŚŝƐZĞƉŽƌƚ͕ƚŚĞŝƌĞĐƚŽƌƐĂƌĞŶŽƚĂǁĂƌĞŽĨĂŶLJĐŝƌĐƵŵƐƚĂŶĐĞƐ͗

ŝ͘ ǁŚŝĐŚǁŽƵůĚƌĞŶĚĞƌƚŚĞĂŵŽƵŶƚǁƌŝƩĞŶŽīĨŽƌďĂĚĚĞďƚƐŽƌƚŚĞĂŵŽƵŶƚŽĨƉƌŽǀŝƐŝŽŶĨŽƌĚŽƵďƞƵůĚĞďƚƐŝŶƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJŝŶĂĚĞƋƵĂƚĞƚŽĂŶLJƐƵďƐƚĂŶƟĂůĞdžƚĞŶƚ͖Žƌ

ŝŝ͘ ǁŚŝĐŚǁŽƵůĚƌĞŶĚĞƌƚŚĞǀĂůƵĞƐĂƩƌŝďƵƚĞĚƚŽĐƵƌƌĞŶƚĂƐƐĞƚƐŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ
ŵŝƐůĞĂĚŝŶŐ͖Žƌ

ŝŝŝ͘ ǁŚŝĐŚŚĂǀĞĂƌŝƐĞŶǁŚŝĐŚǁŽƵůĚƌĞŶĚĞƌĂĚŚĞƌĞŶĐĞƚŽƚŚĞĞdžŝƐƟŶŐŵĞƚŚŽĚŽĨǀĂůƵĂƟŽŶŽĨĂƐƐĞƚƐŽƌůŝĂďŝůŝƟĞƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨ
ƚŚĞŽŵƉĂŶLJŵŝƐůĞĂĚŝŶŐŽƌŝŶĂƉƉƌŽƉƌŝĂƚĞ͘

Đ͘ ƐĂƚƚŚĞĚĂƚĞŽĨƚŚŝƐZĞƉŽƌƚ͗

ŝ͘ ƚŚĞƌĞĂƌĞŶŽĐŚĂƌŐĞƐŽŶƚŚĞĂƐƐĞƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJǁŚŝĐŚŚĂǀĞĂƌŝƐĞŶƐŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ
ǁŚŝĐŚƐĞĐƵƌĞƐƚŚĞůŝĂďŝůŝƟĞƐŽĨĂŶLJŽƚŚĞƌƉĞƌƐŽŶ͖ĂŶĚ

ŝŝ͘ ƚŚĞƌĞĂƌĞŶŽŵĂƚĞƌŝĂůĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐŝŶƚŚĞ'ƌŽƵƉĂŶĚŝŶƚŚĞŽŵƉĂŶLJǁŚŝĐŚŚĂǀĞĂƌŝƐĞŶƐŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂů
LJĞĂƌ͘

Ě͘ EŽĐŽŶƟŶŐĞŶƚŽƌŽƚŚĞƌůŝĂďŝůŝƚLJŽĨĂŶLJĐŽŵƉĂŶLJŝŶƚŚĞ'ƌŽƵƉŚĂƐďĞĐŽŵĞĞŶĨŽƌĐĞĂďůĞŽƌŝƐůŝŬĞůLJƚŽďĞĐŽŵĞĞŶĨŽƌĐĞĂďůĞǁŝƚŚŝŶƚŚĞ
ƉĞƌŝŽĚŽĨƚǁĞůǀĞŵŽŶƚŚƐĂŌĞƌƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌǁŚŝĐŚ͕ŝŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ǁŝůůŽƌŵĂLJĂīĞĐƚƚŚĞĂďŝůŝƚLJŽĨƚŚĞ
ŽŵƉĂŶLJĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐƚŽŵĞĞƚƚŚĞŝƌŽďůŝŐĂƟŽŶƐǁŚĞŶƚŚĞLJĨĂůůĚƵĞ͘

Ğ͘ ƚƚŚĞĚĂƚĞŽĨƚŚŝƐZĞƉŽƌƚ͕ƚŚĞŝƌĞĐƚŽƌƐĂƌĞŶŽƚĂǁĂƌĞŽĨĂŶLJĐŝƌĐƵŵƐƚĂŶĐĞƐŶŽƚŽƚŚĞƌǁŝƐĞĚĞĂůƚǁŝƚŚŝŶƚŚŝƐƌĞƉŽƌƚŽƌƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJǁŚŝĐŚǁŽƵůĚƌĞŶĚĞƌĂŶLJĂŵŽƵŶƚƐƚĂƚĞĚŝŶƚŚĞƌĞƐƉĞĐƟǀĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
ŵŝƐůĞĂĚŝŶŐ͘

Ĩ͘ /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͗

ŝ͘ ƚŚĞƌĞƐƵůƚƐŽĨƚŚĞŽƉĞƌĂƟŽŶƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌǁĞƌĞŶŽƚƐƵďƐƚĂŶƟĂůůLJĂīĞĐƚĞĚďLJ
ĂŶLJŝƚĞŵ͕ƚƌĂŶƐĂĐƟŽŶŽƌĞǀĞŶƚŽĨĂŵĂƚĞƌŝĂůĂŶĚƵŶƵƐƵĂůŶĂƚƵƌĞŽƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞƐϰ͕ϭϭĂŶĚϰϳŽĨƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐ͖ĂŶĚ

ŝŝ͘ ƚŚĞƌĞŚĂƐŶŽƚĂƌŝƐĞŶŝŶƚŚĞŝŶƚĞƌǀĂůďĞƚǁĞĞŶƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂŶĚƚŚĞĚĂƚĞŽĨƚŚŝƐƌĞƉŽƌƚĂŶLJŝƚĞŵ͕ƚƌĂŶƐĂĐƟŽŶ
ŽƌĞǀĞŶƚŽĨĂŵĂƚĞƌŝĂůĂŶĚƵŶƵƐƵĂůŶĂƚƵƌĞůŝŬĞůLJƚŽĂīĞĐƚƐƵďƐƚĂŶƟĂůůLJƚŚĞƌĞƐƵůƚƐŽĨƚŚĞŽƉĞƌĂƟŽŶƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞ
ŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌŝŶǁŚŝĐŚƚŚŝƐƌĞƉŽƌƚŝƐŵĂĚĞ͘

page 114 SIME DARBY BERHAD

 DIRECTORS’ REPORT

IMMEDIATE AND ULTIMATE HOLDING COMPANIES

dŚĞŝƌĞĐƚŽƌƐƌĞŐĂƌĚWĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚĂƐƚŚĞ'ƌŽƵƉ͛ƐŝŵŵĞĚŝĂƚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJĂŶĚzĂLJĂƐĂŶWĞůĂďƵƌĂŶƵŵŝƉƵƚƌĂĂƐŝƚƐ
ƵůƟŵĂƚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJ͘ŽƚŚĐŽŵƉĂŶŝĞƐĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚŝŶDĂůĂLJƐŝĂ͘

AUDITORS’ REMUNERATION

ĞƚĂŝůƐŽĨĂƵĚŝƚŽƌƐ͛ƌĞŵƵŶĞƌĂƟŽŶĂƌĞƐĞƚŽƵƚŝŶEŽƚĞϵƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

AUDITORS

dŚĞĂƵĚŝƚŽƌƐ͕WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐW>d;>>WϬϬϭϰϰϬϭͲ>Θ&ϭϭϰϲͿ͕ŚĂǀĞĞdžƉƌĞƐƐĞĚƚŚĞŝƌǁŝůůŝŶŐŶĞƐƐƚŽĂĐĐĞƉƚƌĞͲĂƉƉŽŝŶƚŵĞŶƚĂƐ
ĂƵĚŝƚŽƌƐ͘

WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐW>d;>>WϬϬϭϰϰϬϭͲ>Θ&ϭϭϰϲͿǁĂƐƌĞŐŝƐƚĞƌĞĚŽŶϮ:ĂŶƵĂƌLJϮϬϭϴĂŶĚǁŝƚŚĞīĞĐƚĨƌŽŵƚŚĂƚĚĂƚĞ͕
WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ;&ϭϭϰϲͿ͕ĂĐŽŶǀĞŶƟŽŶĂůƉĂƌƚŶĞƌƐŚŝƉǁĂƐĐŽŶǀĞƌƚĞĚƚŽĂůŝŵŝƚĞĚůŝĂďŝůŝƚLJƉĂƌƚŶĞƌƐŚŝƉ͘

dŚŝƐƌĞƉŽƌƚǁĂƐĂƉƉƌŽǀĞĚďLJƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽŶϮϱ^ĞƉƚĞŵďĞƌϮϬϭϴ͘

^ŝŐŶĞĚŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͗

TAN SRI DATO’ SRI DR WAN ABDUL AZIZ WAN ABDULLAH JEFFRI SALIM DAVIDSON
ŚĂŝƌŵĂŶ džĞĐƵƟǀĞŝƌĞĐƚŽƌͬ'ƌŽƵƉŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌ

WĞƚĂůŝŶŐ:ĂLJĂ
^ĞůĂŶŐŽƌ
Ϯϱ^ĞƉƚĞŵďĞƌϮϬϭϴ

ANNUAL REPORT 2018 page 115

 STATEMENT BY
DIRECTORS PURSUANT TO
SECTION 251(2) OF THE
COMPANIES ACT 2016
tĞ͕dĂŶ^ƌŝĂƚŽ͛^ƌŝƌtĂŶďĚƵůnjŝnjtĂŶďĚƵůůĂŚĂŶĚ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ͕ƚǁŽŽĨƚŚĞŝƌĞĐƚŽƌƐŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ͕ĚŽŚĞƌĞďLJƐƚĂƚĞ
ƚŚĂƚ͕ŝŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƐĞƚŽƵƚŽŶƉĂŐĞƐϭϮϱƚŽϯϬϭĂƌĞĚƌĂǁŶƵƉ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞDĂůĂLJƐŝĂŶ
&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐ͕/ŶƚĞƌŶĂƟŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐĂŶĚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲ͕ƐŽĂƐƚŽŐŝǀĞ
ĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁŽĨƚŚĞĮŶĂŶĐŝĂůƉŽƐŝƟŽŶŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂŶĚŽĨƚŚĞĮŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞ
'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚŽŶƚŚĂƚĚĂƚĞ͘

^ŝŐŶĞĚŽŶďĞŚĂůĨŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƌĞƐŽůƵƟŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐĚĂƚĞĚϮϱ^ĞƉƚĞŵďĞƌϮϬϭϴ͘

TAN SRI DATO’ SRI DR WAN ABDUL AZIZ WAN ABDULLAH JEFFRI SALIM DAVIDSON
ŚĂŝƌŵĂŶ džĞĐƵƟǀĞŝƌĞĐƚŽƌͬ'ƌŽƵƉŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌ

WĞƚĂůŝŶŐ:ĂLJĂ
^ĞůĂŶŐŽƌ
Ϯϱ^ĞƉƚĞŵďĞƌϮϬϭϴ

page 116 SIME DARBY BERHAD

STATUTORY DECLARATION
PURSUANT TO
SECTION 251(1) OF THE
COMPANIES ACT 2016
/͕DƵƐƚĂŵŝƌDŽŚĂŵĂĚ͕ƚŚĞŽĸĐĞƌƉƌŝŵĂƌŝůLJƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĮŶĂŶĐŝĂůŵĂŶĂŐĞŵĞŶƚŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ͕ĚŽƐŽůĞŵŶůLJĂŶĚƐŝŶĐĞƌĞůLJ
ĚĞĐůĂƌĞƚŚĂƚƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƐĞƚŽƵƚŽŶƉĂŐĞƐϭϮϱƚŽϯϬϭĂƌĞ͕ƚŽƚŚĞďĞƐƚŽĨŵLJŬŶŽǁůĞĚŐĞĂŶĚďĞůŝĞĨ͕ĐŽƌƌĞĐƚ͕ĂŶĚ/ŵĂŬĞƚŚŝƐ
ƐŽůĞŵŶĚĞĐůĂƌĂƟŽŶĐŽŶƐĐŝĞŶƟŽƵƐůLJďĞůŝĞǀŝŶŐƚŚĞƐĂŵĞƚŽďĞƚƌƵĞ͕ĂŶĚďLJǀŝƌƚƵĞŽĨƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞ^ƚĂƚƵƚŽƌLJĞĐůĂƌĂƟŽŶƐĐƚ͕ϭϵϲϬ͘

MUSTAMIR MOHAMAD
;D/EŽ͘ϭϱϯϬϮͿ
'ƌŽƵƉŚŝĞĨ&ŝŶĂŶĐŝĂůKĸĐĞƌ

^ƵďƐĐƌŝďĞĚĂŶĚƐŽůĞŵŶůLJĚĞĐůĂƌĞĚďLJƚŚĞĂďŽǀĞŶĂŵĞĚDƵƐƚĂŵŝƌDŽŚĂŵĂĚ͕ĂƚWĞƚĂůŝŶŐ:ĂLJĂ͕^ĞůĂŶŐŽƌ͕DĂůĂLJƐŝĂŽŶϮϱ^ĞƉƚĞŵďĞƌϮϬϭϴ͘

ĞĨŽƌĞŵĞ͕

SHAHRUDIN BIN ESA

ŽŵŵŝƐƐŝŽŶĞƌĨŽƌKĂƚŚƐ;EŽ͘ϱϮϬͿ
ŚƐ ;EŽ ϱϮϬͿ
WĞƚĂůŝŶŐ:ĂLJĂ
^ĞůĂŶŐŽƌ

ANNUAL REPORT 2018 page 117

 INDEPENDENT
AUDITORS’ REPORT
TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia)
(Company No. 752404 U)

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS

Our opinion

/ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ;͞ƚŚĞŽŵƉĂŶLJ͟ͿĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ;͞ƚŚĞ'ƌŽƵƉ͟ͿŐŝǀĞĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁ
ŽĨƚŚĞĮŶĂŶĐŝĂůƉŽƐŝƟŽŶŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ĂŶĚŽĨƚŚĞŝƌĮŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞĂŶĚƚŚĞŝƌĐĂƐŚŇŽǁƐĨŽƌ
ƚŚĞĮŶĂŶĐŝĂůLJĞĂƌƚŚĞŶĞŶĚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚDĂůĂLJƐŝĂŶ&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐ͕/ŶƚĞƌŶĂƟŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐĂŶĚ
ƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲŝŶDĂůĂLJƐŝĂ͘

tŚĂƚǁĞŚĂǀĞĂƵĚŝƚĞĚ

tĞŚĂǀĞĂƵĚŝƚĞĚƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ǁŚŝĐŚĐŽŵƉƌŝƐĞƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶĂƐĂƚ
ϯϬ:ƵŶĞϮϬϭϴŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ĂŶĚƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨƉƌŽĮƚŽƌůŽƐƐ͕ƐƚĂƚĞŵĞŶƚƐŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͕ƐƚĂƚĞŵĞŶƚƐ
ŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚLJĂŶĚƐƚĂƚĞŵĞŶƚƐŽĨĐĂƐŚŇŽǁƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌƚŚĞŶĞŶĚĞĚ͕ĂŶĚŶŽƚĞƐƚŽƚŚĞ
ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐĂƐƵŵŵĂƌLJŽĨƐŝŐŶŝĮĐĂŶƚĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐ͕ĂƐƐĞƚŽƵƚŽŶƉĂŐĞƐϭϮϱƚŽϯϬϭ͘

ĂƐŝƐĨŽƌŽƉŝŶŝŽŶ

tĞĐŽŶĚƵĐƚĞĚŽƵƌĂƵĚŝƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƉƉƌŽǀĞĚƐƚĂŶĚĂƌĚƐŽŶĂƵĚŝƟŶŐŝŶDĂůĂLJƐŝĂĂŶĚ/ŶƚĞƌŶĂƟŽŶĂů^ƚĂŶĚĂƌĚƐŽŶƵĚŝƟŶŐ͘KƵƌ
ƌĞƐƉŽŶƐŝďŝůŝƟĞƐƵŶĚĞƌƚŚŽƐĞƐƚĂŶĚĂƌĚƐĂƌĞĨƵƌƚŚĞƌĚĞƐĐƌŝďĞĚŝŶƚŚĞ͞ƵĚŝƚŽƌƐ͛ƌĞƐƉŽŶƐŝďŝůŝƟĞƐĨŽƌƚŚĞĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͟
ƐĞĐƟŽŶŽĨŽƵƌƌĞƉŽƌƚ͘

tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝƐƐƵĸĐŝĞŶƚĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌŽƉŝŶŝŽŶ͘

/ŶĚĞƉĞŶĚĞŶĐĞĂŶĚŽƚŚĞƌĞƚŚŝĐĂůƌĞƐƉŽŶƐŝďŝůŝƟĞƐ

tĞĂƌĞŝŶĚĞƉĞŶĚĞŶƚŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞLJͲ>ĂǁƐ;ŽŶWƌŽĨĞƐƐŝŽŶĂůƚŚŝĐƐ͕ŽŶĚƵĐƚĂŶĚWƌĂĐƟĐĞͿŽĨƚŚĞ
DĂůĂLJƐŝĂŶ/ŶƐƟƚƵƚĞŽĨĐĐŽƵŶƚĂŶƚƐ;͞LJͲ>ĂǁƐ͟ͿĂŶĚƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůƚŚŝĐƐ^ƚĂŶĚĂƌĚƐŽĂƌĚĨŽƌĐĐŽƵŶƚĂŶƚƐ͛ŽĚĞŽĨƚŚŝĐƐĨŽƌWƌŽĨĞƐƐŝŽŶĂů
ĐĐŽƵŶƚĂŶƚƐ;͞/^ŽĚĞ͟Ϳ͕ĂŶĚǁĞŚĂǀĞĨƵůĮůůĞĚŽƵƌŽƚŚĞƌĞƚŚŝĐĂůƌĞƐƉŽŶƐŝďŝůŝƟĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞLJͲ>ĂǁƐĂŶĚƚŚĞ/^ŽĚĞ͘

page 118 SIME DARBY BERHAD

 INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)

ZWKZdKEd,h/dK&d,&/EE/>^ddDEd^ΈKEd/EhΉ

KƵƌĂƵĚŝƚĂƉƉƌŽĂĐŚ

ƐƉĂƌƚŽĨĚĞƐŝŐŶŝŶŐŽƵƌĂƵĚŝƚ͕ǁĞĚĞƚĞƌŵŝŶĞĚŵĂƚĞƌŝĂůŝƚLJĂŶĚĂƐƐĞƐƐĞĚƚŚĞƌŝƐŬƐŽĨŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨ
ƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJ͘/ŶƉĂƌƟĐƵůĂƌ͕ǁĞĐŽŶƐŝĚĞƌĞĚǁŚĞƌĞƚŚĞĚŝƌĞĐƚŽƌƐŵĂĚĞƐƵďũĞĐƟǀĞũƵĚŐĞŵĞŶƚƐ͖ĨŽƌĞdžĂŵƉůĞ͕ŝŶƌĞƐƉĞĐƚŽĨ
ƐŝŐŶŝĮĐĂŶƚĂĐĐŽƵŶƟŶŐĞƐƟŵĂƚĞƐƚŚĂƚŝŶǀŽůǀĞĚŵĂŬŝŶŐĂƐƐƵŵƉƟŽŶƐĂŶĚĐŽŶƐŝĚĞƌŝŶŐĨƵƚƵƌĞĞǀĞŶƚƐƚŚĂƚĂƌĞŝŶŚĞƌĞŶƚůLJƵŶĐĞƌƚĂŝŶ͘ƐŝŶĂůů
ŽĨŽƵƌĂƵĚŝƚƐ͕ǁĞĂůƐŽĂĚĚƌĞƐƐĞĚƚŚĞƌŝƐŬŽĨŵĂŶĂŐĞŵĞŶƚŽǀĞƌƌŝĚĞŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐ͕ŝŶĐůƵĚŝŶŐĂŵŽŶŐŽƚŚĞƌŵĂƩĞƌƐ͕ĐŽŶƐŝĚĞƌĂƟŽŶŽĨ
ǁŚĞƚŚĞƌƚŚĞƌĞǁĂƐĞǀŝĚĞŶĐĞŽĨďŝĂƐƚŚĂƚƌĞƉƌĞƐĞŶƚĞĚĂƌŝƐŬŽĨŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚĚƵĞƚŽĨƌĂƵĚ͘

tĞƚĂŝůŽƌĞĚƚŚĞƐĐŽƉĞŽĨŽƵƌĂƵĚŝƚŝŶŽƌĚĞƌƚŽƉĞƌĨŽƌŵƐƵĸĐŝĞŶƚǁŽƌŬƚŽĞŶĂďůĞƵƐƚŽƉƌŽǀŝĚĞĂŶŽƉŝŶŝŽŶŽŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐ
ĂǁŚŽůĞ͕ƚĂŬŝŶŐŝŶƚŽĂĐĐŽƵŶƚƚŚĞƐƚƌƵĐƚƵƌĞŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ƚŚĞĂĐĐŽƵŶƟŶŐƉƌŽĐĞƐƐĞƐĂŶĚĐŽŶƚƌŽůƐ͕ĂŶĚƚŚĞŝŶĚƵƐƚƌLJŝŶ
ǁŚŝĐŚƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJŽƉĞƌĂƚĞ͘

<ĞLJĂƵĚŝƚŵĂƩĞƌƐ

<ĞLJĂƵĚŝƚŵĂƩĞƌƐĂƌĞƚŚŽƐĞŵĂƩĞƌƐƚŚĂƚ͕ŝŶŽƵƌƉƌŽĨĞƐƐŝŽŶĂůũƵĚŐĞŵĞŶƚ͕ǁĞƌĞŽĨŵŽƐƚƐŝŐŶŝĮĐĂŶĐĞŝŶŽƵƌĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
ŽĨƚŚĞ'ƌŽƵƉĨŽƌƚŚĞĐƵƌƌĞŶƚĮŶĂŶĐŝĂůLJĞĂƌ͘dŚĞƐĞŵĂƩĞƌƐǁĞƌĞĂĚĚƌĞƐƐĞĚŝŶƚŚĞĐŽŶƚĞdžƚŽĨŽƵƌĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ
'ƌŽƵƉĂƐĂǁŚŽůĞ͕ĂŶĚŝŶĨŽƌŵŝŶŐŽƵƌŽƉŝŶŝŽŶƚŚĞƌĞŽŶ͕ĂŶĚǁĞĚŽŶŽƚƉƌŽǀŝĚĞĂƐĞƉĂƌĂƚĞŽƉŝŶŝŽŶŽŶƚŚĞƐĞŵĂƩĞƌƐ͘

dŚĞƌĞŝƐŶŽŬĞLJĂƵĚŝƚŵĂƩĞƌĨŽƌƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘dŚĞŬĞLJĂƵĚŝƚŵĂƩĞƌƐĨŽƌƚŚĞ'ƌŽƵƉĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƌĞĂƐ
ĚĞƐĐƌŝďĞĚŝŶƚŚĞƚĂďůĞďĞůŽǁ͗

<ĞLJĂƵĚŝƚŵĂƩĞƌƐ ,ŽǁŽƵƌĂƵĚŝƚĂĚĚƌĞƐƐĞĚƚŚĞŬĞLJĂƵĚŝƚŵĂƩĞƌƐ
ZĞĐŽǀĞƌĂďŝůŝƚLJŽĨĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶƚŚĞ
/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ

/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƌĞĐŽŐŶŝƐĞĚŽŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƟŽŶ
ŽĨƚŚĞ'ƌŽƵƉŝŶĐůƵĚĞĚƵĐLJƌƵƐĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐĂŶĚŐŽŽĚǁŝůůŽĨ
ZDϲϴϱŵŝůůŝŽŶĂŶĚZDϰϬŵŝůůŝŽŶƌĞƐƉĞĐƟǀĞůLJ͕ǁŚŝĐŚĂƌĞĂůůŽĐĂƚĞĚ
ƚŽƚŚĞ/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ͘
tĞĞǀĂůƵĂƚĞĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨƚŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐƵƐĞĚ
ďLJŵĂŶĂŐĞŵĞŶƚŝŶƚŚĞĂƉƉƌŽǀĞĚĐĂƐŚŇŽǁƉƌŽũĞĐƟŽŶƐďLJ
ĐŽŵƉĂƌŝŶŐƚŚĞƌĞǀĞŶƵĞŐƌŽǁƚŚƌĂƚĞ͕ĞĂƌŶŝŶŐƐďĞĨŽƌĞŝŶƚĞƌĞƐƚ͕
ƚĂdž͕ĚĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ;͞/d͟ͿŐƌŽǁƚŚƌĂƚĞĂŶĚ
ƚĞƌŵŝŶĂůŐƌŽǁƚŚƌĂƚĞƚŽŚŝƐƚŽƌŝĐĂůƌĞƐƵůƚƐĂŶĚŝŶĚƵƐƚƌLJĚĂƚĂǁŚĞƌĞ
ĂƉƉƌŽƉƌŝĂƚĞ͘

ANNUAL REPORT 2018 page 119

 INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)

ZWKZdKEd,h/dK&d,&/EE/>^ddDEd^ΈKEd/EhΉ

<ĞLJĂƵĚŝƚŵĂƩĞƌƐ;ĐŽŶƟŶƵĞĚͿ

<ĞLJĂƵĚŝƚŵĂƩĞƌƐ ,ŽǁŽƵƌĂƵĚŝƚĂĚĚƌĞƐƐĞĚƚŚĞŬĞLJĂƵĚŝƚŵĂƩĞƌƐ
ZĞĐŽǀĞƌĂďŝůŝƚLJŽĨĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶƚŚĞ
/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ;ĐŽŶƟŶƵĞĚͿ

tĞĨŽĐƵƐĞĚŽŶƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨ
ƵĐLJƌƵƐŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚŝŶƚŚĞ/ŶĚƵƐƚƌŝĂůƐĞŐŵĞŶƚĚƵĞƚŽƚŚĞ
ƐŝŐŶŝĮĐĂŶƚĞƐƟŵĂƚĞƐŝŶǀŽůǀĞĚŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐ
ƵƐĞĚŝŶĚĞƌŝǀŝŶŐƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚƐŽĨƚŚĞĐĂƐŚͲŐĞŶĞƌĂƟŶŐ
ƵŶŝƚƐ;͞'hƐ͟Ϳ͕ŝ͘Ğ͘ƌĞǀĞŶƵĞŐƌŽǁƚŚ͕/dŐƌŽǁƚŚƌĂƚĞ͕ƚĞƌŵŝŶĂů
ŐƌŽǁƚŚƌĂƚĞĂŶĚĚŝƐĐŽƵŶƚƌĂƚĞ͘
tĞĂƐƐĞƐƐĞĚƚŚĞƌĞůŝĂďŝůŝƚLJŽĨŵĂŶĂŐĞŵĞŶƚ͛ƐĨŽƌĞĐĂƐƚďLJ
ĐŽŵƉĂƌŝŶŐƚŚĞŝƌƉƌĞǀŝŽƵƐLJĞĂƌƐ͛ĨŽƌĞĐĂƐƚĞĚƌĞƐƵůƚƐĂŐĂŝŶƐƚƉĂƐƚ
ƚƌĞŶĚƐŽĨĂĐƚƵĂůƌĞƐƵůƚƐ͘
tĞŝŶǀŽůǀĞĚŽƵƌǀĂůƵĂƟŽŶĞdžƉĞƌƚƐƚŽĂƐƐĞƐƐƚŚĞĚŝƐĐŽƵŶƚƌĂƚĞƵƐĞĚ
ŝŶĚĞƚĞƌŵŝŶŝŶŐƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚƐŽĨƚŚĞ'hƐ͘

DĂŶĂŐĞŵĞŶƚƉĞƌĨŽƌŵĞĚŝŵƉĂŝƌŵĞŶƚĂƐƐĞƐƐŵĞŶƚƐŽĨƚŚĞ'hƐ tĞĐŚĞĐŬĞĚƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨƐĞŶƐŝƟǀŝƚLJĂŶĂůLJƐŝƐƉĞƌĨŽƌŵĞĚ
ďĂƐĞĚŽŶƚŚĞǀĂůƵĞͲŝŶͲƵƐĞĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞĚŝƐĐŽƵŶƚĞĚĐĂƐŚ ďLJŵĂŶĂŐĞŵĞŶƚ͕ŝŶĐůƵĚŝŶŐƚŚĞĚŝƐĐůŽƐƵƌĞƐ͕ŽŶĂƌĞĂƐŽŶĂďůĞ
ŇŽǁƉƌŽũĞĐƟŽŶƐďĂƐĞĚŽŶƚŚĞďƵĚŐĞƚĂƉƉƌŽǀĞĚďLJƚŚĞŝƌĞĐƚŽƌƐŽĨ ƉŽƐƐŝďůĞĐŚĂŶŐĞŝŶƚŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐĂŶĚƚŚĞĐŽƌƌĞƐƉŽŶĚŝŶŐ
ƚŚĞ'ƌŽƵƉ͘ ĞīĞĐƚŽŶƚŚĞƌĞƐƉĞĐƟǀĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚƐ͘

DĂŶĂŐĞŵĞŶƚŚĂƐƵƉĚĂƚĞĚƚŚĞĐĂƐŚŇŽǁƉƌŽũĞĐƟŽŶƐďLJĐŽŵƉĂƌŝŶŐ ĂƐĞĚŽŶƚŚĞĂďŽǀĞƉƌŽĐĞĚƵƌĞƐƉĞƌĨŽƌŵĞĚ͕ǁĞĚŝĚŶŽƚŶŽƚĞĂŶLJ
ŝƚƚŽĂĐƚƵĂůŚŝƐƚŽƌŝĐĂůƌĞƐƵůƚƐ͕ĐƵƌƌĞŶƚĂǀĂŝůĂďůĞŝŶĨŽƌŵĂƟŽŶƐƵĐŚ ĞdžĐĞƉƟŽŶƐƚŽƚŚĞŝƌĞĐƚŽƌƐ͛ĂƐƐĞƐƐŵĞŶƚŽŶƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨ
ĂƐƚŚĞŽƵƚĐŽŵĞŽĨƚĞŶĚĞƌƉƌŽĐĞƐƐĞƐ͕ƐĞĐƵƌĞĚĐŽŶƚƌĂĐƚƐŽƌůĂƚĞƐƚ ĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶƚŚĞ/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶ
ĂǀĂŝůĂďůĞŵĂƌŬĞƚŝŶĨŽƌŵĂƟŽŶ͘ ƵƐƚƌĂůĂƐŝĂĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͘

ĂƐĞĚŽŶŵĂŶĂŐĞŵĞŶƚ͛ƐĂƐƐĞƐƐŵĞŶƚ͕ƚŚĞŝƌĞĐƚŽƌƐĂƌĞŽĨƚŚĞ
ŽƉŝŶŝŽŶƚŚĂƚƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐŝƐ
ƌĞĐŽǀĞƌĂďůĞ͘

ZĞĨĞƌƚŽEŽƚĞƐϰ;ĂͿĂŶĚϮϳƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

page 120 SIME DARBY BERHAD


ZWKZdKEd,h/dK&d,&/EE/>^ddDEd^ΈKEd/EhΉ
<ĞLJĂƵĚŝƚŵĂƩĞƌƐ;ĐŽŶƟŶƵĞĚͿ
<ĞLJĂƵĚŝƚŵĂƩĞƌƐ
ZĞĐŽǀĞƌĂďŝůŝƚLJŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶĂŶĂƐƐŽĐŝĂƚĞ͕
ĂƐƚĞƌŶΘKƌŝĞŶƚĂůĞƌŚĂĚ;͞ΘK͟Ϳ
dŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶΘKĂƐĂƚ
ϯϬ:ƵŶĞϮϬϭϴĂŵŽƵŶƚĞĚƚŽZDϮϰϬŵŝůůŝŽŶ͘
dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨƚŚĞŝŶǀĞƐƚŵĞŶƚŝŶΘKǁĂƐƚŚĞŚŝŐŚĞƌ
ŽĨŝƚƐǀĂůƵĞͲŝŶͲƵƐĞǁŚŝĐŚǁĂƐĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚ
ŵŽĚĞůĂŶĚŝƚƐĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůůǁŚŝĐŚǁĂƐĚĞƚĞƌŵŝŶĞĚ
ƵƐŝŶŐƚŚĞŵĂƌŬĞƚƉƌŝĐĞŽĨƚŚĞΘKƐŚĂƌĞƐĂƐůŝƐƚĞĚŽŶƵƌƐĂ
DĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚ;͞ƵƌƐĂ͟ͿǁĞďƐŝƚĞŽŶϮϵ:ƵŶĞϮϬϭϴ͕
ƚŚĞůĂƐƚƚƌĂĚŝŶŐĚĂLJƉƌŝŽƌƚŽƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͘
tĞĨŽĐƵƐĞĚŽŶƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶ
ΘKĚƵĞƚŽƚŚĞŬĞLJĂƐƐƵŵƉƟŽŶƵƐĞĚŝŶĚĞƌŝǀŝŶŐƚŚĞǀĂůƵĞͲŝŶͲƵƐĞ
ŽĨƚŚĞŝŶǀĞƐƚŵĞŶƚ͕ŝ͘Ğ͘ƚŚĂƚƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚǁŝůůƌĞŵĂŝŶĂƚƚŚĞ
ƐĂŵĞƋƵĂŶƚƵŵĂƐƚŚĞĂǀĞƌĂŐĞĚŝǀŝĚĞŶĚĚĞĐůĂƌĞĚďLJΘKĨŽƌƚŚĞ
ƉĂƐƚϱLJĞĂƌƐĨƌŽŵϮϬϭϰƚŽϮϬϭϴĂŶĚĚŝƐĐŽƵŶƚƌĂƚĞ͘
ĂƐĞĚŽŶŵĂŶĂŐĞŵĞŶƚ͛ƐĂƐƐĞƐƐŵĞŶƚ͕ĂŶŝŵƉĂŝƌŵĞŶƚůŽƐƐŽĨ
ZDϭϬϯŵŝůůŝŽŶǁĂƐƌĞĐŽŐŶŝƐĞĚŽŶƚŚĞ'ƌŽƵƉ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶΘK
ƵƐŝŶŐŝƚƐĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůů͕ĂƐƐƚĂƚĞĚŝŶEŽƚĞϭϯƚŽƚŚĞ
ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
ZĞĨĞƌƚŽEŽƚĞƐϰ;ĐͿĂŶĚϭϯƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
ANNUAL REPORT 2018
INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)
,ŽǁŽƵƌĂƵĚŝƚĂĚĚƌĞƐƐĞĚƚŚĞŬĞLJĂƵĚŝƚŵĂƩĞƌƐ
tĞĞǀĂůƵĂƚĞĚƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨƵƐŝŶŐƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚ
ŵŽĚĞůƚŽĚĞƚĞƌŵŝŶĞƚŚĞǀĂůƵĞŝŶƵƐĞĨŽƌƚŚĞŝŶǀĞƐƚŵĞŶƚ͘tĞ
ĞǀĂůƵĂƚĞĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨƚŚĞŬĞLJĂƐƐƵŵƉƟŽŶƵƐĞĚďLJ
ŵĂŶĂŐĞŵĞŶƚŝŶƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚŵŽĚĞůďLJĐŽŵƉĂƌŝŶŐƚŚĞ
ĂǀĞƌĂŐĞĚŝǀŝĚĞŶĚƵƐĞĚŝŶƚŚĞŵŽĚĞůƚŽƚŚĞŚŝƐƚŽƌŝĐĂůĚŝǀŝĚĞŶĚƐ
ĚĞĐůĂƌĞĚĂŶĚƉĂŝĚďLJΘKĨƌŽŵϮϬϭϰƚŽϮϬϭϴ͘
tĞĐŚĞĐŬĞĚƚŚĞĐŽƐƚŽĨĞƋƵŝƚLJ͕ǁŚŝĐŚŝƐƚŚĞĚŝƐĐŽƵŶƚƌĂƚĞƵƐĞĚŝŶ
ƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚŵŽĚĞů͕ƚŽĂǀĂŝůĂďůĞŵĂƌŬĞƚĚĂƚĂ͘
tĞĐŚĞĐŬĞĚƚŚĞĐůŽƐŝŶŐƐŚĂƌĞƉƌŝĐĞŽĨΘKĂƐĂƚϮϵ:ƵŶĞϮϬϭϴ
ƚŽƚŚĞƵƌƐĂǁĞďƐŝƚĞ͘tĞĐŚĞĐŬĞĚŵĂƚŚĞŵĂƟĐĂůĂĐĐƵƌĂĐLJŽĨ
ŵĂŶĂŐĞŵĞŶƚ͛ƐĐĂůĐƵůĂƟŽŶŽĨƚŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞΘKƐŚĂƌĞƐ͘
ĂƐĞĚŽŶƚŚĞĂďŽǀĞƉƌŽĐĞĚƵƌĞƐƉĞƌĨŽƌŵĞĚ͕ǁĞĚŝĚŶŽƚŶŽƚĞĂŶLJ
ĞdžĐĞƉƟŽŶƐƚŽƚŚĞŝƌĞĐƚŽƌƐ͛ĂƐƐĞƐƐŵĞŶƚŽŶƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨ
ƚŚĞ'ƌŽƵƉ͛ƐĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨŝƚƐŝŶǀĞƐƚŵĞŶƚŝŶΘKĂƐĂƚ
ϯϬ:ƵŶĞϮϬϭϴ͘
page 121
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TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)

ZWKZdKEd,h/dK&d,&/EE/>^ddDEd^ΈKEd/EhΉ

/ŶĨŽƌŵĂƟŽŶŽƚŚĞƌƚŚĂŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚƚŚĞƌĞŽŶ

dŚĞŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶ͘dŚĞŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶĐŽŵƉƌŝƐĞƐƚŚĞŝƌĞĐƚŽƌƐ͛ZĞƉŽƌƚ͕^ƚĂƚĞŵĞŶƚ
ŽŶZŝƐŬDĂŶĂŐĞŵĞŶƚĂŶĚ/ŶƚĞƌŶĂůŽŶƚƌŽůƐ͕ŚĂŝƌŵĂŶ͛Ɛ^ƚĂƚĞŵĞŶƚŽŶŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞ͕ŽĂƌĚŽĨŝƌĞĐƚŽƌƐ͕'ƌŽƵƉDĂŶĂŐĞŵĞŶƚ
ŽŵŵŝƩĞĞ͕'ŽǀĞƌŶĂŶĐĞΘƵĚŝƚŽŵŵŝƩĞĞZĞƉŽƌƚ͕EŽŵŝŶĂƟŽŶΘZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞZĞƉŽƌƚ͕ZŝƐŬDĂŶĂŐĞŵĞŶƚŽŵŵŝƩĞĞZĞƉŽƌƚ͕
ƌĞĂƟŶŐ^ƵƐƚĂŝŶĂďůĞsĂůƵĞƐĞĐƟŽŶ͕ŶƚĞƌƉƌŝƐĞZŝƐŬDĂŶĂŐĞŵĞŶƚ͕ĂŶĚ^ƚĂƚĞŵĞŶƚŽĨŝƌĞĐƚŽƌƐ͛ZĞƐƉŽŶƐŝďŝůŝƚLJ͕ǁŚŝĐŚǁĞŽďƚĂŝŶĞĚƉƌŝŽƌƚŽ
ƚŚĞĚĂƚĞŽĨƚŚŝƐĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚ͕ĂŶĚƚŚĞƌĞƐƚŽĨƚŚĞŶŶƵĂůZĞƉŽƌƚϮϬϭϴŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ͕ǁŚŝĐŚŝƐĞdžƉĞĐƚĞĚƚŽďĞŵĂĚĞĂǀĂŝůĂďůĞƚŽ
ƵƐĂŌĞƌƚŚĂƚĚĂƚĞ͘KƚŚĞƌŝŶĨŽƌŵĂƟŽŶĚŽĞƐŶŽƚŝŶĐůƵĚĞƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂŶĚŽƵƌĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚ
ƚŚĞƌĞŽŶ͘

KƵƌŽƉŝŶŝŽŶŽŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚĐŽǀĞƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶĂŶĚǁĞĚŽŶŽƚĞdžƉƌĞƐƐĂŶLJ
ĨŽƌŵŽĨĂƐƐƵƌĂŶĐĞĐŽŶĐůƵƐŝŽŶƚŚĞƌĞŽŶ͘

/ŶĐŽŶŶĞĐƟŽŶǁŝƚŚŽƵƌĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ŽƵƌƌĞƐƉŽŶƐŝďŝůŝƚLJŝƐƚŽƌĞĂĚƚŚĞŽƚŚĞƌ
ŝŶĨŽƌŵĂƟŽŶĂŶĚ͕ŝŶĚŽŝŶŐƐŽ͕ĐŽŶƐŝĚĞƌǁŚĞƚŚĞƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶŝƐŵĂƚĞƌŝĂůůLJŝŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉ
ĂŶĚŽĨƚŚĞŽŵƉĂŶLJŽƌŽƵƌŬŶŽǁůĞĚŐĞŽďƚĂŝŶĞĚŝŶƚŚĞĂƵĚŝƚŽƌŽƚŚĞƌǁŝƐĞĂƉƉĞĂƌƐƚŽďĞŵĂƚĞƌŝĂůůLJŵŝƐƐƚĂƚĞĚ͘

/Ĩ͕ďĂƐĞĚŽŶƚŚĞǁŽƌŬǁĞŚĂǀĞƉĞƌĨŽƌŵĞĚŽŶƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶƚŚĂƚǁĞŽďƚĂŝŶĞĚƉƌŝŽƌƚŽƚŚĞĚĂƚĞŽĨƚŚŝƐĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚ͕ǁĞĐŽŶĐůƵĚĞ
ƚŚĂƚƚŚĞƌĞŝƐĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚŝƐŽƚŚĞƌŝŶĨŽƌŵĂƟŽŶ͕ǁĞĂƌĞƌĞƋƵŝƌĞĚƚŽƌĞƉŽƌƚƚŚĂƚĨĂĐƚ͘tĞŚĂǀĞŶŽƚŚŝŶŐƚŽƌĞƉŽƌƚŝŶƚŚŝƐƌĞŐĂƌĚ͘

ZĞƐƉŽŶƐŝďŝůŝƟĞƐŽĨƚŚĞŝƌĞĐƚŽƌƐĨŽƌƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ

dŚĞŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞƉƌĞƉĂƌĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJƚŚĂƚŐŝǀĞ
ĂƚƌƵĞĂŶĚĨĂŝƌǀŝĞǁŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚDĂůĂLJƐŝĂŶ&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐ͕/ŶƚĞƌŶĂƟŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐĂŶĚƚŚĞ
ƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲŝŶDĂůĂLJƐŝĂ͘dŚĞŝƌĞĐƚŽƌƐĂƌĞĂůƐŽƌĞƐƉŽŶƐŝďůĞĨŽƌƐƵĐŚŝŶƚĞƌŶĂůĐŽŶƚƌŽůĂƐƚŚĞŝƌĞĐƚŽƌƐĚĞƚĞƌŵŝŶĞ
ŝƐŶĞĐĞƐƐĂƌLJƚŽĞŶĂďůĞƚŚĞƉƌĞƉĂƌĂƟŽŶŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJƚŚĂƚĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͕
ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͘

/ŶƉƌĞƉĂƌŝŶŐƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ƚŚĞŝƌĞĐƚŽƌƐĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌĂƐƐĞƐƐŝŶŐƚŚĞ'ƌŽƵƉ͛ƐĂŶĚƚŚĞ
ŽŵƉĂŶLJ͛ƐĂďŝůŝƚLJƚŽĐŽŶƟŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͕ĚŝƐĐůŽƐŝŶŐ͕ĂƐĂƉƉůŝĐĂďůĞ͕ŵĂƩĞƌƐƌĞůĂƚĞĚƚŽŐŽŝŶŐĐŽŶĐĞƌŶĂŶĚƵƐŝŶŐƚŚĞŐŽŝŶŐĐŽŶĐĞƌŶ
ďĂƐŝƐŽĨĂĐĐŽƵŶƟŶŐƵŶůĞƐƐƚŚĞŝƌĞĐƚŽƌƐĞŝƚŚĞƌŝŶƚĞŶĚƚŽůŝƋƵŝĚĂƚĞƚŚĞ'ƌŽƵƉŽƌƚŚĞŽŵƉĂŶLJŽƌƚŽĐĞĂƐĞŽƉĞƌĂƟŽŶƐ͕ŽƌŚĂǀĞŶŽƌĞĂůŝƐƟĐ
ĂůƚĞƌŶĂƟǀĞďƵƚƚŽĚŽƐŽ͘

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TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)

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ƵĚŝƚŽƌƐ͛ƌĞƐƉŽŶƐŝďŝůŝƟĞƐĨŽƌƚŚĞĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ

KƵƌŽďũĞĐƟǀĞƐĂƌĞƚŽŽďƚĂŝŶƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĂďŽƵƚǁŚĞƚŚĞƌƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂƐĂǁŚŽůĞ
ĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͕ĂŶĚƚŽŝƐƐƵĞĂŶĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚƚŚĂƚŝŶĐůƵĚĞƐŽƵƌŽƉŝŶŝŽŶ͘ZĞĂƐŽŶĂďůĞ
ĂƐƐƵƌĂŶĐĞŝƐĂŚŝŐŚůĞǀĞůŽĨĂƐƐƵƌĂŶĐĞ͕ďƵƚŝƐŶŽƚĂŐƵĂƌĂŶƚĞĞƚŚĂƚĂŶĂƵĚŝƚĐŽŶĚƵĐƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƉƉƌŽǀĞĚƐƚĂŶĚĂƌĚƐŽŶĂƵĚŝƟŶŐŝŶ
DĂůĂLJƐŝĂĂŶĚ/ŶƚĞƌŶĂƟŽŶĂů^ƚĂŶĚĂƌĚƐŽŶƵĚŝƟŶŐǁŝůůĂůǁĂLJƐĚĞƚĞĐƚĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚǁŚĞŶŝƚĞdžŝƐƚƐ͘DŝƐƐƚĂƚĞŵĞŶƚƐĐĂŶĂƌŝƐĞĨƌŽŵ
ĨƌĂƵĚŽƌĞƌƌŽƌĂŶĚĂƌĞĐŽŶƐŝĚĞƌĞĚŵĂƚĞƌŝĂůŝĨ͕ŝŶĚŝǀŝĚƵĂůůLJŽƌŝŶƚŚĞĂŐŐƌĞŐĂƚĞ͕ƚŚĞLJĐŽƵůĚƌĞĂƐŽŶĂďůLJďĞĞdžƉĞĐƚĞĚƚŽŝŶŇƵĞŶĐĞƚŚĞĞĐŽŶŽŵŝĐ
ĚĞĐŝƐŝŽŶƐŽĨƵƐĞƌƐƚĂŬĞŶŽŶƚŚĞďĂƐŝƐŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ƐƉĂƌƚŽĨĂŶĂƵĚŝƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƉƉƌŽǀĞĚƐƚĂŶĚĂƌĚƐŽŶĂƵĚŝƟŶŐŝŶDĂůĂLJƐŝĂĂŶĚ/ŶƚĞƌŶĂƟŽŶĂů^ƚĂŶĚĂƌĚƐŽŶƵĚŝƟŶŐ͕ǁĞĞdžĞƌĐŝƐĞ
ƉƌŽĨĞƐƐŝŽŶĂůũƵĚŐĞŵĞŶƚĂŶĚŵĂŝŶƚĂŝŶƉƌŽĨĞƐƐŝŽŶĂůƐĐĞƉƟĐŝƐŵƚŚƌŽƵŐŚŽƵƚƚŚĞĂƵĚŝƚ͘tĞĂůƐŽ͗

;ĂͿ /ĚĞŶƟĨLJĂŶĚĂƐƐĞƐƐƚŚĞƌŝƐŬƐŽĨŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ǁŚĞƚŚĞƌĚƵĞ
ƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͕ĚĞƐŝŐŶĂŶĚƉĞƌĨŽƌŵĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƌĞƐƉŽŶƐŝǀĞƚŽƚŚŽƐĞƌŝƐŬƐ͕ĂŶĚŽďƚĂŝŶĂƵĚŝƚĞǀŝĚĞŶĐĞƚŚĂƚŝƐƐƵĸĐŝĞŶƚĂŶĚ
ĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌŽƉŝŶŝŽŶ͘dŚĞƌŝƐŬŽĨŶŽƚĚĞƚĞĐƟŶŐĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚƌĞƐƵůƟŶŐĨƌŽŵĨƌĂƵĚŝƐŚŝŐŚĞƌƚŚĂŶ
ĨŽƌŽŶĞƌĞƐƵůƟŶŐĨƌŽŵĞƌƌŽƌ͕ĂƐĨƌĂƵĚŵĂLJŝŶǀŽůǀĞĐŽůůƵƐŝŽŶ͕ĨŽƌŐĞƌLJ͕ŝŶƚĞŶƟŽŶĂůŽŵŝƐƐŝŽŶƐ͕ŵŝƐƌĞƉƌĞƐĞŶƚĂƟŽŶƐ͕ŽƌƚŚĞŽǀĞƌƌŝĚĞŽĨ
ŝŶƚĞƌŶĂůĐŽŶƚƌŽů͘

;ďͿ KďƚĂŝŶĂŶƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƌĞůĞǀĂŶƚƚŽƚŚĞĂƵĚŝƚŝŶŽƌĚĞƌƚŽĚĞƐŝŐŶĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƚŚĂƚĂƌĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚŚĞ
ĐŝƌĐƵŵƐƚĂŶĐĞƐ͕ďƵƚŶŽƚĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĞdžƉƌĞƐƐŝŶŐĂŶŽƉŝŶŝŽŶŽŶƚŚĞĞīĞĐƟǀĞŶĞƐƐŽĨƚŚĞ'ƌŽƵƉ͛ƐĂŶĚƚŚĞŽŵƉĂŶLJ͛ƐŝŶƚĞƌŶĂů
ĐŽŶƚƌŽů͘

;ĐͿ ǀĂůƵĂƚĞƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐƵƐĞĚĂŶĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨĂĐĐŽƵŶƟŶŐĞƐƟŵĂƚĞƐĂŶĚƌĞůĂƚĞĚĚŝƐĐůŽƐƵƌĞƐ
ŵĂĚĞďLJƚŚĞĚŝƌĞĐƚŽƌƐ͘

;ĚͿ ŽŶĐůƵĚĞŽŶƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨƚŚĞĚŝƌĞĐƚŽƌƐ͛ƵƐĞŽĨƚŚĞŐŽŝŶŐĐŽŶĐĞƌŶďĂƐŝƐŽĨĂĐĐŽƵŶƟŶŐĂŶĚ͕ďĂƐĞĚŽŶƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞ
ŽďƚĂŝŶĞĚ͕ǁŚĞƚŚĞƌĂŵĂƚĞƌŝĂůƵŶĐĞƌƚĂŝŶƚLJĞdžŝƐƚƐƌĞůĂƚĞĚƚŽĞǀĞŶƚƐŽƌĐŽŶĚŝƟŽŶƐƚŚĂƚŵĂLJĐĂƐƚƐŝŐŶŝĮĐĂŶƚĚŽƵďƚŽŶƚŚĞ'ƌŽƵƉ͛ƐŽƌƚŚĞ
ŽŵƉĂŶLJ͛ƐĂďŝůŝƚLJƚŽĐŽŶƟŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͘/ĨǁĞĐŽŶĐůƵĚĞƚŚĂƚĂŵĂƚĞƌŝĂůƵŶĐĞƌƚĂŝŶƚLJĞdžŝƐƚƐ͕ǁĞĂƌĞƌĞƋƵŝƌĞĚƚŽĚƌĂǁĂƩĞŶƟŽŶ
ŝŶŽƵƌĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚƚŽƚŚĞƌĞůĂƚĞĚĚŝƐĐůŽƐƵƌĞƐŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJŽƌ͕ŝĨƐƵĐŚĚŝƐĐůŽƐƵƌĞƐ
ĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŽŵŽĚŝĨLJŽƵƌŽƉŝŶŝŽŶ͘KƵƌĐŽŶĐůƵƐŝŽŶƐĂƌĞďĂƐĞĚŽŶƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞŽďƚĂŝŶĞĚƵƉƚŽƚŚĞĚĂƚĞŽĨŽƵƌĂƵĚŝƚŽƌƐ͛
ƌĞƉŽƌƚ͘,ŽǁĞǀĞƌ͕ĨƵƚƵƌĞĞǀĞŶƚƐŽƌĐŽŶĚŝƟŽŶƐŵĂLJĐĂƵƐĞƚŚĞ'ƌŽƵƉŽƌƚŚĞŽŵƉĂŶLJƚŽĐĞĂƐĞƚŽĐŽŶƟŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͘

;ĞͿ ǀĂůƵĂƚĞƚŚĞŽǀĞƌĂůůƉƌĞƐĞŶƚĂƟŽŶ͕ƐƚƌƵĐƚƵƌĞĂŶĚĐŽŶƚĞŶƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͕ŝŶĐůƵĚŝŶŐƚŚĞ
ĚŝƐĐůŽƐƵƌĞƐ͕ĂŶĚǁŚĞƚŚĞƌƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJƌĞƉƌĞƐĞŶƚƚŚĞƵŶĚĞƌůLJŝŶŐƚƌĂŶƐĂĐƟŽŶƐĂŶĚĞǀĞŶƚƐ
ŝŶĂŵĂŶŶĞƌƚŚĂƚĂĐŚŝĞǀĞƐĨĂŝƌƉƌĞƐĞŶƚĂƟŽŶ͘

;ĨͿ KďƚĂŝŶƐƵĸĐŝĞŶƚĂƉƉƌŽƉƌŝĂƚĞĂƵĚŝƚĞǀŝĚĞŶĐĞƌĞŐĂƌĚŝŶŐƚŚĞĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶŽĨƚŚĞĞŶƟƟĞƐŽƌďƵƐŝŶĞƐƐĂĐƟǀŝƟĞƐǁŝƚŚŝŶƚŚĞ'ƌŽƵƉ
ƚŽĞdžƉƌĞƐƐĂŶŽƉŝŶŝŽŶŽŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉ͘tĞĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĚŝƌĞĐƟŽŶ͕ƐƵƉĞƌǀŝƐŝŽŶĂŶĚƉĞƌĨŽƌŵĂŶĐĞŽĨ
ƚŚĞŐƌŽƵƉĂƵĚŝƚ͘tĞƌĞŵĂŝŶƐŽůĞůLJƌĞƐƉŽŶƐŝďůĞĨŽƌŽƵƌĂƵĚŝƚŽƉŝŶŝŽŶ͘

ANNUAL REPORT 2018 page 123

 INDEPENDENT AUDITORS’ REPORT
TO THE MEMBERS OF SIME DARBY BERHAD
(Incorporated in Malaysia) (Company No. 752404 U)

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ƵĚŝƚŽƌƐ͛ƌĞƐƉŽŶƐŝďŝůŝƟĞƐĨŽƌƚŚĞĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ;ĐŽŶƟŶƵĞĚͿ

tĞĐŽŵŵƵŶŝĐĂƚĞǁŝƚŚƚŚĞŝƌĞĐƚŽƌƐƌĞŐĂƌĚŝŶŐ͕ĂŵŽŶŐŽƚŚĞƌŵĂƩĞƌƐ͕ƚŚĞƉůĂŶŶĞĚƐĐŽƉĞĂŶĚƟŵŝŶŐŽĨƚŚĞĂƵĚŝƚĂŶĚƐŝŐŶŝĮĐĂŶƚĂƵĚŝƚ
ĮŶĚŝŶŐƐ͕ŝŶĐůƵĚŝŶŐĂŶLJƐŝŐŶŝĮĐĂŶƚĚĞĮĐŝĞŶĐŝĞƐŝŶŝŶƚĞƌŶĂůĐŽŶƚƌŽůƚŚĂƚǁĞŝĚĞŶƟĨLJĚƵƌŝŶŐŽƵƌĂƵĚŝƚ͘

tĞĂůƐŽƉƌŽǀŝĚĞƚŚĞŝƌĞĐƚŽƌƐǁŝƚŚĂƐƚĂƚĞŵĞŶƚƚŚĂƚǁĞŚĂǀĞĐŽŵƉůŝĞĚǁŝƚŚƌĞůĞǀĂŶƚĞƚŚŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐƌĞŐĂƌĚŝŶŐŝŶĚĞƉĞŶĚĞŶĐĞ͕ĂŶĚ
ƚŽĐŽŵŵƵŶŝĐĂƚĞǁŝƚŚƚŚĞŵĂůůƌĞůĂƟŽŶƐŚŝƉƐĂŶĚŽƚŚĞƌŵĂƩĞƌƐƚŚĂƚŵĂLJƌĞĂƐŽŶĂďůLJďĞƚŚŽƵŐŚƚƚŽďĞĂƌŽŶŽƵƌŝŶĚĞƉĞŶĚĞŶĐĞ͕ĂŶĚǁŚĞƌĞ
ĂƉƉůŝĐĂďůĞ͕ƌĞůĂƚĞĚƐĂĨĞŐƵĂƌĚƐ͘

&ƌŽŵƚŚĞŵĂƩĞƌƐĐŽŵŵƵŶŝĐĂƚĞĚǁŝƚŚƚŚĞŝƌĞĐƚŽƌƐ͕ǁĞĚĞƚĞƌŵŝŶĞƚŚŽƐĞŵĂƩĞƌƐƚŚĂƚǁĞƌĞŽĨŵŽƐƚƐŝŐŶŝĮĐĂŶĐĞŝŶƚŚĞĂƵĚŝƚŽĨƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĐƵƌƌĞŶƚLJĞĂƌĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞƚŚĞŬĞLJĂƵĚŝƚŵĂƩĞƌƐ͘tĞĚĞƐĐƌŝďĞƚŚĞƐĞŵĂƩĞƌƐŝŶ
ŽƵƌĂƵĚŝƚŽƌƐ͛ƌĞƉŽƌƚƵŶůĞƐƐůĂǁŽƌƌĞŐƵůĂƟŽŶƉƌĞĐůƵĚĞƐƉƵďůŝĐĚŝƐĐůŽƐƵƌĞĂďŽƵƚƚŚĞŵĂƩĞƌŽƌǁŚĞŶ͕ŝŶĞdžƚƌĞŵĞůLJƌĂƌĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͕ǁĞ
ĚĞƚĞƌŵŝŶĞƚŚĂƚĂŵĂƩĞƌƐŚŽƵůĚŶŽƚďĞĐŽŵŵƵŶŝĐĂƚĞĚŝŶŽƵƌƌĞƉŽƌƚďĞĐĂƵƐĞƚŚĞĂĚǀĞƌƐĞĐŽŶƐĞƋƵĞŶĐĞƐŽĨĚŽŝŶŐƐŽǁŽƵůĚƌĞĂƐŽŶĂďůLJďĞ
ĞdžƉĞĐƚĞĚƚŽŽƵƚǁĞŝŐŚƚŚĞƉƵďůŝĐŝŶƚĞƌĞƐƚďĞŶĞĮƚƐŽĨƐƵĐŚĐŽŵŵƵŶŝĐĂƟŽŶ͘

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/ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲŝŶDĂůĂLJƐŝĂ͕ǁĞƌĞƉŽƌƚƚŚĂƚƚŚĞƐƵďƐŝĚŝĂƌŝĞƐŽĨǁŚŝĐŚǁĞŚĂǀĞŶŽƚĂĐƚĞĚĂƐ
ĂƵĚŝƚŽƌƐ͕ĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϲƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

OTHER MATTERS

dŚŝƐƌĞƉŽƌƚŝƐŵĂĚĞƐŽůĞůLJƚŽƚŚĞŵĞŵďĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͕ĂƐĂďŽĚLJ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ^ĞĐƟŽŶϮϲϲŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲŝŶ
DĂůĂLJƐŝĂĂŶĚĨŽƌŶŽŽƚŚĞƌƉƵƌƉŽƐĞ͘tĞĚŽŶŽƚĂƐƐƵŵĞƌĞƐƉŽŶƐŝďŝůŝƚLJƚŽĂŶLJŽƚŚĞƌƉĞƌƐŽŶĨŽƌƚŚĞĐŽŶƚĞŶƚŽĨƚŚŝƐƌĞƉŽƌƚ͘

PRICEWATERHOUSECOOPERS PLT PAULINE HO

>>WϬϬϭϰϰϬϭͲ>Θ&ϭϭϰϲ ϬϮϲϴϰͬϭϭͬϮϬϭϵ:
ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚ

<ƵĂůĂ>ƵŵƉƵƌ
Ϯϱ^ĞƉƚĞŵďĞƌϮϬϭϴ

page 124 SIME DARBY BERHAD

STATEMENTS OF
PROFIT OR LOSS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
Revenue 6 33,828 ϯϭ͕Ϭϴϳ 1,764 ϭ͕ϰϬϬ
KƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐ 7 (33,063) ;ϯϬ͕ϲϭϰͿ (24) ;ϱϳͿ
KƚŚĞƌŽƉĞƌĂƟŶŐŝŶĐŽŵĞ 10 305 ϯϭϯ 2 ϭ
KƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ 11 32 ;ϰϴͿ (31) –
KƉĞƌĂƟŶŐƉƌŽĮƚ 1,102 ϳϯϴ 1,711 ϭ͕ϯϰϰ
^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ 12 59 ϰϳ – –
^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨĂƐƐŽĐŝĂƚĞƐ 13 (87) ;ϭͿ – –
WƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž 1,074 ϳϴϰ 1,711 ϭ͕ϯϰϰ
&ŝŶĂŶĐĞŝŶĐŽŵĞ 14 104 ϱϭϮ 7 ϮϲϮ
Finance costs 15 (113) ;ϮϴϵͿ (4) ;ϭϱϭͿ
WƌŽĮƚďĞĨŽƌĞƚĂdž 1,065 ϭ͕ϬϬϳ 1,714 ϭ͕ϰϱϱ
dĂdžĂƟŽŶ 16 (380) ;ϮϭϮͿ – ϭ
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 685 ϳϵϱ 1,714 ϭ͕ϰϱϲ
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 17 1,378 ϭ͕ϴϴϲ – –
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 2,063 Ϯ͕ϲϴϭ 1,714 ϭ͕ϰϱϲ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨ͗
Ͳ ƚŚĞŽŵƉĂŶLJ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 618 ϲϭϱ 1,714 ϭ͕ϯϯϰ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 1,301 ϭ͕ϴϮϯ – –
1,919 Ϯ͕ϰϯϴ 1,714 ϭ͕ϯϯϰ
- perpetual sukuk
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ – ϭϮϮ – ϭϮϮ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 52 Ϯ – –
Ͳ ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 67 ϱϴ – –
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 25 ϲϭ – –
2,063 Ϯ͕ϲϴϭ 1,714 ϭ͕ϰϱϲ

ĂƐŝĐĞĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͗ 18 Sen ^ĞŶ

Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 9.1 ϵ͘ϯ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 19.1 Ϯϳ͘ϰ
28.2 ϯϲ͘ϳ

ŽŵƉĂƌĂƟǀĞƐŚĂǀĞďĞĞŶƌĞƐƚĂƚĞĚĨŽůůŽǁŝŶŐƚŚĞƌĞĐůĂƐƐŝĮĐĂƟŽŶŽĨĐĞƌƚĂŝŶŝƚĞŵƐĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϯ͘

dŚĞŶŽƚĞƐŽŶƉĂŐĞƐϭϯϵƚŽϯϬϭĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ANNUAL REPORT 2018 page 125

 STATEMENTS OF
COMPREHENSIVE
INCOME
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 2,063 Ϯ͕ϲϴϭ 1,714 ϭ͕ϰϱϲ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ͗

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
/ƚĞŵƐƚŚĂƚŵĂLJďĞƌĞĐůĂƐƐŝĮĞĚƐƵďƐĞƋƵĞŶƚůLJƚŽƉƌŽĮƚŽƌůŽƐƐ
ƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ (760) ϯϭϬ – –
EĞƚĐŚĂŶŐĞŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐ 26 ;ϭϮͿ – –
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ
ĂŶĚĂƐƐŽĐŝĂƚĞƐ (43) ϯϬ – –
dĂdžĂƟŽŶ (8) Ϯ – –
(785) ϯϯϬ – –
ZĞĐůĂƐƐŝĮĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͗
Ͳ ĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐŽŶ͗
Ͳ ƌĞƉĂLJŵĞŶƚŽĨŶĞƚŝŶǀĞƐƚŵĞŶƚƐ (23) ϭϵ – –
Ͳ ĚŝƐƉŽƐĂůŽĨĂƐƵďƐŝĚŝĂƌLJ – ϱ – –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐĂƐĂĚũƵƐƚŵĞŶƚƚŽ
ƌĞǀĞŶƵĞĂŶĚŽƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ (8) ϭϵ – –
ZĞĐůĂƐƐŝĮĐĂƟŽŶŽĨĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐ
to inventories (2) ϳ – –
dĂdžĂƟŽŶ 4 ;ϲͿ – –
(814) ϯϳϰ – –
/ƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĮĞĚƐƵďƐĞƋƵĞŶƚůLJƚŽƉƌŽĮƚŽƌůŽƐƐ
ĐƚƵĂƌŝĂůŐĂŝŶͬ;ůŽƐƐͿŽŶĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐ 6 ;ϯͿ – –
6 ;ϯͿ – –

KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ (808) ϯϳϭ – –

ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚ
ŽƉĞƌĂƟŽŶƐ 17 (228) ϰϬϲ – –
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ 20 (1,036) ϳϳϳ – –
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,027 ϯ͕ϰϱϴ 1,714 ϭ͕ϰϱϲ

page 126 SIME DARBY BERHAD

 STATEMENTS OF COMPREHENSIVE INCOME
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
2018 2017 2018 2017
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƩƌŝďƵƚĂďůĞƚŽ
ŽǁŶĞƌƐŽĨ͗
Ͳ ƚŚĞŽŵƉĂŶLJ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ (140) ϵϱϳ 1,714 ϭ͕ϯϯϰ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 1,088 Ϯ͕ϮϬϵ – –
948 ϯ͕ϭϲϲ 1,714 ϭ͕ϯϯϰ
- perpetual sukuk
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ – ϭϮϮ – ϭϮϮ
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 52 Ϯ – –
Ͳ ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ
Ͳ ĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 17 ϴϳ – –
Ͳ ĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 10 ϴϭ – –
1,027 ϯ͕ϰϱϴ 1,714 ϭ͕ϰϱϲ

dŚĞŶŽƚĞƐŽŶƉĂŐĞƐϭϯϵƚŽϯϬϭĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ANNUAL REPORT 2018 page 127

 STATEMENTS OF
FINANCIAL POSITION
AS AT 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
NON-CURRENT ASSETS
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 21 5,773 ϱ͕ϲϮϰ – –
WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ 22 300 ϯϱϵ – –
/ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ 23 289 ϯϭϳ – –
^ƵďƐŝĚŝĂƌŝĞƐ 24 – – 3,590 ϯ͕ϲϮϭ
ŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ 25 – – – ϳϬϬ
:ŽŝŶƚǀĞŶƚƵƌĞƐ 12 1,197 ϭ͕ϭϯϭ – –
Associates 13 518 ϲϱϮ – –
/ŶǀĞƐƚŵĞŶƚƐ 26 124 ϭϬϬ – –
/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ 27 1,415 ϭ͕ϲϴϰ – –
ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐ 28 519 ϲϭϭ – –
dĂdžƌĞĐŽǀĞƌĂďůĞ 29 63 ϭϲϬ – –
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ 30 – ϰϰ – –
ZĞĐĞŝǀĂďůĞƐĂŶĚŽƚŚĞƌĂƐƐĞƚƐ 31 214 ϭϳϭ – –
10,412 ϭϬ͕ϴϱϯ 3,590 ϰ͕ϯϮϭ

CURRENT ASSETS
Inventories 32 7,210 ϳ͕ϭϬϯ – –
ZĞĐĞŝǀĂďůĞƐ 31 4,536 ϯ͕ϴϰϳ 4 –
ŽŶƚƌĂĐƚĂƐƐĞƚƐ 33 47 ϯϵ – –
ŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ 25 – – 6,034 ϴ͕ϵϱϱ
WƌĞƉĂLJŵĞŶƚƐ 34 527 ϰϲϲ – –
dĂdžƌĞĐŽǀĞƌĂďůĞ 29 63 ϲϳ – –
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ 30 66 ϵϳ – –
ĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚ 35 1,672 Ϯ͕ϬϳϮ 163 ϮϬϬ
14,121 ϭϯ͕ϲϵϭ 6,201 ϵ͕ϭϱϱ
ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ 36 340 ϰϯ͕ϭϯϲ – ϰ͕ϱϬϱ
TOTAL ASSETS 24,873 ϲϳ͕ϲϴϬ 9,791 ϭϳ͕ϵϴϭ

ŽŵƉĂƌĂƟǀĞƐŚĂǀĞďĞĞŶƌĞƐƚĂƚĞĚĨŽůůŽǁŝŶŐƚŚĞƌĞĐůĂƐƐŝĮĐĂƟŽŶŽĨĐĞƌƚĂŝŶŝƚĞŵƐĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϯ͘

page 128 ^/DZzZ,

 STATEMENTS OF FINANCIAL POSITION
AS AT 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
Yh/dz
^ŚĂƌĞĐĂƉŝƚĂů 37 9,299 ϵ͕Ϯϵϵ 9,299 ϵ͕Ϯϵϵ
ZĞƐĞƌǀĞƐ 39 341 ϭ͕ϯϰϴ – –
ZĞƚĂŝŶĞĚƉƌŽĮƚƐ 4,730 Ϯϲ͕ϲϵϲ 486 ϳ͕ϵϲϱ
ddZ/hd>dKKtEZ^K&d,KDWEz 14,370 ϯϳ͕ϯϰϯ 9,785 ϭϳ͕Ϯϲϰ
WĞƌƉĞƚƵĂůƐƵŬƵŬ 40 – Ϯ͕ϮϯϬ – –
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ 41 389 ϵϳϲ – –
dKd>Yh/dz 14,759 ϰϬ͕ϱϰϵ 9,785 ϭϳ͕Ϯϲϰ

NON-CURRENT LIABILITIES
ŽƌƌŽǁŝŶŐƐ 42 247 ϭ͕Ϯϱϭ – ϳϬϬ
ŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐ 33 126 ϭϬϰ – –
WƌŽǀŝƐŝŽŶƐ 43 17 ϯϳ – –
WĂLJĂďůĞƐ 45 54 ϴϬ – –
'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ 44 153 ϭϴϳ – –
ĞĨĞƌƌĞĚƚĂdžůŝĂďŝůŝƟĞƐ 28 286 ϯϯϴ – –
ĞƌŝǀĂƟǀĞůŝĂďŝůŝƟĞƐ 30 2 – – –
885 ϭ͕ϵϵϳ – ϳϬϬ

CURRENT LIABILITIES
WĂLJĂďůĞƐ 45 4,760 ϰ͕Ϯϲϴ 6 ϭϲ
ŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐ 33 1,315 ϭ͕ϭϭϱ – –
ŽƌƌŽǁŝŶŐƐ 42 2,642 ϭ͕ϵϱϰ – ϭ
WƌŽǀŝƐŝŽŶƐ 43 356 ϯϳϰ – –
dĂdžƉĂLJĂďůĞ 89 ϭϮϮ – –
ĞƌŝǀĂƟǀĞůŝĂďŝůŝƟĞƐ 30 24 ϭϭ – –
9,186 ϳ͕ϴϰϰ 6 ϭϳ
>ŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ 36 43 ϭϳ͕ϮϵϬ – –
TOTAL LIABILITIES 10,114 Ϯϳ͕ϭϯϭ 6 ϳϭϳ
dKd>Yh/dzE>//>/d/^ 24,873 ϲϳ͕ϲϴϬ 9,791 ϭϳ͕ϵϴϭ

ŽŵƉĂƌĂƟǀĞƐŚĂǀĞďĞĞŶƌĞƐƚĂƚĞĚĨŽůůŽǁŝŶŐƚŚĞƌĞĐůĂƐƐŝĮĐĂƟŽŶŽĨĐĞƌƚĂŝŶŝƚĞŵƐĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϯ͘

dŚĞŶŽƚĞƐŽŶƉĂŐĞƐϭϯϵƚŽϯϬϭĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ANNUAL REPORT 2018 page 129

 STATEMENTS OF
CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Group ^ŚĂƌĞ
2018 Note ĐĂƉŝƚĂů
ƚϭ:ƵůLJϮϬϭϳ 9,299

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ –
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 20 –
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ –
dƌĂŶƐĨĞƌďĞƚǁĞĞŶƌĞƐĞƌǀĞƐ –
^ŚĂƌĞŽĨĐĂƉŝƚĂůƌĞƐĞƌǀĞŽĨĂŶĂƐƐŽĐŝĂƚĞ –
dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐ͗
Ͳ ŝƐƐƵĞŽĨƐŚĂƌĞƐŝŶĂƐƵďƐŝĚŝĂƌLJ –
Ͳ ĚŝǀŝĚĞŶĚƐƉĂŝĚďLJǁĂLJŽĨĐĂƐŚ 19 –
Ͳ ĚŝƐƚƌŝďƵƟŽŶ –
ZĞĐůĂƐƐŝĮĐĂƟŽŶƵƉŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨƐƵďƐŝĚŝĂƌŝĞƐϭ –
ŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞϮ –
ĞƌĞĐŽŐŶŝƟŽŶĂƌŝƐŝŶŐĨƌŽŵĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨƐƵďƐŝĚŝĂƌŝĞƐ ϯ
–
ƚϯϬ:ƵŶĞϮϬϭϴ 9,299

ϭ
 ZĞĐůĂƐƐŝĮĐĂƟŽŶŽĨƚŚĞĐĂƉŝƚĂůĂŶĚůĞŐĂůƌĞƐĞƌǀĞƐŽĨƚŚĞ^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶĞƌŚĂĚ;^WůĂŶƚĂƟŽŶͿŐƌŽƵƉŽĨĐŽŵƉĂŶŝĞƐƚŽƌĞƚĂŝŶĞĚ
ƉƌŽĮƚƐĨŽůůŽǁŝŶŐƚŚĞĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJĞƌŚĂĚ;^WƌŽƉĞƌƚLJͿ
Ϯ
 dŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞƌĞůĂƚĞƐƚŽƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨƚŚĞ'ƌŽƵƉ͛ƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƚŽƚŚĞ
ƐŚĂƌĞŚŽůĚĞƌƐŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ
ϯ
 dŚĞƉĞƌƉĞƚƵĂůƐƵŬƵŬĂŶĚŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJǁĞƌĞĚĞƌĞĐŽŐŶŝƐĞĚƵƉŽŶƚŚĞĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨ
^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJ
ϰ
 ŶĂŶĂůLJƐŝƐŽĨƚŚĞŵŽǀĞŵĞŶƚƐŝŶĞĂĐŚĐĂƚĞŐŽƌLJǁŝƚŚŝŶƌĞƐĞƌǀĞƐŝƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϯϵ

page 130 ^/DZzZ,

 STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

ƩƌŝďƵƚĂďůĞ
ƚŽŽǁŶĞƌƐ Non-
Retained ŽĨƚŚĞ Perpetual ĐŽŶƚƌŽůůŝŶŐ Total
ZĞƐĞƌǀĞƐ 4
ƉƌŽĮƚƐ Company ƐƵŬƵŬ ŝŶƚĞƌĞƐƚƐ Equity
1,348 26,696 37,343 2,230 976 40,549

– 1,919 1,919 52 92 2,063

(977) 6 (971) – (65) (1,036)
(977) 1,925 948 52 27 1,027
13 (13) – – – –
(4) – (4) – – (4)

– – – – 5 5
– (1,292) (1,292) – (76) (1,368)
– – – (63) – (63)
(39) 39 – – – –
– (22,625) (22,625) – – (22,625)
– – – (2,219) (543) (2,762)
341 4,730 14,370 – 389 14,759

ANNUAL REPORT 2018 page 131

 STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group ^ŚĂƌĞ
2017 Note ĐĂƉŝƚĂů
ƚϭ:ƵůLJϮϬϭϲ ϯ͕ϭϲϰ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ –
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 20 –
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ –
dƌĂŶƐĨĞƌďĞƚǁĞĞŶƌĞƐĞƌǀĞƐ –
dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐ͗
Ͳ ĂĐƋƵŝƐŝƟŽŶŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ –
Ͳ ƐŚĂƌĞƉůĂĐĞŵĞŶƚ ϭϱϴ
Ͳ ŝƐƐƵĞŽĨƐŚĂƌĞƐŝŶĂƐƵďƐŝĚŝĂƌLJ –
Ͳ ĚŝǀŝĚĞŶĚƐƉĂŝĚďLJǁĂLJŽĨ͗ 19
Ͳ ŝƐƐƵĂŶĐĞŽĨƐŚĂƌĞƐƉƵƌƐƵĂŶƚƚŽƚŚĞŝǀŝĚĞŶĚZĞŝŶǀĞƐƚŵĞŶƚWůĂŶ ϳϴ
- cash –
Ͳ ĚŝƐƚƌŝďƵƟŽŶ –
^ŚĂƌĞŝƐƐƵĞĞdžƉĞŶƐĞƐ –
dƌĂŶƐĨĞƌĨƌŽŵƐŚĂƌĞƉƌĞŵŝƵŵ 37 ϱ͕ϴϵϵ
ƚϯϬ:ƵŶĞϮϬϭϳ ϵ͕Ϯϵϵ

ϭ
 ŶĂŶĂůLJƐŝƐŽĨƚŚĞŵŽǀĞŵĞŶƚƐŝŶĞĂĐŚĐĂƚĞŐŽƌLJǁŝƚŚŝŶƌĞƐĞƌǀĞƐŝƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϯϵ

page 132 SIME DARBY BERHAD

 STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

ƩƌŝďƵƚĂďůĞ
ƚŽŽǁŶĞƌƐ Non-
^ŚĂƌĞ Retained ŽĨƚŚĞ Perpetual ĐŽŶƚƌŽůůŝŶŐ Total
premium ZĞƐĞƌǀĞƐ1 ƉƌŽĮƚƐ Company ƐƵŬƵŬ ŝŶƚĞƌĞƐƚƐ Equity
Ϯ͕ϲϬϮ ϲϮϯ Ϯϲ͕ϬϬϲ ϯϮ͕ϯϵϱ Ϯ͕ϮϯϬ ϵϲϱ ϯϱ͕ϱϵϬ

– – Ϯ͕ϰϯϴ Ϯ͕ϰϯϴ ϭϮϰ ϭϭϵ Ϯ͕ϲϴϭ

– ϳϮϱ ϯ ϳϮϴ – ϰϵ ϳϳϳ
– ϳϮϱ Ϯ͕ϰϰϭ ϯ͕ϭϲϲ ϭϮϰ ϭϲϴ ϯ͕ϰϱϴ
– ;ϱϴͿ ϱϴ – – – –

– ϱϴ ;ϲͿ ϱϮ – ;ϲϰͿ ;ϭϮͿ

Ϯ͕ϭϵϵ – – Ϯ͕ϯϱϳ – – Ϯ͕ϯϱϳ
– – – – – ϳ ϳ

ϭ͕ϭϭϬ – ;ϭ͕ϭϴϴͿ – – – –
– – ;ϲϭϱͿ ;ϲϭϱͿ – ;ϭϬϬͿ ;ϳϭϱͿ
– – – – ;ϭϮϰͿ – ;ϭϮϰͿ
;ϭϮͿ – – ;ϭϮͿ – – ;ϭϮͿ
;ϱ͕ϴϵϵͿ – – – – – –
– ϭ͕ϯϰϴ Ϯϲ͕ϲϵϲ ϯϳ͕ϯϰϯ Ϯ͕ϮϯϬ ϵϳϲ ϰϬ͕ϱϰϵ

ANNUAL REPORT 2018 page 133

 STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Total equity
ĂƩƌŝďƵƚĂďůĞƚŽ
Company ^ŚĂƌĞ Retained ŽǁŶĞƌƐŽĨƚŚĞ
2018 Note ĐĂƉŝƚĂů ƉƌŽĮƚƐ Company
ƚϭ:ƵůLJϮϬϭϳ 9,299 7,965 17,264

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ – 1,714 1,714

ŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞ ϭ
– (7,901) (7,901)
dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐ͗
Ͳ ĚŝǀŝĚĞŶĚƐƉĂŝĚďLJǁĂLJŽĨĐĂƐŚ 19 – (1,292) (1,292)
ƚϯϬ:ƵŶĞϮϬϭϴ 9,299 486 9,785

ϭ
 dŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞĐŽŶƐŝƐƚƐŽĨƚŚĞŽŵƉĂŶLJ͛ƐĐŽƐƚŽĨŝŶǀĞƐƚŵĞŶƚŝŶ^WůĂŶƚĂƟŽŶ;ZDϭ͕ϭϬϬŵŝůůŝŽŶͿĂŶĚ^WƌŽƉĞƌƚLJ
;ZDϲ͕ϴϬϭŵŝůůŝŽŶͿ

page 134 SIME DARBY BERHAD

 STATEMENTS OF CHANGES IN EQUITY
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

ƩƌŝďƵƚĂďůĞ
ƚŽŽǁŶĞƌƐ
Company ^ŚĂƌĞ ^ŚĂƌĞ Retained ŽĨƚŚĞ Perpetual Total
2017 Note ĐĂƉŝƚĂů premium ƉƌŽĮƚƐ Company ƐƵŬƵŬ equity
ƚϭ:ƵůLJϮϬϭϲ ϯ͕ϭϲϰ Ϯ͕ϲϬϮ ϴ͕ϰϯϴ ϭϰ͕ϮϬϰ Ϯ͕ϮϯϬ ϭϲ͕ϰϯϰ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ – – ϭ͕ϯϯϰ ϭ͕ϯϯϰ ϭϮϮ ϭ͕ϰϱϲ

dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐ͗
Ͳ ƐŚĂƌĞƉůĂĐĞŵĞŶƚ ϭϱϴ Ϯ͕ϭϵϵ – Ϯ͕ϯϱϳ – Ϯ͕ϯϱϳ
Ͳ ŶŽǀĂƟŽŶƚŽĂƐƵďƐŝĚŝĂƌLJ – – ;ϰͿ ;ϰͿ ;Ϯ͕ϮϮϴͿ ;Ϯ͕ϮϯϮͿ
Ͳ ĚŝǀŝĚĞŶĚƐƉĂŝĚďLJǁĂLJŽĨ͗ 19
Ͳ ŝƐƐƵĂŶĐĞŽĨƐŚĂƌĞƐ
ƉƵƌƐƵĂŶƚƚŽƚŚĞŝǀŝĚĞŶĚ
ZĞŝŶǀĞƐƚŵĞŶƚWůĂŶ ϳϴ ϭ͕ϭϭϬ ;ϭ͕ϭϴϴͿ – – –
- cash – – ;ϲϭϱͿ ;ϲϭϱͿ – ;ϲϭϱͿ
Ͳ ĚŝƐƚƌŝďƵƟŽŶ – – – – ;ϭϮϰͿ ;ϭϮϰͿ
^ŚĂƌĞŝƐƐƵĞĞdžƉĞŶƐĞƐ – ;ϭϮͿ – ;ϭϮͿ – ;ϭϮͿ
dƌĂŶƐĨĞƌĨƌŽŵƐŚĂƌĞƉƌĞŵŝƵŵ 37 ϱ͕ϴϵϵ ;ϱ͕ϴϵϵͿ – – – –
ƚϯϬ:ƵŶĞϮϬϭϳ ϵ͕Ϯϵϵ – ϳ͕ϵϲϱ ϭϳ͕Ϯϲϰ – ϭϳ͕Ϯϲϰ

dŚĞŶŽƚĞƐŽŶƉĂŐĞƐϭϯϵƚŽϯϬϭĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ANNUAL REPORT 2018 page 135

 STATEMENTS OF
CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
ĂƐŚŇŽǁĨƌŽŵŽƉĞƌĂƟŶŐĂĐƟǀŝƟĞƐ
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 685 ϳϵϱ 1,714 ϭ͕ϰϱϲ
ĚũƵƐƚŵĞŶƚƐĨŽƌ͗
Ͳ ĚŝǀŝĚĞŶĚƐĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ – – (1,764) ;ϭ͕ϰϬϬͿ
Ͳ ŝŶǀĞƐƚŵĞŶƚŝŶĐŽŵĞ (121) ;ϭϮϰͿ – –
Ͳ ƐŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ 28 ;ϰϲͿ – –
Ͳ ĮŶĂŶĐĞŝŶĐŽŵĞ (104) ;ϱϭϮͿ (7) ;ϮϲϮͿ
Ͳ ĮŶĂŶĐĞĐŽƐƚƐ 113 Ϯϴϵ 4 ϭϱϭ
Ͳ ƚĂdžĂƟŽŶ 380 ϮϭϮ – ;ϭͿ
Ͳ ŐĂŝŶŽŶĚŝƐƉŽƐĂůƐĂŶĚůŽƐƐŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶ;ŶĞƚͿ (137) ;ϳϮͿ – –
Ͳ /ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐĂŶĚǁƌŝƚĞŽīƐ;ŶĞƚͿ 143 Ϯϱϱ 31 –
Ͳ ĚĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ 621 ϱϴϭ – –
Ͳ ŝŶǀĞŶƚŽƌLJƉƌŽǀŝƐŝŽŶ;ŶĞƚͿ 288 ϮϬϯ – –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĚĞƌŝǀĂƟǀĞƐ (4) ϮϬ – –
Ͳ ƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĐƵƌƌĞŶĐŝĞƐĞdžĐŚĂŶŐĞ;ŐĂŝŶͿͬůŽƐƐ
ƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵĞƋƵŝƚLJ (23) ϭϵ – –
Ͳ ŽƚŚĞƌŶŽŶͲĐĂƐŚŝƚĞŵƐ 11 ;ϰϯͿ (1) –
1,880 ϭ͕ϱϳϳ (23) ;ϱϲͿ
ŚĂŶŐĞƐŝŶǁŽƌŬŝŶŐĐĂƉŝƚĂů͗
- inventories (455) ϰϬϮ – –
- rental assets (682) ;ϱϮϮͿ – ͵
Ͳ ƌĞĐĞŝǀĂďůĞƐĂŶĚŽƚŚĞƌĂƐƐĞƚƐ (921) ϰϭϲ (3) ϳ
Ͳ ƉĂLJĂďůĞƐĂŶĚŽƚŚĞƌůŝĂďŝůŝƟĞƐ 997 ;ϮϬϮͿ (8) Ϯ
ĂƐŚŐĞŶĞƌĂƚĞĚĨƌŽŵͬ;ƵƐĞĚŝŶͿŽƉĞƌĂƟŽŶƐ 819 ϭ͕ϲϳϭ (34) ;ϰϳͿ
dĂdž;ƉĂŝĚͿͬƌĞĨƵŶĚ (284) ;ϮϴϵͿ – ϭ
ŝǀŝĚĞŶĚƐƌĞĐĞŝǀĞĚĨƌŽŵ͗
Ͳ ƐƵďƐŝĚŝĂƌŝĞƐ – – 1,764 ϭ͕ϰϬϬ
Ͳ ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ 21 ϯϯ – –
/ŶĐŽŵĞƌĞĐĞŝǀĞĚĨƌŽŵŝŶǀĞƐƚŵĞŶƚƐ 121 ϭϮϰ – –
KƉĞƌĂƟŶŐĐĂƐŚŇŽǁĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 677 ϭ͕ϱϯϵ 1,730 ϭ͕ϯϱϰ
KƉĞƌĂƟŶŐĐĂƐŚŇŽǁĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 596 ϯ͕ϰϱϮ – –
EĞƚĐĂƐŚŇŽǁĨƌŽŵŽƉĞƌĂƟŶŐĂĐƟǀŝƟĞƐ 1,273 ϰ͕ϵϵϭ 1,730 ϭ͕ϯϱϰ

page 136 ^/DZzZ,

 STATEMENTS OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
ĂƐŚŇŽǁĨƌŽŵŝŶǀĞƐƟŶŐĂĐƟǀŝƟĞƐ
&ŝŶĂŶĐĞŝŶĐŽŵĞƌĞĐĞŝǀĞĚ 87 ϱϭϮ 6 Ϯϵϴ
WƌŽĐĞĞĚƐĨƌŽŵƐĂůĞŽĨ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 439 Ϯϴ – –
Ͳ ƉƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůĂŶĚŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ 6 ϰϱ – –
Ͳ ĂƐƐŽĐŝĂƚĞƐĂŶĚŝŶǀĞƐƚŵĞŶƚ 6 ϯϮϯ – –
EĞƚĐĂƐŚ;ŽƵƞůŽǁͿͬŝŶŇŽǁĨƌŽŵĚŝƐƉŽƐĂůĂŶĚĚĞĐŽŶƐŽůŝĚĂƟŽŶ
ŽĨƐƵďƐŝĚŝĂƌŝĞƐ ϰϳ;ĂͿ;ŝŝͿ (59) ϭϬϰ – –
WƵƌĐŚĂƐĞŽĨ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ Ϯϭ;ĚͿ (467) ;ϯϵϰͿ – –
Ͳ ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ͕ŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂŶĚƉƌĞƉĂŝĚ
lease rentals (23) ;ϭϯϵͿ – –
Ͳ ŝŶǀĞƐƚŵĞŶƚƐ (27) ;ϱϴͿ – –
ĐƋƵŝƐŝƟŽŶŽĨĂďƵƐŝŶĞƐƐ ϰϲ;ĂͿ (2) – – –
ĐƋƵŝƐŝƟŽŶĂŶĚƐƵďƐĐƌŝƉƟŽŶŽĨƐŚĂƌĞƐŝŶũŽŝŶƚǀĞŶƚƵƌĞƐ (30) ;ϭϬϱͿ – –
^ĞƩůĞŵĞŶƚďLJͬ;ĂĚǀĂŶĐĞƐƚŽͿƐƵďƐŝĚŝĂƌŝĞƐ – – 225 ;Ϯ͕ϬϲϰͿ
ZĞĐůĂƐƐŝĮĐĂƟŽŶƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ (19) – – –
ZĞƉĂLJŵĞŶƚďLJĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 735 ϭ͕ϱϰϴ – –
EĞƚ;ůŽĂŶƐƚŽͿͬƌĞƉĂLJŵĞŶƚŽĨůŽĂŶƐďLJũŽŝŶƚǀĞŶƚƵƌĞƐ
ĂŶĚĂƐƐŽĐŝĂƚĞƐ (30) ϱϬ – –
/ŶǀĞƐƟŶŐĐĂƐŚŇŽǁĨƌŽŵͬ;ƵƐĞĚŝŶͿĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 616 ϭ͕ϵϭϰ 231 ;ϭ͕ϳϲϲͿ
/ŶǀĞƐƟŶŐĐĂƐŚŇŽǁƵƐĞĚŝŶĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ (1,474) ;ϭ͕ϴϭϯͿ – –
EĞƚĐĂƐŚŇŽǁ;ƵƐĞĚŝŶͿͬĨƌŽŵŝŶǀĞƐƟŶŐĂĐƟǀŝƟĞƐ (858) ϭϬϭ 231 ;ϭ͕ϳϲϲͿ

ANNUAL REPORT 2018 page 137

 STATEMENTS OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
ŵŽƵŶƚƐŝŶZDŵŝůůŝŽŶƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ

Group Company
Note 2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
ĂƐŚŇŽǁĨƌŽŵĮŶĂŶĐŝŶŐĂĐƟǀŝƟĞƐ
WƌŽĐĞĞĚƐĨƌŽŵŝƐƐƵĂŶĐĞŽĨƐŚĂƌĞƐ͕ŶĞƚŽĨĞdžƉĞŶƐĞƐ – Ϯ͕ϯϰϱ – Ϯ͕ϯϰϱ
WƌŽĐĞĞĚƐĨƌŽŵƐŚĂƌĞƐŝƐƐƵĞĚƚŽŽǁŶĞƌƐŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐ
interest 5 ϳ – –
WƵƌĐŚĂƐĞŽĨĂĚĚŝƟŽŶĂůŝŶƚĞƌĞƐƚŝŶĂƐƵďƐŝĚŝĂƌLJ – ;ϮϵͿ – –
&ŝŶĂŶĐĞĐŽƐƚƐƉĂŝĚ (131) ;ϯϳϭͿ (6) ;ϭϵϰͿ
EĞƚďŽƌƌŽǁŝŶŐƐƌĞƉĂŝĚ (146) ;ϰ͕ϲϰϮͿ (700) ;ϭ͕ϬϬϬͿ
ŝƐƚƌŝďƵƟŽŶƚŽƉĞƌƉĞƚƵĂůƐƵŬƵŬŚŽůĚĞƌƐ – ;ϭϮϰͿ – ;ϭϮϰͿ
ŝǀŝĚĞŶĚƐƉĂŝĚƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ (1,292) ;ϲϭϱͿ (1,292) ;ϲϭϱͿ
ŝǀŝĚĞŶĚƐƉĂŝĚƚŽŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ (27) ;ϰϬͿ – –
&ŝŶĂŶĐŝŶŐĐĂƐŚŇŽǁƵƐĞĚŝŶĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ (1,591) ;ϯ͕ϰϲϵͿ (1,998) ϰϭϮ
&ŝŶĂŶĐŝŶŐĐĂƐŚŇŽǁƵƐĞĚŝŶĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ (936) ;ϭ͕ϯϳϵͿ – –
EĞƚĐĂƐŚ;ƵƐĞĚŝŶͿͬĨƌŽŵĮŶĂŶĐŝŶŐĂĐƟǀŝƟĞƐ (2,527) ;ϰ͕ϴϰϴͿ (1,998) ϰϭϮ

EĞƚ;ĚĞĐƌĞĂƐĞͿͬŝŶĐƌĞĂƐĞŝŶĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ (2,112) Ϯϰϰ (37) –

&ŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (101) ϭϬϮ – –
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƚďĞŐŝŶŶŝŶŐŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 3,842 ϯ͕ϰϵϲ 200 ϮϬϬ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ΀ŶŽƚĞ;ĂͿ΁ 1,629 ϯ͕ϴϰϮ 163 ϮϬϬ

Ă͘ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͗

ĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚ ϯϱ 1,672 Ϯ͕ϬϳϮ 163 ϮϬϬ

ĂŶŬŽǀĞƌĚƌĂŌƐ ϰϮ (43) ;ϳϴͿ – –
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 1,629 ϭ͕ϵϵϰ 163 ϮϬϬ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭϳ – ϭ͕ϴϰϴ – –
1,629 ϯ͕ϴϰϮ 163 ϮϬϬ

ŽŵƉĂƌĂƟǀĞƐŚĂǀĞďĞĞŶƌĞƐƚĂƚĞĚĨŽůůŽǁŝŶŐƚŚĞƌĞĐůĂƐƐŝĮĐĂƟŽŶŽĨĐĞƌƚĂŝŶŝƚĞŵƐĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϯ͘

dŚĞŶŽƚĞƐŽŶƉĂŐĞƐϭϯϵƚŽϯϬϭĨŽƌŵĂŶŝŶƚĞŐƌĂůƉĂƌƚŽĨƚŚĞƐĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

page 138 ^/DZzZ,

NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

1 GENERAL INFORMATION

 dŚĞŽŵƉĂŶLJŝƐƉƌŝŶĐŝƉĂůůLJĂŶŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĐŽŵƉĂŶLJ͘dŚĞƌĞŚĂƐďĞĞŶŶŽƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞŝŶƚŚĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƚLJŽĨƚŚĞ
ŽŵƉĂŶLJĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘

 &ŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƚŽƐŚĂƌĞŚŽůĚĞƌƐ
ŽŶϮϵEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞ'ƌŽƵƉ͛ƐƌĞŵĂŝŶŝŶŐƐƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐĂƌĞƉƌŝŵĂƌŝůLJŝŶǀŽůǀĞĚŝŶƚŚĞƚƌĂĚŝŶŐ
;ŝŶĚƵƐƚƌŝĂůĂŶĚŵŽƚŽƌƐͿ͕ůŽŐŝƐƟĐƐĂŶĚŚĞĂůƚŚĐĂƌĞďƵƐŝŶĞƐƐĞƐ͘dŚĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐĂŶĚĚĞƚĂŝůƐŽĨƚŚĞƐƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚ
ĂƐƐŽĐŝĂƚĞƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϲ͘

2 BASIS OF PREPARATION

 dŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJĂƌĞƉƌĞƉĂƌĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞDĂůĂLJƐŝĂŶ&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ
^ƚĂŶĚĂƌĚƐ;D&Z^Ϳ͕/ŶƚĞƌŶĂƟŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ^ƚĂŶĚĂƌĚƐĂŶĚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲŝŶDĂůĂLJƐŝĂ͘

 dŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŚĂǀĞďĞĞŶƉƌĞƉĂƌĞĚƵŶĚĞƌƚŚĞŚŝƐƚŽƌŝĐĂůĐŽƐƚĐŽŶǀĞŶƟŽŶĞdžĐĞƉƚĂƐĚŝƐĐůŽƐĞĚŝŶƚŚĞƐŝŐŶŝĮĐĂŶƚĂĐĐŽƵŶƟŶŐ
ƉŽůŝĐŝĞƐŝŶEŽƚĞϯ͘

 dŚĞƉƌĞƉĂƌĂƟŽŶŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĐŽŶĨŽƌŵŝƚLJǁŝƚŚD&Z^͕ƌĞƋƵŝƌĞƐƚŚĞƵƐĞŽĨĐĞƌƚĂŝŶĐƌŝƟĐĂůĂĐĐŽƵŶƟŶŐĞƐƟŵĂƚĞƐĂŶĚ
ĂƐƐƵŵƉƟŽŶƐƚŚĂƚĂīĞĐƚƚŚĞƌĞƉŽƌƚĞĚĂŵŽƵŶƚƐŽĨĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚƚŚĞĚŝƐĐůŽƐƵƌĞŽĨĐŽŶƟŶŐĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƚƚŚĞ
ĚĂƚĞŽĨƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ĂŶĚƚŚĞƌĞƉŽƌƚĞĚĂŵŽƵŶƚƐŽĨƌĞǀĞŶƵĞƐĂŶĚĞdžƉĞŶƐĞƐĚƵƌŝŶŐƚŚĞƌĞƉŽƌƚĞĚƉĞƌŝŽĚ͘/ƚĂůƐŽƌĞƋƵŝƌĞƐ
ŝƌĞĐƚŽƌƐƚŽĞdžĞƌĐŝƐĞƚŚĞŝƌũƵĚŐĞŵĞŶƚŝŶƚŚĞƉƌŽĐĞƐƐŽĨĂƉƉůLJŝŶŐƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJ͛ƐĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐ͘ůƚŚŽƵŐŚƚŚĞƐĞ
ĞƐƟŵĂƚĞƐĂŶĚũƵĚŐĞŵĞŶƚƐĂƌĞďĂƐĞĚŽŶƚŚĞŝƌĞĐƚŽƌƐ͛ďĞƐƚŬŶŽǁůĞĚŐĞŽĨĐƵƌƌĞŶƚĞǀĞŶƚƐĂŶĚĂĐƟŽŶƐ͕ĂĐƚƵĂůƌĞƐƵůƚƐŵĂLJĚŝīĞƌ͘dŚĞ
ĂƌĞĂƐŝŶǀŽůǀŝŶŐĂŚŝŐŚĞƌĚĞŐƌĞĞŽĨũƵĚŐĞŵĞŶƚŽƌĐŽŵƉůĞdžŝƚLJ͕ŽƌĂƌĞĂƐǁŚĞƌĞĂƐƐƵŵƉƟŽŶƐĂŶĚĞƐƟŵĂƚĞƐĂƌĞƐŝŐŶŝĮĐĂŶƚƚŽƚŚĞ'ƌŽƵƉ͛Ɛ
ĂŶĚƚŽƚŚĞŽŵƉĂŶLJ͛ƐĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϰ͘

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉŚĂƐĐŽŶƐŝĚĞƌĞĚƚŚĞŶĞǁĂĐĐŽƵŶƟŶŐƉƌŽŶŽƵŶĐĞŵĞŶƚƐŝŶƚŚĞƉƌĞƉĂƌĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐ͘

a. ŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐƚŚĂƚĂƌĞĂƉƉůŝĐĂďůĞƚŽƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJ

 dŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJŚĂǀĞĂƉƉůŝĞĚƚŚĞĨŽůůŽǁŝŶŐĂŵĞŶĚŵĞŶƚƐĨŽƌƚŚĞĮƌƐƚƟŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďĞŐŝŶŶŝŶŐϭ:ƵůLJ
ϮϬϭϳ͗

ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϬϳ͚^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐʹŝƐĐůŽƐƵƌĞ/ŶŝƟĂƟǀĞ͛
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϭϮ͚/ŶĐŽŵĞdĂdžĞƐʹZĞĐŽŐŶŝƟŽŶŽĨĞĨĞƌƌĞĚdĂdžƐƐĞƚƐĨŽƌhŶƌĞĂůŝƐĞĚ>ŽƐƐĞƐ͛
ͻ ŶŶƵĂů/ŵƉƌŽǀĞŵĞŶƚƐƚŽD&Z^ƐϮϬϭϰʹϮϬϭϲLJĐůĞ͗D&Z^ϭϮ͚ŝƐĐůŽƐƵƌĞŽĨ/ŶƚĞƌĞƐƚƐŝŶKƚŚĞƌŶƟƟĞƐ͛

ANNUAL REPORT 2018 page 139

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯ ^/^K&WZWZd/KEΈKEd/EhΉ

Ă͘ ŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐƚŚĂƚĂƌĞĂƉƉůŝĐĂďůĞƚŽƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJ;ĐŽŶƟŶƵĞĚͿ

 dŚĞĂĚŽƉƟŽŶŽĨƚŚĞŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϬϳŚĂƐƌĞƋƵŝƌĞĚĂĚĚŝƟŽŶĂůĚŝƐĐůŽƐƵƌĞŽĨĐŚĂŶŐĞƐŝŶůŝĂďŝůŝƟĞƐĂƌŝƐŝŶŐĨƌŽŵĮŶĂŶĐŝŶŐ
ĂĐƟǀŝƟĞƐĂƐƐĞƚŽƵƚŝŶEŽƚĞϰϮ;ĐͿ;ŝŝŝͿ͘KƚŚĞƌƚŚĂŶƚŚĂƚ͕ƚŚĞĂĚŽƉƟŽŶŽĨƚŚĞƐĞĂŵĞŶĚŵĞŶƚƐĚŝĚŶŽƚŚĂǀĞĂŶLJŝŵƉĂĐƚŽŶƚŚĞ
ĐƵƌƌĞŶƚƉĞƌŝŽĚŽƌĂŶLJƉƌŝŽƌƉĞƌŝŽĚĂŶĚŝƐŶŽƚůŝŬĞůLJƚŽĂīĞĐƚĨƵƚƵƌĞƉĞƌŝŽĚƐ͘

ď͘ ^ƚĂŶĚĂƌĚƐ͕ĂŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐĂŶĚŝŶƚĞƌƉƌĞƚĂƟŽŶƐƚŽĞdžŝƐƟŶŐƐƚĂŶĚĂƌĚƐƚŚĂƚĂƌĞĂƉƉůŝĐĂďůĞƚŽƚŚĞ'ƌŽƵƉ
ĂŶĚƚŚĞŽŵƉĂŶLJďƵƚŶŽƚLJĞƚĞīĞĐƟǀĞ͗

ŝ͘ ŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐĂŶĚŝŶƚĞƌƉƌĞƚĂƟŽŶƐƚŚĂƚĂƌĞĞīĞĐƟǀĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌ
ϭ:ƵůLJϮϬϭϴ͕ǁŚĞƌĞƚŚĞŝƌĂĚŽƉƟŽŶĂƌĞŶŽƚĞdžƉĞĐƚĞĚƚŽƌĞƐƵůƚŝŶĂŶLJƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞƐƚŽƚŚĞ'ƌŽƵƉ͛ƐĂŶĚŽŵƉĂŶLJ͛Ɛ
ƌĞƐƵůƚƐŽƌĮŶĂŶĐŝĂůƉŽƐŝƟŽŶĂƌĞĂƐĨŽůůŽǁ͗

īĞĐƟǀĞĨŽƌĂŶŶƵĂůƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌϭ:ĂŶƵĂƌLJϮϬϭϴ
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^Ϯ͚^ŚĂƌĞͲďĂƐĞĚWĂLJŵĞŶƚʹůĂƐƐŝĮĐĂƟŽŶĂŶĚDĞĂƐƵƌĞŵĞŶƚŽĨ^ŚĂƌĞͲďĂƐĞĚWĂLJŵĞŶƚ
dƌĂŶƐĂĐƟŽŶƐ͛
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϰ͚/ŶƐƵƌĂŶĐĞŽŶƚƌĂĐƚƐʹƉƉůLJŝŶŐD&Z^ϵ͚&ŝŶĂŶĐŝĂů/ŶƐƚƌƵŵĞŶƚƐ͛ǁŝƚŚD&Z^ϰ͚/ŶƐƵƌĂŶĐĞ
ŽŶƚƌĂĐƚƐ͛
ͻ ŶŶƵĂů/ŵƉƌŽǀĞŵĞŶƚƐƚŽD&Z^ƐϮϬϭϰʹϮϬϭϲLJĐůĞ͗D&Z^ϭϮϴ͚/ŶǀĞƐƚŵĞŶƚƐŝŶƐƐŽĐŝĂƚĞƐĂŶĚ:ŽŝŶƚsĞŶƚƵƌĞƐ͛
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϰϬ͚/ŶǀĞƐƚŵĞŶƚWƌŽƉĞƌƚLJʹůĂƌŝĮĐĂƟŽŶŽĨ͚ŚĂŶŐĞŝŶhƐĞ͛ʹƐƐĞƚƚƌĂŶƐĨĞƌƌĞĚƚŽ͕ŽƌĨƌŽŵ͕
/ŶǀĞƐƚŵĞŶƚWƌŽƉĞƌƟĞƐ͛
ͻ //ŶƚĞƌƉƌĞƚĂƟŽŶϮϮ͚&ŽƌĞŝŐŶƵƌƌĞŶĐLJdƌĂŶƐĂĐƟŽŶƐĂŶĚĚǀĂŶĐĞŽŶƐŝĚĞƌĂƟŽŶ͛

īĞĐƟǀĞĨŽƌĂŶŶƵĂůƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌϭ:ĂŶƵĂƌLJϮϬϭϵ
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϮϴ͚/ŶǀĞƐƚŵĞŶƚŝŶƐƐŽĐŝĂƚĞƐĂŶĚ:ŽŝŶƚsĞŶƚƵƌĞƐʹ>ŽŶŐͲƚĞƌŵ/ŶƚĞƌĞƐƚŝŶƐƐŽĐŝĂƚĞƐĂŶĚ
:ŽŝŶƚsĞŶƚƵƌĞƐ͛
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϵ͚&ŝŶĂŶĐŝĂů/ŶƐƚƌƵŵĞŶƚʹWƌĞƉĂLJŵĞŶƚ&ĞĂƚƵƌĞƐǁŝƚŚEĞŐĂƟǀĞŽŵƉĞŶƐĂƟŽŶ͛
ͻ ŶŶƵĂů/ŵƉƌŽǀĞŵĞŶƚƐƚŽD&Z^ƐϮϬϭϱʹϮϬϭϳLJĐůĞ͗ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϯ͚ƵƐŝŶĞƐƐŽŵďŝŶĂƟŽŶ͕͛D&Z^ϭϭ
͚:ŽŝŶƚƌƌĂŶŐĞŵĞŶƚƐ͕͛D&Z^ϭϭϮ͚/ŶĐŽŵĞdĂdžĞƐ͛ĂŶĚD&Z^ϭϮϯ͚ŽƌƌŽǁŝŶŐŽƐƚƐ͛
ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϭϵ͚ŵƉůŽLJĞĞĞŶĞĮƚƐʹWůĂŶŵĞŶĚŵĞŶƚ͕ƵƌƚĂŝůŵĞŶƚŽƌ^ĞƩůĞŵĞŶƚ͛

ŝŝ͘ EĞǁƐƚĂŶĚĂƌĚƐĞīĞĐƟǀĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďĞŐŝŶŶŝŶŐϭ:ƵůLJϮϬϭϴƚŚĂƚĂƌĞĞdžƉĞĐƚĞĚƚŽĂīĞĐƚƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJĂƌĞƐĞƚŽƵƚďĞůŽǁ͗

ͻ D&Z^ϵʹ&ŝŶĂŶĐŝĂů/ŶƐƚƌƵŵĞŶƚƐ

 D&Z^ϵƌĞƚĂŝŶƐďƵƚƐŝŵƉůŝĮĞƐƚŚĞŵŝdžĞĚŵĞĂƐƵƌĞŵĞŶƚŵŽĚĞůŝŶD&Z^ϭϯϵ͚&ŝŶĂŶĐŝĂů/ŶƐƚƌƵŵĞŶƚƐ͗ZĞĐŽŐŶŝƟŽŶ
ĂŶĚDĞĂƐƵƌĞŵĞŶƚ͛ĂŶĚĞƐƚĂďůŝƐŚĞƐƚŚƌĞĞƉƌŝŵĂƌLJŵĞĂƐƵƌĞŵĞŶƚĐĂƚĞŐŽƌŝĞƐĨŽƌĮŶĂŶĐŝĂůĂƐƐĞƚƐ͗ĂŵŽƌƟƐĞĚ
ĐŽƐƚ͕ĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ;&sdW>ͿĂŶĚĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ;&sK/Ϳ͘dŚĞ
ďĂƐŝƐŽĨĐůĂƐƐŝĮĐĂƟŽŶĚĞƉĞŶĚƐŽŶƚŚĞĞŶƟƚLJ͛ƐďƵƐŝŶĞƐƐŵŽĚĞůĂŶĚƚŚĞĐĂƐŚŇŽǁĐŚĂƌĂĐƚĞƌŝƐƟĐƐŽĨƚŚĞĮŶĂŶĐŝĂů
ĂƐƐĞƚ͘/ŶǀĞƐƚŵĞŶƚƐŝŶĞƋƵŝƚLJŝŶƐƚƌƵŵĞŶƚƐĂƌĞĂůǁĂLJƐŵĞĂƐƵƌĞĚĂƚ&sdW>ĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐǁŝƚŚĂŶ
ŝƌƌĞǀŽĐĂďůĞŽƉƟŽŶĂƚŝŶĐĞƉƟŽŶƚŽƉƌĞƐĞŶƚĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ;ƉƌŽǀŝĚĞĚƚŚĞ
ŝŶƐƚƌƵŵĞŶƚŝƐŶŽƚŚĞůĚĨŽƌƚƌĂĚŝŶŐͿ͘ĚĞďƚŝŶƐƚƌƵŵĞŶƚŝƐŵĞĂƐƵƌĞĚĂƚĂŵŽƌƟƐĞĚĐŽƐƚŽŶůLJŝĨƚŚĞĞŶƟƚLJŝƐŚŽůĚŝŶŐŝƚ
ƚŽĐŽůůĞĐƚĐŽŶƚƌĂĐƚƵĂůĐĂƐŚŇŽǁƐĂŶĚƚŚĞĐĂƐŚŇŽǁƐƌĞƉƌĞƐĞŶƚƉƌŝŶĐŝƉĂůĂŶĚŝŶƚĞƌĞƐƚ͘

page 140 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯ ^/^K&WZWZd/KEΈKEd/EhΉ

ď͘ ^ƚĂŶĚĂƌĚƐ͕ĂŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐĂŶĚŝŶƚĞƌƉƌĞƚĂƟŽŶƐƚŽĞdžŝƐƟŶŐƐƚĂŶĚĂƌĚƐƚŚĂƚĂƌĞĂƉƉůŝĐĂďůĞƚŽƚŚĞ'ƌŽƵƉ
ĂŶĚƚŚĞŽŵƉĂŶLJďƵƚŶŽƚLJĞƚĞīĞĐƟǀĞ;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ EĞǁƐƚĂŶĚĂƌĚƐĞīĞĐƟǀĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďĞŐŝŶŶŝŶŐϭ:ƵůLJϮϬϭϴƚŚĂƚĂƌĞĞdžƉĞĐƚĞĚƚŽĂīĞĐƚƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJĂƌĞƐĞƚŽƵƚďĞůŽǁ͗;ĐŽŶƟŶƵĞĚͿ

ͻ D&Z^ϵʹ&ŝŶĂŶĐŝĂů/ŶƐƚƌƵŵĞŶƚƐ;ĐŽŶƟŶƵĞĚͿ

;ĂͿ ůĂƐƐŝĮĐĂƟŽŶĂŶĚŵĞĂƐƵƌĞŵĞŶƚ

 dŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJĚŽŶŽƚĞdžƉĞĐƚĂƐŝŐŶŝĮĐĂŶƚŝŵƉĂĐƚĂƌŝƐŝŶŐĨƌŽŵƚŚĞĐŚĂŶŐĞƐŝŶĐůĂƐƐŝĮĐĂƟŽŶĂŶĚ
ŵĞĂƐƵƌĞŵĞŶƚŽĨƚŚĞĮŶĂŶĐŝĂůĂƐƐĞƚƐ͘dŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůĂƐƐĞƚƐĐŽŵƉƌŝƐĞ͗

ͻ ĞƋƵŝƚLJŝŶƐƚƌƵŵĞŶƚƐŶŽƚŚĞůĚĨŽƌƚƌĂĚŝŶŐĐƵƌƌĞŶƚůLJĐůĂƐƐŝĮĞĚĂƐĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞŝŶǀĞƐƚŵĞŶƚƐĨŽƌ
ǁŚŝĐŚĂ&sK/ĞůĞĐƟŽŶŝƐĂǀĂŝůĂďůĞŽŶĚĂƚĞŽĨŝŶŝƟĂůĂƉƉůŝĐĂƟŽŶ͘'ĂŝŶƐŽƌůŽƐƐĞƐƌĞĂůŝƐĞĚŽŶƚŚĞƐĂůĞ
ŽĨĮŶĂŶĐŝĂůĂƐƐĞƚƐĐůĂƐƐŝĮĞĚĂƚ&sK/ǁŝůůŶŽůŽŶŐĞƌďĞƚƌĂŶƐĨĞƌƌĞĚƚŽƉƌŽĮƚŽƌůŽƐƐďƵƚŝŶƐƚĞĂĚĂƌĞ
ƌĞĐůĂƐƐŝĮĞĚĨƌŽŵƚŚĞ&sK/ƌĞƐĞƌǀĞƚŽƌĞƚĂŝŶĞĚĞĂƌŶŝŶŐƐ͖
ͻ ĚĞďƚŝŶƐƚƌƵŵĞŶƚƐĐƵƌƌĞŶƚůLJĐůĂƐƐŝĮĞĚĂƐĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞŝŶǀĞƐƚŵĞŶƚƐǁŝůůďĞƌĞĐůĂƐƐŝĮĞĚĂƐĮŶĂŶĐŝĂů
ĂƐƐĞƚƐĂƚ&sdW>ƵŶĚĞƌD&Z^ϵ͘ŶLJƌĞůĂƚĞĚĨĂŝƌǀĂůƵĞŐĂŝŶƐŽƌůŽƐƐĞƐǁŝůůďĞƚƌĂŶƐĨĞƌƌĞĚĨƌŽŵĂǀĂŝůĂďůĞͲ
ĨŽƌͲƐĂůĞƌĞƐĞƌǀĞƚŽƌĞƚĂŝŶĞĚĞĂƌŶŝŶŐƐŽŶϭ:ƵůLJϮϬϭϴ͖ĂŶĚ
ͻ ĚĞďƚŝŶƐƚƌƵŵĞŶƚƐĐƵƌƌĞŶƚůLJĐůĂƐƐŝĮĞĚĂƐůŽĂŶƐĂŶĚƌĞĐĞŝǀĂďůĞƐĂŶĚŵĞĂƐƵƌĞĚĂƚĂŵŽƌƟƐĞĚĐŽƐƚǁŚŝĐŚ
ŵĞĞƚƚŚĞĐŽŶĚŝƟŽŶƐĨŽƌĐůĂƐƐŝĮĐĂƟŽŶĂƐĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƚĂŵŽƌƟƐĞĚĐŽƐƚƵŶĚĞƌD&Z^ϵ͘

 EŽĐŚĂŶŐĞƐĂƌĞĞdžƉĞĐƚĞĚƚŽƚŚĞ'ƌŽƵƉ͛ƐĂĐĐŽƵŶƟŶŐĨŽƌĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƐƚŚĞƌĞŚĂƐŶŽƚďĞĞŶĂŶLJ
ƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞŝŶƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐĨŽƌĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐƵŶĚĞƌD&Z^ϵ͘

;ďͿ /ŵƉĂŝƌŵĞŶƚ

 D&Z^ϵŝŶƚƌŽĚƵĐĞƐĂŶĞdžƉĞĐƚĞĚĐƌĞĚŝƚůŽƐƐŵŽĚĞůŽŶŝŵƉĂŝƌŵĞŶƚƚŚĂƚƌĞƉůĂĐĞƐƚŚĞŝŶĐƵƌƌĞĚůŽƐƐŝŵƉĂŝƌŵĞŶƚ
ŵŽĚĞůƵƐĞĚŝŶD&Z^ϭϯϵ͘dŚĞĞdžƉĞĐƚĞĚĐƌĞĚŝƚůŽƐƐŵŽĚĞůŝƐĨŽƌǁĂƌĚͲůŽŽŬŝŶŐĂŶĚĞůŝŵŝŶĂƚĞƐƚŚĞŶĞĞĚĨŽƌĂ
ƚƌŝŐŐĞƌĞǀĞŶƚƚŽŚĂǀĞŽĐĐƵƌƌĞĚďĞĨŽƌĞĐƌĞĚŝƚůŽƐƐĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚ͘dŚĞ'ƌŽƵƉĂŶĚŽŵƉĂŶLJĚŽŶŽƚĞdžƉĞĐƚĂ
ƐŝŐŶŝĮĐĂŶƚŝŵƉĂĐƚďĂƐĞĚŽŶƚŚĞĂƐƐĞƐƐŵĞŶƚƵŶĚĞƌƚĂŬĞŶƚŽĚĂƚĞ͘

;ĐͿ ,ĞĚŐĞĂĐĐŽƵŶƟŶŐ

 dŚĞŶĞǁŚĞĚŐĞĂĐĐŽƵŶƟŶŐƌƵůĞƐǁŝůůĂůŝŐŶƚŚĞĂĐĐŽƵŶƟŶŐĨŽƌŚĞĚŐŝŶŐŝŶƐƚƌƵŵĞŶƚƐŵŽƌĞĐůŽƐĞůLJǁŝƚŚƚŚĞ
'ƌŽƵƉ͛ƐƌŝƐŬŵĂŶĂŐĞŵĞŶƚƉƌĂĐƟĐĞƐ͘ƐĂŐĞŶĞƌĂůƌƵůĞ͕ŵŽƌĞŚĞĚŐĞƌĞůĂƟŽŶƐŚŝƉƐŵŝŐŚƚďĞĞůŝŐŝďůĞĨŽƌŚĞĚŐĞ
ĂĐĐŽƵŶƟŶŐ͕ĂƐƚŚĞƐƚĂŶĚĂƌĚŝŶƚƌŽĚƵĐĞƐĂŵŽƌĞƉƌŝŶĐŝƉůĞƐďĂƐĞĚĂƉƉƌŽĂĐŚ͘dŚĞ'ƌŽƵƉĞdžƉĞĐƚƐŝƚƐĐƵƌƌĞŶƚ
ŚĞĚŐŝŶŐƌĞůĂƟŽŶƐŚŝƉƐƚŽĐŽŶƟŶƵĞƚŽƋƵĂůŝĨLJĨŽƌŚĞĚŐĞĂĐĐŽƵŶƟŶŐƵƉŽŶƚŚĞĂĚŽƉƟŽŶŽĨD&Z^ϵ͘

 dŚĞŶĞǁƐƚĂŶĚĂƌĚĂůƐŽŝŶƚƌŽĚƵĐĞƐĞdžƉĂŶĚĞĚĚŝƐĐůŽƐƵƌĞƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚĐŚĂŶŐĞƐŝŶƉƌĞƐĞŶƚĂƟŽŶ͘dŚĞƐĞ
ĂƌĞĞdžƉĞĐƚĞĚƚŽĐŚĂŶŐĞƚŚĞŶĂƚƵƌĞĂŶĚĞdžƚĞŶƚŽĨƚŚĞ'ƌŽƵƉ͛ƐĚŝƐĐůŽƐƵƌĞƐĂďŽƵƚŝƚƐĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ
ƉĂƌƟĐƵůĂƌůLJŝŶƚŚĞLJĞĂƌŽĨƚŚĞĂĚŽƉƟŽŶŽĨƚŚĞŶĞǁƐƚĂŶĚĂƌĚ͘
പ

ANNUAL REPORT 2018 page 141

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯ ^/^K&WZWZd/KEΈKEd/EhΉ

ď͘ ^ƚĂŶĚĂƌĚƐ͕ĂŵĞŶĚŵĞŶƚƐƚŽƉƵďůŝƐŚĞĚƐƚĂŶĚĂƌĚƐĂŶĚŝŶƚĞƌƉƌĞƚĂƟŽŶƐƚŽĞdžŝƐƟŶŐƐƚĂŶĚĂƌĚƐƚŚĂƚĂƌĞĂƉƉůŝĐĂďůĞƚŽƚŚĞ'ƌŽƵƉ
ĂŶĚƚŚĞŽŵƉĂŶLJďƵƚŶŽƚLJĞƚĞīĞĐƟǀĞ;ĐŽŶƟŶƵĞĚͿ

ŝŝŝ͘ EĞǁƐƚĂŶĚĂƌĚƐĞīĞĐƟǀĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďĞŐŝŶŶŝŶŐϭ:ƵůLJϮϬϭϵƚŚĂƚĂƌĞĞdžƉĞĐƚĞĚƚŽŚĂǀĞĂƐŝŐŶŝĮĐĂŶƚĞīĞĐƚŽŶƚŚĞ
ĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJĂƌĞƐĞƚŽƵƚďĞůŽǁ͗

ͻ D&Z^ϭϲʹ>ĞĂƐĞƐ

 D&Z^ϭϲƐĞƚƐŽƵƚƚŚĞƉƌŝŶĐŝƉůĞƐĨŽƌƚŚĞƌĞĐŽŐŶŝƟŽŶ͕ŵĞĂƐƵƌĞŵĞŶƚ͕ƉƌĞƐĞŶƚĂƟŽŶĂŶĚĚŝƐĐůŽƐƵƌĞŽĨůĞĂƐĞƐĂŶĚ
ǁŝůůďĞĞīĞĐƟǀĞĨŽƌĂŶŶƵĂůƌĞƉŽƌƟŶŐƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌϭ:ĂŶƵĂƌLJϮϬϭϵ͘/ƚŝŶƚƌŽĚƵĐĞƐĂƐŝŶŐůĞůĞƐƐĞĞ
ĂĐĐŽƵŶƟŶŐŵŽĚĞůĂŶĚƌĞƋƵŝƌĞƐĂůĞƐƐĞĞƚŽƌĞĐŽŐŶŝƐĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĨŽƌĂůůůĞĂƐĞƐǁŝƚŚĂƚĞƌŵŽĨŵŽƌĞƚŚĂŶ
ϭϮŵŽŶƚŚƐ͕ƵŶůĞƐƐƚŚĞƵŶĚĞƌůLJŝŶŐĂƐƐĞƚŝƐŽĨůŽǁǀĂůƵĞ͘ůĞƐƐĞĞŝƐƌĞƋƵŝƌĞĚƚŽƌĞĐŽŐŶŝƐĞĂƌŝŐŚƚͲŽĨͲƵƐĞĂƐƐĞƚ
ƌĞƉƌĞƐĞŶƟŶŐŝƚƐƌŝŐŚƚƚŽƵƐĞƚŚĞƵŶĚĞƌůLJŝŶŐůĞĂƐĞĚĂƐƐĞƚĂŶĚĂůĞĂƐĞůŝĂďŝůŝƚLJƌĞƉƌĞƐĞŶƟŶŐŝƚƐŽďůŝŐĂƟŽŶƚŽŵĂŬĞ
ůĞĂƐĞƉĂLJŵĞŶƚƐ͘ƉƌĞůŝŵŝŶĂƌLJĂƐƐĞƐƐŵĞŶƚŚĂƐŝŶĚŝĐĂƚĞĚƚŚĂƚĂĚŽƉƟŽŶŽĨƚŚŝƐƐƚĂŶĚĂƌĚǁŽƵůĚŚĂǀĞĂŵĂƚĞƌŝĂů
ŝŵƉĂĐƚŽŶƚŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůƉŽƐŝƟŽŶǁŝƚŚƚŚĞƌĞĐŽŐŶŝƟŽŶŽĨƌŝŐŚƚͲŽĨͲƵƐĞĂƐƐĞƚƐĂŶĚůĞĂƐĞůŝĂďŝůŝƟĞƐ͘

ŝǀ͘ EĞǁƐƚĂŶĚĂƌĚƐ͕ĂŵĞŶĚŵĞŶƚƐƚŽĞdžŝƐƟŶŐƐƚĂŶĚĂƌĚƐĂŶĚŝŶƚĞƌƉƌĞƚĂƟŽŶƐƚŽĞdžŝƐƟŶŐƐƚĂŶĚĂƌĚƐĨŽƌǁŚŝĐŚƚŚĞ'ƌŽƵƉĂŶĚ
ƚŚĞŽŵƉĂŶLJĂƌĞƐƟůůĂƐƐĞƐƐŝŶŐƚŚĞŝƌŝŵƉĂĐƚƚŽƚŚĞ'ƌŽƵƉ͛ƐĂŶĚƚŚĞŽŵƉĂŶLJ͛ƐĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶƚŚĞLJĞĂƌŽĨŝŶŝƟĂů
ĂƉƉůŝĐĂƟŽŶ͗

īĞĐƟǀĞĨŽƌĂŶŶƵĂůƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌϭ:ĂŶƵĂƌLJϮϬϭϵ
ͻ //ŶƚĞƌƉƌĞƚĂƟŽŶϮϯʹhŶĐĞƌƚĂŝŶƚLJŽǀĞƌ/ŶĐŽŵĞdĂdždƌĞĂƚŵĞŶƚƐ

īĞĐƟǀĞĨŽƌĂŶŶƵĂůƉĞƌŝŽĚƐďĞŐŝŶŶŝŶŐŽŶŽƌĂŌĞƌϭ:ĂŶƵĂƌLJϮϬϮϭ
ͻ D&Z^ϭϳʹ/ŶƐƵƌĂŶĐĞŽŶƚƌĂĐƚƐ

Đ͘ dŚĞĞīĞĐƟǀĞĚĂƚĞĨŽƌƚŚĞĨŽůůŽǁŝŶŐĂŵĞŶĚŵĞŶƚƐŚĂǀĞďĞĞŶĚĞĨĞƌƌĞĚƚŽĂĚĂƚĞƚŽďĞĚĞƚĞƌŵŝŶĞĚďLJDĂůĂLJƐŝĂŶĐĐŽƵŶƟŶŐ
^ƚĂŶĚĂƌĚƐŽĂƌĚ

ͻ ŵĞŶĚŵĞŶƚƐƚŽD&Z^ϭϬ͚ŽŶƐŽůŝĚĂƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͛ĂŶĚD&Z^ϭϮϴ͚/ŶǀĞƐƚŵĞŶƚƐŝŶƐƐŽĐŝĂƚĞƐĂŶĚ:ŽŝŶƚ
sĞŶƚƵƌĞƐͲ^ĂůĞŽƌŽŶƚƌŝďƵƟŽŶŽĨƐƐĞƚƐďĞƚǁĞĞŶĂŶ/ŶǀĞƐƚŽƌĂŶĚŝƚƐƐƐŽĐŝĂƚĞŽƌ:ŽŝŶƚsĞŶƚƵƌĞ͛

page 142 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

3 SIGNIFICANT ACCOUNTING POLICIES

 dŚĞĨŽůůŽǁŝŶŐĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐŚĂǀĞďĞĞŶĂƉƉůŝĞĚĐŽŶƐŝƐƚĞŶƚůLJŝŶĚĞĂůŝŶŐǁŝƚŚŝƚĞŵƐƚŚĂƚĂƌĞĐŽŶƐŝĚĞƌĞĚŵĂƚĞƌŝĂůŝŶƌĞůĂƟŽŶƚŽƚŚĞ
ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ĂŶĚƚŽĂůůƚŚĞĮŶĂŶĐŝĂůLJĞĂƌƐƉƌĞƐĞŶƚĞĚ͕ƵŶůĞƐƐŽƚŚĞƌǁŝƐĞƐƚĂƚĞĚ͘

Ă͘ ĂƐŝƐŽĨĐŽŶƐŽůŝĚĂƟŽŶ

 dŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĐŽŵƉƌŝƐĞƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚĂůůŝƚƐƐƵďƐŝĚŝĂƌŝĞƐŵĂĚĞƵƉƚŽƚŚĞ
ĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂŶĚĂƌĞƉƌĞƉĂƌĞĚƵƐŝŶŐƵŶŝĨŽƌŵĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĨŽƌůŝŬĞƚƌĂŶƐĂĐƟŽŶƐĂŶĚŽƚŚĞƌĞǀĞŶƚƐŝŶƐŝŵŝůĂƌ
ĐŝƌĐƵŵƐƚĂŶĐĞƐ͘

ŝ͘ ^ƵďƐŝĚŝĂƌŝĞƐ
 ^ƵďƐŝĚŝĂƌŝĞƐĂƌĞĞŶƟƟĞƐŽǀĞƌǁŚŝĐŚƚŚĞ'ƌŽƵƉŚĂƐĐŽŶƚƌŽů͘dŚĞ'ƌŽƵƉĐŽŶƚƌŽůƐĂŶĞŶƟƚLJǁŚĞŶƚŚĞ'ƌŽƵƉŚĂƐƉŽǁĞƌŽǀĞƌ
ƚŚĞĞŶƟƚLJ͕ŚĂƐĞdžƉŽƐƵƌĞƚŽŽƌƌŝŐŚƚƐƚŽǀĂƌŝĂďůĞƌĞƚƵƌŶƐĨƌŽŵŝƚƐŝŶǀŽůǀĞŵĞŶƚǁŝƚŚƚŚĞĞŶƟƚLJĂŶĚŚĂƐƚŚĞĂďŝůŝƚLJƚŽĂīĞĐƚ
ƚŚŽƐĞƌĞƚƵƌŶƐƚŚƌŽƵŐŚŝƚƐƉŽǁĞƌŽǀĞƌƚŚĞĞŶƟƚLJ͘

 ^ƵďƐŝĚŝĂƌŝĞƐĂƌĞĐŽŶƐŽůŝĚĂƚĞĚƵƐŝŶŐƚŚĞĂĐƋƵŝƐŝƟŽŶŵĞƚŚŽĚĞdžĐĞƉƚĨŽƌƚŚŽƐĞƐƵďƐŝĚŝĂƌŝĞƐĂĐƋƵŝƌĞĚƵŶĚĞƌĐŽŵŵŽŶĐŽŶƚƌŽů͘
hŶĚĞƌƚŚĞĂĐƋƵŝƐŝƟŽŶŵĞƚŚŽĚ͕ƐƵďƐŝĚŝĂƌŝĞƐĂƌĞĐŽŶƐŽůŝĚĂƚĞĚĨƌŽŵƚŚĞĚĂƚĞŽŶǁŚŝĐŚĐŽŶƚƌŽůŝƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞ'ƌŽƵƉ
ĂŶĚĚĞͲĐŽŶƐŽůŝĚĂƚĞĚĨƌŽŵƚŚĞĚĂƚĞǁŚĞŶĐŽŶƚƌŽůĐĞĂƐĞƐ͘dŚĞĐŽŶƐŝĚĞƌĂƟŽŶŝƐŵĞĂƐƵƌĞĚĂƚƚŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞĂƐƐĞƚƐ
ŐŝǀĞŶ͕ĞƋƵŝƚLJŝŶƐƚƌƵŵĞŶƚƐŝƐƐƵĞĚĂŶĚůŝĂďŝůŝƟĞƐŝŶĐƵƌƌĞĚĂƚƚŚĞĚĂƚĞŽĨĞdžĐŚĂŶŐĞ͘

 ŽŶƟŶŐĞŶƚĐŽŶƐŝĚĞƌĂƟŽŶŝƐƌĞĐŽƌĚĞĚĂƚĨĂŝƌǀĂůƵĞĂƐĂĐŽŵƉŽŶĞŶƚŽĨƚŚĞƉƵƌĐŚĂƐĞĐŽŶƐŝĚĞƌĂƟŽŶǁŝƚŚƐƵďƐĞƋƵĞŶƚ
ĂĚũƵƐƚŵĞŶƚƌĞƐƵůƟŶŐĨƌŽŵĞǀĞŶƚƐĂŌĞƌƚŚĞĂĐƋƵŝƐŝƟŽŶĚĂƚĞƚĂŬĞŶƚŽƉƌŽĮƚŽƌůŽƐƐ͘ĐƋƵŝƐŝƟŽŶƌĞůĂƚĞĚĐŽƐƚƐĂƌĞ
ƌĞĐŽŐŶŝƐĞĚĂƐĞdžƉĞŶƐĞƐǁŚĞŶŝŶĐƵƌƌĞĚ͘

 džŝƐƟŶŐĞƋƵŝƚLJŝŶƚĞƌĞƐƚƐŝŶƚŚĞĂĐƋƵŝƌĞĞĂƌĞƌĞͲŵĞĂƐƵƌĞĚƚŽĨĂŝƌǀĂůƵĞĂƚƚŚĞĚĂƚĞŽĨďƵƐŝŶĞƐƐĐŽŵďŝŶĂƟŽŶǁŝƚŚĂŶLJ
ƌĞƐƵůƟŶŐŐĂŝŶŽƌůŽƐƐƚĂŬĞŶƚŽƚŚĞƉƌŽĮƚŽƌůŽƐƐ͘

 /ĚĞŶƟĮĂďůĞĂƐƐĞƚƐ͕ůŝĂďŝůŝƟĞƐĂŶĚĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐĂƐƐƵŵĞĚŝŶĂďƵƐŝŶĞƐƐĐŽŵďŝŶĂƟŽŶĂƌĞŵĞĂƐƵƌĞĚĂƚƚŚĞŝƌĨĂŝƌ
ǀĂůƵĞƐ͕ĂƚƚŚĞĚĂƚĞŽĨĂĐƋƵŝƐŝƟŽŶ͘dŚĞĞdžĐĞƐƐŽĨƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶĂŶĚƚŚĞĨĂŝƌǀĂůƵĞŽĨƉƌĞǀŝŽƵƐůLJŚĞůĚĞƋƵŝƚLJŝŶƚĞƌĞƐƚƐ
ŽǀĞƌƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨƚŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞŝĚĞŶƟĮĂďůĞŶĞƚĂƐƐĞƚƐĂĐƋƵŝƌĞĚĂƚƚŚĞĚĂƚĞŽĨĂĐƋƵŝƐŝƟŽŶŝƐƌĞŇĞĐƚĞĚĂƐ
ŐŽŽĚǁŝůů͘ŶLJŐĂŝŶĨƌŽŵďĂƌŐĂŝŶƉƵƌĐŚĂƐĞŝƐƌĞĐŽŐŶŝƐĞĚĚŝƌĞĐƚůLJŝŶƉƌŽĮƚŽƌůŽƐƐ͘

 /ŶƚĞƌĐŽŵƉĂŶLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐĂƌĞĞůŝŵŝŶĂƚĞĚŽŶĐŽŶƐŽůŝĚĂƟŽŶ͕ďƵƚƵŶƌĞĂůŝƐĞĚůŽƐƐĞƐĂƌŝƐŝŶŐƚŚĞƌĞĨƌŽŵĂƌĞ
ĞůŝŵŝŶĂƚĞĚŽŶůLJƚŽƚŚĞĞdžƚĞŶƚŽĨƚŚĞĐŽƐƚŽĨƚŚĞĂƐƐĞƚƚŚĂƚĐĂŶďĞƌĞĐŽǀĞƌĞĚ͕ĂŶĚƚŚĞďĂůĂŶĐĞŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉƌŽĮƚŽƌ
ůŽƐƐĂƐƌĞĚƵĐƟŽŶŝŶŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞŽƌĂƐŝŵƉĂŝƌŵĞŶƚůŽƐƐ͘

 EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐŝŶƚŚĞƌĞƐƵůƚƐĂŶĚŶĞƚĂƐƐĞƚƐŽĨŶŽŶͲǁŚŽůůLJŽǁŶĞĚƐƵďƐŝĚŝĂƌŝĞƐĂƌĞƉƌĞƐĞŶƚĞĚƐĞƉĂƌĂƚĞůLJŝŶƚŚĞ
ĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐǁŝƚŚŽƵƚĂĐŚĂŶŐĞŝŶĐŽŶƚƌŽůĂƌĞƚƌĞĂƚĞĚĂƐ
ĞƋƵŝƚLJƚƌĂŶƐĂĐƟŽŶƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚLJ͘

 tŚĞŶĐŽŶƚƌŽůĐĞĂƐĞƐ͕ƚŚĞĚŝƐƉŽƐĂůƉƌŽĐĞĞĚƐĂŶĚƚŚĞĨĂŝƌǀĂůƵĞŽĨĂŶLJƌĞƚĂŝŶĞĚŝŶǀĞƐƚŵĞŶƚĂƌĞĐŽŵƉĂƌĞĚƚŽƚŚĞ'ƌŽƵƉ͛Ɛ
ƐŚĂƌĞŽĨƚŚĞŶĞƚĂƐƐĞƚƐĚŝƐƉŽƐĞĚ͘dŚĞĚŝīĞƌĞŶĐĞƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨĂůůŽĐĂƚĞĚŐŽŽĚǁŝůůĂŶĚƚŚĞ
ĞdžĐŚĂŶŐĞƌĞƐĞƌǀĞƚŚĂƚƌĞůĂƚĞƚŽƚŚĞƐƵďƐŝĚŝĂƌLJŝƐƌĞĐŽŐŶŝƐĞĚĂƐŐĂŝŶŽƌůŽƐƐŽŶĚŝƐƉŽƐĂů͘

ANNUAL REPORT 2018 page 143

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Ă͘ ĂƐŝƐŽĨĐŽŶƐŽůŝĚĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ ƵƐŝŶĞƐƐĐŽŵďŝŶĂƟŽŶƐƵŶĚĞƌĐŽŵŵŽŶĐŽŶƚƌŽů
 ƵƐŝŶĞƐƐĐŽŵďŝŶĂƟŽŶƐƵŶĚĞƌĐŽŵŵŽŶĐŽŶƚƌŽůĂƌĞĂĐĐŽƵŶƚĞĚƵƐŝŶŐƚŚĞƉƌĞĚĞĐĞƐƐŽƌŵĞƚŚŽĚŽĨŵĞƌŐĞƌĂĐĐŽƵŶƟŶŐǁŚĞƌĞ
ƚŚĞƉƌŽĮƚŽƌůŽƐƐĂŶĚŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞŝŶĐůƵĚĞƚŚĞƌĞƐƵůƚƐŽĨĞĂĐŚŽĨƚŚĞĐŽŵďŝŶŝŶŐĞŶƟƟĞƐĨƌŽŵƚŚĞĞĂƌůŝĞƐƚ
ĚĂƚĞƉƌĞƐĞŶƚĞĚŽƌĨƌŽŵƚŚĞĚĂƚĞǁŚĞŶƚŚĞƐĞĞŶƟƟĞƐĐĂŵĞƵŶĚĞƌƚŚĞĐŽŶƚƌŽůŽĨƚŚĞĐŽŵŵŽŶĐŽŶƚƌŽůůŝŶŐƉĂƌƚLJ;ŝĨůĂƚĞƌͿ͘

 dŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐŽĨƚŚĞĐŽŵďŝŶŝŶŐĞŶƟƟĞƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌďĂƐĞĚŽŶƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐĨƌŽŵƚŚĞ
ƉĞƌƐƉĞĐƟǀĞŽĨƚŚĞĐŽŵŵŽŶĐŽŶƚƌŽůůŝŶŐƉĂƌƚLJ͕ŽƌƚŚĞĐŽŵďŝŶŝŶŐĞŶƟƟĞƐŝĨƚŚĞĐŽŵŵŽŶĐŽŶƚƌŽůůŝŶŐƉĂƌƚLJĚŽĞƐŶŽƚƉƌĞƉĂƌĞ
ĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

 dŚĞĚŝīĞƌĞŶĐĞŝŶĐŽƐƚŽĨĂĐƋƵŝƐŝƟŽŶŽǀĞƌƚŚĞĂŐŐƌĞŐĂƚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐŽĨƚŚĞĐŽŵďŝŶŝŶŐ
ĞŶƟƟĞƐĂƐŽĨƚŚĞĚĂƚĞŽĨƚŚĞĐŽŵďŝŶĂƟŽŶŝƐƚĂŬĞŶƚŽĞƋƵŝƚLJ͘dƌĂŶƐĂĐƟŽŶĐŽƐƚĨŽƌƚŚĞĐŽŵďŝŶĂƟŽŶŝƐƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚ
ŽƌůŽƐƐ͘

 ^ŝŵŝůĂƌƚƌĞĂƚŵĞŶƚĂƉƉůŝĞƐŝŶƚŚĞŽŵƉĂŶLJ͛ƐƐĞƉĂƌĂƚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐǁŚĞŶĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐƌĞƉƌĞƐĞŶƟŶŐ
ƚŚĞƵŶĚĞƌůLJŝŶŐďƵƐŝŶĞƐƐĞƐƵŶĚĞƌĐŽŵŵŽŶĐŽŶƚƌŽůĂƌĞĚŝƌĞĐƚůLJĂĐƋƵŝƌĞĚďLJƚŚĞŽŵƉĂŶLJ͘/ŶĂĐĐŽƵŶƟŶŐĨŽƌďƵƐŝŶĞƐƐ
ĐŽŵďŝŶĂƟŽŶƐŝŶƚŚĞŽŵƉĂŶLJ͛ƐƐĞƉĂƌĂƚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ƚŚĞĞdžĐĞƐƐŽĨƚŚĞĐŽƐƚŽĨĂĐƋƵŝƐŝƟŽŶŽǀĞƌƚŚĞĂŐŐƌĞŐĂƚĞ
ĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐŽĨĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƐŽĨƚŚĞĚĂƚĞŽĨƚŚĞĐŽŵďŝŶĂƟŽŶŝƐƚĂŬĞŶƚŽĞƋƵŝƚLJ͘

ŝŝŝ͘ :ŽŝŶƚǀĞŶƚƵƌĞƐ
 :ŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞƐĞƉĂƌĂƚĞǀĞŚŝĐůĞƐŝŶǁŚŝĐŚƚŚĞ'ƌŽƵƉŚĂƐƌŝŐŚƚƐƚŽŝƚƐŶĞƚĂƐƐĞƚƐĂŶĚǁŚĞƌĞƚŚĞŝƌƐƚƌĂƚĞŐŝĐ͕ĮŶĂŶĐŝĂůĂŶĚ
ŽƉĞƌĂƟŶŐĚĞĐŝƐŝŽŶƐƌĞƋƵŝƌĞƵŶĂŶŝŵŽƵƐĐŽŶƐĞŶƚŽĨƚŚĞ'ƌŽƵƉĂŶĚŽŶĞŽƌŵŽƌĞƉĂƌƟĞƐƐŚĂƌŝŶŐƚŚĞĐŽŶƚƌŽů͘

 :ŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĂĐĐŽƵŶƚĞĚƵƐŝŶŐƚŚĞĞƋƵŝƚLJŵĞƚŚŽĚ͘ƋƵŝƚLJŵĞƚŚŽĚŝƐĂŵĞƚŚŽĚŽĨĂĐĐŽƵŶƟŶŐǁŚĞƌĞďLJƚŚĞŝŶǀĞƐƚŵĞŶƚ
ŝƐƌĞĐŽƌĚĞĚĂƚĐŽƐƚŝŶĐůƵƐŝǀĞŽĨŐŽŽĚǁŝůůĂŶĚĂĚũƵƐƚĞĚƚŚĞƌĞĂŌĞƌĨŽƌƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨƚŚĞƉŽƐƚͲĂĐƋƵŝƐŝƟŽŶƌĞƐƵůƚƐĂŶĚ
ŽƚŚĞƌĐŚĂŶŐĞƐŝŶƚŚĞŶĞƚĂƐƐĞƚƐŽĨƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐďĂƐĞĚŽŶƚŚĞŝƌůĂƚĞƐƚĂƵĚŝƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽƌŵĂŶĂŐĞŵĞŶƚ
ĂĐĐŽƵŶƚƐ͘tŚĞƌĞŶĞĐĞƐƐĂƌLJ͕ĂĚũƵƐƚŵĞŶƚƐĂƌĞŵĂĚĞƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐƵƐĞĚďLJƚŚĞ'ƌŽƵƉŝŶ
ĂƉƉůLJŝŶŐƚŚĞĞƋƵŝƚLJŵĞƚŚŽĚƚŽĞŶƐƵƌĞĐŽŶƐŝƐƚĞŶĐLJŽĨĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐǁŝƚŚƚŚŽƐĞŽĨƚŚĞ'ƌŽƵƉ͘

 ŌĞƌĂƉƉůŝĐĂƟŽŶŽĨƚŚĞĞƋƵŝƚLJŵĞƚŚŽĚ͕ƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐǁŝůůďĞĂƐƐĞƐƐĞĚĨŽƌŝŵƉĂŝƌŵĞŶƚ͘tŚĞŶ
ƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞŽĨůŽƐƐĞƐŝŶũŽŝŶƚǀĞŶƚƵƌĞĞƋƵĂůƐŽƌĞdžĐĞĞĚƐŝƚƐŝŶƚĞƌĞƐƚƐŝŶƚŚĞũŽŝŶƚǀĞŶƚƵƌĞ͕ŝŶĐůƵĚŝŶŐĂŶLJůŽŶŐͲƚĞƌŵ
ŝŶƚĞƌĞƐƚƐƚŚĂƚ͕ŝŶƐƵďƐƚĂŶĐĞ͕ĨŽƌŵƉĂƌƚŽĨƚŚĞ'ƌŽƵƉ͛ƐŶĞƚŝŶǀĞƐƚŵĞŶƚŝŶƚŚĞũŽŝŶƚǀĞŶƚƵƌĞ͕ƚŚĞ'ƌŽƵƉĚŽĞƐŶŽƚƌĞĐŽŐŶŝƐĞ
ĨƵƌƚŚĞƌůŽƐƐĞƐ͕ƵŶůĞƐƐƚŚĞ'ƌŽƵƉŚĂƐŝŶĐƵƌƌĞĚůĞŐĂůŽƌĐŽŶƐƚƌƵĐƟǀĞŽďůŝŐĂƟŽŶƐŝŶƌĞƐƉĞĐƚŽĨƚŚĞũŽŝŶƚǀĞŶƚƵƌĞ͘

 hŶƌĞĂůŝƐĞĚŐĂŝŶƐŽŶƚƌĂŶƐĂĐƟŽŶƐďĞƚǁĞĞŶƚŚĞ'ƌŽƵƉĂŶĚŝƚƐũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĞůŝŵŝŶĂƚĞĚƚŽƚŚĞĞdžƚĞŶƚŽĨƚŚĞ'ƌŽƵƉ͛Ɛ
ŝŶƚĞƌĞƐƚŝŶƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐ͘hŶƌĞĂůŝƐĞĚůŽƐƐĞƐĂƌĞĂůƐŽĞůŝŵŝŶĂƚĞĚŽŶƚŚĞƐĂŵĞďĂƐŝƐďƵƚŽŶůLJƚŽƚŚĞĞdžƚĞŶƚŽĨƚŚĞĐŽƐƚƐ
ƚŚĂƚĐĂŶďĞƌĞĐŽǀĞƌĞĚ͕ĂŶĚƚŚĞďĂůĂŶĐĞƚŚĂƚƉƌŽǀŝĚĞƐĞǀŝĚĞŶĐĞŽĨƌĞĚƵĐƟŽŶŝŶŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞŽƌĂŶŝŵƉĂŝƌŵĞŶƚŽĨ
ƚŚĞĂƐƐĞƚƐƚƌĂŶƐĨĞƌƌĞĚĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘

 tŚĞŶũŽŝŶƚĐŽŶƚƌŽůĐĞĂƐĞƐ͕ƚŚĞĚŝƐƉŽƐĂůƉƌŽĐĞĞĚƐĂŶĚƚŚĞĨĂŝƌǀĂůƵĞŽĨĂŶLJƌĞƚĂŝŶĞĚŝŶǀĞƐƚŵĞŶƚĂƌĞĐŽŵƉĂƌĞĚƚŽƚŚĞ
ĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞũŽŝŶƚǀĞŶƚƵƌĞ͘dŚĞĚŝīĞƌĞŶĐĞƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞĐƵŵƵůĂƟǀĞĞdžĐŚĂŶŐĞƌĞƐĞƌǀĞƚŚĂƚƌĞůĂƚĞƚŽ
ƚŚĞũŽŝŶƚǀĞŶƚƵƌĞŝƐƌĞĐŽŐŶŝƐĞĚĂƐŐĂŝŶŽƌůŽƐƐŽŶĚŝƐƉŽƐĂů͘/ŶƚŚĞĐĂƐĞŽĨƉĂƌƟĂůĚŝƐƉŽƐĂůǁŝƚŚŽƵƚůŽƐŝŶŐũŽŝŶƚĐŽŶƚƌŽů͕
ƚŚĞĚŝīĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞƉƌŽĐĞĞĚƐĂŶĚƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚĚŝƐƉŽƐĞĚ͕ĂŶĚƚŚĞƉƌŽƉŽƌƟŽŶĂƚĞĞdžĐŚĂŶŐĞƌĞƐĞƌǀĞŝƐ
ƌĞĐŽŐŶŝƐĞĚĂƐŐĂŝŶŽƌůŽƐƐŽŶĚŝƐƉŽƐĂů͘

page 144 SIME DARBY BERHAD

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Ă͘ ĂƐŝƐŽĨĐŽŶƐŽůŝĚĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ

ŝǀ͘ Associates
 ƐƐŽĐŝĂƚĞƐĂƌĞĞŶƟƟĞƐŝŶǁŚŝĐŚƚŚĞ'ƌŽƵƉŝƐŝŶĂƉŽƐŝƟŽŶƚŽĞdžĞƌĐŝƐĞƐŝŐŶŝĮĐĂŶƚŝŶŇƵĞŶĐĞ͘^ŝŐŶŝĮĐĂŶƚŝŶŇƵĞŶĐĞŝƐƚŚĞ
ƉŽǁĞƌƚŽƉĂƌƟĐŝƉĂƚĞŝŶƚŚĞĮŶĂŶĐŝĂůĂŶĚŽƉĞƌĂƟŶŐƉŽůŝĐLJĚĞĐŝƐŝŽŶƐ͕ďƵƚŶŽƚĐŽŶƚƌŽůŽǀĞƌƚŚŽƐĞƉŽůŝĐŝĞƐ͘

 /ŶǀĞƐƚŵĞŶƚƐŝŶĂƐƐŽĐŝĂƚĞƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌƵƐŝŶŐƚŚĞĞƋƵŝƚLJŵĞƚŚŽĚ͕ƐŝŵŝůĂƌƚŽEŽƚĞϯ;ĂͿ;ŝŝŝͿ͘

ď͘ &ŽƌĞŝŐŶĐƵƌƌĞŶĐŝĞƐ

ŝ͘ WƌĞƐĞŶƚĂƟŽŶĂŶĚĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐ
 ZŝŶŐŐŝƚDĂůĂLJƐŝĂŝƐƚŚĞƉƌĞƐĞŶƚĂƟŽŶĐƵƌƌĞŶĐLJŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͘ZŝŶŐŐŝƚDĂůĂLJƐŝĂŝƐĂůƐŽƚŚĞĨƵŶĐƟŽŶĂů
ĐƵƌƌĞŶĐLJŽĨƚŚĞŽŵƉĂŶLJ͘dŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJŝƐƚŚĞĐƵƌƌĞŶĐLJŽĨƚŚĞƉƌŝŵĂƌLJĞĐŽŶŽŵŝĐĞŶǀŝƌŽŶŵĞŶƚŝŶǁŚŝĐŚƚŚĞ
ŽŵƉĂŶLJŽƉĞƌĂƚĞƐ͘dŚĞ'ƌŽƵƉ͛ƐĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶƐŚĂǀĞĚŝīĞƌĞŶƚĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐ͘

ŝŝ͘ dƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐ
 &ŽƌĞŝŐŶĐƵƌƌĞŶĐLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚŵŽŶĞƚĂƌLJŝƚĞŵƐĂƌĞƚƌĂŶƐůĂƚĞĚŝŶƚŽƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJƵƐŝŶŐƚŚĞĞdžĐŚĂŶŐĞƌĂƚĞƐ
ƉƌĞǀĂŝůŝŶŐĂƚƚŚĞƚƌĂŶƐĂĐƟŽŶĚĂƚĞƐĂŶĚĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ƌĞƐƉĞĐƟǀĞůLJ͘&ŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ
ĂƌŝƐŝŶŐƚŚĞƌĞĨƌŽŵĂŶĚŽŶƐĞƩůĞŵĞŶƚĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘

 &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐĨƌŽŵƚŚĞƚƌĂŶƐůĂƟŽŶŽĨĂŵŽŶĞƚĂƌLJŝƚĞŵĚĞƐŝŐŶĂƚĞĚĂƐĂŚĞĚŐĞŽĨŶĞƚŝŶǀĞƐƚŵĞŶƚŝŶ
ĂĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶŝƐƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞŝŶƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƵŶƟůƚŚĞŶĞƚ
ŝŶǀĞƐƚŵĞŶƚŝƐĚŝƐƉŽƐĞĚ͘

ŝŝŝ͘ dƌĂŶƐůĂƟŽŶŽĨĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ
 &ŽƌĐŽŶƐŽůŝĚĂƟŽŶƉƵƌƉŽƐĞƐ͕ƚŚĞĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶƐ͛ƌĞƐƵůƚƐĂƌĞƚƌĂŶƐůĂƚĞĚŝŶƚŽƚŚĞ'ƌŽƵƉ͛ƐƉƌĞƐĞŶƚĂƟŽŶĐƵƌƌĞŶĐLJ
ĂƚĂǀĞƌĂŐĞĞdžĐŚĂŶŐĞƌĂƚĞƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌǁŚŝůƐƚƚŚĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐ͕ŝŶĐůƵĚŝŶŐŐŽŽĚǁŝůůĂŶĚĨĂŝƌǀĂůƵĞ
ĂĚũƵƐƚŵĞŶƚƐĂƌŝƐŝŶŐŽŶĐŽŶƐŽůŝĚĂƟŽŶ͕ĂƌĞƚƌĂŶƐůĂƚĞĚĂƚĞdžĐŚĂŶŐĞƌĂƚĞƐƌƵůŝŶŐĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘dŚĞ
ƌĞƐƵůƟŶŐƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĂŶĚĂĐĐƵŵƵůĂƚĞĚŝŶĞdžĐŚĂŶŐĞƌĞƐĞƌǀĞ͘

 /ŶƚĞƌĐŽŵƉĂŶLJůŽĂŶƐǁŚĞƌĞƐĞƩůĞŵĞŶƚŝƐŶĞŝƚŚĞƌƉůĂŶŶĞĚŶŽƌůŝŬĞůLJƚŽŽĐĐƵƌŝŶƚŚĞĨŽƌĞƐĞĞĂďůĞĨƵƚƵƌĞ͕ĂƌĞƚƌĞĂƚĞĚĂƐƉĂƌƚ
ŽĨƚŚĞŶĞƚŝŶǀĞƐƚŵĞŶƚŝŶƚŚĞƐƵďƐŝĚŝĂƌLJ͘dƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐƚŚĞƌĞĨƌŽŵĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ
ŝŶĐŽŵĞĂŶĚƌĞĐůĂƐƐŝĮĞĚĨƌŽŵĞƋƵŝƚLJƚŽƉƌŽĮƚŽƌůŽƐƐƵƉŽŶƌĞƉĂLJŵĞŶƚŽƌĚŝƐƉŽƐĂůŽĨƚŚĞƌĞůĞǀĂŶƚĞŶƟƚLJ͘

 džĐŚĂŶŐĞƌĞƐĞƌǀĞŝŶƌĞƐƉĞĐƚŽĨĂĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶŝƐƌĞĐŽŐŶŝƐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐǁŚĞŶĐŽŶƚƌŽů͕ũŽŝŶƚĐŽŶƚƌŽůŽƌƐŝŐŶŝĮĐĂŶƚ
ŝŶŇƵĞŶĐĞŽǀĞƌƚŚĞĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶŝƐůŽƐƚ͘KŶƉĂƌƟĂůĚŝƐƉŽƐĂůǁŝƚŚŽƵƚůŽƐŝŶŐĐŽŶƚƌŽů͕ĂƉƌŽƉŽƌƟŽŶŽĨƚŚĞĞdžĐŚĂŶŐĞ
ƌĞƐĞƌǀĞŝŶƌĞƐƉĞĐƚŽĨƚŚĞƐƵďƐŝĚŝĂƌLJŝƐƌĞͲĂƩƌŝďƵƚĞĚƚŽƚŚĞŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚ͘dŚĞƉƌŽƉŽƌƟŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞ
ĐƵŵƵůĂƟǀĞƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐŝƐƌĞĐůĂƐƐŝĮĞĚƚŽƉƌŽĮƚŽƌůŽƐƐŝŶƌĞƐƉĞĐƚŽĨĂůůŽƚŚĞƌƉĂƌƟĂůĚŝƐƉŽƐĂůƐ͘

ANNUAL REPORT 2018 page 145

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Đ͘ WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ

 WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚĂƌĞƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶĂŶĚĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘ŽƐƚ
ŝŶĐůƵĚĞƐĞdžƉĞŶĚŝƚƵƌĞƚŚĂƚŝƐĚŝƌĞĐƚůLJĂƩƌŝďƵƚĂďůĞƚŽƚŚĞĂĐƋƵŝƐŝƟŽŶŽĨĂŶĂƐƐĞƚ͘dŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞƌĞƉůĂĐĞĚƉĂƌƚŝƐ
ĚĞƌĞĐŽŐŶŝƐĞĚĂŶĚĂůůƌĞƉĂŝƌƐĂŶĚŵĂŝŶƚĞŶĂŶĐĞĐŽƐƚƐĂƌĞĐŚĂƌŐĞĚƚŽƚŚĞƉƌŽĮƚŽƌůŽƐƐ͘

 &ƌĞĞŚŽůĚůĂŶĚŝƐŶŽƚĚĞƉƌĞĐŝĂƚĞĚĂƐŝƚŚĂƐŝŶĚĞĮŶŝƚĞůŝĨĞ͘KƚŚĞƌƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚĂƌĞĚĞƉƌĞĐŝĂƚĞĚŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞ
ďĂƐŝƐƚŽǁƌŝƚĞĚŽǁŶƚŚĞĐŽƐƚŽĨĞĂĐŚĂƐƐĞƚƚŽƚŚĞŝƌƌĞƐŝĚƵĂůǀĂůƵĞƐŽǀĞƌƚŚĞŝƌĞƐƟŵĂƚĞĚƵƐĞĨƵůůŝǀĞƐ͘

dŚĞƉƌŝŶĐŝƉĂůĂŶŶƵĂůĚĞƉƌĞĐŝĂƟŽŶƌĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

>ĞĂƐĞŚŽůĚůĂŶĚ ŽǀĞƌƚŚĞůĞĂƐĞƉĞƌŝŽĚƌĂŶŐŝŶŐĨƌŽŵϯϬƚŽϵϵLJĞĂƌƐ
ƵŝůĚŝŶŐƐ ϮйƚŽϮϬй͕ŽƌŽǀĞƌƚŚĞůĞĂƐĞƚĞƌŵŝĨƐŚŽƌƚĞƌ
WůĂŶƚĂŶĚŵĂĐŚŝŶĞƌLJ ϮйƚŽϯϯ͘ϯй
ZĞŶƚĂůĂƐƐĞƚƐ ϭϬйƚŽϯϯ͘ϯй
sĞŚŝĐůĞƐ͕ĞƋƵŝƉŵĞŶƚĂŶĚĮdžƚƵƌĞƐ ϱйƚŽϯϯ͘ϯй

dŚĞĂƐƐĞƚƐ͛ƌĞƐŝĚƵĂůǀĂůƵĞƐĂŶĚƵƐĞĨƵůůŝǀĞƐĂƌĞƌĞǀŝĞǁĞĚ͕ĂŶĚĂĚũƵƐƚĞĚŝĨĂƉƉƌŽƉƌŝĂƚĞ͕ĂŶŶƵĂůůLJ͘

ZĞŶƚĂůĂƐƐĞƚƐǁŝůůďĞƚƌĂŶƐĨĞƌƌĞĚƚŽŝŶǀĞŶƚŽƌŝĞƐĂƚƚŚĞŝƌĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐǁŚĞŶƚŚĞLJĐĞĂƐĞƚŽďĞƌĞŶƚĞĚĂŶĚĂƌĞŚĞůĚĨŽƌƐĂůĞ͘

Ě͘ WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ

 WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐƌĞƉƌĞƐĞŶƚƉĂLJŵĞŶƚĨŽƌƌŝŐŚƚƐƚŽƵƐĞůĂŶĚŽƌƐĞĂŽǀĞƌĂƉƌĞĚĞƚĞƌŵŝŶĞĚƉĞƌŝŽĚƚŚĂƚŝƐĂĐĐŽƵŶƚĞĚĨŽƌĂƐĂŶ
ŽƉĞƌĂƟŶŐůĞĂƐĞĂŶĚŝƐƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐĂŵŽƵŶƚĂŵŽƌƟƐĞĚĂŶĚĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘

 dŚĞƉƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐĂƌĞĂŵŽƌƟƐĞĚŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐŽǀĞƌƚŚĞůĞĂƐĞƉĞƌŝŽĚƌĂŶŐŝŶŐĨƌŽŵϵƚŽϳϭLJĞĂƌƐ͘

Ğ͘ /ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ

 /ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐĂƌĞůĂŶĚĂŶĚďƵŝůĚŝŶŐƐŚĞůĚĨŽƌƌĞŶƚĂůŝŶĐŽŵĞĂŶĚͬŽƌĐĂƉŝƚĂůĂƉƉƌĞĐŝĂƟŽŶǁŚŝĐŚĂƌĞŶŽƚƐŝŐŶŝĮĐĂŶƚůLJ
ŽĐĐƵƉŝĞĚŽƌŝŶƚĞŶĚĞĚƚŽďĞŽĐĐƵƉŝĞĚĨŽƌƵƐĞďLJ͕ŽƌŝŶƚŚĞŽƉĞƌĂƟŽŶƐŽĨƚŚĞ'ƌŽƵƉ͘

 /ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐĂƌĞƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐĂĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶĂŶĚĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘&ƌĞĞŚŽůĚůĂŶĚĂŶĚ
ďƵŝůĚŝŶŐƐƵŶĚĞƌĐŽŶƐƚƌƵĐƟŽŶĂƌĞŶŽƚĚĞƉƌĞĐŝĂƚĞĚ͘KƚŚĞƌŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐĂƌĞĚĞƉƌĞĐŝĂƚĞĚŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐƚŽǁƌŝƚĞ
ĚŽǁŶƚŚĞĐŽƐƚŽĨĞĂĐŚĂƐƐĞƚƚŽƚŚĞŝƌƌĞƐŝĚƵĂůǀĂůƵĞƐŽǀĞƌƚŚĞŝƌĞƐƟŵĂƚĞĚƵƐĞĨƵůůŝǀĞƐ͘

dŚĞƉƌŝŶĐŝƉĂůĂŶŶƵĂůĚĞƉƌĞĐŝĂƟŽŶƌĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

>ĞĂƐĞŚŽůĚůĂŶĚ ŽǀĞƌƚŚĞůĞĂƐĞƉĞƌŝŽĚƌĂŶŐŝŶŐĨƌŽŵϱϬƚŽϵϵLJĞĂƌƐ
ƵŝůĚŝŶŐƐ ϮйƚŽϱй͕ŽƌŽǀĞƌƚŚĞůĞĂƐĞƚĞƌŵŝĨƐŚŽƌƚĞƌ

dŚĞĂƐƐĞƚƐ͛ƌĞƐŝĚƵĂůǀĂůƵĞƐĂŶĚƵƐĞĨƵůůŝǀĞƐĂƌĞƌĞǀŝĞǁĞĚ͕ĂŶĚĂĚũƵƐƚĞĚŝĨĂƉƉƌŽƉƌŝĂƚĞ͕ĂŶŶƵĂůůLJ͘

Ĩ͘ /ŶǀĞƐƚŵĞŶƚƐŝŶƐƵďƐŝĚŝĂƌŝĞƐ

 /ŶǀĞƐƚŵĞŶƚƐŝŶƐƵďƐŝĚŝĂƌŝĞƐĂŶĚĐŽŶƚƌŝďƵƟŽŶƚŽƐƵďƐŝĚŝĂƌŝĞƐĂƌĞƌĞĐŽƌĚĞĚĂƚĐŽƐƚƐůĞƐƐĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͕ŝĨĂŶLJ͕ŝŶ
ƚŚĞŽŵƉĂŶLJ͛ƐĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

 ŽŶƚƌŝďƵƟŽŶƐƚŽƐƵďƐŝĚŝĂƌŝĞƐĂƌĞĂŵŽƵŶƚƐǁŚŝĐŚƚŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚĞdžƉĞĐƚƌĞƉĂLJŵĞŶƚŝŶƚŚĞĨŽƌĞƐĞĞĂďůĞĨƵƚƵƌĞĂŶĚĂƌĞ
ĐŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨƚŚĞŽŵƉĂŶLJ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶƚŚĞƐƵďƐŝĚŝĂƌŝĞƐ͘

page 146 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Ő͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐ

ŝ͘ 'ŽŽĚǁŝůů
 'ŽŽĚǁŝůůƌĞƉƌĞƐĞŶƚƐƚŚĞĞdžĐĞƐƐŽĨƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶĂŶĚƚŚĞĨĂŝƌǀĂůƵĞŽĨƉƌĞǀŝŽƵƐůLJŚĞůĚŝŶƚĞƌĞƐƚƐŽǀĞƌƚŚĞ'ƌŽƵƉ͛ƐƐŚĂƌĞ
ŽĨƚŚĞĨĂŝƌǀĂůƵĞŽĨŝĚĞŶƟĮĂďůĞĂƐƐĞƚƐ͕ůŝĂďŝůŝƟĞƐĂŶĚĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐŽĨƚŚĞĂĐƋƵŝƌĞĞĂƚƚŚĞĚĂƚĞŽĨĂĐƋƵŝƐŝƟŽŶ͘

 'ŽŽĚǁŝůůŝƐƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘'ŽŽĚǁŝůůŝƐĂůůŽĐĂƚĞĚƚŽĐĂƐŚͲŐĞŶĞƌĂƟŶŐƵŶŝƚƐĨŽƌƚŚĞ
ƉƵƌƉŽƐĞŽĨŝŵƉĂŝƌŵĞŶƚƚĞƐƟŶŐ͘'ŽŽĚǁŝůůŽŶĂĐƋƵŝƐŝƟŽŶŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐŝƐŝŶĐůƵĚĞĚĂƐƉĂƌƚŽĨƚŚĞĐŽƐƚŽĨ
ŝŶǀĞƐƚŵĞŶƚƐŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ͘^ƵĐŚŐŽŽĚǁŝůůŝƐƚĞƐƚĞĚĨŽƌŝŵƉĂŝƌŵĞŶƚĂƐƉĂƌƚŽĨƚŚĞŽǀĞƌĂůůŶĞƚŝŶǀĞƐƚŵĞŶƚ
ŝŶĞĂĐŚũŽŝŶƚǀĞŶƚƵƌĞĂŶĚĂƐƐŽĐŝĂƚĞ͘

ŝŝ͘ ŝƐƚƌŝďƵƟŽŶĂŶĚĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ
 ŝƐƚƌŝďƵƟŽŶĂŶĚĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐǁŝƚŚŶŽƉƌĞĚĞƚĞƌŵŝŶĞĚƐĞƌǀŝĐĞƉĞƌŝŽĚĂƌĞƐƚĂƚĞĚĂƚĐŽƐƚůĞƐƐĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚ
ůŽƐƐĞƐ͕ŝĨĂŶLJ͕ĂŶĚĂƌĞŶŽƚĂŵŽƌƟƐĞĚ͘

ŝŝŝ͘ KƚŚĞƌŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ
 KƚŚĞƌŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐŝŶĐůƵĚĞĐŽŵƉƵƚĞƌƐŽŌǁĂƌĞ͕ƚƌĂĚĞŵĂƌŬƐĂŶĚĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ͘ZĞƐĞĂƌĐŚĐŽƐƚƐĂƌĞĐŚĂƌŐĞĚ
ƚŽƚŚĞƉƌŽĮƚŽƌůŽƐƐŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌŝŶǁŚŝĐŚƚŚĞĞdžƉĞŶĚŝƚƵƌĞŝƐŝŶĐƵƌƌĞĚǁŚŝůƐƚĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐǁŚŝĐŚĨƵůĮůů
ĐŽŵŵĞƌĐŝĂůĂŶĚƚĞĐŚŶŝĐĂůĨĞĂƐŝďŝůŝƚLJĐƌŝƚĞƌŝĂĂƌĞĐĂƉŝƚĂůŝƐĞĚĂƚĐŽƐƚ͘

 dŚĞƐĞŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞĐĂƌƌŝĞĚĂƚĐŽƐƚůĞƐƐĂĐĐƵŵƵůĂƚĞĚĂŵŽƌƟƐĂƟŽŶĂŶĚĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘
ŵŽƌƟƐĂƟŽŶŝƐĐĂůĐƵůĂƚĞĚƵƐŝŶŐƚŚĞƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐŽǀĞƌƚŚĞŝƌĞƐƟŵĂƚĞĚƵƐĞĨƵůůŝǀĞƐĂŶĚĐŽŵŵĞŶĐĞƐĨƌŽŵƚŚĞĚĂƚĞŽĨ
ĐŽŵŵĞƌĐŝĂůƉƌŽĚƵĐƟŽŶŽĨƚŚĞƉƌŽĚƵĐƚƚŽǁŚŝĐŚƚŚĞĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐƌĞůĂƚĞŽƌǁŚĞŶƚŚĞŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƌĞĂĚLJ
ĨŽƌƵƐĞ͘

dŚĞĂŶŶƵĂůĂŵŽƌƟƐĂƟŽŶƌĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

ŽŵƉƵƚĞƌƐŽŌǁĂƌĞ ϭϬйƚŽϯϯ͘ϯй
dƌĂĚĞŵĂƌŬƐ ϱйƚŽϮϬй
ĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ ŽǀĞƌƚŚĞƉĞƌŝŽĚŽĨƚŚĞĞdžƉĞĐƚĞĚďĞŶĞĮƚ͕ŶŽƚĞdžĐĞĞĚŝŶŐĂƉĞƌŝŽĚŽĨϱLJĞĂƌƐ

Ś͘ ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ

 EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐŽƌŐƌŽƵƉƐŽĨĂƐƐĞƚƐĂƌĞĐůĂƐƐŝĮĞĚĂƐ͞ŚĞůĚĨŽƌƐĂůĞ͟ŝĨƚŚĞŝƌĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐǁŝůůďĞƌĞĐŽǀĞƌĞĚƉƌŝŶĐŝƉĂůůLJ
ƚŚƌŽƵŐŚĂƐĂůĞƚƌĂŶƐĂĐƟŽŶƌĂƚŚĞƌƚŚĂŶƚŚƌŽƵŐŚĐŽŶƟŶƵŝŶŐƵƐĞ͘^ŝŵŝůĂƌůLJ͕ůŝĂďŝůŝƟĞƐĚŝƌĞĐƚůLJĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĚŝƐƉŽƐĂůŐƌŽƵƉƐ
ĂƌĞĂůƐŽƉƌĞƐĞŶƚĞĚƐĞƉĂƌĂƚĞůLJĨƌŽŵŽƚŚĞƌůŝĂďŝůŝƟĞƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶ͘

 ĞƉƌĞĐŝĂƟŽŶĐĞĂƐĞƐǁŚĞŶĂŶĂƐƐĞƚŝƐĐůĂƐƐŝĮĞĚĂƐĂŶĂƐƐĞƚŚĞůĚĨŽƌƐĂůĞ͘ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞĂƌĞƐƚĂƚĞĚĂƚƚŚĞůŽǁĞƌŽĨĐĂƌƌLJŝŶŐ
ĂŵŽƵŶƚĂŶĚĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƚŽƐĞůů͘

ANNUAL REPORT 2018 page 147

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ŝ͘ /ŶǀĞŶƚŽƌŝĞƐ

 /ŶǀĞŶƚŽƌŝĞƐĂƌĞƐƚĂƚĞĚĂƚƚŚĞůŽǁĞƌŽĨĐŽƐƚĂŶĚŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞ͘dŚĞĐŽƐƚŽĨŝŶǀĞŶƚŽƌŝĞƐŝƐĚĞƚĞƌŵŝŶĞĚŽŶĂǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞ
ďĂƐŝƐĞdžĐĞƉƚĨŽƌƚŚĞĨŽůůŽǁŝŶŐ͗

 ƋƵŝƉŵĞŶƚĂŶĚŵŽƚŽƌǀĞŚŝĐůĞƐ ^ƉĞĐŝĮĐŝĚĞŶƟĮĐĂƟŽŶďĂƐŝƐ
 ZĞƉůĂĐĞŵĞŶƚƉĂƌƚƐ &ŝƌƐƚŝŶĮƌƐƚŽƵƚďĂƐŝƐ

 dŚĞĐŽƐƚŽĨƌĂǁŵĂƚĞƌŝĂůƐ͕ĐŽŶƐƵŵĂďůĞƐƚŽƌĞƐ͕ƌĞƉůĂĐĞŵĞŶƚƉĂƌƚƐĂŶĚƚƌĂĚŝŶŐŝŶǀĞŶƚŽƌŝĞƐƌĞƉƌĞƐĞŶƚƐĐŽƐƚŽĨƉƵƌĐŚĂƐĞƉůƵƐ
ŝŶĐŝĚĞŶƚĂůĐŽƐƚƐ͕ĂŶĚŝŶƚŚĞĐĂƐĞŽĨŽƚŚĞƌŝŶǀĞŶƚŽƌŝĞƐ͕ŝŶĐůƵĚĞƐĐŽƐƚŽĨŵĂƚĞƌŝĂůƐ͕ĚŝƌĞĐƚůĂďŽƵƌ͕ŽƚŚĞƌĚŝƌĞĐƚĐŽƐƚƐĂŶĚƌĞůĂƚĞĚ
ƉƌŽĚƵĐƟŽŶŽǀĞƌŚĞĂĚƐďĂƐĞĚŽŶŶŽƌŵĂůŽƉĞƌĂƟŶŐĐĂƉĂĐŝƚLJ͘EĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞŝƐƚŚĞĞƐƟŵĂƚĞĚƐĞůůŝŶŐƉƌŝĐĞŝŶƚŚĞŽƌĚŝŶĂƌLJ
ĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐ͕ůĞƐƐĐŽƐƚƚŽĐŽŵƉůĞƟŽŶĂŶĚƐĞůůŝŶŐĞdžƉĞŶƐĞƐ͘

ũ͘ &ŝŶĂŶĐŝĂůĂƐƐĞƚƐ

 dŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞĐůĂƐƐŝĮĞĚŝŶƚŽĨŽƵƌĐĂƚĞŐŽƌŝĞƐĂŶĚƚŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĨŽƌĞĂĐŚŽĨƚŚĞƐĞĐĂƚĞŐŽƌŝĞƐĂƌĞĂƐ
ĨŽůůŽǁƐ͗

ŝ͘ &ŝŶĂŶĐŝĂůĂƐƐĞƚƐĂƚĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ
 ĞƌŝǀĂƟǀĞĂƐƐĞƚƐŶŽƚĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐĂƌĞĐůĂƐƐŝĮĞĚĂƐĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ͘dŚĞƐĞĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞ
ŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ͘ŶLJŐĂŝŶŽƌůŽƐƐĂƌŝƐŝŶŐĨƌŽŵĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞĂŶĚƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌ
ůŽƐƐ͘

ŝŝ͘ >ŽĂŶƐĂŶĚƌĞĐĞŝǀĂďůĞƐ
 ZĞĐĞŝǀĂďůĞƐ͕ĂŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐĂŶĚďĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚĂƌĞĮŶĂŶĐŝĂůĂƐƐĞƚƐǁŝƚŚĮdžĞĚŽƌ
ĚĞƚĞƌŵŝŶĂďůĞƉĂLJŵĞŶƚƐƚŚĂƚĂƌĞŶŽƚƋƵŽƚĞĚŝŶĂŶĂĐƟǀĞŵĂƌŬĞƚ͘dŚĞƐĞĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞĐůĂƐƐŝĮĞĚĂƐůŽĂŶƐĂŶĚ
ƌĞĐĞŝǀĂďůĞƐ͘dŚĞƐĞĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞƌĞĐŽƌĚĞĚĂƚĨĂŝƌǀĂůƵĞƉůƵƐƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐĂŶĚƚŚĞƌĞĂŌĞƌ͕ƚŚĞLJĂƌĞŵĞĂƐƵƌĞĚĂƚ
ĂŵŽƌƟƐĞĚĐŽƐƚƵƐŝŶŐƚŚĞĞīĞĐƟǀĞŝŶƚĞƌĞƐƚŵĞƚŚŽĚůĞƐƐĂĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͘

ŝŝŝ͘ ǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞĮŶĂŶĐŝĂůĂƐƐĞƚƐ
 dŚĞƐĞŝŶǀĞƐƚŵĞŶƚƐĂƌĞĮŶĂŶĐŝĂůĂƐƐĞƚƐƚŚĂƚĂƌĞĚĞƐŝŐŶĂƚĞĚĂƐĂǀĂŝůĂďůĞĨŽƌƐĂůĞŽƌĂƌĞŶŽƚĐůĂƐƐŝĮĞĚŝŶĂŶLJŽĨƚŚĞƚǁŽ
ƉƌĞĐĞĚŝŶŐĐĂƚĞŐŽƌŝĞƐ͘dŚĞƐĞĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞƌĞĐŽƌĚĞĚŝŶŝƟĂůůLJĂƚĨĂŝƌǀĂůƵĞƉůƵƐƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐĂŶĚƚŚĞƌĞĂŌĞƌ͕
ƚŚĞLJĂƌĞŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ͘džĐĞƉƚĨŽƌŝŵƉĂŝƌŵĞŶƚ͕ĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐŽŶƚƌĂŶƐůĂƟŽŶŽĨŵŽŶĞƚĂƌLJ
ĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞĮŶĂŶĐŝĂůĂƐƐĞƚƐƐƵĐŚĂƐĚĞďƚŝŶƐƚƌƵŵĞŶƚƐ͕ŝŶƚĞƌĞƐƚĐĂůĐƵůĂƚĞĚƵƐŝŶŐƚŚĞĞīĞĐƟǀĞŝŶƚĞƌĞƐƚŵĞƚŚŽĚĂŶĚ
ĚŝǀŝĚĞŶĚƐǁŚŝĐŚĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͕ĂŶLJŐĂŝŶŽƌůŽƐƐĂƌŝƐŝŶŐĨƌŽŵĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌ
ĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘KŶĚĞƌĞĐŽŐŶŝƟŽŶ͕ƚŚĞĐƵŵƵůĂƟǀĞŐĂŝŶŽƌůŽƐƐŝƐƌĞĐůĂƐƐŝĮĞĚĨƌŽŵĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞƌĞƐĞƌǀĞƚŽ
ƉƌŽĮƚŽƌůŽƐƐ͘

ŝǀ͘ ĞƌŝǀĂƟǀĞƐĂŶĚŚĞĚŐŝŶŐĂĐƟǀŝƟĞƐ
 dŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐLJĨŽƌĚĞƌŝǀĂƟǀĞƐĚĞƐŝŐŶĂƚĞĚĂƐĂŚĞĚŐĞŝƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϯ;ŬͿ͘

page 148 SIME DARBY BERHAD

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ũ͘ &ŝŶĂŶĐŝĂůĂƐƐĞƚƐ;ĐŽŶƟŶƵĞĚͿ

 &ŝŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞĐůĂƐƐŝĮĞĚĂƐĐƵƌƌĞŶƚĂƐƐĞƚƐĨŽƌƚŚŽƐĞŚĂǀŝŶŐŵĂƚƵƌŝƚLJĚĂƚĞƐŽĨŶŽƚŵŽƌĞƚŚĂŶϭϮŵŽŶƚŚƐĂŌĞƌƚŚĞĞŶĚŽĨƚŚĞ
ƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ĂŶĚƚŚĞďĂůĂŶĐĞŝƐĐůĂƐƐŝĮĞĚĂƐŶŽŶͲĐƵƌƌĞŶƚ͘&ŽƌĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞĮŶĂŶĐŝĂůĂƐƐĞƚƐ͕ƚŚĞĐůĂƐƐŝĮĐĂƟŽŶŝƐďĂƐĞĚ
ŽŶĞdžƉĞĐƚĞĚĚĂƚĞŽĨƌĞĂůŝƐĂƟŽŶŽĨƚŚĞĂƐƐĞƚƐ͘

 ZĞŐƵůĂƌǁĂLJƉƵƌĐŚĂƐĞŽƌƐĂůĞŽĨĂĮŶĂŶĐŝĂůĂƐƐĞƚŝƐƌĞĐŽŐŶŝƐĞĚŽŶƚŚĞƐĞƩůĞŵĞŶƚĚĂƚĞŝ͘Ğ͘ƚŚĞĚĂƚĞƚŚĂƚĂŶĂƐƐĞƚŝƐĚĞůŝǀĞƌĞĚƚŽ
ŽƌďLJƚŚĞ'ƌŽƵƉ͘ĐŽŶƚƌĂĐƚƚŚĂƚƌĞƋƵŝƌĞƐŽƌƉĞƌŵŝƚƐŶĞƚƐĞƩůĞŵĞŶƚŽĨƚŚĞĐŚĂŶŐĞŝŶƚŚĞǀĂůƵĞŽĨƚŚĞĐŽŶƚƌĂĐƚŝƐŶŽƚĂƌĞŐƵůĂƌ
ǁĂLJĐŽŶƚƌĂĐƚ͘^ƵĐŚĂĐŽŶƚƌĂĐƚŝƐĂĐĐŽƵŶƚĞĚĨŽƌĂƐĂĚĞƌŝǀĂƟǀĞŝŶƚŚĞƉĞƌŝŽĚďĞƚǁĞĞŶƚŚĞƚƌĂĚĞĚĂƚĞĂŶĚƚŚĞƐĞƩůĞŵĞŶƚĚĂƚĞ͘

Ŭ͘ ĞƌŝǀĂƟǀĞƐĂŶĚŚĞĚŐŝŶŐĂĐƟǀŝƟĞƐ

 ĞƌŝǀĂƟǀĞƐĂƌĞŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ͘ĚĞƌŝǀĂƟǀĞƚŚĂƚŝƐŶĞŝƚŚĞƌĚĞƐŝŐŶĂƚĞĚŶŽƌĂŶĞīĞĐƟǀĞŚĞĚŐŝŶŐŝŶƐƚƌƵŵĞŶƚŝƐĐĂƚĞŐŽƌŝƐĞĚ
ƵŶĚĞƌĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐĂŶĚĐŚĂŶŐĞƐŝŶŝƚƐĨĂŝƌǀĂůƵĞĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘/ŶƚŚĞĐĂƐĞŽĨĂĚĞƌŝǀĂƟǀĞ
ƚŚĂƚƋƵĂůŝĮĞƐĨŽƌĐĂƐŚŇŽǁŚĞĚŐĞĂŶĚďŽƌƌŽǁŝŶŐƐƚŚĂƚĂƌĞƵƐĞĚĂƐŚĞĚŐĞŝŶƐƚƌƵŵĞŶƚƐĂŐĂŝŶƐƚŶĞƚŝŶǀĞƐƚŵĞŶƚƐ͕ƚŚĞĞīĞĐƟǀĞ
ƉŽƌƟŽŶŽĨĐŚĂŶŐĞƐŝŶƚŚĞĚĞƌŝǀĂƟǀĞ͛ƐĨĂŝƌǀĂůƵĞĂŶĚƚŚĞĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐĨƌŽŵƚŚĞƚƌĂŶƐůĂƟŽŶŽĨƚŚĞďŽƌƌŽǁŝŶŐƐĂƌĞ
ƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘

 dŚĞŐĂŝŶŽƌůŽƐƐŝƐƌĞŵŽǀĞĚĨƌŽŵĞƋƵŝƚLJĂŶĚŝŶĐůƵĚĞĚŝŶƉƌŽĮƚŽƌůŽƐƐŝŶƚŚĞƐĂŵĞƉĞƌŝŽĚŽƌƉĞƌŝŽĚƐĚƵƌŝŶŐǁŚŝĐŚƚŚĞŚĞĚŐĞĚ
ŝƚĞŵĂīĞĐƚƐƉƌŽĮƚŽƌůŽƐƐ͘/ŶƚŚĞĐĂƐĞŽĨĂŚĞĚŐĞŽĨĂĨŽƌĞĐĂƐƚƚƌĂŶƐĂĐƟŽŶǁŚŝĐŚƌĞƐƵůƚƐŝŶƚŚĞƌĞĐŽŐŶŝƟŽŶŽĨĂŶŽŶͲĮŶĂŶĐŝĂů
ĂƐƐĞƚŽƌĂŶŽŶͲĮŶĂŶĐŝĂůůŝĂďŝůŝƚLJ͕ƚŚĞŐĂŝŶŽƌůŽƐƐŝƐƌĞŵŽǀĞĚĨƌŽŵĞƋƵŝƚLJĂŶĚŝŶĐůƵĚĞĚŝŶƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞĂƐƐĞƚŽƌ
ůŝĂďŝůŝƚLJ͘dŚĞŐĂŝŶŽƌůŽƐƐŝƐĂůƐŽƌĞŵŽǀĞĚĨƌŽŵĞƋƵŝƚLJĂŶĚŝŶĐůƵĚĞĚŝŶƉƌŽĮƚŽƌůŽƐƐǁŚĞŶƚŚĞĚĞƌŝǀĂƟǀĞĞdžƉŝƌĞƐ͕ŶŽůŽŶŐĞƌŵĞĞƚƐ
ƚŚĞĐƌŝƚĞƌŝĂĨŽƌŚĞĚŐĞĂĐĐŽƵŶƟŶŐ͕ŽƌƚŚĞĨŽƌĞĐĂƐƚĞĚƚƌĂŶƐĂĐƟŽŶŝƐŶŽůŽŶŐĞƌĞdžƉĞĐƚĞĚƚŽŽĐĐƵƌ͘

 ĞƌŝǀĂƟǀĞƐĂƌĞĐĂƌƌŝĞĚĂƐĂƐƐĞƚƐǁŚĞŶƚŚĞĨĂŝƌǀĂůƵĞŝƐƉŽƐŝƟǀĞĂŶĚĂƐůŝĂďŝůŝƟĞƐǁŚĞŶƚŚĞĨĂŝƌǀĂůƵĞŝƐŶĞŐĂƟǀĞ͘ĞƌŝǀĂƟǀĞƐĂƌĞ
ĐůĂƐƐŝĮĞĚĂƐĐƵƌƌĞŶƚĂƐƐĞƚŽƌĐƵƌƌĞŶƚůŝĂďŝůŝƚLJĨŽƌƚŚŽƐĞŚĂǀŝŶŐŵĂƚƵƌŝƚLJĚĂƚĞƐŽĨŶŽŵŽƌĞƚŚĂŶϭϮŵŽŶƚŚƐĂŌĞƌƚŚĞĞŶĚŽĨƚŚĞ
ƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ĂŶĚƚŚĞďĂůĂŶĐĞŝƐĐůĂƐƐŝĮĞĚĂƐŶŽŶͲĐƵƌƌĞŶƚ͘

ů͘ ŽŶƚƌĂĐƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐ

 ŽŶƚƌĂĐƚĂƐƐĞƚŝƐƚŚĞƌŝŐŚƚƚŽĐŽŶƐŝĚĞƌĂƟŽŶĨŽƌŐŽŽĚƐŽƌƐĞƌǀŝĐĞƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞĐƵƐƚŽŵĞƌƐ͘/ŶƚŚĞĐĂƐĞŽĨĐŽŶƐƚƌƵĐƟŽŶ
ĐŽŶƚƌĂĐƚƐ͕ĐŽŶƚƌĂĐƚĂƐƐĞƚŝƐƚŚĞĞdžĐĞƐƐŽĨĐƵŵƵůĂƟǀĞƌĞǀĞŶƵĞĞĂƌŶĞĚŽǀĞƌƚŚĞďŝůůŝŶŐƐƚŽͲĚĂƚĞ͘

 tŚĞŶƚŚĞƌĞŝƐŽďũĞĐƟǀĞĞǀŝĚĞŶĐĞŽĨŝŵƉĂŝƌŵĞŶƚ͕ƚŚĞĂŵŽƵŶƚŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐŝƐĚĞƚĞƌŵŝŶĞĚďLJĐŽŵƉĂƌŝŶŐƚŚĞĐŽŶƚƌĂĐƚ
ĂƐƐĞƚ͛ƐĐĂƌƌLJŝŶŐĂŵŽƵŶƚĂŶĚƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨĞƐƟŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŇŽǁƐƚŽďĞŐĞŶĞƌĂƚĞĚďLJƚŚĞĐŽŶƚƌĂĐƚĂƐƐĞƚ͘

 ŽŶƚƌĂĐƚůŝĂďŝůŝƚLJŝƐƚŚĞŽďůŝŐĂƟŽŶƚŽƚƌĂŶƐĨĞƌŐŽŽĚƐŽƌƐĞƌǀŝĐĞƐƚŽĐƵƐƚŽŵĞƌƐĨŽƌǁŚŝĐŚƚŚĞ'ƌŽƵƉŚĂƐƌĞĐĞŝǀĞĚƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶ
ŽƌŚĂƐďŝůůĞĚƚŚĞĐƵƐƚŽŵĞƌ͘/ŶƚŚĞĐĂƐĞŽĨĐŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐ͕ĐŽŶƚƌĂĐƚůŝĂďŝůŝƚLJŝƐƚŚĞĞdžĐĞƐƐŽĨƚŚĞďŝůůŝŶŐƐƚŽͲĚĂƚĞŽǀĞƌƚŚĞ
ĐƵŵƵůĂƟǀĞƌĞǀĞŶƵĞĞĂƌŶĞĚ͘ŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐŝŶĐůƵĚĞĚŽǁŶƉĂLJŵĞŶƚƐƌĞĐĞŝǀĞĚĨƌŽŵĐƵƐƚŽŵĞƌƐĂŶĚŽƚŚĞƌĚĞĨĞƌƌĞĚŝŶĐŽŵĞ
ǁŚĞƌĞƚŚĞ'ƌŽƵƉŚĂƐďŝůůĞĚŽƌŚĂƐĐŽůůĞĐƚĞĚƚŚĞƉĂLJŵĞŶƚďĞĨŽƌĞƚŚĞŐŽŽĚƐĂƌĞĚĞůŝǀĞƌĞĚŽƌƐĞƌǀŝĐĞƐĂƌĞƉƌŽǀŝĚĞĚƚŽƚŚĞ
ĐƵƐƚŽŵĞƌƐ͘

ANNUAL REPORT 2018 page 149

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

m. Impairment

 'ŽŽĚǁŝůůĂŶĚŽƚŚĞƌŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐƚŚĂƚŚĂǀĞĂŶŝŶĚĞĮŶŝƚĞƵƐĞĨƵůůŝĨĞŽƌĂƌĞŶŽƚLJĞƚĂǀĂŝůĂďůĞĨŽƌƵƐĞĂƌĞƚĞƐƚĞĚĨŽƌ
ŝŵƉĂŝƌŵĞŶƚ͘KƚŚĞƌŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞĂƐƐĞƐƐĞĚĨŽƌŝŶĚŝĐĂƟŽŶŽĨŝŵƉĂŝƌŵĞŶƚ͘/ĨĂŶŝŶĚŝĐĂƟŽŶĞdžŝƐƚƐ͕ĂŶŝŵƉĂŝƌŵĞŶƚƚĞƐƚ
ŝƐƉĞƌĨŽƌŵĞĚ͘/ŶƚŚĞĐĂƐĞŽĨĮŶĂŶĐŝĂůĂƐƐĞƚƐ͕ŝŶǀĞƐƚŵĞŶƚŝŶƐƵďƐŝĚŝĂƌŝĞƐĂŶĚŝŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ͕ƚŚĞLJĂƌĞ
ĂƐƐĞƐƐĞĚĨŽƌŽďũĞĐƟǀĞĞǀŝĚĞŶĐĞŽĨŝŵƉĂŝƌŵĞŶƚ͘

 dŚŝƐĞdžĞƌĐŝƐĞŝƐƉĞƌĨŽƌŵĞĚĂŶŶƵĂůůLJŽƌǁŚĞŶĞǀĞƌĞǀĞŶƚƐŽƌĐŝƌĐƵŵƐƚĂŶĐĞƐŽĐĐƵƌŝŶĚŝĐĂƟŶŐƚŚĂƚŝŵƉĂŝƌŵĞŶƚŵĂLJĞdžŝƐƚ͘

 dŚĞƌĞĐŽŐŶŝƟŽŶĂŶĚŵĞĂƐƵƌĞŵĞŶƚŽĨŝŵƉĂŝƌŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗

ŝ͘ EŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐ
 ŶŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞĂŵŽƵŶƚďLJǁŚŝĐŚƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚĞdžĐĞĞĚƐŝƚƐ
ƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚ͘dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŝƐƚŚĞŚŝŐŚĞƌŽĨĂŶĂƐƐĞƚ͛ƐĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůůĂŶĚǀĂůƵĞͲŝŶͲƵƐĞ͘
/ŵƉĂŝƌŵĞŶƚůŽƐƐŽŶŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐŝƐĐŚĂƌŐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͘

 džĐĞƉƚĨŽƌŐŽŽĚǁŝůů͕ĂƐƐĞƚƐƚŚĂƚǁĞƌĞƉƌĞǀŝŽƵƐůLJŝŵƉĂŝƌĞĚĂƌĞƌĞǀŝĞǁĞĚĨŽƌƉŽƐƐŝďůĞƌĞǀĞƌƐĂůŽĨƚŚĞŝŵƉĂŝƌŵĞŶƚĂƚƚŚĞ
ĞŶĚŽĨĞĂĐŚƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘ŶLJƐƵďƐĞƋƵĞŶƚŝŶĐƌĞĂƐĞŝŶƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŝƐƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘ZĞǀĞƌƐĂů
ŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐƌĞƐƚƌŝĐƚĞĚďLJƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƚŚĂƚǁŽƵůĚŚĂǀĞďĞĞŶĚĞƚĞƌŵŝŶĞĚŚĂĚŶŽŝŵƉĂŝƌŵĞŶƚůŽƐƐďĞĞŶ
ƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞĂƐƐĞƚŝŶƉƌŝŽƌLJĞĂƌƐ͘

 ŶŝŵƉĂŝƌŵĞŶƚůŽƐƐƌĞĐŽŐŶŝƐĞĚĨŽƌŐŽŽĚǁŝůůŝƐŶŽƚƌĞǀĞƌƐĞĚ͘

ŝŝ͘ ^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ
 ŶŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞĂŵŽƵŶƚďLJǁŚŝĐŚƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞƐƵďƐŝĚŝĂƌLJ͕ũŽŝŶƚǀĞŶƚƵƌĞŽƌ
ĂƐƐŽĐŝĂƚĞĞdžĐĞĞĚƐŝƚƐƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚ͘dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŝƐƚŚĞŚŝŐŚĞƌŽĨĂŶĂƐƐĞƚ͛ƐĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽ
ƐĞůůĂŶĚƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĞƐƟŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŇŽǁƐĞdžƉĞĐƚĞĚƚŽďĞĚĞƌŝǀĞĚĨƌŽŵƚŚĞŝŶǀĞƐƚŵĞŶƚŝŶĐůƵĚŝŶŐƚŚĞ
ƉƌŽĐĞĞĚƐĨƌŽŵŝƚƐĚŝƐƉŽƐĂů͘ŶLJƐƵďƐĞƋƵĞŶƚŝŶĐƌĞĂƐĞŝŶƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŝƐƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐĂŶĚƌĞǀĞƌƐĂů
ŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐƌĞƐƚƌŝĐƚĞĚďLJƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƚŚĂƚǁŽƵůĚŚĂǀĞďĞĞŶĚĞƚĞƌŵŝŶĞĚŚĂĚŶŽŝŵƉĂŝƌŵĞŶƚůŽƐƐďĞĞŶ
ƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞĂƐƐĞƚŝŶƉƌŝŽƌLJĞĂƌƐ͘

ŝŝŝ͘ >ŽĂŶƐĂŶĚƌĞĐĞŝǀĂďůĞƐ
 >ŽĂŶƐĂŶĚƌĞĐĞŝǀĂďůĞƐĂƌĞĂƐƐĞƐƐĞĚŝŶĚŝǀŝĚƵĂůůLJĂŶĚƚŚĞƌĞĂŌĞƌĐŽůůĞĐƟǀĞůLJĨŽƌŽďũĞĐƟǀĞĞǀŝĚĞŶĐĞŽĨŝŵƉĂŝƌŵĞŶƚ͘/Ĩ
ĞǀŝĚĞŶĐĞĞdžŝƐƚƐ͕ƚŚĞĂŵŽƵŶƚŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐŝƐŵĞĂƐƵƌĞĚĂƐƚŚĞĚŝīĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĂƐƐĞƚ͛ƐĐĂƌƌLJŝŶŐĂŵŽƵŶƚĂŶĚ
ƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨĞƐƟŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŇŽǁƐĚŝƐĐŽƵŶƚĞĚĂƚƚŚĞĂƐƐĞƚ͛ƐŽƌŝŐŝŶĂůĞīĞĐƟǀĞŝŶƚĞƌĞƐƚƌĂƚĞ͘dŚĞŝŵƉĂŝƌŵĞŶƚ
ůŽƐƐŝƐƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐƚŽƉƌŽĮƚŽƌůŽƐƐ͕ŝĨĂŶLJ͕ŝƐƌĞƐƚƌŝĐƚĞĚƚŽŶŽƚĞdžĐĞĞĚŝŶŐǁŚĂƚ
ƚŚĞĂŵŽƌƟƐĞĚĐŽƐƚǁŽƵůĚŚĂǀĞďĞĞŶŚĂĚƚŚĞŝŵƉĂŝƌŵĞŶƚŶŽƚďĞĞŶƌĞĐŽŐŶŝƐĞĚƉƌĞǀŝŽƵƐůLJ͘

page 150 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ŵ͘ /ŵƉĂŝƌŵĞŶƚ;ĐŽŶƟŶƵĞĚͿ

 dŚĞƌĞĐŽŐŶŝƟŽŶĂŶĚŵĞĂƐƵƌĞŵĞŶƚŽĨŝŵƉĂŝƌŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŝǀ͘ ǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞĮŶĂŶĐŝĂůĂƐƐĞƚƐ
 ƐŝŐŶŝĮĐĂŶƚŽƌƉƌŽůŽŶŐĞĚĚĞĐůŝŶĞŝŶƚŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞĮŶĂŶĐŝĂůĂƐƐĞƚƐďĞůŽǁŝƚƐĐŽƐƚŝŶĚŝĐĂƚĞƐƚŚĂƚ
ƚŚĞĂƐƐĞƚƐĂƌĞŝŵƉĂŝƌĞĚ͘/ĨƐƵĐŚĞǀŝĚĞŶĐĞĞdžŝƐƚƐ͕ƚŚĞĚĞĐůŝŶĞŝŶĨĂŝƌǀĂůƵĞƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞĐƵŵƵůĂƟǀĞůŽƐƐƌĞĐŽŐŶŝƐĞĚŝŶ
ŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͕ŝĨĂŶLJ͕ŝƐƚĂŬĞŶƚŽƉƌŽĮƚŽƌůŽƐƐ͘ŶŝŵƉĂŝƌŵĞŶƚůŽƐƐƌĞĐŽŐŶŝƐĞĚĨŽƌĞƋƵŝƚLJŝŶƐƚƌƵŵĞŶƚƐŝƐ
ŶŽƚƌĞǀĞƌƐĞĚƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ͘ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐŝƐŵĂĚĞŽŶůLJŝĨƚŚĞĮŶĂŶĐŝĂůĂƐƐĞƚ
ŝƐĂĚĞďƚŝŶƐƚƌƵŵĞŶƚĂŶĚƚŚĞŝŶĐƌĞĂƐĞŝŶĨĂŝƌǀĂůƵĞĐĂŶďĞŽďũĞĐƟǀĞůLJƌĞůĂƚĞĚƚŽĂŶĞǀĞŶƚŽĐĐƵƌƌŝŶŐĂŌĞƌƚŚĞŝŵƉĂŝƌŵĞŶƚ
ůŽƐƐǁĂƐƌĞĐŽŐŶŝƐĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘

Ŷ͘ ^ŚĂƌĞĐĂƉŝƚĂůĂŶĚƉĞƌƉĞƚƵĂůƐƵŬƵŬ

ŝ͘ ^ŚĂƌĞĐĂƉŝƚĂů
 WƌŽĐĞĞĚƐĨƌŽŵŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝƐƐƵĞĚĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌĂƐƐŚĂƌĞĐĂƉŝƚĂůŝŶĞƋƵŝƚLJ͘ŽƐƚĚŝƌĞĐƚůLJĂƩƌŝďƵƚĂďůĞƚŽƚŚĞ
ŝƐƐƵĂŶĐĞŽĨŶĞǁƐŚĂƌĞƐĂƌĞĚĞĚƵĐƚĞĚĨƌŽŵĞƋƵŝƚLJ͘

 ŝǀŝĚĞŶĚƐƚŽŽǁŶĞƌƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚLJ
ŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞLJĂƌĞĚĞĐůĂƌĞĚ͘

ŝŝ͘ WĞƌƉĞƚƵĂůƐƵŬƵŬ
 WĞƌƉĞƚƵĂůƐƵŬƵŬŝƐĐůĂƐƐŝĮĞĚĂƐĂŶĞƋƵŝƚLJŝŶƐƚƌƵŵĞŶƚĂƐƚŚĞƌĞŝƐŶŽĐŽŶƚƌĂĐƚƵĂůŽďůŝŐĂƟŽŶƚŽƌĞĚĞĞŵƚŚĞŝŶƐƚƌƵŵĞŶƚ͘ŽƐƚ
ĚŝƌĞĐƚůLJĂƩƌŝďƵƚĂďůĞƚŽƚŚĞŝƐƐƵĂŶĐĞŽĨƚŚĞŝŶƐƚƌƵŵĞŶƚ͕ŶĞƚŽĨƚĂdž͕ĂƌĞƚƌĞĂƚĞĚĂƐĂĚĞĚƵĐƟŽŶĨƌŽŵƚŚĞƉƌŽĐĞĞĚƐ͘

 WĞƌƉĞƚƵĂůƐƵŬƵŬŚŽůĚĞƌƐ͛ĞŶƟƚůĞŵĞŶƚŝƐĂĐĐŽƵŶƚĞĚĨŽƌĂƐĂŶĂƉƉƌŽƉƌŝĂƟŽŶŝŶƚŚĞƉƌŽĮƚŽƌůŽƐƐĂŶĚĚŝƐƚƌŝďƵƟŽŶŝƐ
ƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚLJŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚŝƚŝƐĚĞĐůĂƌĞĚ͘

Ž͘ WƌŽǀŝƐŝŽŶƐ

 WƌŽǀŝƐŝŽŶƐĂƌĞƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞ'ƌŽƵƉŚĂƐĂůĞŐĂůŽƌĐŽŶƐƚƌƵĐƟǀĞŽďůŝŐĂƟŽŶ͕ǁŚĞƌĞƚŚĞŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐŝƐƉƌŽďĂďůĞ
ĂŶĚĐĂŶďĞƌĞůŝĂďůLJĞƐƟŵĂƚĞĚ͘WƌŽǀŝƐŝŽŶƐĂƌĞŵĞĂƐƵƌĞĚĂƚƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞŽďůŝŐĂƟŽŶ͘dŚĞŝŶĐƌĞĂƐĞŝŶƚŚĞƉƌŽǀŝƐŝŽŶĚƵĞ
ƚŽƚŚĞƉĂƐƐĂŐĞŽĨƟŵĞŝƐƌĞĐŽŐŶŝƐĞĚĂƐĮŶĂŶĐĞĐŽƐƚ͘

Ɖ͘ 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐ

 'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂƚĨĂŝƌǀĂůƵĞǁŚĞŶƚŚĞƌĞŝƐƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞƚŚĂƚƚŚĞ'ƌŽƵƉǁŝůůĐŽŵƉůLJǁŝƚŚƚŚĞ
ĐŽŶĚŝƟŽŶƐĂƩĂĐŚĞĚƚŽƚŚĞŵĂŶĚƚŚĞŐƌĂŶƚƐǁŝůůďĞƌĞĐĞŝǀĞĚ͘'ƌĂŶƚƐĂƌĞĐĂƌƌŝĞĚŝŶƐƚĂƚĞŵĞŶƚŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶĂŶĚĂůůŽĐĂƚĞĚ
ƚŽƉƌŽĮƚŽƌůŽƐƐŽǀĞƌƚŚĞƵƐĞĨƵůůŝǀĞƐŽĨƚŚĞƌĞůĂƚĞĚĂƐƐĞƚƐŽƌŽǀĞƌƚŚĞƉĞƌŝŽĚŽĨƚŚĞŽƉĞƌĂƟŶŐĞdžƉĞŶĚŝƚƵƌĞƚŽǁŚŝĐŚƚŚĞŐƌĂŶƚƐ
ĂƌĞŝŶƚĞŶĚĞĚƚŽĐŽŵƉĞŶƐĂƚĞ͘

ANNUAL REPORT 2018 page 151

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Ƌ͘ ŵƉůŽLJĞĞĐŽƐƚƐ

ŝ͘ ŵƉůŽLJĞĞďĞŶĞĮƚƐ
 tĂŐĞƐ͕ƐĂůĂƌŝĞƐ͕ƉĂŝĚĂŶŶƵĂůůĞĂǀĞĂŶĚƐŝĐŬůĞĂǀĞ͕ďŽŶƵƐĞƐĂŶĚŶŽŶͲŵŽŶĞƚĂƌLJďĞŶĞĮƚƐĂƌĞĂĐĐƌƵĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚ
ƚŚĞƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚďLJĞŵƉůŽLJĞĞƐ͘

ŝŝ͘ ĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶƐ
 ĚĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶŝƐĂƉĞŶƐŝŽŶƉůĂŶƵŶĚĞƌǁŚŝĐŚƚŚĞ'ƌŽƵƉƉĂLJƐĮdžĞĚĐŽŶƚƌŝďƵƟŽŶƐŝŶƚŽĂƐĞƉĂƌĂƚĞ
ĞŶƟƚLJ͘dŚĞ'ƌŽƵƉŚĂƐŶŽůĞŐĂůŽƌĐŽŶƐƚƌƵĐƟǀĞŽďůŝŐĂƟŽŶƐƚŽƉĂLJĨƵƌƚŚĞƌĐŽŶƚƌŝďƵƟŽŶƐŝĨƚŚĞĨƵŶĚĚŽĞƐŶŽƚŚŽůĚƐƵĸĐŝĞŶƚ
ĂƐƐĞƚƐƚŽƉĂLJĂůůĞŵƉůŽLJĞĞƐƚŚĞďĞŶĞĮƚƐƌĞůĂƟŶŐƚŽĞŵƉůŽLJĞĞƐĞƌǀŝĐĞŝŶƚŚĞĐƵƌƌĞŶƚĂŶĚƉƌŝŽƌƉĞƌŝŽĚƐ͘

 dŚĞ'ƌŽƵƉŚĂƐǀĂƌŝŽƵƐĚĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚůŽĐĂůĐŽŶĚŝƟŽŶƐĂŶĚƉƌĂĐƟĐĞƐŝŶƚŚĞ
ĐŽƵŶƚƌŝĞƐŝŶǁŚŝĐŚŝƚŽƉĞƌĂƚĞƐ͘dŚĞ'ƌŽƵƉ͛ƐĐŽŶƚƌŝďƵƟŽŶƐƚŽĚĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶƐĂƌĞĐŚĂƌŐĞĚƚŽƉƌŽĮƚŽƌ
ůŽƐƐŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌŝŶǁŚŝĐŚƚŚĞLJƌĞůĂƚĞƚŽ͘

ŝŝŝ͘ ĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐ
 ĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐƚLJƉŝĐĂůůLJĚĞĮŶĞĂŶĂŵŽƵŶƚŽĨƉĞŶƐŝŽŶďĞŶĞĮƚƚŚĂƚĂŶĞŵƉůŽLJĞĞǁŝůůƌĞĐĞŝǀĞŽŶƌĞƟƌĞŵĞŶƚ͕
ƵƐƵĂůůLJĚĞƉĞŶĚĞŶƚŽŶŽŶĞŽƌŵŽƌĞĨĂĐƚŽƌƐƐƵĐŚĂƐĂŐĞ͕LJĞĂƌƐŽĨƐĞƌǀŝĐĞĂŶĚĐŽŵƉĞŶƐĂƟŽŶ͘

 dŚĞ'ƌŽƵƉ͛ƐĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐĂƌĞĚĞƚĞƌŵŝŶĞĚďĂƐĞĚŽŶĂƉĞƌŝŽĚŝĐĂĐƚƵĂƌŝĂůǀĂůƵĂƟŽŶďLJĞdžƚĞƌŶĂůĐŽŶƐƵůƚĂŶƚƐ
ǁŚĞƌĞƚŚĞĂŵŽƵŶƚŽĨƚŚĞďĞŶĞĮƚƐƚŚĂƚĞůŝŐŝďůĞĞŵƉůŽLJĞĞƐŚĂǀĞĞĂƌŶĞĚŝŶƌĞƚƵƌŶĨŽƌƚŚĞŝƌƐĞƌǀŝĐĞƐŝŶƚŚĞĐƵƌƌĞŶƚĂŶĚƉƌŝŽƌ
LJĞĂƌƐĂƌĞĞƐƟŵĂƚĞĚ͘

 dŚĞůŝĂďŝůŝƟĞƐŝŶƌĞƐƉĞĐƚŽĨƚŚĞĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐĂƌĞƚŚĞƉƌĞƐĞŶƚǀĂůƵĞƐŽĨƚŚĞĚĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶƐ
ĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ĂĚũƵƐƚĞĚĨŽƌĂĐƚƵĂƌŝĂůŐĂŝŶƐĂŶĚůŽƐƐĞƐĂŶĚƉĂƐƚƐĞƌǀŝĐĞĐŽƐƚƐ͕ĂŶĚƌĞĚƵĐĞĚďLJƚŚĞ
ĨĂŝƌǀĂůƵĞŽĨƚŚĞƉůĂŶĂƐƐĞƚƐ͘dŚĞĚĞĮŶĞĚďĞŶĞĮƚŽďůŝŐĂƟŽŶƐ͕ĐĂůĐƵůĂƚĞĚƵƐŝŶŐƚŚĞWƌŽũĞĐƚĞĚhŶŝƚƌĞĚŝƚDĞƚŚŽĚ͕ĂƌĞ
ĚĞƚĞƌŵŝŶĞĚďLJŝŶĚĞƉĞŶĚĞŶƚĂĐƚƵĂƌŝĞƐ͕ĐŽŶƐŝĚĞƌŝŶŐƚŚĞĞƐƟŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŽƵƞůŽǁƐ͘

 ĐƚƵĂƌŝĂůŐĂŝŶƐŽƌůŽƐƐĞƐĂƌŝƐŝŶŐĨƌŽŵŵĂƌŬĞƚĂĚũƵƐƚĂŶĚĐŚĂŶŐĞƐŝŶĂĐƚƵĂƌŝĂůĂƌŝƐŝŶŐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌ
ĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘

ŝǀ͘ dĞƌŵŝŶĂƟŽŶďĞŶĞĮƚƐ
 dĞƌŵŝŶĂƟŽŶďĞŶĞĮƚƐĂƌĞƉĂLJĂďůĞǁŚĞŶĞǀĞƌĂŶĞŵƉůŽLJĞĞ͛ƐĞŵƉůŽLJŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚŝŶĞdžĐŚĂŶŐĞĨŽƌƚŚĞƐĞďĞŶĞĮƚƐ͘
dŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞƐƚĞƌŵŝŶĂƟŽŶďĞŶĞĮƚƐǁŚĞŶŝƚŝƐĚĞŵŽŶƐƚƌĂďůLJĐŽŵŵŝƩĞĚƚŽĞŝƚŚĞƌƚĞƌŵŝŶĂƚĞƚŚĞĞŵƉůŽLJŵĞŶƚ
ŽĨĐƵƌƌĞŶƚĞŵƉůŽLJĞĞƐĂĐĐŽƌĚŝŶŐƚŽĂĚĞƚĂŝůĞĚĨŽƌŵĂůƉůĂŶǁŝƚŚŽƵƚƉŽƐƐŝďŝůŝƚLJŽĨǁŝƚŚĚƌĂǁĂůŽƌƚŽƉƌŽǀŝĚĞƚĞƌŵŝŶĂƟŽŶ
ďĞŶĞĮƚƐĂƐĂƌĞƐƵůƚŽĨĂƉƌŽƉŽƐĂůƚŽĞŶĐŽƵƌĂŐĞǀŽůƵŶƚĂƌLJƌĞĚƵŶĚĂŶĐLJ͘

ǀ͘ ^ŚĂƌĞͲďĂƐĞĚĐŽŵƉĞŶƐĂƟŽŶ
 dŚĞŽŵƉĂŶLJŽƉĞƌĂƚĞƐĂŶĞƋƵŝƚLJͲƐĞƩůĞĚ͕ƐŚĂƌĞͲďĂƐĞĚĐŽŵƉĞŶƐĂƟŽŶƉůĂŶĨŽƌƚŚĞ'ƌŽƵƉ͛ƐĞŵƉůŽLJĞĞƐ͘ŵƉůŽLJĞĞƐĞƌǀŝĐĞƐ
ƌĞĐĞŝǀĞĚŝŶĞdžĐŚĂŶŐĞĨŽƌƚŚĞŐƌĂŶƚŽĨƚŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂƐĂŶĞdžƉĞŶƐĞŝŶƚŚĞƉƌŽĮƚŽƌůŽƐƐŽǀĞƌƚŚĞ
ǀĞƐƟŶŐƉĞƌŝŽĚŽĨƚŚĞŐƌĂŶƚ͕ǁŝƚŚĂĐŽƌƌĞƐƉŽŶĚŝŶŐŝŶĐƌĞĂƐĞŝŶĞƋƵŝƚLJ͘

 dŚĞƚŽƚĂůĂŵŽƵŶƚƚŽďĞĞdžƉĞŶƐĞĚŽǀĞƌƚŚĞǀĞƐƟŶŐƉĞƌŝŽĚŝƐĚĞƚĞƌŵŝŶĞĚďLJƌĞĨĞƌĞŶĐĞƚŽƚŚĞĨĂŝƌǀĂůƵĞŽĨƚŚĞƐŚĂƌĞƐ
ŐƌĂŶƚĞĚ͘

page 152 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

Ƌ͘ ŵƉůŽLJĞĞĐŽƐƚƐ;ĐŽŶƟŶƵĞĚͿ

ǀ͘ ^ŚĂƌĞͲďĂƐĞĚĐŽŵƉĞŶƐĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ
 EŽŶͲŵĂƌŬĞƚǀĞƐƟŶŐĐŽŶĚŝƟŽŶƐĂƌĞŝŶĐůƵĚĞĚŝŶƚŚĞĂƐƐƵŵƉƟŽŶƐƚŽĂƌƌŝǀĞĂƚƚŚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐƚŚĂƚĂƌĞĞdžƉĞĐƚĞĚƚŽ
ǀĞƐƚ͘ƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJƌĞǀŝƐĞƚŚĞŝƌĞƐƟŵĂƚĞƐŽĨƚŚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐƚŚĂƚ
ĂƌĞĞdžƉĞĐƚĞĚƚŽǀĞƐƚ͘dŚĞŝŵƉĂĐƚŽĨƚŚĞƌĞǀŝƐŝŽŶŽĨŽƌŝŐŝŶĂůĞƐƟŵĂƚĞƐ͕ŝĨĂŶLJ͕ŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉƌŽĮƚŽƌůŽƐƐ͕ǁŝƚŚĂ
ĐŽƌƌĞƐƉŽŶĚŝŶŐĂĚũƵƐƚŵĞŶƚƚŽĞƋƵŝƚLJ͘

 dŚĞĨĂŝƌǀĂůƵĞŽĨƐŚĂƌĞƐŐƌĂŶƚĞĚƚŽĞŵƉůŽLJĞĞƐŽĨƐƵďƐŝĚŝĂƌŝĞƐĂƌĞƌĞĐŚĂƌŐĞĚďLJƚŚĞŽŵƉĂŶLJƚŽƚŚĞƌĞůĞǀĂŶƚƐƵďƐŝĚŝĂƌŝĞƐ͘

ƌ͘ &ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ

 dŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĐůĂƐƐŝĮĞĚŝŶƚŽƚŚĞĨŽůůŽǁŝŶŐĐĂƚĞŐŽƌŝĞƐĂŶĚƚŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐĨŽƌĞĂĐŚŽĨƚŚĞƐĞ
ĐĂƚĞŐŽƌŝĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

ŝ͘ &ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƚĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ
 ĞƌŝǀĂƟǀĞƐŶŽƚĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐĂƌĞĐůĂƐƐŝĮĞĚĂƐĨĂŝƌǀĂůƵĞƚŚƌŽƵŐŚƉƌŽĮƚŽƌůŽƐƐ͘dŚĞƐĞĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞ
ŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ͘ŶLJŐĂŝŶŽƌůŽƐƐĂƌŝƐŝŶŐĨƌŽŵĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞĂŶĚƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶ
ƉƌŽĮƚŽƌůŽƐƐ͘

ŝŝ͘ ĞƌŝǀĂƟǀĞƐĂŶĚŚĞĚŐŝŶŐĂĐƟǀŝƟĞƐ
 dŚĞĂĐĐŽƵŶƟŶŐƉŽůŝĐLJĨŽƌĚĞƌŝǀĂƟǀĞƐĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐŝƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞϯ;ŬͿ͘

ŝŝŝ͘ KƚŚĞƌĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ
 WĂLJĂďůĞƐ͕ĂŵŽƵŶƚƐĚƵĞƚŽƐƵďƐŝĚŝĂƌŝĞƐĂŶĚďŽƌƌŽǁŝŶŐƐĂƌĞƌĞĐŽŐŶŝƐĞĚŝŶŝƟĂůůLJĂƚĨĂŝƌǀĂůƵĞƉůƵƐƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐĂŶĚ
ƚŚĞƌĞĂŌĞƌ͕ĂƚĂŵŽƌƟƐĞĚĐŽƐƚƵƐŝŶŐƚŚĞĞīĞĐƟǀĞŝŶƚĞƌĞƐƚŵĞƚŚŽĚ͘ŵŽƌƟƐĂƟŽŶŝƐĐŚĂƌŐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͘

 &ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĐůĂƐƐŝĮĞĚĂƐĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐĨŽƌƚŚŽƐĞŚĂǀŝŶŐŵĂƚƵƌŝƚLJĚĂƚĞƐŽĨŶŽƚŵŽƌĞƚŚĂŶϭϮŵŽŶƚŚƐĂŌĞƌƚŚĞĞŶĚ
ŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ĂŶĚƚŚĞďĂůĂŶĐĞŝƐĐůĂƐƐŝĮĞĚĂƐŶŽŶͲĐƵƌƌĞŶƚ͘

Ɛ͘ ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ

 &ŽƌƚŚĞƉƵƌƉŽƐĞŽĨƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨĐĂƐŚŇŽǁƐ͕ĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐŝŶĐůƵĚĞĐĂƐŚŝŶŚĂŶĚĂŶĚĚĞƉŽƐŝƚƐŚĞůĚĂƚĐĂůůǁŝƚŚ
ďĂŶŬƐ͕ŶĞƚŽĨďĂŶŬŽǀĞƌĚƌĂŌƐ͘

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ

 ZĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐŝƐƌĞĐŽŐŶŝƐĞĚďLJƌĞĨĞƌĞŶĐĞƚŽĞĂĐŚĚŝƐƟŶĐƚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶŝŶƚŚĞĐŽŶƚƌĂĐƚ
ǁŝƚŚĐƵƐƚŽŵĞƌ͘ZĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐŝƐŵĞĂƐƵƌĞĚĂƚŝƚƐƚƌĂŶƐĂĐƟŽŶƉƌŝĐĞ͕ďĞŝŶŐƚŚĞĂŵŽƵŶƚŽĨĐŽŶƐŝĚĞƌĂƟŽŶ
ǁŚŝĐŚƚŚĞ'ƌŽƵƉĞdžƉĞĐƚƐƚŽďĞĞŶƟƚůĞĚŝŶĞdžĐŚĂŶŐĞĨŽƌƚƌĂŶƐĨĞƌƌŝŶŐƉƌŽŵŝƐĞĚŐŽŽĚƐŽƌƐĞƌǀŝĐĞƐƚŽĂĐƵƐƚŽŵĞƌ͕ŶĞƚŽĨŐŽŽĚƐĂŶĚ
ƐĞƌǀŝĐĞƚĂdž͕ƌĞƚƵƌŶƐ͕ƌĞďĂƚĞƐĂŶĚĚŝƐĐŽƵŶƚƐ͘dƌĂŶƐĂĐƟŽŶƉƌŝĐĞŝƐĂůůŽĐĂƚĞĚƚŽĞĂĐŚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶŽŶƚŚĞďĂƐŝƐŽĨƚŚĞ
ƌĞůĂƟǀĞƐƚĂŶĚĂůŽŶĞƐĞůůŝŶŐƉƌŝĐĞƐŽĨĞĂĐŚĚŝƐƟŶĐƚŐŽŽĚŽƌƐĞƌǀŝĐĞƐƉƌŽŵŝƐĞĚŝŶƚŚĞĐŽŶƚƌĂĐƚ͘ĞƉĞŶĚŝŶŐŽŶƚŚĞƐƵďƐƚĂŶĐĞŽĨƚŚĞ
ĐŽŶƚƌĂĐƚ͕ƌĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶŝƐƐĂƟƐĮĞĚ͕ǁŚŝĐŚŵĂLJďĞĂƚĂƉŽŝŶƚŝŶƟŵĞŽƌŽǀĞƌƟŵĞ͘

ANNUAL REPORT 2018 page 153

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗

ŝ͘ /ŶĚƵƐƚƌŝĂů
 /ŶĚƵƐƚƌŝĂůƐĞŐŵĞŶƚƌĞǀĞŶƵĞĐŽŶƐŝƐƚƐŽĨƐĂůĞĂŶĚŝŶƐƚĂůůĂƟŽŶŽĨĞƋƵŝƉŵĞŶƚ͕ƐĂůĞŽĨƉĂƌƚƐ͕ƉƌŽǀŝƐŝŽŶŽĨĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ
ĂŶĚĞŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ͘

;ĂͿ ^ĂůĞĂŶĚŝŶƐƚĂůůĂƟŽŶŽĨĞƋƵŝƉŵĞŶƚ͕ƉĂƌƚƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨĂŌĞƌͲƐĂůĞƐŵĂŝŶƚĞŶĂŶĐĞ

 ZĞǀĞŶƵĞĨƌŽŵƐĂůĞŽĨĞƋƵŝƉŵĞŶƚĂŶĚĂŌĞƌͲƐĂůĞƐŵĂŝŶƚĞŶĂŶĐĞĂƌĞƌĞĐŽŐŶŝƐĞĚƌĞƐƉĞĐƟǀĞůLJŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚ
ƚŚĞĐƵƐƚŽŵĞƌĂĐĐĞƉƚƐƚŚĞĚĞůŝǀĞƌLJŽĨƚŚĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐƌĞŶĚĞƌĞĚ͘

 ŽŶƚƌĂĐƚƐƚŚĂƚďƵŶĚůĞƚŚĞƐĂůĞŽĨĞƋƵŝƉŵĞŶƚ͕ĂŌĞƌͲƐĂůĞƐŵĂŝŶƚĞŶĂŶĐĞ͕ƉƌŽǀŝƐŝŽŶŽĨƉĂƌƚƐĐƌĞĚŝƚĂŶĚĞdžƚĞŶĚĞĚ
ǁĂƌƌĂŶƚLJĂƌĞƌĞĐŽŐŶŝƐĞĚĂƐĨŽƵƌĚŝƐƟŶĐƚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐĨŽƌƌĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶƉƵƌƉŽƐĞƐ͘ZĞǀĞŶƵĞĨƌŽŵ
ƚŚĞƐĂůĞŽĨĞƋƵŝƉŵĞŶƚĂŶĚĂŌĞƌͲƐĂůĞƐŵĂŝŶƚĞŶĂŶĐĞĂƌĞƌĞĐŽŐŶŝƐĞĚƌĞƐƉĞĐƟǀĞůLJŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞĐƵƐƚŽŵĞƌ
ĂĐĐĞƉƚƐƚŚĞĚĞůŝǀĞƌLJŽĨƚŚĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐƌĞŶĚĞƌĞĚ͘WĂƌƚƐĐƌĞĚŝƚƌĞƉƌĞƐĞŶƚƐƉƌĞƉĂŝĚĂŵŽƵŶƚƐĨŽƌĞƋƵŝƉŵĞŶƚ
ƉĂƌƚƐǁŚŝĐŚĐƵƐƚŽŵĞƌƐǁŝůůƌĞĚĞĞŵŝŶƚŚĞĨƵƚƵƌĞ͘ƌĞĚŝƚŝƐŐŝǀĞŶƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞƐĂůĞŽĨŵĂĐŚŝŶĞďĂƐĞĚŽŶ
ŶĞŐŽƟĂƚĞĚƚĞƌŵƐǁŝƚŚƚŚĞĐƵƐƚŽŵĞƌ͘ZĞǀĞŶƵĞĨƌŽŵƉĂƌƚƐĐƌĞĚŝƚĂƌĞƌĞĐŽŐŶŝƐĞĚƵƉŽŶƵƟůŝƐĂƟŽŶŽĨĐƌĞĚŝƚĨŽƌƉĂƌƚƐ
ĞdžĐŚĂŶŐĞ͘

 ŽŶƚƌĂĐƚƐƚŚĂƚďƵŶĚůĞƚŚĞƐĂůĞĂŶĚŝŶƐƚĂůůĂƟŽŶŽĨŐĞŶĞƌĂƚŽƌƐĞƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂƐĂƐŝŶŐůĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶ
ĂƐƚŚĞŝŶƐƚĂůůĂƟŽŶŝŶĐůƵĚĞƐĂƐŝŐŶŝĮĐĂŶƚŝŶƚĞŐƌĂƟŽŶƐĞƌǀŝĐĞ͘ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚƉƌŽŐƌĞƐƐŝǀĞůLJďĂƐĞĚŽŶƚŚĞ
ƉĞƌĐĞŶƚĂŐĞŽĨĐŽŵƉůĞƟŽŶĚĞƚĞƌŵŝŶĞĚďLJƌĞĨĞƌĞŶĐĞƚŽƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞƉŚLJƐŝĐĂůƉƌŽƉŽƌƟŽŶŽĨĐŽŶƚƌĂĐƚǁŽƌŬ
ƚŽͲĚĂƚĞ͘

;ďͿ džƚĞŶĚĞĚǁĂƌƌĂŶƚLJƉƌŽŐƌĂŵŵĞ

 dŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐĂŶĞdžƚĞŶĚĞĚǁĂƌƌĂŶƚLJƉƌŽŐƌĂŵŵĞǁŚĞƌĞĐƵƐƚŽŵĞƌƐĂƌĞŐŝǀĞŶĂŶĂĚĚŝƟŽŶĂůϭϮŵŽŶƚŚƐ
ǁĂƌƌĂŶƚLJŝŶĂĚĚŝƟŽŶƚŽƐƚĂŶĚĂƌĚǁĂƌƌĂŶƚLJ͘ZĞǀĞŶƵĞĨŽƌƚŚĞĞdžƚĞŶĚĞĚǁĂƌƌĂŶƚLJŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚ
ƚŚĞǁĂƌƌĂŶƚLJƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚ͘EŽĞůĞŵĞŶƚŽĨĮŶĂŶĐŝŶŐŝƐĚĞĞŵĞĚƉƌĞƐĞŶƚĂƐƚŚĞƐĂůĞƐĂƌĞŵĂĚĞŽŶŶŽƌŵĂů
ĐƌĞĚŝƚƚĞƌŵƐ͘KďůŝŐĂƟŽŶƐƚŽƌĞƉĂŝƌŽƌƌĞƉůĂĐĞĨĂƵůƚLJƉƌŽĚƵĐƚƐƵŶĚĞƌƐƚĂŶĚĂƌĚǁĂƌƌĂŶƚLJƚĞƌŵƐŝƐƌĞĐŽŐŶŝƐĞĚĂƐĂ
ƉƌŽǀŝƐŝŽŶ͘

;ĐͿ ŽŶƐƚƌƵĐƟŽŶŽĨĞƋƵŝƉŵĞŶƚ

 ŽŶƚƌĂĐƚƐĨŽƌĐŽŶƐƚƌƵĐƟŽŶŽĨĞƋƵŝƉŵĞŶƚĐŽŵƉƌŝƐĞŵƵůƟƉůĞĚĞůŝǀĞƌĂďůĞƐǁŚŝĐŚŝŶĐůƵĚĞĂƐŝŐŶŝĮĐĂŶƚŝŶƚĞŐƌĂƟŽŶ
ƐĞƌǀŝĐĞĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞƌĞĐŽŐŶŝƐĞĚĂƐĂƐŝŶŐůĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶ͘ZĞǀĞŶƵĞĂƌĞƌĞĐŽŐŶŝƐĞĚƉƌŽŐƌĞƐƐŝǀĞůLJ
ďĂƐĞĚŽŶƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨĐŽŵƉůĞƟŽŶĚĞƚĞƌŵŝŶĞĚďLJƌĞĨĞƌĞŶĐĞƚŽƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞƉŚLJƐŝĐĂůƉƌŽƉŽƌƟŽŶŽĨ
ĐŽŶƚƌĂĐƚǁŽƌŬƚŽͲĚĂƚĞ͘

page 154 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŝ͘ /ŶĚƵƐƚƌŝĂů;ĐŽŶƟŶƵĞĚͿ

;ĚͿ ^ĂůĞĂŶĚŽƉĞƌĂƟŶŐůĞĂƐĞďĂĐŬĂƌƌĂŶŐĞŵĞŶƚƐ

 ^ĂůĞƐŽĨĞƋƵŝƉŵĞŶƚĂƌŝƐŝŶŐĨƌŽŵƐĂůĞĂŶĚŽƉĞƌĂƟŶŐůĞĂƐĞďĂĐŬĂƌƌĂŶŐĞŵĞŶƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞ'ƌŽƵƉ
ƚƌĂŶƐĨĞƌƐĐŽŶƚƌŽůŽĨƚŚĞĞƋƵŝƉŵĞŶƚƚŽƚŚĞĐƵƐƚŽŵĞƌ͕ďĞŝŶŐǁŚĞŶƚŚĞĐƵƐƚŽŵĞƌĂĐĐĞƉƚƐĚĞůŝǀĞƌLJŽĨƚŚĞĞƋƵŝƉŵĞŶƚ͘
/ĨŝƚŝƐĐůĞĂƌƚŚĂƚƚŚĞƐĂůĞĂŶĚŽƉĞƌĂƟŶŐůĞĂƐĞďĂĐŬƚƌĂŶƐĂĐƟŽŶŝƐĞƐƚĂďůŝƐŚĞĚĂƚĨĂŝƌǀĂůƵĞ͕ƚŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞƐĂŶLJ
ƉƌŽĮƚŽƌůŽƐƐŝŵŵĞĚŝĂƚĞůLJ͘/ĨƚŚĞƐĂůĞƉƌŝĐĞŝƐďĞůŽǁĨĂŝƌǀĂůƵĞ͕ƚŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞƐŝŵŵĞĚŝĂƚĞůLJĂŶLJƉƌŽĮƚŽƌůŽƐƐ
ĞdžĐĞƉƚǁŚĞŶƚŚĞůŽƐƐŝƐĐŽŵƉĞŶƐĂƚĞĚĨŽƌďLJĨƵƚƵƌĞůĞĂƐĞƉĂLJŵĞŶƚƐĂƚďĞůŽǁŵĂƌŬĞƚƉƌŝĐĞ͕ŝŶǁŚŝĐŚĐĂƐĞƚŚĞ'ƌŽƵƉ
ĚĞĨĞƌƐĂŶĚĂŵŽƌƟƐĞƐƚŚĞůŽƐƐŝŶƉƌŽƉŽƌƟŽŶƚŽƚŚĞůĞĂƐĞƉĂLJŵĞŶƚƐŽǀĞƌƚŚĞƉĞƌŝŽĚĨŽƌǁŚŝĐŚƚŚĞĂƐƐĞƚŝƐĞdžƉĞĐƚĞĚ
ƚŽďĞƵƐĞĚ͘/ĨƚŚĞƐĂůĞƉƌŝĐĞŝƐĂďŽǀĞĨĂŝƌǀĂůƵĞ͕ƚŚĞ'ƌŽƵƉĚĞĨĞƌƐƚŚĞĞdžĐĞƐƐŽǀĞƌĨĂŝƌǀĂůƵĞĂŶĚĂŵŽƌƟƐĞƐƚŚĞĞdžĐĞƐƐ
ŽǀĞƌƚŚĞƉĞƌŝŽĚĨŽƌǁŚŝĐŚƚŚĞĂƐƐĞƚŝƐĞdžƉĞĐƚĞĚƚŽďĞƵƐĞĚ͘

;ĞͿ ŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ

 ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐŝŶǀŽůǀŝŶŐĞŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐĐŽŵƉƌŝƐĞŵƵůƟƉůĞĚĞůŝǀĞƌĂďůĞƐǁŚŝĐŚĂƌĞŚŝŐŚůLJŝŶƚĞŐƌĂƚĞĚ͕
ĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞƌĞĐŽŐŶŝƐĞĚĂƐĂƐŝŶŐůĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶ͘ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚƉƌŽŐƌĞƐƐŝǀĞůLJďĂƐĞĚŽŶƚŚĞ
ƉĞƌĐĞŶƚĂŐĞŽĨĐŽŵƉůĞƟŽŶĚĞƚĞƌŵŝŶĞĚďLJƌĞĨĞƌĞŶĐĞƚŽƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞƉŚLJƐŝĐĂůƉƌŽƉŽƌƟŽŶŽĨĐŽŶƚƌĂĐƚǁŽƌŬ
ƚŽͲĚĂƚĞ͘

ŝŝ͘ DŽƚŽƌƐ
 dŚĞ'ƌŽƵƉŝƐƚŚĞĂƵƚŚŽƌŝƐĞĚĚŝƐƚƌŝďƵƚŽƌŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐĂŶĚĂůƐŽŽƉĞƌĂƚĞƐĂŶĞƚǁŽƌŬŽĨĚĞĂůĞƌƐŚŝƉƐƐĞůůŝŶŐǀĞŚŝĐůĞƐ
ĂŶĚƉĂƌƚƐĂŶĚŽīĞƌŝŶŐĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ͘DŽƚŽƌƐƐĞŐŵĞŶƚƌĞǀĞŶƵĞĐŽŶƐŝƐƚƐŽĨƐĂůĞƐŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐ͕ĂŌĞƌͲƐĂůĞƐ
ƐĞƌǀŝĐĞƐ͕ĂƐƐĞŵďůLJŽĨǀĞŚŝĐůĞƐĂŶĚŚĂŶĚůŝŶŐĂŶĚĐŽŵŵŝƐƐŝŽŶŝŶĐŽŵĞ͘

;ĂͿ ^ĂůĞŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐ

 ZĞǀĞŶƵĞĨƌŽŵƐĂůĞŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞ'ƌŽƵƉƐĞůůƐƚŚĞǀĞŚŝĐůĞƚŽĐƵƐƚŽŵĞƌƐĂŶĚĐŽŶƚƌŽůŽĨ
ƚŚĞǀĞŚŝĐůĞĂŶĚƉĂƌƚƐŚĂƐƚƌĂŶƐĨĞƌƌĞĚ͕ďĞŝŶŐǁŚĞŶƚŚĞǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐĂƌĞĚĞůŝǀĞƌĞĚƚŽƚŚĞĐƵƐƚŽŵĞƌ͘dŚĞƌĞƚĂŝů
ƐĂůĞŽĨƉĂƌƚƐŶŽƌŵĂůůLJŽĐĐƵƌƐĚƵƌŝŶŐƉĞƌĨŽƌŵĂŶĐĞŽĨĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ͘dŚĞƌĞĨŽƌĞ͕ƌĞǀĞŶƵĞĨƌŽŵƐĂůĞŽĨƉĂƌƚƐŝƐ
ĐŽŵďŝŶĞĚǁŝƚŚƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ͘

 dŚĞǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐĂƌĞŽŌĞŶƐŽůĚǁŝƚŚǀŽůƵŵĞďĂƐĞĚĚŝƐĐŽƵŶƚƐĂŶĚŝŶĐĞŶƟǀĞƐďĂƐĞĚŽŶĂŐŐƌĞŐĂƚĞƐĂůĞƐŽǀĞƌ
ĂŶĂŐƌĞĞĚƉĞƌŝŽĚ͘ĐĐƵŵƵůĂƚĞĚĞdžƉĞƌŝĞŶĐĞŝƐƵƐĞĚƚŽĞƐƟŵĂƚĞĂŶĚƉƌŽǀŝĚĞĨŽƌƚŚĞĚŝƐĐŽƵŶƚƐĂŶĚŝŶĐĞŶƟǀĞƐ͕ƵƐŝŶŐ
ĞdžƉĞĐƚĞĚǀĂůƵĞŽƌŵŽƐƚůŝŬĞůLJŵĞƚŚŽĚƐĚĞƉĞŶĚŝŶŐŽŶƚŚĞƚLJƉĞŽĨĚŝƐĐŽƵŶƚƐĂŶĚŝŶĐĞŶƟǀĞƐ͘ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚ
ƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚŝƚŝƐŚŝŐŚůLJƉƌŽďĂďůĞƚŚĂƚĂƐŝŐŶŝĮĐĂŶƚƌĞǀĞƌƐĂůǁŝůůŶŽƚŽĐĐƵƌ͘ĐŽŶƚƌĂĐƚůŝĂďŝůŝƚLJŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌ
ƚŚĞĞdžƉĞĐƚĞĚĚŝƐĐŽƵŶƚƐĂŶĚŝŶĐĞŶƟǀĞƐƉĂLJĂďůĞƚŽĐƵƐƚŽŵĞƌƐŝŶƌĞůĂƟŽŶƚŽƐĂůĞƐŵĂĚĞ͘

ANNUAL REPORT 2018 page 155

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ DŽƚŽƌƐ;ĐŽŶƟŶƵĞĚͿ

;ĂͿ ^ĂůĞŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐ;ĐŽŶƟŶƵĞĚͿ

 ŽŶƐŝƐƚĞŶƚǁŝƚŚŵĂƌŬĞƚƉƌĂĐƟĐĞ͕ƚŚĞ'ƌŽƵƉĐŽůůĞĐƚƐĚĞƉŽƐŝƚƐĨƌŽŵĐƵƐƚŽŵĞƌƐĨŽƌƚŚĞƐĂůĞŽĨǀĞŚŝĐůĞƐ͘ĐŽŶƚƌĂĐƚ
ůŝĂďŝůŝƚLJŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞĐƵƐƚŽŵĞƌĚĞƉŽƐŝƚƐĂƐƚŚĞ'ƌŽƵƉŚĂƐĂŶŽďůŝŐĂƟŽŶƚŽƚƌĂŶƐĨĞƌǀĞŚŝĐůĞƚŽƚŚĞĐƵƐƚŽŵĞƌ
ŝŶƌĞƐƉĞĐƚŽĨĚĞƉŽƐŝƚƐƌĞĐĞŝǀĞĚ͘ƵƐƚŽŵĞƌĚĞƉŽƐŝƚƐǁŽƵůĚďĞƌĞĐŽŐŶŝƐĞĚĂƐƌĞǀĞŶƵĞƵƉŽŶƐĂůĞŽĨƚŚĞǀĞŚŝĐůĞƚŽ
ƚŚĞĐƵƐƚŽŵĞƌ͘

 EŽĞůĞŵĞŶƚŽĨĮŶĂŶĐŝŶŐŝƐĚĞĞŵĞĚƉƌĞƐĞŶƚĂƐƚŚĞƐĂůĞƐĂƌĞŵĂĚĞǁŝƚŚĂĐƌĞĚŝƚƚĞƌŵŽĨϯϬƚŽϲϬĚĂLJƐ͕ǁŚŝĐŚŝƐ
ĐŽŶƐŝƐƚĞŶƚǁŝƚŚŵĂƌŬĞƚƉƌĂĐƟĐĞ͘dŚĞ'ƌŽƵƉ͛ƐŽďůŝŐĂƟŽŶƚŽƉƌŽǀŝĚĞǁĂƌƌĂŶƚLJĨŽƌƚŚĞǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐƵŶĚĞƌƚŚĞ
ƐƚĂŶĚĂƌĚǁĂƌƌĂŶƚLJƚĞƌŵƐŝƐƌĞĐŽŐŶŝƐĞĚĂƐĂƉƌŽǀŝƐŝŽŶ;ƐĞĞEŽƚĞϰϯͿ͘

 ƐƵďƐŝĚŝĂƌLJŽīĞƌƐĂŶĂƌƌĂŶŐĞŵĞŶƚǁŚĞƌĞďLJĂĐƵƐƚŽŵĞƌĐĂŶƉƵƌĐŚĂƐĞĂŶĞǁǀĞŚŝĐůĞƵŶĚĞƌŐƵĂƌĂŶƚĞĞĚƌĞƐĂůĞǀĂůƵĞ
ƐĐŚĞŵĞǁŝƚŚĂƌŝŐŚƚƚŽƌĞƚƵƌŶƚŚĞǀĞŚŝĐůĞŝŶƚŚƌĞĞƚŽĮǀĞLJĞĂƌƐĂŌĞƌƚŚĞĚĂƚĞŽĨƐĂůĞ͘dŚĞƌĞĨŽƌĞ͕ĂƌĞĨƵŶĚůŝĂďŝůŝƚLJ
;ǁŝƚŚĐŽƌƌĞƐƉŽŶĚŝŶŐĂĚũƵƐƚŵĞŶƚƚŽƌĞǀĞŶƵĞͿĂŶĚĂƌŝŐŚƚƚŽƌĞƚƵƌŶĞĚŐŽŽĚƐ;ǁŝƚŚĐŽƌƌĞƐƉŽŶĚŝŶŐĂĚũƵƐƚŵĞŶƚƚŽĐŽƐƚ
ŽĨƐĂůĞƐͿŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌƚŚĞǀĞŚŝĐůĞƐĞdžƉĞĐƚĞĚƚŽďĞƌĞƚƵƌŶĞĚ͘ĐĐƵŵƵůĂƚĞĚĞdžƉĞƌŝĞŶĐĞŝƐƵƐĞĚƚŽĞƐƟŵĂƚĞƐƵĐŚ
ƌĞƚƵƌŶƐĂƚƚŚĞƟŵĞŽĨƐĂůĞ;ĞdžƉĞĐƚĞĚǀĂůƵĞŵĞƚŚŽĚͿ͘

 ƌĞĐĞŝǀĂďůĞŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞǀĞŚŝĐůĞƐĂƌĞĚĞůŝǀĞƌĞĚĂƐƚŚŝƐŝƐƚŚĞƉŽŝŶƚŝŶƟŵĞƚŚĂƚƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶŝƐ
ƵŶĐŽŶĚŝƟŽŶĂůďĞĐĂƵƐĞŽŶůLJƚŚĞƉĂƐƐĂŐĞŽĨƟŵĞŝƐƌĞƋƵŝƌĞĚďĞĨŽƌĞƉĂLJŵĞŶƚŝƐĚƵĞ͘

;ďͿ ŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ

 dŚĞ'ƌŽƵƉƉƌŽǀŝĚĞƐĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐŽƌƌŽƵƟŶĞǀĞŚŝĐůĞŵĂŝŶƚĞŶĂŶĐĞƐĞƌǀŝĐĞƐǁŝƚŚŝŶĂŶĚͬŽƌŽƵƚƐŝĚĞŽĨƚŚĞ
ǁĂƌƌĂŶƚLJƉĞƌŝŽĚŝŶƌĞůĂƟŽŶƚŽƚŚĞǀĞŚŝĐůĞďƌĂŶĚƐƚŚĂƚƚŚĞ'ƌŽƵƉƐĞůůƐ͘dŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨŵĂŝŶƚĞŶĂŶĐĞƐĞƌǀŝĐĞƐ
ŝƐŽŌĞŶĂĐĐŽŵƉĂŶŝĞĚǁŝƚŚƚŚĞƐĂůĞŽĨƉĂƌƚƐ͘ZĞǀĞŶƵĞĨƌŽŵĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐŝƐƌĞĐŽŐŶŝƐĞĚŽǀĞƌƚŚĞƉĞƌŝŽĚŽĨ
ƉĞƌĨŽƌŵĂŶĐĞŽĨƐĞƌǀŝĐĞƐƚŽĐƵƐƚŽŵĞƌƐ͘

 dŚĞƐĂůĞŽĨǀĞŚŝĐůĞƚŽƚŚĞĐƵƐƚŽŵĞƌŵĂLJďĞďƵŶĚůĞĚƚŽŐĞƚŚĞƌǁŝƚŚĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐĂŶĚͬŽƌĨƌĞĞƐĞƌǀŝĐĞƐ͘
dŚĞĞdžƚĞŶĚĞĚǁĂƌƌĂŶƚLJƉƌŽǀŝĚĞƐĂƐƐƵƌĂŶĐĞƚŽƚŚĞĐƵƐƚŽŵĞƌƚŚĂƚƚŚĞǀĞŚŝĐůĞƉĂƌƚƐĐŽŵƉůLJǁŝƚŚĂŐƌĞĞͲƵƉŽŶ
ƐƉĞĐŝĮĐĂƟŽŶƐďĞLJŽŶĚƚŚĞŐĞŶĞƌĂůƐƚĂŶĚĂƌĚǁĂƌƌĂŶƚLJƉĞƌŝŽĚ͘dŚĞĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐĂŶĚĨƌĞĞƐĞƌǀŝĐĞƐĂƌĞ
ƐĞƉĂƌĂƚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐĂŶĚƚŚĞƚƌĂŶƐĂĐƟŽŶƉƌŝĐĞŝƐĂůůŽĐĂƚĞĚƚŽƚŚĞƐĞƌǀŝĐĞŽďůŝŐĂƟŽŶƐďĂƐĞĚŽŶŝƚƐ
ƌĞůĂƟǀĞƐƚĂŶĚĂůŽŶĞƐĞůůŝŶŐƉƌŝĐĞƐ͘dŚĞĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐĂŶĚĨƌĞĞƐĞƌǀŝĐĞƐĂƌĞĚĞĨĞƌƌĞĚĂŶĚƌĞĐŽŐŶŝƐĞĚŽǀĞƌƚŚĞ
ƉĞƌŝŽĚĐŽǀĞƌĞĚďLJƚŚĞĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐĂŶĚǁŚĞŶƚŚĞĨƌĞĞƐĞƌǀŝĐĞƐĂƌĞƉĞƌĨŽƌŵĞĚƌĞƐƉĞĐƟǀĞůLJ͘

 dŚĞƌĞŝƐŶŽƐŝŐŶŝĮĐĂŶƚĮŶĂŶĐŝŶŐĐŽŵƉŽŶĞŶƚŝŶƚŚĞƐĂůĞŽĨĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐĂŶĚͬŽƌĨƌĞĞƐĞƌǀŝĐĞƐĂƐƚŚĞƐĂůĞƐ
ĂƌĞŵĂĚĞŽŶŶŽƌŵĂůĐƌĞĚŝƚƚĞƌŵƐŶŽƚĞdžĐĞĞĚŝŶŐϭϮŵŽŶƚŚƐ͘tŚĞƌĞĐŽŶƐŝĚĞƌĂƟŽŶŝƐĐŽůůĞĐƚĞĚĨƌŽŵĐƵƐƚŽŵĞƌƐŝŶ
ĂĚǀĂŶĐĞŽĨƐĞƌǀŝĐĞƐďĞŝŶŐƉĞƌĨŽƌŵĞĚ͕ĂĐŽŶƚƌĂĐƚůŝĂďŝůŝƚLJŝƐƌĞĐŽŐŶŝƐĞĚ͘dŚĞĐŽŶƚƌĂĐƚůŝĂďŝůŝƚLJǁŽƵůĚďĞƌĞĐŽŐŶŝƐĞĚĂƐ
ƌĞǀĞŶƵĞǁŚĞŶƚŚĞƌĞůĂƚĞĚƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚ͘

page 156 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ DŽƚŽƌƐ;ĐŽŶƟŶƵĞĚͿ

;ĐͿ ƐƐĞŵďůLJŽĨǀĞŚŝĐůĞƐ

 dŚĞ'ƌŽƵƉŵĂŶƵĨĂĐƚƵƌĞƐĂŶĚĂƐƐĞŵďůĞƐůŝŐŚƚĐŽŵŵĞƌĐŝĂůĂŶĚƉĂƐƐĞŶŐĞƌǀĞŚŝĐůĞƐ͕ĂŶĚĂƌĞĐŽŶƚƌĂĐƚĂƐƐĞŵďůĞƌƐ
ŽĨŵŽƚŽƌǀĞŚŝĐůĞƐ͘ZĞǀĞŶƵĞĂƌŝƐŝŶŐĨƌŽŵƚŚĞĂƐƐĞŵďůLJŽĨǀĞŚŝĐůĞƐŝƐĞŝƚŚĞƌƌĞĐŽŐŶŝƐĞĚƵƉŽŶĐŽŵƉůĞƟŽŶŽĨƚŚĞ
ĂƐƐĞŵďůLJƐĞƌǀŝĐĞŽƌŽǀĞƌƚŚĞƉĞƌŝŽĚǁŚĞŶĂƐƐĞŵďůLJƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚďĂƐĞĚŽŶƚŚĞĐŽŶƚƌĂĐƚƵĂůƚĞƌŵƐǁŝƚŚƚŚĞ
ĐƵƐƚŽŵĞƌƐ͘

 ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌĐĞƌƚĂŝŶĂƐƐĞŵďůLJĐƵƐƚŽŵĞƌƐǁŚĞŶĐŽŶƚƌŽůŽĨǀĞŚŝĐůĞƐŚĂƐƚƌĂŶƐĨĞƌƌĞĚ͕ďĞŝŶŐǁŚĞŶƚŚĞ
ǀĞŚŝĐůĞƐĂƌĞĚĞůŝǀĞƌĞĚƚŽƚŚĞĐƵƐƚŽŵĞƌ͕ƚŚĞĐƵƐƚŽŵĞƌŚĂƐĨƵůůĚŝƐĐƌĞƟŽŶŽǀĞƌƚŚĞĐŚĂŶŶĞůĂŶĚƉƌŝĐĞƚŽƐĞůůƚŚĞ
ǀĞŚŝĐůĞĂŶĚƚŚĞƌĞŝƐŶŽƵŶĨƵůĮůůĞĚŽďůŝŐĂƟŽŶƚŚĂƚĐŽƵůĚĂīĞĐƚƚŚĞĐƵƐƚŽŵĞƌƐ͛ĂĐĐĞƉƚĂŶĐĞŽĨƚŚĞǀĞŚŝĐůĞƐ͘ĞůŝǀĞƌLJ
ŽĐĐƵƌƐǁŚĞŶƚŚĞǀĞŚŝĐůĞƐŚĂǀĞďĞĞŶĂĐĐĞƉƚĞĚďLJƚŚĞĐƵƐƚŽŵĞƌƐƵƉŽŶĐŽŵƉůĞƟŽŶŽĨƚŚĞĂƐƐĞŵďůLJƐĞƌǀŝĐĞ͘

 ZĞǀĞŶƵĞĨƌŽŵƚŚĞƐĞƐĞƌǀŝĐĞƐŝƐƌĞĐŽŐŶŝƐĞĚďĂƐĞĚŽŶƚŚĞĮdžĞĚƉƌŝĐĞƐƉĞĐŝĮĞĚŝŶƚŚĞĐŽŶƚƌĂĐƚĂŶĚƚŚĞǀĂƌŝĂďůĞ
ĞdžƉĞŶƐĞƐƌĞĐŽǀĞƌĂďůĞĨƌŽŵƚŚĞĐƵƐƚŽŵĞƌƐ͕ďĂƐĞĚŽŶƚŚĞĂŐŐƌĞŐĂƚĞƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚŽǀĞƌĂŶĂŐƌĞĞĚƉĞƌŝŽĚ͘
ĐĐƵŵƵůĂƚĞĚĞdžƉĞƌŝĞŶĐĞŝƐƵƐĞĚƚŽĞƐƟŵĂƚĞĂŶĚƉƌŽǀŝĚĞĨŽƌƚŚĞǀĂƌŝĂďůĞĞdžƉĞŶƐĞƐƌĞĐŽǀĞƌĂďůĞ͕ƵƐŝŶŐƚŚĞĞdžƉĞĐƚĞĚ
ǀĂůƵĞŵĞƚŚŽĚ͕ĂŶĚƌĞǀĞŶƵĞŝƐŽŶůLJƌĞĐŽŐŶŝƐĞĚƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚŝƚŝƐŚŝŐŚůLJƉƌŽďĂďůĞƚŚĂƚĂƐŝŐŶŝĮĐĂŶƚƌĞǀĞƌƐĂůǁŝůů
ŶŽƚŽĐĐƵƌ͘dŚĞƌĞŝƐŶŽƐŝŐŶŝĮĐĂŶƚĮŶĂŶĐŝŶŐĐŽŵƉŽŶĞŶƚŝŶƚŚĞƌĞǀĞŶƵĞĂƌŝƐŝŶŐĨƌŽŵĂƐƐĞŵďůLJŽĨǀĞŚŝĐůĞƐĂƐƚŚĞƐĂůĞƐ
ĂƌĞŵĂĚĞŽŶƚŚĞŶŽƌŵĂůĐƌĞĚŝƚƚĞƌŵƐŶŽƚĞdžĐĞĞĚŝŶŐϭϮŵŽŶƚŚƐ͘

 ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚŽǀĞƌƚŚĞĂƐƐĞŵďůLJƉĞƌŝŽĚĨŽƌĐĞƌƚĂŝŶĂƐƐĞŵďůLJĐƵƐƚŽŵĞƌƐŝĨƚŚĞǀĞŚŝĐůĞƐďĞŝŶŐĂƐƐĞŵďůĞĚĚŽ
ŶŽƚŚĂǀĞĂŶLJĂůƚĞƌŶĂƟǀĞƵƐĞĂŶĚǁŚĞŶƚŚĞ'ƌŽƵƉŝƐĂďůĞƚŽĞŶĨŽƌĐĞƉĂLJŵĞŶƚĨŽƌƉĞƌĨŽƌŵĂŶĐĞĐŽŵƉůĞƚĞĚƚŽĚĂƚĞ
ĚƵƌŝŶŐƚŚĞĂƐƐĞŵďůLJƉĞƌŝŽĚ͘

 ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚďĂƐĞĚŽŶƚŚĞĂĐƚƵĂůĐŽƐƚƐŝŶĐƵƌƌĞĚĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚƉůƵƐĂƉƌŽƉŽƌƟŽŶŽĨ
ƚŚĞĞdžƉĞĐƚĞĚƉƌŽĮƚŵĂƌŐŝŶǁŝƚŚƚŚĞĐƵƐƚŽŵĞƌ͘dŚŝƐŵĞƚŚŽĚƌĞƉƌĞƐĞŶƚƐĂĨĂŝƚŚĨƵůĚĞƉŝĐƟŽŶŽĨƚŚĞƐĞƌǀŝĐĞĂƐƚŚĞ
ĂĐƚƵĂůĐŽƐƚƐŝŶĐƵƌƌĞĚƌĞƉƌĞƐĞŶƚƐƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨƐĞƌǀŝĐĞƌĞŶĚĞƌĞĚ͘

 ƐƟŵĂƚĞƐŽĨƌĞǀĞŶƵĞƐŽƌĞdžƉĞĐƚĞĚƉƌŽĮƚŵĂƌŐŝŶĂƌĞƌĞǀŝƐĞĚŝĨĐŝƌĐƵŵƐƚĂŶĐĞƐĐŚĂŶŐĞ͘ŶLJƌĞƐƵůƟŶŐŝŶĐƌĞĂƐĞƐŽƌ
ĚĞĐƌĞĂƐĞƐŝŶĞƐƟŵĂƚĞĚƌĞǀĞŶƵĞƐĂƌĞƌĞŇĞĐƚĞĚŝŶƉƌŽĮƚŽƌůŽƐƐŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐƚŚĂƚŐŝǀĞ
ƌŝƐĞƚŽƚŚĞƌĞǀŝƐŝŽŶďĞĐŽŵĞŬŶŽǁŶďLJŵĂŶĂŐĞŵĞŶƚ͘dŚĞ'ƌŽƵƉ͛ƐŽďůŝŐĂƟŽŶƚŽƉƌŽǀŝĚĞǁĂƌƌĂŶƚLJĨŽƌƚŚĞǀĞŚŝĐůĞƐ
ƵŶĚĞƌƚŚĞƐƚĂŶĚĂƌĚǁĂƌƌĂŶƚLJƚĞƌŵƐŝƐƌĞĐŽŐŶŝƐĞĚĂƐĂƉƌŽǀŝƐŝŽŶ͘

ANNUAL REPORT 2018 page 157

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ DŽƚŽƌƐ;ĐŽŶƟŶƵĞĚͿ

;ĚͿ ,ĂŶĚůŝŶŐĂŶĚĐŽŵŵŝƐƐŝŽŶŝŶĐŽŵĞ

 ZĞǀĞŶƵĞĂƌŝƐŝŶŐĨƌŽŵƌĞŶĚĞƌŝŶŐƐĞƌǀŝĐĞƐ͕ŚĂŶĚůŝŶŐŝŶĐŽŵĞĂŶĚĐŽŵŵŝƐƐŝŽŶŝŶĐŽŵĞŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞƌĞůĞǀĂŶƚ
ƐĞƌǀŝĐĞƐĂƌĞĐŽŵƉůĞƚĞĚ͘

ŝŝŝ͘ >ŽŐŝƐƟĐƐ
 >ŽŐŝƐƟĐƐƐĞŐŵĞŶƚƌĞǀĞŶƵĞĐŽŶƐŝƐƚƐŽĨƉŽƌƚĂŶĚǁĂƚĞƌĐŚĂƌŐĞƐ͘

;ĂͿ ZĞǀĞŶƵĞĨƌŽŵƚĞƌŵŝŶĂůŚĂŶĚůŝŶŐĂŶĚƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ

 ZĞǀĞŶƵĞĨƌŽŵƉƌŽǀŝĚŝŶŐƐĞƌǀŝĐĞƐŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚ͘dŚĞƉƌŝĐĞ
ŽĨŚĂŶĚůŝŶŐĐŽŶƚƌĂĐƚƐŝƐƵƐƵĂůůLJĚĞĮŶĞĚĂƐĮdžĞĚĐŚĂƌŐĞƌĂƚĞƉĞƌƚŽŶŶĂŐĞͬĐŽŶƚĂŝŶĞƌďŽdžĞƐ͕ŚĞŶĐĞƌĞǀĞŶƵĞŝƐ
ƌĞĐŽŐŶŝƐĞĚďĂƐĞĚŽŶƚŚĞĂĐƚƵĂůƚŽŶŶĂŐĞƐͬŶƵŵďĞƌŽĨďŽdžĞƐŚĂŶĚůĞĚŵƵůƟƉůŝĞĚďLJƚŚĞĐŽŶƚƌĂĐƚĞĚĐŚĂƌŐĞƌĂƚĞƐ͘
^ŽŵĞŚĂŶĚůŝŶŐĐŽŶƚƌĂĐƚƐŝŶĐůƵĚĞŵƵůƟƉůĞĚĞůŝǀĞƌĂďůĞƐ͕ƐƵĐŚĂƐƚŚĞĐĂƌŐŽƐƚŽƌĂŐĞƐĞƌǀŝĐĞƐ͘'ĞŶĞƌĂůůLJ͕ƚŚĞƐƚŽƌĂŐĞ
ƐĞƌǀŝĐĞŝƐĐŚĂƌŐĞĚďLJĮdžĞĚƉƌŝĐĞƉĞƌĚĂLJĂŶĚŚĂƐŶŽŝŶƚĞƌͲƌĞůĂƟŽŶƐŚŝƉǁŝƚŚƚŚĞŚĂŶĚůŝŶŐĐŚĂƌŐĞƐ͘/ƚŝƐƚŚĞƌĞĨŽƌĞ
ĂĐĐŽƵŶƚĞĚĨŽƌĂƐĂƐĞƉĂƌĂƚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶĂŶĚƌĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚďĂƐĞĚŽŶƚŚĞƵŶŝƚƉƌŝĐĞŵƵůƟƉůŝĞĚ
ďLJĚĂLJƐŽĨƐƚŽƌĂŐĞ͘

;ďͿ ZĞǀĞŶƵĞĨƌŽŵƐƵƉƉůLJŽĨŝŶĚƵƐƚƌŝĂůǁĂƚĞƌ

 ZĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶĐŽŶƚƌŽůŽĨƚŚĞǁĂƚĞƌŚĂƐƚƌĂŶƐĨĞƌƌĞĚ͕ďĞŝŶŐǁŚĞŶƚŚĞǁĂƚĞƌŝƐĚĞůŝǀĞƌĞĚƚŽƚŚĞƐŝƚĞŽĨ
ĐƵƐƚŽŵĞƌƐ͘dŚĞƉƌŝĐĞŽĨƚŚĞǁĂƚĞƌŝƐďĂƐĞĚŽŶƌĞůĞǀĂŶƚŐŽǀĞƌŶŵĞŶƚĂƉƉƌŽǀĞĚƚĂƌŝīƌĂƚĞƐĚƵƌŝŶŐƚŚĞƉĞƌŝŽĚ͘dŚĞ
ǀŽůƵŵĞŝƐďĂƐĞĚŽŶƚŚĞĂĐƚƵĂůƵƐĂŐĞǀŽůƵŵĞĂƐƌĞĐŽƌĚĞĚŝŶƚŚĞŵĞƚĞƌŝŶƐƚĂůůĞĚĂƚƚŚĞĐƵƐƚŽŵĞƌƐ͛ƐŝƚĞ͘dŚĞƌĞŝƐŶŽ
ĚŝƐĐŽƵŶƚŽƌƌĞƚƵƌŶŽďůŝŐĂƟŽŶĂƩĂĐŚĞĚǁŝƚŚƚŚĞǁĂƚĞƌƐƵƉƉůLJĐŽŶƚƌĂĐƚƐ͘

ŝǀ͘ Other revenue

ZĞǀĞŶƵĞĨƌŽŵŽƚŚĞƌƐŽƵƌĐĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂƐĨŽůůŽǁƐ͗

;ĂͿ ĚŝǀŝĚĞŶĚŝŶĐŽŵĞŝƐƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞƌŝŐŚƚƚŽƌĞĐĞŝǀĞƉĂLJŵĞŶƚŝƐĞƐƚĂďůŝƐŚĞĚ͖ĂŶĚ
;ďͿ ƌĞŶƚĂůŝŶĐŽŵĞŝƐŐĞŶĞƌĂůůLJƌĞĐŽŐŶŝƐĞĚŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐŽǀĞƌƚŚĞƚĞŶƵƌĞŽĨƚŚĞůĞĂƐĞ͘

page 158 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ǀ͘ WůĂŶƚĂƟŽŶʹĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
 dŚĞ'ƌŽƵƉ͛ƐƌĞǀĞŶƵĞĨƌŽŵWůĂŶƚĂƟŽŶƐĞŐŵĞŶƚŝƐĚĞƌŝǀĞĚŵĂŝŶůLJĨƌŽŵŝƚƐƵƉƐƚƌĞĂŵĂŶĚĚŽǁŶƐƚƌĞĂŵŽƉĞƌĂƟŽŶƐ͘/ŶƚŚĞ
ƵƉƐƚƌĞĂŵŽƉĞƌĂƟŽŶƐ͕ƚŚĞ'ƌŽƵƉƐĞůůƐĂŐƌŝĐƵůƚƵƌĂůƉƌŽĚƵĐĞƐƵĐŚĂƐĐƌƵĚĞƉĂůŵŽŝů;WKͿ͕ďĞĞĨ͕ƐƵŐĂƌ͕ĨƌĞƐŚĨƌƵŝƚďƵŶĐŚĞƐ
;&&Ϳ͕ƉĂůŵŬĞƌŶĞů;W<ͿĂŶĚƌƵďďĞƌ͘/ŶƚŚĞĚŽǁŶƐƚƌĞĂŵŽƉĞƌĂƟŽŶƐ͕ƌĞǀĞŶƵĞŝƐĚĞƌŝǀĞĚĨƌŽŵƐĂůĞŽĨƌĞĮŶĞĚŽŝůƌĞůĂƚĞĚ
ƉƌŽĚƵĐƚƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨĨƌĞŝŐŚƚĂŶĚƚŽůůŝŶŐƐĞƌǀŝĐĞƐ͘

;ĂͿ ^ĂůĞŽĨĂŐƌŝĐƵůƚƵƌĂůƉƌŽĚƵĐĞĂŶĚƌĞĮŶĞĚƉĂůŵŽŝůƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ

 ZĞǀĞŶƵĞĨƌŽŵƐĂůĞƐŽĨĂŐƌŝĐƵůƚƵƌĂůƉƌŽĚƵĐĞĂŶĚƌĞĮŶĞĚƉĂůŵŽŝůƌĞůĂƚĞĚƉƌŽĚƵĐƚƐŝƐƌĞĐŽŐŶŝƐĞĚŶĞƚŽĨĚŝƐĐŽƵŶƚĂŶĚ
ƚĂdžĞƐĂƚƚŚĞƉŽŝŶƚŝŶƟŵĞǁŚĞŶĐŽŶƚƌŽůŽĨƚŚĞŐŽŽĚƐŚĂƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞĐƵƐƚŽŵĞƌ͘ĞƉĞŶĚŝŶŐŽŶƚŚĞƚĞƌŵƐŽĨ
ƚŚĞĐŽŶƚƌĂĐƚǁŝƚŚƚŚĞĐƵƐƚŽŵĞƌ͕ĐŽŶƚƌŽůƚƌĂŶƐĨĞƌƐĞŝƚŚĞƌƵƉŽŶĚĞůŝǀĞƌLJŽĨƚŚĞŐŽŽĚƐƚŽĂůŽĐĂƟŽŶƐƉĞĐŝĮĞĚďLJƚŚĞ
ĐƵƐƚŽŵĞƌĂŶĚĂĐĐĞƉƚĂŶĐĞŽĨƚŚĞŐŽŽĚƐďLJƚŚĞĐƵƐƚŽŵĞƌ͖ŽƌƵƉŽŶĚĞůŝǀĞƌLJŽĨƚŚĞŐŽŽĚƐŽŶďŽĂƌĚǀĞƐƐĞůƐŽƌƚĂŶŬĞƌƐ
ĨŽƌŽŶǁĂƌĚĚĞůŝǀĞƌLJƚŽƚŚĞĐƵƐƚŽŵĞƌ͘

 ŽŶƚƌĂĐƚƐǁŚĞƌĞĐŽŶƚƌŽůŽĨŐŽŽĚƐƚƌĂŶƐĨĞƌƚŽƚŚĞĐƵƐƚŽŵĞƌƵƉŽŶĚĞůŝǀĞƌLJŽĨƚŚĞŐŽŽĚƐŽŶďŽĂƌĚǀĞƐƐĞůƐŽƌƚĂŶŬĞƌƐ
ĂƌĞŽŌĞŶďƵŶĚůĞĚǁŝƚŚĨƌĞŝŐŚƚƐĞƌǀŝĐĞƐ͘/ŶƐƵĐŚĐŽŶƚƌĂĐƚƐ͕ƐĂůĞŽĨŐŽŽĚƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨĨƌĞŝŐŚƚĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌ
ĂƐƐĞƉĂƌĂƚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐĂƐƚŚĞĐƵƐƚŽŵĞƌĐĂŶďĞŶĞĮƚĨƌŽŵƚŚĞƐĂůĞŽĨŐŽŽĚƐĂŶĚƐŚŝƉƉŝŶŐƐĞƌǀŝĐĞƐŽŶ
ŝƚƐŽǁŶŽƌǁŝƚŚƚŚĞƵƐĞŽĨŽƚŚĞƌƌĞƐŽƵƌĐĞƐ͘dŚĞƚƌĂŶƐĂĐƟŽŶƉƌŝĐĞŝƐĂůůŽĐĂƚĞĚƚŽĞĂĐŚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶďĂƐĞĚ
ŽŶƚŚĞƐƚĂŶĚĂůŽŶĞƐĞůůŝŶŐƉƌŝĐĞƐŽĨƚŚĞŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ͘

 dŚĞƌĞŝƐŶŽĞůĞŵĞŶƚŽĨĮŶĂŶĐŝŶŐƉƌĞƐĞŶƚĂƐƚŚĞ'ƌŽƵƉ͛ƐƐĂůĞŽĨŐŽŽĚƐĂƌĞĞŝƚŚĞƌŽŶĐĂƐŚƚĞƌŵƐ;ŝŵŵĞĚŝĂƚĞ
ƉĂLJŵĞŶƚƐŽƌĂĚǀĂŶĐĞƉĂLJŵĞŶƚƐŶŽƚĞdžĐĞĞĚŝŶŐϯϬĚĂLJƐͿ͖ŽƌŽŶĐƌĞĚŝƚƚĞƌŵƐŽĨƵƉƚŽϯϬĚĂLJƐ͘dŚĞ'ƌŽƵƉ͛ƐŽďůŝŐĂƟŽŶ
ƚŽƉƌŽǀŝĚĞƋƵĂůŝƚLJĐůĂŝŵƐĂŐĂŝŶƐƚŽīͲƐƉĞĐŐŽŽĚƐƵŶĚĞƌƚŚĞ'ƌŽƵƉ͛ƐƐƚĂŶĚĂƌĚĐŽŶƚƌĂĐƚƵĂůƚĞƌŵƐŝƐƌĞĐŽŐŶŝƐĞĚĂƐ
ĂƉƌŽǀŝƐŝŽŶ͘

;ďͿ ZĞŶĚĞƌŝŶŐŽĨƐĞƌǀŝĐĞƐʹWƌŽǀŝƐŝŽŶŽĨĨƌĞŝŐŚƚ͕ƚŽůůŝŶŐĂŶĚŽƚŚĞƌƐĞƌǀŝĐĞƐ

 ZĞǀĞŶƵĞĨƌŽŵƉƌŽǀŝƐŝŽŶŽĨĨƌĞŝŐŚƚŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƐĞƌǀŝĐĞƐĂƌĞƌĞŶĚĞƌĞĚ͘/ŶĐĂƐĞƐǁŚĞƌĞ
ĐƵƐƚŽŵĞƌƐƉĂLJĨŽƌƚŚĞďƵŶĚůĞĚĐŽŶƚƌĂĐƚŝŶĂĚǀĂŶĐĞƚŽƚŚĞƌĞŶĚĞƌŝŶŐŽĨƚŚĞĨƌĞŝŐŚƚƐĞƌǀŝĐĞƐ͕ĂĚĞĨĞƌƌĞĚŝŶĐŽŵĞŝƐ
ƌĞĐŽŐŶŝƐĞĚ͘

 ZĞǀĞŶƵĞĨƌŽŵƚŚĞƉƌŽǀŝƐŝŽŶŽĨƚŽůůŝŶŐƐĞƌǀŝĐĞƐŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƚŚĞŵĂŶƵĨĂĐƚƵƌŝŶŐĂĐƟǀŝƟĞƐĂƌĞ
ƉĞƌĨŽƌŵĞĚ͘dŚĞƌĞŝƐŶŽĞůĞŵĞŶƚŽĨĮŶĂŶĐŝŶŐƉƌĞƐĞŶƚĂƐƚŚĞƐĂůĞƐŝƐŵĂĚĞǁŝƚŚĐƌĞĚŝƚƚĞƌŵƐŽĨƵƉƚŽϯϬĚĂLJƐ͘

ANNUAL REPORT 2018 page 159

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ǀŝ͘ WƌŽƉĞƌƚLJʹĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
 WƌŽƉĞƌƚLJƌĞǀĞŶƵĞƉƌŝŵĂƌŝůLJĐŽŶƐŝƐƚƐŽĨƐĂůĞƐŽĨĚĞǀĞůŽƉŵĞŶƚƉƌŽƉĞƌƟĞƐĂŶĚƌĞǀĞŶƵĞĨƌŽŵĐŽŶĐĞƐƐŝŽŶĂƌƌĂŶŐĞŵĞŶƚ͘

;ĂͿ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ

 ŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐŵĂLJŝŶĐůƵĚĞŵƵůƟƉůĞƉƌŽŵŝƐĞƐƚŽĐƵƐƚŽŵĞƌƐĂŶĚƚŚĞƌĞĨŽƌĞĂĐĐŽƵŶƚĞĚĨŽƌĂƐƐĞƉĂƌĂƚĞ
ƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐ͘/ŶƚŚŝƐĐĂƐĞ͕ƚŚĞƚƌĂŶƐĂĐƟŽŶƉƌŝĐĞǁŝůůďĞĂůůŽĐĂƚĞĚƚŽĞĂĐŚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶďĂƐĞĚ
ŽŶƚŚĞƐƚĂŶĚĂůŽŶĞƐĞůůŝŶŐƉƌŝĐĞƐ͘tŚĞŶƚŚĞƐĞĂƌĞŶŽƚĚŝƌĞĐƚůLJŽďƐĞƌǀĂďůĞ͕ƚŚĞLJĂƌĞĞƐƟŵĂƚĞĚďĂƐĞĚŽŶĞdžƉĞĐƚĞĚ
ĐŽƐƚƉůƵƐŵĂƌŐŝŶ͘

 dŚĞƌĞǀĞŶƵĞĨƌŽŵƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚŝƐŵĞĂƐƵƌĞĚĂƚƚŚĞĮdžĞĚƚƌĂŶƐĂĐƟŽŶƉƌŝĐĞĂŐƌĞĞĚƵŶĚĞƌƚŚĞƐĂůĞƐĂŶĚ
ƉƵƌĐŚĂƐĞĂŐƌĞĞŵĞŶƚ͘

 ZĞǀĞŶƵĞĨƌŽŵƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚŝƐƌĞĐŽŐŶŝƐĞĚĂƐĂŶĚǁŚĞŶƚŚĞĐŽŶƚƌŽůŽĨƚŚĞĂƐƐĞƚŝƐƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞ
ĐƵƐƚŽŵĞƌĂŶĚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚƚŚĞ'ƌŽƵƉǁŝůůĐŽůůĞĐƚƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶƚŽǁŚŝĐŚŝƚǁŝůůďĞĞŶƟƚůĞĚŝŶĞdžĐŚĂŶŐĞĨŽƌ
ƚŚĞĂƐƐĞƚƚŚĂƚǁŝůůďĞƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞĐƵƐƚŽŵĞƌ͘ĞƉĞŶĚŝŶŐŽŶƚŚĞƚĞƌŵƐŽĨƚŚĞĐŽŶƚƌĂĐƚĂŶĚƚŚĞůĂǁƐƚŚĂƚĂƉƉůLJ
ƚŽƚŚĞĐŽŶƚƌĂĐƚ͕ĐŽŶƚƌŽůŽĨƚŚĞĂƐƐĞƚŵĂLJƚƌĂŶƐĨĞƌŽǀĞƌƟŵĞŽƌĂƚĂƉŽŝŶƚŝŶƟŵĞ͘ŽŶƚƌŽůŽĨƚŚĞĂƐƐĞƚŝƐƚƌĂŶƐĨĞƌƌĞĚ
ŽǀĞƌƟŵĞŝĨƚŚĞ'ƌŽƵƉ͛ƐƉĞƌĨŽƌŵĂŶĐĞĚŽĞƐŶŽƚĐƌĞĂƚĞĂŶĂƐƐĞƚǁŝƚŚĂŶĂůƚĞƌŶĂƟǀĞƵƐĞƚŽƚŚĞ'ƌŽƵƉĂŶĚƚŚĞ'ƌŽƵƉ
ŚĂƐĂŶĞŶĨŽƌĐĞĂďůĞƌŝŐŚƚƚŽƉĂLJŵĞŶƚĨŽƌƉĞƌĨŽƌŵĂŶĐĞĐŽŵƉůĞƚĞĚƚŽĚĂƚĞ͘

 /ĨĐŽŶƚƌŽůŽĨƚŚĞĂƐƐĞƚƚƌĂŶƐĨĞƌƐŽǀĞƌƟŵĞ͕ƌĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚŽǀĞƌƚŚĞƉĞƌŝŽĚŽĨƚŚĞĐŽŶƚƌĂĐƚďLJƌĞĨĞƌĞŶĐĞƚŽƚŚĞ
ƉƌŽŐƌĞƐƐƚŽǁĂƌĚƐĐŽŵƉůĞƚĞƐĂƟƐĨĂĐƟŽŶŽĨƚŚĂƚƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶ͘KƚŚĞƌǁŝƐĞ͕ƌĞǀĞŶƵĞŝƐƌĞĐŽŐŶŝƐĞĚĂƚĂƉŽŝŶƚ
ŝŶƟŵĞǁŚĞŶƚŚĞĐƵƐƚŽŵĞƌŽďƚĂŝŶƐĐŽŶƚƌŽůŽĨƚŚĞĂƐƐĞƚ͘

 dŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞƐƌĞǀĞŶƵĞŽǀĞƌƟŵĞƵƐŝŶŐƚŚĞŽƵƚƉƵƚŵĞƚŚŽĚ͕ǁŚŝĐŚŝƐďĂƐĞĚŽŶƚŚĞůĞǀĞůŽĨĐŽŵƉůĞƟŽŶŽĨ
ƚŚĞƉŚLJƐŝĐĂůƉƌŽƉŽƌƟŽŶŽĨĐŽŶƚƌĂĐƚǁŽƌŬƚŽͲĚĂƚĞ͕ĐĞƌƟĮĞĚďLJƉƌŽĨĞƐƐŝŽŶĂůĐŽŶƐƵůƚĂŶƚƐ͘

 dŚĞƉƌŽŵŝƐĞĚƉƌŽƉĞƌƟĞƐĂƌĞƐƉĞĐŝĮĐĂůůLJŝĚĞŶƟĮĞĚďLJŝƚƐƉůŽƚ͕ůŽƚĂŶĚƉĂƌĐĞůŶƵŵďĞƌĂŶĚŝƚƐĂƩƌŝďƵƚĞƐ;ƐƵĐŚĂƐŝƚƐ
ƐŝnjĞĂŶĚůŽĐĂƟŽŶͿŝŶƚŚĞƐĂůĞĂŶĚƉƵƌĐŚĂƐĞĂŐƌĞĞŵĞŶƚƐĂŶĚƚŚĞĂƩĂĐŚĞĚůĂLJŽƵƚƉůĂŶ͘dŚĞƉƵƌĐŚĂƐĞƌƐĐŽƵůĚĞŶĨŽƌĐĞ
ŝƚƐƌŝŐŚƚƐƚŽƚŚĞƉƌŽŵŝƐĞĚƉƌŽƉĞƌƟĞƐŝĨƚŚĞ'ƌŽƵƉƐĞĞŬƐƚŽƐĞůůƚŚĞƵŶŝƚƚŽĂŶŽƚŚĞƌƉƵƌĐŚĂƐĞƌ͘dŚĞĐŽŶƚƌĂĐƚƵĂů
ƌĞƐƚƌŝĐƟŽŶŽŶƚŚĞ'ƌŽƵƉ͛ƐĂďŝůŝƚLJƚŽĚŝƌĞĐƚƚŚĞƉƌŽŵŝƐĞĚƉƌŽƉĞƌƚLJĨŽƌĂŶŽƚŚĞƌƵƐĞŝƐƐƵďƐƚĂŶƟǀĞĂŶĚƚŚĞƉƌŽŵŝƐĞĚ
ƉƌŽƉĞƌƟĞƐƐŽůĚƚŽƚŚĞƉƵƌĐŚĂƐĞƌƐĚŽŶŽƚŚĂǀĞĂŶĂůƚĞƌŶĂƟǀĞƵƐĞƚŽƚŚĞ'ƌŽƵƉ͘dŚĞ'ƌŽƵƉŚĂƐƚŚĞƌŝŐŚƚƚŽƉĂLJŵĞŶƚ
ĨŽƌƉĞƌĨŽƌŵĂŶĐĞĐŽŵƉůĞƚĞĚƚŽĚĂƚĞ͘dŚĞ'ƌŽƵƉŝƐĞŶƟƚůĞĚƚŽĐŽŶƟŶƵĞƚŽƚƌĂŶƐĨĞƌƚŽƚŚĞĐƵƐƚŽŵĞƌƚŚĞĚĞǀĞůŽƉŵĞŶƚ
ƵŶŝƚƐƉƌŽŵŝƐĞĚĂŶĚŚĂƐƚŚĞƌŝŐŚƚƐƚŽĐŽŵƉůĞƚĞƚŚĞĐŽŶƐƚƌƵĐƟŽŶŽĨƚŚĞƉƌŽƉĞƌƟĞƐĂŶĚĞŶĨŽƌĐĞŝƚƐƌŝŐŚƚƐƚŽĨƵůů
ƉĂLJŵĞŶƚ͘

 dŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞƐƐĂůĞƐĂƚĂƉŽŝŶƚŝŶƟŵĞĨŽƌƚŚĞƐĂůĞŽĨĐŽŵƉůĞƚĞĚƉƌŽƉĞƌƟĞƐ͕ǁŚĞŶƚŚĞĐŽŶƚƌŽůŽĨƚŚĞ
ƉƌŽƉĞƌƟĞƐŚĂƐďĞĞŶƚƌĂŶƐĨĞƌƌĞĚƚŽƚŚĞƉƵƌĐŚĂƐĞƌƐ͕ďĞŝŶŐǁŚĞŶƚŚĞƉƌŽƉĞƌƟĞƐŚĂǀĞďĞĞŶĚĞůŝǀĞƌĞĚƚŽƚŚĞ
ƉƵƌĐŚĂƐĞƌƐĂŶĚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚƚŚĞ'ƌŽƵƉǁŝůůĐŽůůĞĐƚƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶƐƚŽǁŚŝĐŚŝƚǁŝůůďĞĞŶƟƚůĞĚƚŽŝŶ
ĞdžĐŚĂŶŐĞĨŽƌƚŚĞĂƐƐĞƚƐƐŽůĚ͘

page 160 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ƚ͘ ZĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 WĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐďLJƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ǀŝ͘ WƌŽƉĞƌƚLJʹĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ;ĐŽŶƟŶƵĞĚͿ

;ďͿ ZĞǀĞŶƵĞĨŽƌĐŽŶĐĞƐƐŝŽŶĂƌƌĂŶŐĞŵĞŶƚ

 hŶĚĞƌƚŚĞŽŶĐĞƐƐŝŽŶŐƌĞĞŵĞŶƚ͕ƚŚĞ'ƌŽƵƉŝƐĞŶŐĂŐĞĚƚŽĐŽŶƐƚƌƵĐƚƚŚĞĨĂĐŝůŝƟĞƐĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ƐƵƉƉůLJ
ƚĞĂĐŚŝŶŐĞƋƵŝƉŵĞŶƚĂŶĚƉƌŽǀŝĚĞĂƐƐĞƚŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ͕ǁŚŝĐŚĂƌĞƐĞƉĂƌĂƚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐ͘dŚĞ
ĨĂŝƌǀĂůƵĞŽĨƌĞǀĞŶƵĞ͕ǁŚŝĐŚŝƐďĂƐĞĚŽŶĮdžĞĚƉƌŝĐĞƵŶĚĞƌƚŚĞĂŐƌĞĞŵĞŶƚŚĂǀĞďĞĞŶĂůůŽĐĂƚĞĚďĂƐĞĚŽŶƌĞůĂƟǀĞ
ƐƚĂŶĚĂůŽŶĞƐĞůůŝŶŐƉƌŝĐĞŽĨƚŚĞĐŽŶƐŝĚĞƌĂƟŽŶƐĨŽƌĞĂĐŚŽĨƚŚĞƐĞƉĂƌĂƚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐ͘dŚĞ'ƌŽƵƉ
ƌĞĐŽŐŶŝƐĞĚĐŽŶƐƚƌƵĐƟŽŶƌĞǀĞŶƵĞŽǀĞƌƟŵĞĂƐƚŚĞƉƌŽũĞĐƚďĞŝŶŐĐŽŶƐƚƌƵĐƚĞĚŚĂƐŶŽĂůƚĞƌŶĂƟǀĞƵƐĞƚŽƚŚĞ'ƌŽƵƉ
ĂŶĚƚŚĞ'ƌŽƵƉŚĂƐĂŶĞŶĨŽƌĐĞĂďůĞƌŝŐŚƚƚŽƚŚĞƉĂLJŵĞŶƚĨŽƌƚŚĞƉĞƌĨŽƌŵĂŶĐĞĐŽŵƉůĞƚĞĚƚŽĚĂƚĞ͘dŚĞƐƚĂŐĞŽĨ
ĐŽŵƉůĞƟŽŶŝƐŵĞĂƐƵƌĞĚƵƐŝŶŐƚŚĞŽƵƚƉƵƚŵĞƚŚŽĚ͕ǁŚŝĐŚŝƐďĂƐĞĚŽŶƚŚĞůĞǀĞůŽĨĐŽŵƉůĞƟŽŶŽĨƚŚĞƉŚLJƐŝĐĂů
ƉƌŽƉŽƌƟŽŶŽĨĐŽŶƚƌĂĐƚǁŽƌŬƚŽͲĚĂƚĞ͕ĐĞƌƟĮĞĚďLJƉƌŽĨĞƐƐŝŽŶĂůĐŽŶƐƵůƚĂŶƚƐ͘

Ƶ͘ &ŝŶĂŶĐĞŝŶĐŽŵĞ

 &ŝŶĂŶĐĞŝŶĐŽŵĞŝƐƌĞĐŽŐŶŝƐĞĚŽŶĂŶĂĐĐƌƵĂůďĂƐŝƐƵƐŝŶŐƚŚĞĞīĞĐƟǀĞŝŶƚĞƌĞƐƚŵĞƚŚŽĚ͘

ǀ͘ KƉĞƌĂƟŶŐůĞĂƐĞƐ

 >ĞĂƐĞƐǁŚĞƌĞƐƵďƐƚĂŶƟĂůůLJĂůůƚŚĞƌĞǁĂƌĚƐĂŶĚƌŝƐŬƐŽĨŽǁŶĞƌƐŚŝƉŽĨĂƐƐĞƚƐƌĞŵĂŝŶǁŝƚŚƚŚĞůĞƐƐŽƌĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌĂƐ
ŽƉĞƌĂƟŶŐůĞĂƐĞƐ͘ZĞŶƚĂůƐŽŶŽƉĞƌĂƟŶŐůĞĂƐĞƐĂƌĞĐŚĂƌŐĞĚƚŽƚŚĞƉƌŽĮƚŽƌůŽƐƐŽŶĂƐƚƌĂŝŐŚƚͲůŝŶĞďĂƐŝƐŽǀĞƌƚŚĞůĞĂƐĞƚĞƌŵ͘

ǁ͘ ŽƌƌŽǁŝŶŐĐŽƐƚƐ

 ŽƌƌŽǁŝŶŐĐŽƐƚƐĚŝƌĞĐƚůLJĂƩƌŝďƵƚĂďůĞƚŽƚŚĞĂĐƋƵŝƐŝƟŽŶ͕ĐŽŶƐƚƌƵĐƟŽŶŽƌƉƌŽĚƵĐƟŽŶŽĨƋƵĂůŝĨLJŝŶŐĂƐƐĞƚƐĂƌĞĐĂƉŝƚĂůŝƐĞĚƚŽƚŚĞ
ĐŽƐƚŽĨƚŚŽƐĞĂƐƐĞƚƐƵŶƟůƚŚĞĂƐƐĞƚƐĂƌĞƐƵďƐƚĂŶƟĂůůLJƌĞĂĚLJĨŽƌƚŚĞŝƌŝŶƚĞŶĚĞĚƵƐĞŽƌƐĂůĞ͘

dž͘ dĂdžĂƟŽŶ

 ĞĨĞƌƌĞĚƚĂdžŝƐƌĞĐŽŐŶŝƐĞĚŽŶƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐďĞƚǁĞĞŶƚŚĞƚĂdžďĂƐĞƐŽĨĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚƚŚĞŝƌĐĂƌƌLJŝŶŐ
ĂŵŽƵŶƚƐŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĐůƵĚŝŶŐƚŚŽƐĞĂƌŝƐŝŶŐĨƌŽŵďƵƐŝŶĞƐƐĐŽŵďŝŶĂƟŽŶƐ͘ĞĨĞƌƌĞĚƚĂdžŝƐŶŽƚƌĞĐŽŐŶŝƐĞĚŽŶ
ŐŽŽĚǁŝůůĂŶĚƚŚŽƐĞĂƌŝƐŝŶŐĨƌŽŵŝŶŝƟĂůƌĞĐŽŐŶŝƟŽŶŽĨĂŶĂƐƐĞƚŽƌůŝĂďŝůŝƚLJǁŚŝĐŚĂƚƚŚĞƟŵĞŽĨƚŚĞƚƌĂŶƐĂĐƟŽŶĂīĞĐƚƐŶĞŝƚŚĞƌ
ĂĐĐŽƵŶƟŶŐŶŽƌƚĂdžĂďůĞƉƌŽĮƚŽƌůŽƐƐ͘

ANNUAL REPORT 2018 page 161

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

dž͘ dĂdžĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ

 ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚĨƵƚƵƌĞƚĂdžĂďůĞƉƌŽĮƚǁŝůůďĞĂǀĂŝůĂďůĞĂŐĂŝŶƐƚǁŚŝĐŚ
ƚŚĞƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐĐĂŶďĞƵƟůŝƐĞĚ͘ĞĨĞƌƌĞĚƚĂdžŝƐƌĞĐŽŐŶŝƐĞĚŽŶƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐĂƌŝƐŝŶŐŽŶŝŶǀĞƐƚŵĞŶƚƐ
ŝŶƐƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐĞdžĐĞƉƚǁŚĞƌĞƚŚĞƟŵŝŶŐŽĨƚŚĞƌĞǀĞƌƐĂůŽĨƚŚĞƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞĐĂŶďĞ
ĐŽŶƚƌŽůůĞĚĂŶĚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚƚŚĞƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞǁŝůůŶŽƚƌĞǀĞƌƐĞŝŶƚŚĞĨŽƌĞƐĞĞĂďůĞĨƵƚƵƌĞ͘

 ĞĨĞƌƌĞĚƚĂdžŝƐŵĞĂƐƵƌĞĚĂƚƚŚĞƚĂdžƌĂƚĞƐ;ĂŶĚůĂǁƐͿƚŚĂƚŚĂǀĞďĞĞŶĞŶĂĐƚĞĚŽƌƐƵďƐƚĂŶƟǀĞůLJĞŶĂĐƚĞĚĂƚƚŚĞĞŶĚŽĨƚŚĞ
ƌĞƉŽƌƟŶŐƉĞƌŝŽĚĂŶĚĂƌĞĞdžƉĞĐƚĞĚƚŽĂƉƉůLJǁŚĞŶƚŚĞƌĞůĂƚĞĚĚĞĨĞƌƌĞĚŝŶĐŽŵĞƚĂdžĂƐƐĞƚŝƐƌĞĂůŝƐĞĚŽƌƚŚĞĚĞĨĞƌƌĞĚŝŶĐŽŵĞƚĂdž
ůŝĂďŝůŝƚLJŝƐƐĞƩůĞĚ͘

 dĂdžĂƟŽŶĐŽŵƉƌŝƐĞƐĐƵƌƌĞŶƚĂŶĚĚĞĨĞƌƌĞĚƚĂdž͘dĂdžŝƐƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞƉƌŽĮƚŽƌůŽƐƐ͕ĞdžĐĞƉƚƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚŝƚƌĞůĂƚĞƐƚŽŝƚĞŵƐ
ƌĞĐŽŐŶŝƐĞĚĚŝƌĞĐƚůLJŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘/ŶƚŚŝƐĐĂƐĞ͕ƚŚĞƚĂdžŝƐƌĞĐŽŐŶŝƐĞĚŝŶŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘

 dŚĞĐƵƌƌĞŶƚŝŶĐŽŵĞƚĂdžĐŚĂƌŐĞŝƐƚŚĞĞdžƉĞĐƚĞĚŝŶĐŽŵĞƚĂdžĞƐƉĂLJĂďůĞŝŶƌĞƐƉĞĐƚŽĨƚŚĞƚĂdžĂďůĞƉƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂŶĚ
ŝƐŵĞĂƐƵƌĞĚƵƐŝŶŐƚŚĞĂƉƉůŝĐĂďůĞƚĂdžƌĂƚĞƐ͘DĂŶĂŐĞŵĞŶƚƉĞƌŝŽĚŝĐĂůůLJĞǀĂůƵĂƚĞƐƉŽƐŝƟŽŶƐƚĂŬĞŶŝŶƚĂdžƌĞƚƵƌŶƐǁŝƚŚƌĞƐƉĞĐƚƚŽ
ƐŝƚƵĂƟŽŶƐŝŶǁŚŝĐŚĂƉƉůŝĐĂďůĞƚĂdžƌĞŐƵůĂƟŽŶŝƐƐƵďũĞĐƚƚŽŝŶƚĞƌƉƌĞƚĂƟŽŶ͘WƌŽǀŝƐŝŽŶƐĂƌĞĞƐƚĂďůŝƐŚĞĚǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞŽŶƚŚĞ
ďĂƐŝƐŽĨĂŵŽƵŶƚƐĞdžƉĞĐƚĞĚƚŽďĞƉĂŝĚƚŽƚŚĞƚĂdžĂƵƚŚŽƌŝƟĞƐ͘

LJ͘ ŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐ

 dŚĞ'ƌŽƵƉĚŽĞƐŶŽƚƌĞĐŽŐŶŝƐĞĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐďƵƚĚŝƐĐůŽƐĞƐƚŚĞŝƌĞdžŝƐƚĞŶĐĞŝŶƚŚĞŶŽƚĞƐƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
ĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƚLJŝƐĂƉŽƐƐŝďůĞŽďůŝŐĂƟŽŶƚŚĂƚĂƌŝƐĞƐĨƌŽŵƉĂƐƚĞǀĞŶƚƐǁŚŽƐĞĐƌLJƐƚĂůůŝƐĂƟŽŶǁŝůůďĞĐŽŶĮƌŵĞĚďLJƚŚĞ
ŽĐĐƵƌƌĞŶĐĞŽƌŶŽŶͲŽĐĐƵƌƌĞŶĐĞŽĨŽŶĞŽƌŵŽƌĞƵŶĐĞƌƚĂŝŶĨƵƚƵƌĞĞǀĞŶƚƐďĞLJŽŶĚƚŚĞĐŽŶƚƌŽůŽĨƚŚĞ'ƌŽƵƉŽƌĂƉƌĞƐĞŶƚŽďůŝŐĂƟŽŶ
ƚŚĂƚŝƐŶŽƚƌĞĐŽŐŶŝƐĞĚďĞĐĂƵƐĞŝƚŝƐŶŽƚƉƌŽďĂďůĞƚŚĂƚĂŶŽƵƞůŽǁŽĨƌĞƐŽƵƌĐĞƐǁŝůůďĞƌĞƋƵŝƌĞĚƚŽƐĞƩůĞƚŚĞŽďůŝŐĂƟŽŶ͘
ĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƚLJĂůƐŽĂƌŝƐĞƐŝŶƚŚĞĞdžƚƌĞŵĞůLJƌĂƌĞĐŝƌĐƵŵƐƚĂŶĐĞƐǁŚĞƌĞƚŚĞƌĞŝƐĂůŝĂďŝůŝƚLJƚŚĂƚŝƐŶŽƚƌĞĐŽŐŶŝƐĞĚďĞĐĂƵƐĞŝƚ
ĐĂŶŶŽƚďĞŵĞĂƐƵƌĞĚƌĞůŝĂďůLJ͘

nj͘ ^ĞŐŵĞŶƚƌĞƉŽƌƟŶŐ

 ^ĞŐŵĞŶƚŝŶĨŽƌŵĂƟŽŶŝƐƉƌĞƐĞŶƚĞĚŝŶĂŵĂŶŶĞƌƚŚĂƚŝƐĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞŝŶƚĞƌŶĂůƌĞƉŽƌƟŶŐƉƌŽǀŝĚĞĚƚŽŵĂŶĂŐĞŵĞŶƚĨŽƌƚŚĞ
ĂůůŽĐĂƟŽŶŽĨƌĞƐŽƵƌĐĞƐĂŶĚĂƐƐĞƐƐŵĞŶƚŽĨŝƚƐƉĞƌĨŽƌŵĂŶĐĞ͘dŚĞ'ƌŽƵƉ͛ƐŽƉĞƌĂƟŶŐďƵƐŝŶĞƐƐĞƐĂƌĞŽƌŐĂŶŝƐĞĚĂŶĚŵĂŶĂŐĞĚ
ƐĞƉĂƌĂƚĞůLJĂĐĐŽƌĚŝŶŐƚŽƚŚĞŶĂƚƵƌĞŽĨƚŚĞƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚ͕ǁŝƚŚĞĂĐŚƐĞŐŵĞŶƚƌĞƉƌĞƐĞŶƟŶŐĂƐƚƌĂƚĞŐŝĐďƵƐŝŶĞƐƐ
ƵŶŝƚƚŚĂƚŽīĞƌƐĚŝīĞƌĞŶƚƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀĞƐĚŝīĞƌĞŶƚŵĂƌŬĞƚƐ͘

 ^ĞŐŵĞŶƚƌĞǀĞŶƵĞ͕ƉƌŽĮƚ͕ĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƌĞƚŚŽƐĞĂŵŽƵŶƚƐƌĞƐƵůƟŶŐĨƌŽŵŽƉĞƌĂƟŶŐĂĐƟǀŝƟĞƐŽĨĂƐĞŐŵĞŶƚƚŚĂƚĂƌĞ
ĚŝƌĞĐƚůLJĂƩƌŝďƵƚĂďůĞƚŽƚŚĞƐĞŐŵĞŶƚĂŶĚƚŚĞƌĞůĞǀĂŶƚƉŽƌƟŽŶƚŚĂƚĐĂŶďĞĂůůŽĐĂƚĞĚŽŶĂƌĞĂƐŽŶĂďůĞďĂƐŝƐƚŽƚŚĞƐĞŐŵĞŶƚ͘dŚĞLJ
ĂƌĞĚĞƚĞƌŵŝŶĞĚďĞĨŽƌĞŝŶƚƌĂŐƌŽƵƉďĂůĂŶĐĞƐĂŶĚŝŶƚƌĂŐƌŽƵƉƚƌĂŶƐĂĐƟŽŶƐĂƌĞĞůŝŵŝŶĂƚĞĚĂƐƉĂƌƚŽĨƚŚĞĐŽŶƐŽůŝĚĂƟŽŶƉƌŽĐĞƐƐ͕
ĞdžĐĞƉƚƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚƐƵĐŚŝŶƚƌĂŐƌŽƵƉďĂůĂŶĐĞƐĂŶĚƚƌĂŶƐĂĐƟŽŶƐĂƌĞďĞƚǁĞĞŶ'ƌŽƵƉĐŽŵƉĂŶŝĞƐǁŝƚŚŝŶĂƐŝŶŐůĞƐĞŐŵĞŶƚ͘
/ŶƚƌĂŐƌŽƵƉƚƌĂŶƐĂĐƟŽŶƐǁŚŝĐŚŝŶƐƵďƐƚĂŶĐĞƌĞƉƌĞƐĞŶƚƌĞĂůůŽĐĂƟŽŶŽĨŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐĨƌŽŵĂƐĞŐŵĞŶƚƚŽĂŶŽƚŚĞƌƐĞŐŵĞŶƚ
ĂƌĞĂůƐŽĞůŝŵŝŶĂƚĞĚ͘/ŶƚĞƌͲƐĞŐŵĞŶƚƉƌŝĐŝŶŐŝƐďĂƐĞĚŽŶƐŝŵŝůĂƌƚĞƌŵƐĂƐƚŚŽƐĞĂǀĂŝůĂďůĞƚŽĞdžƚĞƌŶĂůƉĂƌƟĞƐ͘

page 162 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯ ^/'E/&/EdKhEd/E'WK>//^ΈKEd/EhΉ

ĂĂ͘ &ĂŝƌǀĂůƵĞĞƐƟŵĂƟŽŶ

 &ĂŝƌǀĂůƵĞƐƐŚŽǁŶŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƌĞĐĂƚĞŐŽƌŝƐĞĚŝŶƚŽƚŚƌĞĞĚŝīĞƌĞŶƚůĞǀĞůƐƚŽŝŶĐƌĞĂƐĞĐŽŶƐŝƐƚĞŶĐLJĂŶĚ
ĐŽŵƉĂƌĂďŝůŝƚLJŝŶĨĂŝƌǀĂůƵĞŵĞĂƐƵƌĞŵĞŶƚƐ͘dŚĞůĞǀĞůƐŽĨŚŝĞƌĂƌĐŚLJĂƌĞďĂƐĞĚŽŶƚŚĞŝŶƉƵƚƵƐĞĚƚŽŵĞĂƐƵƌĞƚŚĞĨĂŝƌǀĂůƵĞŽĨĂŶ
ĂƐƐĞƚŽƌĂůŝĂďŝůŝƚLJ͘dŚĞŚŝĞƌĂƌĐŚLJďĂƐĞĚŽŶŚŝŐŚĞƐƚƚŽƚŚĞůŽǁĞƐƚƉƌŝŽƌŝƚLJŝƐĂƐĨŽůůŽǁƐ͗

>ĞǀĞůϭ ʹ ƋƵŽƚĞĚƉƌŝĐĞƐŝŶĂĐƟǀĞŵĂƌŬĞƚƐĨŽƌŝĚĞŶƟĐĂůĂƐƐĞƚƐŽƌůŝĂďŝůŝƟĞƐ
>ĞǀĞůϮ ʹ ǀĂůƵĂƟŽŶŝŶƉƵƚƐ;ŽƚŚĞƌƚŚĂŶ>ĞǀĞůϭŝŶƉƵƚͿƚŚĂƚĂƌĞŽďƐĞƌǀĂďůĞĨŽƌƚŚĞĂƐƐĞƚŽƌůŝĂďŝůŝƚLJ͕ĞŝƚŚĞƌĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJ
>ĞǀĞůϯ ʹ ǀĂůƵĂƟŽŶŝŶƉƵƚƐƚŚĂƚĂƌĞŶŽƚďĂƐĞĚŽŶŽďƐĞƌǀĂďůĞŵĂƌŬĞƚĚĂƚĂ

ϰ Z/d/>KhEd/E'^d/Dd^E:h'DEd/EWW>z/E'KhEd/E'WK>//^

 dŚĞƉƌĞƉĂƌĂƟŽŶŽĨĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚD&Z^ƌĞƋƵŝƌĞƐƚŚĞƵƐĞŽĨĐĞƌƚĂŝŶĐƌŝƟĐĂůĂĐĐŽƵŶƟŶŐĞƐƟŵĂƚĞƐƚŚĂƚŝŶǀŽůǀĞ
ĐŽŵƉůĞdžĂŶĚƐƵďũĞĐƟǀĞũƵĚŐĞŵĞŶƚƐĂŶĚƚŚĞƵƐĞŽĨĂƐƐƵŵƉƟŽŶƐ͕ƐŽŵĞŽĨǁŚŝĐŚŵĂLJďĞĨŽƌŵĂƩĞƌƐƚŚĂƚĂƌĞŝŶŚĞƌĞŶƚůLJƵŶĐĞƌƚĂŝŶĂŶĚ
ƐƵƐĐĞƉƟďůĞƚŽĐŚĂŶŐĞ͘dŚĞŝƌĞĐƚŽƌƐĞdžĞƌĐŝƐĞƚŚĞŝƌũƵĚŐĞŵĞŶƚŝŶƚŚĞƉƌŽĐĞƐƐŽĨĂƉƉůLJŝŶŐƚŚĞ'ƌŽƵƉ͛ƐĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐ͘ƐƟŵĂƚĞƐ
ĂŶĚĂƐƐƵŵƉƟŽŶƐĂƌĞďĂƐĞĚŽŶƚŚĞŝƌĞĐƚŽƌƐ͛ďĞƐƚŬŶŽǁůĞĚŐĞŽĨĐƵƌƌĞŶƚĞǀĞŶƚƐ͘^ƵĐŚĞƐƟŵĂƚĞƐĂŶĚũƵĚŐĞŵĞŶƚĐŽƵůĚĐŚĂŶŐĞĨƌŽŵ
ƉĞƌŝŽĚƚŽƉĞƌŝŽĚĂŶĚŚĂǀĞĂŵĂƚĞƌŝĂůŝŵƉĂĐƚŽŶƚŚĞƌĞƐƵůƚƐ͕ĮŶĂŶĐŝĂůƉŽƐŝƟŽŶ͕ĐĂƐŚŇŽǁƐĂŶĚŽƚŚĞƌĚŝƐĐůŽƐƵƌĞƐ͘

 dŚĞĞƐƟŵĂƚĞƐĂŶĚĂƐƐƵŵƉƟŽŶƐƚŚĂƚŚĂǀĞĂƐŝŐŶŝĮĐĂŶƚƌŝƐŬŽĨĐĂƵƐŝŶŐĂŵĂƚĞƌŝĂůĂĚũƵƐƚŵĞŶƚƚŽƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐŽĨĂƐƐĞƚƐĂŶĚ
ůŝĂďŝůŝƟĞƐǁŝƚŚŝŶƚŚĞŶĞdžƚĮŶĂŶĐŝĂůLJĞĂƌĂƌĞŽƵƚůŝŶĞĚďĞůŽǁ͘

Ă͘ /ŵƉĂŝƌŵĞŶƚŽĨŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐ

 dŚĞ'ƌŽƵƉĂƐƐĞƐƐĞƐǁŚĞƚŚĞƌƚŚĞƌĞŝƐĂŶLJŝŶĚŝĐĂƟŽŶƚŚĂƚŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐĂƌĞŝŵƉĂŝƌĞĚĂƚƚŚĞĞŶĚŽĨĞĂĐŚƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘
/ŵƉĂŝƌŵĞŶƚŝƐŵĞĂƐƵƌĞĚďLJĐŽŵƉĂƌŝŶŐƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨĂŶĂƐƐĞƚǁŝƚŚŝƚƐƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚ͘dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚ
ŝƐŵĞĂƐƵƌĞĚĂƚƚŚĞŚŝŐŚĞƌŽĨƚŚĞĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƚŽƐĞůůĨŽƌƚŚĂƚĂƐƐĞƚĂŶĚŝƚƐǀĂůƵĞͲŝŶͲƵƐĞ͘dŚĞǀĂůƵĞͲŝŶͲƵƐĞŝƐƚŚĞŶĞƚƉƌĞƐĞŶƚ
ǀĂůƵĞŽĨƚŚĞƉƌŽũĞĐƚĞĚĨƵƚƵƌĞĐĂƐŚŇŽǁĚĞƌŝǀĞĚĨƌŽŵƚŚĂƚĂƐƐĞƚĚŝƐĐŽƵŶƚĞĚĂƚĂŶĂƉƉƌŽƉƌŝĂƚĞĚŝƐĐŽƵŶƚƌĂƚĞ͘WƌŽũĞĐƚĞĚĨƵƚƵƌĞ
ĐĂƐŚŇŽǁƐĂƌĞĐĂůĐƵůĂƚĞĚďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůƐĞĐƚŽƌĂŶĚŝŶĚƵƐƚƌLJƚƌĞŶĚƐ͕ŐĞŶĞƌĂůŵĂƌŬĞƚĂŶĚĞĐŽŶŽŵŝĐĐŽŶĚŝƟŽŶƐ͕ĐŚĂŶŐĞƐŝŶ
ƚĞĐŚŶŽůŽŐLJĂŶĚŽƚŚĞƌĂǀĂŝůĂďůĞŝŶĨŽƌŵĂƟŽŶ͘ŚĂŶŐĞƐƚŽĂŶLJŽĨƚŚĞƐĞĂƐƐƵŵƉƟŽŶƐǁŽƵůĚĂīĞĐƚƚŚĞĂŵŽƵŶƚŽĨŝŵƉĂŝƌŵĞŶƚ͘
dŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐƵƐĞĚƚŽĚĞƚĞƌŵŝŶĞƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂƌĞƐĞƚŽƵƚŝŶEŽƚĞϮϳƚŽƚŚĞĮŶĂŶĐŝĂů
ƐƚĂƚĞŵĞŶƚƐ͘

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ŝŵƉĂŝƌŵĞŶƚƐŽĨŶŽŶͲĮŶĂŶĐŝĂůĂƐƐĞƚƐŽĨĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐƚŽƚĂůůŝŶŐZDϴϵŵŝůůŝŽŶǁĂƐĐŚĂƌŐĞĚĂŶĚ
ZDϮŵŝůůŝŽŶǁĂƐƌĞǀĞƌƐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͕ǁŚŝĐŚĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϭϭ͘dŚŝƐŝŶĐůƵĚĞƐƚŚĞŝŵƉĂŝƌŵĞŶƚŽĨĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐŝŶ
ƌĞůĂƟŽŶƚŽƚŚĞDŽƚŽƌƐŽƉĞƌĂƟŽŶƐŝŶsŝĞƚŶĂŵŽĨZDϲϭŵŝůůŝŽŶ͘

ANNUAL REPORT 2018 page 163

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰ Z/d/>KhEd/E'^d/Dd^E:h'DEd/EWW>z/E'KhEd/E'WK>//^ΈKEd/EhΉ

ď͘ dĂdžĂƟŽŶ

 dŚĞ'ƌŽƵƉŚĂƐƌĞĐŽŐŶŝƐĞĚĐĞƌƚĂŝŶƚĂdžƌĞĐŽǀĞƌĂďůĞĨŽƌǁŚŝĐŚƚŚĞ'ƌŽƵƉďĞůŝĞǀĞƐƚŚĂƚƚŚĞƌĞŝƐĂƌĞĂƐŽŶĂďůĞďĂƐŝƐĨŽƌƌĞĐŽŐŶŝƟŽŶ͘
tŚĞƌĞƚŚĞĮŶĂůƚĂdžŽƵƚĐŽŵĞŽĨƚŚŝƐŵĂƩĞƌŝƐĚŝīĞƌĞŶƚĨƌŽŵƚŚĞĂŵŽƵŶƚƚŚĂƚǁĂƐŝŶŝƟĂůůLJƌĞĐŽƌĚĞĚ͕ƐƵĐŚĚŝīĞƌĞŶĐĞŵĂLJĐĂƵƐĞĂ
ŵĂƚĞƌŝĂůĂĚũƵƐƚŵĞŶƚƚŽƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞƚĂdžƌĞĐŽǀĞƌĂďůĞďĂůĂŶĐĞƌĞĐŽƌĚĞĚŝŶƚŚĞƉĞƌŝŽĚŝŶǁŚŝĐŚƐƵĐŚĚĞƚĞƌŵŝŶĂƟŽŶ
ŝƐŵĂĚĞ͘ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞƚĂdžƌĞĐŽǀĞƌĂďůĞŽĨƚŚĞ'ƌŽƵƉŝŶƌĞůĂƟŽŶƚŽǁŝƚŚŚŽůĚŝŶŐƚĂdžĞƐƌĞĐŽǀĞƌĂďůĞĨƌŽŵƚŚĞ/ŶĚŝĂŶƚĂdž
ĂƵƚŚŽƌŝƟĞƐǁĂƐZDϲϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭϱϮŵŝůůŝŽŶͿ͘ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨZDϳϭŵŝůůŝŽŶ
ĨŽƌƚŚŝƐƚĂdžƌĞĐŽǀĞƌĂďůĞĚƵĞƚŽƚŚĞƵŶĐĞƌƚĂŝŶƚLJŽĨƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJĂƐǁĞůůĂƐƚŚĞƟŵŝŶŐŽĨƚŚĞƌĞĨƵŶĚƐ͘dŚĞƌĞĂůŝƐĂƟŽŶŽĨƚŚŝƐ
ƚĂdžƌĞĐŽǀĞƌĂďůĞŝƐĚĞƉĞŶĚĞŶƚŽŶƚŚĞĚĞĐŝƐŝŽŶŽĨƚŚĞ/ŶĚŝĂŶƚĂdžĂƵƚŚŽƌŝƟĞƐǁŚŝĐŚŵĂLJƚĂŬĞƐŝŐŶŝĮĐĂŶƚƟŵĞďĞĨŽƌĞƚŚĞ'ƌŽƵƉ
ƌĞĐĞŝǀĞƐƚŚĞƚĂdžƌĞĨƵŶĚƐ͘

 ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐĂƌĞƌĞĐŽŐŶŝƐĞĚƚŽƚŚĞĞdžƚĞŶƚƚŚĂƚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚĨƵƚƵƌĞƚĂdžĂďůĞƉƌŽĮƚǁŝůůďĞĂǀĂŝůĂďůĞĂŐĂŝŶƐƚǁŚŝĐŚ
ƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐŽƌƵŶƵƟůŝƐĞĚƚĂdžůŽƐƐĞƐĂŶĚƚĂdžĐƌĞĚŝƚƐĐĂŶďĞƵƟůŝƐĞĚ͘dŚŝƐŝŶǀŽůǀĞƐũƵĚŐĞŵĞŶƚƌĞŐĂƌĚŝŶŐĨƵƚƵƌĞƚĂdžĂďůĞ
ƉƌŽĮƚƐŽĨĂƉĂƌƟĐƵůĂƌĞŶƟƚLJŝŶǁŚŝĐŚƚŚĞĚĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚŚĂƐďĞĞŶƌĞĐŽŐŶŝƐĞĚ͘

 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞĚĚĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐŽĨZDϭϲϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϯϯŵŝůůŝŽŶͿĂƌŝƐŝŶŐĨƌŽŵƵŶĂďƐŽƌďĞĚ
ƚĂdžůŽƐƐĞƐĨƌŽŵĐĞƌƚĂŝŶƐƵďƐŝĚŝĂƌŝĞƐǁŝƚŚŝŶ/ŶĚƵƐƚƌŝĂůĚŝǀŝƐŝŽŶŝŶƵƐƚƌĂůŝĂĨŽƌǁŚŝĐŚƚŚĞƌĞĂƌĞŶŽĞdžƉŝƌLJĚĂƚĞƐ͘dŚĞ'ƌŽƵƉŚĂƐ
ĂƐƐĞƐƐĞĚƚŚĂƚƚŚĞƐĞĞŶƟƟĞƐŚĂǀĞƉƌŽďĂďůĞĨƵƚƵƌĞƚĂdžĂďůĞƉƌŽĮƚƐĨŽƌƚŚĞƵƟůŝƐĂƟŽŶŽĨƚŚĞƐĞĚĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐďĂƐĞĚŽŶ
ƚĂdžĂďůĞƉƌŽĮƚƉƌŽũĞĐƟŽŶŽĨƚŚĞĞŶƟƟĞƐ͘

Đ͘ /ŵƉĂŝƌŵĞŶƚŽĨŝŶǀĞƐƚŵĞŶƚŝŶĂƐƐŽĐŝĂƚĞƐ

 dŚĞ'ƌŽƵƉĂƐƐĞƐƐĞƐƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨŝƚƐŝŶǀĞƐƚŵĞŶƚŝŶĂƐƐŽĐŝĂƚĞƐĨŽƌŝŶĚŝĐĂƟŽŶŽĨŝŵƉĂŝƌŵĞŶƚĂƚƚŚĞĞŶĚŽĨĞĂĐŚƌĞƉŽƌƟŶŐ
ƉĞƌŝŽĚ͘ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉŚĂƐĐŽŵƉƵƚĞĚƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨŝƚƐŝŶǀĞƐƚŵĞŶƚŝŶĂƐƚĞƌŶΘKƌŝĞŶƚĂů
ĞƌŚĂĚĂŶĚŚĂƐƌĞĐŽƌĚĞĚĂŶŝŵƉĂŝƌŵĞŶƚĐŚĂƌŐĞŽĨZDϭϬϯŵŝůůŝŽŶ͘dŚĞĂƐƐĞƐƐŵĞŶƚŽĨƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŝƐƐĞƚŽƵƚŝŶ
EŽƚĞϭϯƚŽƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

page 164 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

5 FINANCIAL RISK AND CAPITAL MANAGEMENT POLICIES

Ă͘ &ŝŶĂŶĐŝĂůZŝƐŬDĂŶĂŐĞŵĞŶƚ

 dŚĞ'ƌŽƵƉ͛ƐŽƉĞƌĂƟŽŶƐĞdžƉŽƐĞŝƚƚŽĂǀĂƌŝĞƚLJŽĨĮŶĂŶĐŝĂůƌŝƐŬƐ͕ŝŶĐůƵĚŝŶŐĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ͕ŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬ͕ĐƌĞĚŝƚƌŝƐŬĂŶĚ
ůŝƋƵŝĚŝƚLJĂŶĚĐĂƐŚŇŽǁƌŝƐŬ͘dŚĞ'ƌŽƵƉ͛ƐŽǀĞƌĂůůĮŶĂŶĐŝĂůƌŝƐŬŵĂŶĂŐĞŵĞŶƚƉŽůŝĐŝĞƐƐĞĞŬƚŽŵĂŶĂŐĞĂŶĚŵŝŶŝŵŝƐĞƚŚĞƉŽƚĞŶƟĂů
ĂĚǀĞƌƐĞĞīĞĐƚƐŽĨƚŚĞƐĞƌŝƐŬƐŽŶƚŚĞĮŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞ'ƌŽƵƉ͘

 dŚĞ'ƌŽƵƉ͛ƐĞdžƉŽƐƵƌĞƚŽƚŚĞƐĞĮŶĂŶĐŝĂůƌŝƐŬƐĂƌĞŵĂŶĂŐĞĚƚŚƌŽƵŐŚƌŝƐŬƌĞǀŝĞǁƐ͕ŝŶƚĞƌŶĂůĐŽŶƚƌŽůƐLJƐƚĞŵƐ͕ŝŶƐƵƌĂŶĐĞͬƚĂŬĂĨƵů
ƉƌŽŐƌĂŵƐĂŶĚĂĚŚĞƌĞŶĐĞƚŽ'ƌŽƵƉWŽůŝĐŝĞƐĂŶĚƵƚŚŽƌŝƟĞƐǁŚŝĐŚĂƌĞŝŵƉůĞŵĞŶƚĞĚŽŶĂŐƌŽƵƉͲǁŝĚĞďĂƐŝƐ͘dŚĞŽĂƌĚƌĞŐƵůĂƌůLJ
ƌĞǀŝĞǁƐƚŚĞƐĞƌŝƐŬƐĂŶĚĂƉƉƌŽǀĞƐƚŚĞƉŽůŝĐŝĞƐĐŽǀĞƌŝŶŐƚŚĞŵĂŶĂŐĞŵĞŶƚŽĨƚŚĞƐĞƌŝƐŬƐ͘

 dŚĞ'ƌŽƵƉƵƐĞƐĚĞƌŝǀĂƟǀĞĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐƐƵĐŚĂƐŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉƐ͕ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉƐĂŶĚĨŽƌǁĂƌĚĨŽƌĞŝŐŶ
ĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐƚŽŚĞĚŐĞƚŚĞ'ƌŽƵƉ͛ƐĞdžƉŽƐƵƌĞƚŽĮŶĂŶĐŝĂůƌŝƐŬ͘

 tŚŝůƐƚĂůůĚĞƌŝǀĂƟǀĞƐĞŶƚĞƌĞĚŝŶƚŽƉƌŽǀŝĚĞĞĐŽŶŽŵŝĐŚĞĚŐĞƐƚŽƚŚĞ'ƌŽƵƉ͕ĐĞƌƚĂŝŶĚĞƌŝǀĂƟǀĞƐĚŽŶŽƚƋƵĂůŝĨLJĨŽƌƚŚĞĂƉƉůŝĐĂƟŽŶ
ŽĨŚĞĚŐĞĂĐĐŽƵŶƟŶŐƵŶĚĞƌƚŚĞƐƉĞĐŝĮĐƌƵůĞƐŝŶD&Z^ϭϯϵ͘tŚĞƌĞƚŚĞƌĞĂƌĞŽƉĞŶƉŽƐŝƟŽŶƐ͕ƚŚĞƐĞĂƌĞŵĂŶĂŐĞĚŝŶĂĐĐŽƌĚĂŶĐĞ
ǁŝƚŚ'ƌŽƵƉƉŽůŝĐŝĞƐ͘dŚĞŶŽƟŽŶĂůĂŵŽƵŶƚƐĂŶĚĨĂŝƌǀĂůƵĞƐŽĨĚĞƌŝǀĂƟǀĞĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂƐĂƚϯϬ:ƵŶĞĂƌĞĚŝƐĐůŽƐĞĚŝŶ
EŽƚĞϯϬ͘

ŝ͘ &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ
 dŚĞ'ƌŽƵƉ͛ƐĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬƌĞĨĞƌƐƚŽĂĚǀĞƌƐĞĞdžĐŚĂŶŐĞƌĂƚĞŵŽǀĞŵĞŶƚƐŽŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJƉŽƐŝƟŽŶƐŽƌŝŐŝŶĂƟŶŐ
ĨƌŽŵĮŶĂŶĐŝĂůĂƐƐĞƚƐŽƌůŝĂďŝůŝƟĞƐĚĞŶŽŵŝŶĂƚĞĚŝŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐŝĞƐŶŽƚŝŶƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJŽĨƚŚĞƌĞƐƉĞĐƟǀĞ
ƐƵďƐŝĚŝĂƌŝĞƐĂŶĚĨƌŽŵŶĞƚĂƐƐĞƚƐŝŶŽǀĞƌƐĞĂƐƐƵďƐŝĚŝĂƌŝĞƐǁŚĞƌĞƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐĂƌĞŶŽƚŝŶZŝŶŐŐŝƚDĂůĂLJƐŝĂ͘

 dŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐŝŶƚĞƌŶĂƟŽŶĂůůLJĂŶĚŝƐĞdžƉŽƐĞĚƚŽĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬĂƌŝƐŝŶŐĨƌŽŵǀĂƌŝŽƵƐĐƵƌƌĞŶĐLJĞdžƉŽƐƵƌĞƐ͕
ƉƌŝŵĂƌŝůLJǁŝƚŚƌĞƐƉĞĐƚƚŽhŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ͕ŚŝŶĞƐĞƌĞŶŵŝŶďŝ͕ƵƌŽƉĞĂŶhŶŝŽŶĞƵƌŽĂŶĚƵƐƚƌĂůŝĂŶĚŽůůĂƌ͘&ŽƌĞŝŐŶ
ĞdžĐŚĂŶŐĞƌŝƐŬĂƌŝƐĞƐĨƌŽŵĨƵƚƵƌĞĐŽŵŵĞƌĐŝĂůƚƌĂŶƐĂĐƟŽŶƐ͕ƌĞĐŽŐŶŝƐĞĚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐ͕ĂŶĚŝŶǀĞƐƚŵĞŶƚƐŝŶĨŽƌĞŝŐŶ
ŽƉĞƌĂƟŽŶƐ͘

 dŚĞ'ƌŽƵƉĂƉƉůŝĞƐŶĂƚƵƌĂůŚĞĚŐŝŶŐ͕ƚŽƚŚĞĞdžƚĞŶƚƉŽƐƐŝďůĞ͕ďLJŵĂƚĐŚŝŶŐĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĂƐƐĞƚƐŽƌŝŶĐŽŵĞĂŐĂŝŶƐƚĨŽƌĞŝŐŶ
ĐƵƌƌĞŶĐLJůŝĂďŝůŝƟĞƐŽƌĐŽƐƚƐ͘EĞƚĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĞdžƉŽƐƵƌĞƐĂŶĚĨŽƌĞĐĂƐƚĞĚĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĐĂƐŚŇŽǁƐĂƌĞŚĞĚŐĞĚǀŝĂ
ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐĂŶĚĐƵƌƌĞŶĐLJƐǁĂƉƐ͘

 ĞƚĂŝůƐŽĨƚŚĞ'ƌŽƵƉ͛ƐĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĞdžƉŽƐƵƌĞĂŶĚƚŚĞĐƵƌƌĞŶĐLJƉƌŽĮůĞŽĨŵŽŶĞƚĂƌLJĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚĮŶĂŶĐŝĂů
ůŝĂďŝůŝƟĞƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϭ;ĂͿ͘

ANNUAL REPORT 2018 page 165

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱ &/EE/>Z/^<EW/d>DE'DEdWK>//^ΈKEd/EhΉ

Ă͘ &ŝŶĂŶĐŝĂůZŝƐŬDĂŶĂŐĞŵĞŶƚ;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ Interest rate risk

 dŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬĂƌŝƐĞƐĨƌŽŵŝƚƐďŽƌƌŽǁŝŶŐƐĂŶĚĚĞƉŽƐŝƚƐƉůĂĐĞĚǁŝƚŚĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ͘ĞƉŽƐŝƚƐǁŝƚŚ
ĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐĂƌĞŵĂŝŶůLJĨƵŶĚƐŚĞůĚĨŽƌůŝƋƵŝĚŝƚLJƉƵƌƉŽƐĞƐĂŶĚƚĞŵƉŽƌĂƌLJƐƵƌƉůƵƐĞƐ͕ŚĞŶĐĞĂƌĞƵƐƵĂůůLJƉůĂĐĞĚ
ŝŶƐŚŽƌƚƚĞƌŵŝŶƚĞƌĞƐƚďĞĂƌŝŶŐŝŶƐƚƌƵŵĞŶƚƐ͘ŚĂŶŐĞƐŝŶŵĂƌŬĞƚŝŶƚĞƌĞƐƚƌĂƚĞƐǁŝůůďĞƌĞͲƉƌŝĐĞĚŝŵŵĞĚŝĂƚĞůLJŝŶƚŽƚŚĞƐĞ
ŇŽĂƟŶŐƌĂƚĞŝŶƐƚƌƵŵĞŶƚƐ͘dŚĞ'ƌŽƵƉŵĂŶĂŐĞƐŝƚƐŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬŽŶŝƚƐůŽŶŐͲƚĞƌŵďŽƌƌŽǁŝŶŐƐďLJƚĂƌŐĞƟŶŐĂŵŝdžŽĨĮdžĞĚ
ĂŶĚŇŽĂƟŶŐƌĂƚĞĚĞďƚďLJƵƐŝŶŐĚĞƌŝǀĂƟǀĞƐƐƵĐŚĂƐŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉƐ͘

 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞ'ƌŽƵƉ͛ƐĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ͛ƉĞƌĐĞŶƚĂŐĞŽĨĮdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐ͕ďŽƚŚďĞĨŽƌĞĂŶĚĂŌĞƌƚĂŬŝŶŐ
ŝŶƚŽĂĐĐŽƵŶƚƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ͕ƚŽƚŚĞƚŽƚĂůďŽƌƌŽǁŝŶŐƐĂƌĞϭ͘ϯй;ϮϬϭϳ͗Ϯϯ͘ϰйͿĂŶĚϳ͘ϯй;ϮϬϭϳ͗ϰϬ͘ϱйͿ
ƌĞƐƉĞĐƟǀĞůLJ͘ĞƚĂŝůƐŽĨƚŚĞƉĞƌĐĞŶƚĂŐĞƐŽĨĮdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐŽǀĞƌƚŽƚĂůďŽƌƌŽǁŝŶŐƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϭ;ďͿ͘

ŝŝŝ͘ ƌĞĚŝƚƌŝƐŬ
 ƌĞĚŝƚƌŝƐŬŝƐƚŚĞƌŝƐŬŽĨĂĮŶĂŶĐŝĂůůŽƐƐƚŽƚŚĞ'ƌŽƵƉĚƵĞƚŽĐŽƵŶƚĞƌƉĂƌƟĞƐĚĞĨĂƵůƟŶŐŽŶƚŚĞŝƌĐŽŵŵŝƚŵĞŶƚƐ͘

 ƌĞĚŝƚƌŝƐŬĂƌŝƐĞƐŽŶƐĂůĞƐŵĂĚĞŽŶĐƌĞĚŝƚƚĞƌŵƐ͕ĚĞƌŝǀĂƟǀĞƐǁŝƚŚƉŽƐŝƟǀĞĨĂŝƌǀĂůƵĞ͕ĚĞƉŽƐŝƚƐǁŝƚŚďĂŶŬƐ͕ŐƵĂƌĂŶƚĞĞƐĂŶĚ
ƉĞƌĨŽƌŵĂŶĐĞŐƵĂƌĂŶƚĞĞƐŐŝǀĞŶŽŶďĞŚĂůĨŽĨŽƚŚĞƌƐĂŶĚƌŝƐŬƐŚĂƌŝŶŐĂƌƌĂŶŐĞŵĞŶƚƐ͘

 dŚĞ'ƌŽƵƉƐĞĞŬƐƚŽĐŽŶƚƌŽůĐƌĞĚŝƚƌŝƐŬďLJĚĞĂůŝŶŐǁŝƚŚĐŽƵŶƚĞƌƉĂƌƟĞƐǁŝƚŚĂƉƉƌŽƉƌŝĂƚĞĐƌĞĚŝƚŚŝƐƚŽƌŝĞƐĂŶĚĚĞƉŽƐŝƚǁŝƚŚ
ďĂŶŬƐĂŶĚĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐǁŝƚŚŐŽŽĚĐƌĞĚŝƚƌĂƟŶŐƐ͘ƌĞĚŝƚƌŝƐŬŝƐĂůƐŽŵĂŶĂŐĞĚƚŚƌŽƵŐŚĐƌĞĚŝƚĂƐƐĞƐƐŵĞŶƚĂŶĚ
ĂƉƉƌŽǀĂů͕ĐƌĞĚŝƚůŝŵŝƚĂŶĚŵŽŶŝƚŽƌŝŶŐƉƌŽĐĞĚƵƌĞƐ͘tŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͕ŐƵĂƌĂŶƚĞĞƐŽƌƐĞĐƵƌŝƟĞƐĂƌĞŽďƚĂŝŶĞĚƚŽůŝŵŝƚ
ĐƌĞĚŝƚƌŝƐŬ͘

 dŚĞƌŝƐŬƐŚĂƌŝŶŐĂƌƌĂŶŐĞŵĞŶƚŝƐǁŝƚŚĂƚŚŝƌĚƉĂƌƚLJůĞĂƐŝŶŐĐŽŵƉĂŶLJǁŚŝĐŚŝƐĂŵĞŵďĞƌŽĨŽƵƌƉƌŝŶĐŝƉĂůǀĞŶĚŽƌ͕ŝŶ
ĐŽŶŶĞĐƟŽŶǁŝƚŚƚŚĞƐĂůĞŽĨŝƚƐĞƋƵŝƉŵĞŶƚ͘ĞƚĂŝůƐŽĨƚŚĞĂƌƌĂŶŐĞŵĞŶƚĂŶĚƚŚĞƚŽƚĂůŽƵƚƐƚĂŶĚŝŶŐƌŝƐŬƐŚĂƌŝŶŐĂŵŽƵŶƚ
ĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞƐϰϯĂŶĚϱϮ;ĂͿ͘ŶĂŵŽƵŶƚŽĨZDϭϱŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭϴŵŝůůŝŽŶͿŚĂƐďĞĞŶƉƌŽǀŝĚĞĚĨŽƌďĂƐĞĚŽŶĂ
ƉĞƌĐĞŶƚĂŐĞŽĨƌŝƐŬƐŚĂƌŝŶŐƌĂƟŽŽǀĞƌƚŚĞƚŽƚĂůŽƵƚƐƚĂŶĚŝŶŐůĞĂƐĞƉŽƌƞŽůŝŽ͘

 ĞƚĂŝůƐŽĨƚŚĞĐƌĞĚŝƚƌŝƐŬŽĨƚŚĞ'ƌŽƵƉ͛ƐƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐĂƌĞĚŝƐĐůŽƐĞĚŝŶEŽƚĞϱϭ;ĐͿ͘

page 166 SIME DARBY BERHAD

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Amounts in RM million unless otherwise stated

ϱ &/EE/>Z/^<EW/d>DE'DEdWK>//^ΈKEd/EhΉ

Ă͘ &ŝŶĂŶĐŝĂůZŝƐŬDĂŶĂŐĞŵĞŶƚ;ĐŽŶƟŶƵĞĚͿ

ŝǀ͘ >ŝƋƵŝĚŝƚLJĂŶĚĐĂƐŚŇŽǁƌŝƐŬ
 >ŝƋƵŝĚŝƚLJƌŝƐŬƌĞĨĞƌƐƚŽƚŚĞƌŝƐŬƚŚĂƚƚŚĞ'ƌŽƵƉŽƌƚŚĞŽŵƉĂŶLJǁŝůůĞŶĐŽƵŶƚĞƌĚŝĸĐƵůƚLJŝŶŵĞĞƟŶŐĮŶĂŶĐŝĂůŽďůŝŐĂƟŽŶƐ
ǁŚĞŶŝƚĨĂůůƐĚƵĞ͘

 dŚĞ'ƌŽƵƉŵĂŝŶƚĂŝŶƐĂƉƌƵĚĞŶƚďŽƌƌŽǁŝŶŐƉŽůŝĐLJǁŚŝĐŚŝƐĂŝŵĞĚƚŽǁĂƌĚƐŵĂŝŶƚĂŝŶŝŶŐƐƵĸĐŝĞŶƚĐĂƐŚĨŽƌĂůůĐĂƐŚŇŽǁ
ƌĞƋƵŝƌĞŵĞŶƚƐ͕ŵĂŶĂŐŝŶŐĚĞďƚĂŶĚŝŶǀĞƐƚŵĞŶƚƉŽƌƞŽůŝŽǁŝƚŚŝŶƚŚĞƌĞůĞǀĂŶƚƟŵĞďƵĐŬĞƚƐƚŽŵĂƚƵƌŝƚLJ͕ŽďƚĂŝŶŝŶŐĂĚŝǀĞƌƐĞ
ƌĂŶŐĞŽĨĨƵŶĚŝŶŐƐŽƵƌĐĞƐ͕ĂŶĚŬĞĞƉŝŶŐĂŶĂĚĞƋƵĂƚĞĂŵŽƵŶƚŽĨĐƌĞĚŝƚĨĂĐŝůŝƟĞƐƚŽƉƌŽǀŝĚĞĂŵƉůĞůŝƋƵŝĚŝƚLJĐƵƐŚŝŽŶ͘

 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞ'ƌŽƵƉ͛ƐĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐŚĂƐƚŽƚĂůĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐŽĨZDϭ͕ϲϮϵŵŝůůŝŽŶ;ϮϬϭϳ͗
ZDϭ͕ϵϵϰŵŝůůŝŽŶͿǁŚŝĐŚŝŶĐůƵĚĞĐĂƐŚŝŶŚĂŶĚĂŶĚĚĞƉŽƐŝƚƐŚĞůĚĂƚĐĂůůǁŝƚŚďĂŶŬƐ͕ŶĞƚŽĨďĂŶŬŽǀĞƌĚƌĂŌƐ͘ƐĂƚ
ϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞŽŵƉĂŶLJŚĂƐƚŽƚĂůĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐŽĨZDϭϲϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϬϬŵŝůůŝŽŶͿ͘

 dŚĞ'ƌŽƵƉďĞůŝĞǀĞƐƚŚĂƚŝƚƐĐŽŶƚƌĂĐƚƵĂůŽďůŝŐĂƟŽŶƐ͕ŝŶĐůƵĚŝŶŐƚŚŽƐĞĚŝƐĐůŽƐĞĚŝŶĐŽŵŵŝƚŵĞŶƚƐĂŶĚĐŽŶƟŶŐĞŶĐŝĞƐŝŶ
EŽƚĞƐϱϭ;ĚͿĂŶĚϱϮƌĞƐƉĞĐƟǀĞůLJ͕ĐĂŶďĞŵĞƚĨƌŽŵĞdžŝƐƟŶŐĐĂƐŚĂŶĚŝŶǀĞƐƚŵĞŶƚƐ͕ŽƉĞƌĂƟŶŐĐĂƐŚŇŽǁƐ͕ĐƌĞĚŝƚůŝŶĞƐ
ĂǀĂŝůĂďůĞĂŶĚŽƚŚĞƌĮŶĂŶĐŝŶŐƚŚĂƚƚŚĞ'ƌŽƵƉƌĞĂƐŽŶĂďůLJĞdžƉĞĐƚƚŽďĞĂďůĞƚŽƐĞĐƵƌĞƐŚŽƵůĚƚŚĞŶĞĞĚĂƌŝƐĞƐ͘

ď͘ ĂƉŝƚĂůDĂŶĂŐĞŵĞŶƚ

 dŚĞ'ƌŽƵƉ͛ƐĐĂƉŝƚĂůŵĂŶĂŐĞŵĞŶƚŽďũĞĐƟǀĞƐĂƌĞƚŽĞŶƐƵƌĞƚŚĞ'ƌŽƵƉ͛ƐĂďŝůŝƚLJƚŽĐŽŶƟŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶĂŶĚŵĂdžŝŵŝƐĞ
ƐŚĂƌĞŚŽůĚĞƌƐ͛ǀĂůƵĞ͘dŚĞ'ƌŽƵƉŝƐĐŽŵŵŝƩĞĚƚŽǁĂƌĚƐŽƉƟŵŝƐŝŶŐŝƚƐĐĂƉŝƚĂůƐƚƌƵĐƚƵƌĞĂŶĚĞŶƐƵƌŝŶŐĐŽŵƉĞƟƟǀĞĐŽƐƚŽĨĐĂƉŝƚĂů͘
/ŵƉůĞŵĞŶƚĂƟŽŶŽĨĂŶŽƉƟŵĂůĐĂƉŝƚĂůƐƚƌƵĐƚƵƌĞŝŶĐůƵĚĞƐďĂůĂŶĐŝŶŐďĞƚǁĞĞŶĚĞďƚĂŶĚĞƋƵŝƚLJďLJƉƵƫŶŐŝŶƉůĂĐĞĂƉƉƌŽƉƌŝĂƚĞ
ĚŝǀŝĚĞŶĚĂŶĚĮŶĂŶĐŝŶŐƉŽůŝĐŝĞƐǁŚŝĐŚŝŶŇƵĞŶĐĞƚŚĞůĞǀĞůŽĨĚĞďƚĂŶĚĞƋƵŝƚLJ͘

ŝ͘ 'ĞĂƌŝŶŐƌĂƟŽƐ
 dŚĞŐĞĂƌŝŶŐƌĂƟŽŝƐƵƐĞĚĂƐĂŵĞĂƐƵƌĞƚŽĂƐƐĞƐƐƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨƚŚĞ'ƌŽƵƉ͛ƐĚĞďƚůĞǀĞů͘dŚĞĂƉƉƌŽƉƌŝĂƚĞĚĞďƚůĞǀĞů
ŝƐƐƵďũĞĐƚƚŽƚŚĞĐŽŵƉŽƐŝƟŽŶŽĨƚŚĞ'ƌŽƵƉ͛ƐďƵƐŝŶĞƐƐ͕ďƵƐŝŶĞƐƐĐLJĐůĞĂŶĚĞĐŽŶŽŵŝĐĐŽŶĚŝƟŽŶƐ͘dŚĞƌĂƟŽŝƐĐĂůĐƵůĂƚĞĚĂƐ
dŽƚĂůĞďƚĚŝǀŝĚĞĚďLJdŽƚĂůƋƵŝƚLJ͘dŚĞ'ƌŽƵƉ͛ƐŐĞĂƌŝŶŐƌĂƟŽŝƐĂƐĨŽůůŽǁƐ͗

2018 2017
ŽƌƌŽǁŝŶŐƐ 2,889 ϯ͕ϮϬϱ
ŽƌƌŽǁŝŶŐƐŝŶĐůƵĚĞĚŝŶůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ΀EŽƚĞϯϲ΁ – ϵ͕ϵϭϯ
dŽƚĂůĞďƚ 2,889 ϭϯ͕ϭϭϴ
dŽƚĂůƋƵŝƚLJ 14,759 ϰϬ͕ϱϰϵ
ĞďƚͬƋƵŝƚLJƌĂƟŽ 0.20 Ϭ͘ϯϮ

 dŚĞĚĞďƚͬĞƋƵŝƚLJƌĂƟŽŽĨƚŚĞ'ƌŽƵƉŚĂƐĚĞĐƌĞĂƐĞĚĨƌŽŵϬ͘ϯϮĂƐĂƚϯϬ:ƵŶĞϮϬϭϳƚŽϬ͘ϮϬĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ŵĂŝŶůLJĚƵĞ
ƚŽƚŚĞƌĞĚƵĐƟŽŶŝŶĚĞďƚƵƉŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJ͘dŚĞƌĂƟŽŽĨϬ͘ϮϬŝƐĐŽŶƐŝĚĞƌĞĚƚŽďĞ
ƌĞůĂƟǀĞůLJůŽǁĂŶĚĂůůŽǁƐƚŚĞ'ƌŽƵƉƚŚĞŇĞdžŝďŝůŝƚLJŽĨƌĂŝƐŝŶŐďŽƌƌŽǁŝŶŐƐƚŽĨƵŶĚƚŚĞ'ƌŽƵƉ͛ƐĞdžƉĂŶƐŝŽŶ͘

ŝŝ͘ džƚĞƌŶĂůůLJŝŵƉŽƐĞĚĐĂƉŝƚĂůƌĞƋƵŝƌĞŵĞŶƚƐ
 dŚĞ'ƌŽƵƉŵĂŝŶƚĂŝŶƐĂĚĞďƚƚŽĞƋƵŝƚLJƌĂƟŽƚŚĂƚĐŽŵƉůŝĞƐǁŝƚŚƚŚĞĂƉƉůŝĐĂďůĞĚĞďƚĐŽǀĞŶĂŶƚƐĂƐĂƚƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͘

ANNUAL REPORT 2018 page 167

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

6 REVENUE

 ZĞǀĞŶƵĞĐŽŵƉƌŝƐĞƚŚĞĨŽůůŽǁŝŶŐ͗

Group Company
2018 2017 2018 2017
ZĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐ 33,131 ϯϬ͕ϲϱϳ – –
ZĞǀĞŶƵĞĨƌŽŵŽƚŚĞƌƐŽƵƌĐĞƐ
Ͳ ƌĞŶƚĂůŝŶĐŽŵĞ 697 ϰϯϬ – –
Ͳ ĚŝǀŝĚĞŶĚŝŶĐŽŵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ – – 1,764 ϭ͕ϰϬϬ
33,828 ϯϭ͕Ϭϴϳ 1,764 ϭ͕ϰϬϬ

 ƌĞĂŬĚŽǁŶŽĨƚŚĞ'ƌŽƵƉ͛ƐƌĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐ͗

2018 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ KƚŚĞƌƐ Total

DĂũŽƌŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ
^ĂůĞŽĨĞƋƵŝƉŵĞŶƚĂŶĚǀĞŚŝĐůĞƐ 6,337 16,963 – – 23,300
^ĂůĞŽĨƉĂƌƚƐ͕ĂƐƐĞŵďůLJĐŚĂƌŐĞƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨ
ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ 5,928 2,846 – – 8,774
ŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ 315 – – – 315
WŽƌƚĂŶĚƌĞůĂƚĞĚĐŚĂƌŐĞƐ – – 275 – 275
^ĂůĞŽĨǁĂƚĞƌ – – 66 – 66
ŽŵŵŝƐƐŝŽŶ͕ŚĂŶĚůŝŶŐĨĞĞƐĂŶĚŽƚŚĞƌƐ – 308 – 93 401
12,580 20,117 341 93 33,131

'ĞŽŐƌĂƉŚŝĐĂůŵĂƌŬĞƚ
DĂůĂLJƐŝĂ 1,130 3,460 – 83 4,673
KƚŚĞƌĐŽƵŶƚƌŝĞƐŝŶ^ŽƵƚŚĂƐƚƐŝĂ 734 5,150 – 8 5,892
ŚŝŶĂ ϭ
3,815 8,672 341 2 12,830
Australasia Ϯ
6,901 2,835 – – 9,736
12,580 20,117 341 93 33,131

dŝŵŝŶŐŽĨƌĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ
Ͳ ĂƚĂƉŽŝŶƚŝŶƟŵĞ 10,229 17,375 – 22 27,626
Ͳ ŽǀĞƌƟŵĞ 2,351 2,742 341 71 5,505
12,580 20,117 341 93 33,131

page 168 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϲ ZsEhΈKEd/EhΉ

 ƌĞĂŬĚŽǁŶŽĨƚŚĞ'ƌŽƵƉ͛ƐƌĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐ͗;ĐŽŶƟŶƵĞĚͿ

2017 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ KƚŚĞƌƐ Total

DĂũŽƌŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ
^ĂůĞŽĨĞƋƵŝƉŵĞŶƚĂŶĚǀĞŚŝĐůĞƐ ϱ͕ϯϮϭ ϭϳ͕ϯϮϲ – – ϮϮ͕ϲϰϳ
^ĂůĞŽĨƉĂƌƚƐ͕ĂƐƐĞŵďůLJĐŚĂƌŐĞƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨ
ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ ϰ͕ϯϴϴ Ϯ͕ϳϵϬ – – ϳ͕ϭϳϴ
ŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ ϮϬϲ – – – ϮϬϲ
WŽƌƚĂŶĚƌĞůĂƚĞĚĐŚĂƌŐĞƐ – – Ϯϰϯ – Ϯϰϯ
^ĂůĞŽĨǁĂƚĞƌ – – ϲϬ – ϲϬ
ŽŵŵŝƐƐŝŽŶ͕ŚĂŶĚůŝŶŐĨĞĞƐĂŶĚŽƚŚĞƌƐ – Ϯϳϱ – ϰϴ ϯϮϯ
ϵ͕ϵϭϱ ϮϬ͕ϯϵϭ ϯϬϯ ϰϴ ϯϬ͕ϲϱϳ

'ĞŽŐƌĂƉŚŝĐĂůŵĂƌŬĞƚ
DĂůĂLJƐŝĂ ϭ͕Ϭϳϳ ϯ͕ϰϳϬ – ϯϰ ϰ͕ϱϴϭ
KƚŚĞƌĐŽƵŶƚƌŝĞƐŝŶ^ŽƵƚŚĂƐƚƐŝĂ ϳϮϬ ϰ͕ϵϴϬ – ϭϭ ϱ͕ϳϭϭ
ŚŝŶĂϭ Ϯ͕ϲϴϱ ϴ͕ϱϰϵ ϯϬϯ ϯ ϭϭ͕ϱϰϬ
AustralasiaϮ ϱ͕ϰϯϯ ϯ͕ϯϵϮ – – ϴ͕ϴϮϱ
ϵ͕ϵϭϱ ϮϬ͕ϯϵϭ ϯϬϯ ϰϴ ϯϬ͕ϲϱϳ

dŝŵŝŶŐŽĨƌĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶ
Ͳ ĂƚĂƉŽŝŶƚŝŶƟŵĞ ϴ͕Ϭϯϱ ϭϳ͕ϱϴϱ – ϰϲ Ϯϱ͕ϲϲϲ
Ͳ ŽǀĞƌƟŵĞ ϭ͕ϴϴϬ Ϯ͕ϴϬϲ ϯϬϯ Ϯ ϰ͕ϵϵϭ
ϵ͕ϵϭϱ ϮϬ͕ϯϵϭ ϯϬϯ ϰϴ ϯϬ͕ϲϱϳ

ϭ
 ŚŝŶĂĐŽŶƐŝƐƚƐŽĨŚŝŶĂ͕,ŽŶŐ<ŽŶŐ͕DĂĐĂƵĂŶĚdĂŝǁĂŶ
Ϯ
 ƵƐƚƌĂůĂƐŝĂĐŽŶƐŝƐƚƐŽĨƵƐƚƌĂůŝĂ͕EĞǁĂůĞĚŽŶŝĂ͕EĞǁĞĂůĂŶĚ͕WĂƉƵĂEĞǁ'ƵŝŶĞĂĂŶĚ^ŽůŽŵŽŶ/ƐůĂŶĚƐ

 ZĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌŝŶĐůƵĚĞƐZDϭ͕ϬϬϰŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϴϲϬŵŝůůŝŽŶͿƚŚĂƚǁĂƐŝŶĐůƵĚĞĚŝŶĐŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐĂƚƚŚĞ
ďĞŐŝŶŶŝŶŐŽĨƚŚĞƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͘

ANNUAL REPORT 2018 page 169

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

7 OPERATING EXPENSES

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
Direct costs
&ŝŶŝƐŚĞĚŐŽŽĚƐ͕ǁŽƌŬŝŶƉƌŽŐƌĞƐƐĂŶĚŽƚŚĞƌ
ĚŝƌĞĐƚŽǀĞƌŚĞĂĚƐ 28,076 Ϯϱ͕ϳϲϯ – –
/ŶǀĞŶƚŽƌLJƉƌŽǀŝƐŝŽŶ;ŶĞƚͿ 288 ϮϬϯ – –
ZĂǁŵĂƚĞƌŝĂůƐĂŶĚĐŽŶƐƵŵĂďůĞƐ 172 ϭϭϳ – –
ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚĐŽƐƚƐ 117 ϭϰϰ – –
28,653 Ϯϲ͕ϮϮϳ – –

ŝƌĞĐƚŽƌƐĂŶĚĞŵƉůŽLJĞĞĐŽƐƚƐ
^ĂůĂƌŝĞƐ͕ĂůůŽǁĂŶĐĞƐ͕ŽǀĞƌƟŵĞĂŶĚďŽŶƵƐ 2,165 Ϯ͕ϮϮϮ – ϭ
ĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶƐ 192 ϭϵϳ – –
dĞƌŵŝŶĂƟŽŶďĞŶĞĮƚƐ 33 ϭϯ – –
dƌĂŝŶŝŶŐ͕ŝŶƐƵƌĂŶĐĞĂŶĚŽƚŚĞƌďĞŶĞĮƚƐ 463 ϰϭϴ – –
ŝƌĞĐƚŽƌƐ͛ƌĞŵƵŶĞƌĂƟŽŶ΀EŽƚĞϴ΁ 10 ϭϯ 4 ϯ
2,863 Ϯ͕ϴϲϯ 4 ϰ

ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ
ŵŽƌƟƐĂƟŽŶ͗
Ͳ ƉƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ 8 ϭϮ – –
Ͳ ŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ 71 ϯϱ – –
ĞƉƌĞĐŝĂƟŽŶ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 539 ϱϯϭ – –
Ͳ ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ 3 ϯ – –
621 ϱϴϭ – –

/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ
Ͳ ƌĞĐĞŝǀĂďůĞƐ 30 ϭϭ – –
- contract assets 28 – – –
58 ϭϭ – –

page 170 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϳ KWZd/E'yWE^^ΈKEd/EhΉ

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
Leases
,ŝƌĞŽĨƉůĂŶƚĂŶĚŵĂĐŚŝŶĞƌLJĂŶĚƌĞŶƚĂůŽĨǀĞŚŝĐůĞƐĨƌŽŵ͗
Ͳ ĂƐƵďƐŝĚŝĂƌLJ – – 2 ϯ
- others 229 ϯϮϭ – –
KƉĞƌĂƟŶŐůĞĂƐĞƉĂLJŵĞŶƚƐĨŽƌůĂŶĚĂŶĚďƵŝůĚŝŶŐƐ 250 Ϯϰϲ – –
479 ϱϲϳ 2 ϯ

'ĞŶĞƌĂůĞdžƉĞŶƐĞƐ
ƵĚŝƚŽƌƐ͛ƌĞŵƵŶĞƌĂƟŽŶ΀EŽƚĞϵ΁ 19 Ϯϭ 2 Ϯ
DĂŶĂŐĞŵĞŶƚĨĞĞĐŚĂƌŐĞĚďLJĂƐƵďƐŝĚŝĂƌLJ – – 8 ϭϭ
KƚŚĞƌĞdžƉĞŶƐĞƐ 370 ϯϰϰ 8 ϯϳ
389 ϯϲϱ 18 ϱϬ
33,063 ϯϬ͕ϲϭϰ 24 ϱϳ

8 DIRECTORS’ REMUNERATION

Group Company
2018 2017 2018 2017
džĞĐƵƟǀĞŝƌĞĐƚŽƌƐ
ŵŽůƵŵĞŶƚƐĂŶĚďĞŶĞĮƚƐ 4 ϳ – –
ĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶƐ 1 ϭ – –
5 ϴ – –
EŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐ
&ĞĞƐĂŶĚďĞŶĞĮƚƐ 5 ϱ 4 ϯ
10 ϭϯ 4 ϯ

 ƐƟŵĂƚĞĚŵŽŶĞƚĂƌLJǀĂůƵĞŽĨďĞŶĞĮƚƐͲŝŶͲŬŝŶĚŽĨƚŚĞdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐĂŵŽƵŶƚĞĚƚŽZDϬ͘ϬϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϬ͘ϬϯŵŝůůŝŽŶͿĨŽƌƚŚĞ
'ƌŽƵƉ͘ƐƟŵĂƚĞĚŵŽŶĞƚĂƌLJǀĂůƵĞŽĨďĞŶĞĮƚƐͲŝŶͲŬŝŶĚŽĨEŽŶͲĞdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐĂŵŽƵŶƚĞĚƚŽZDϬ͘ϮŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϬ͘ϴŵŝůůŝŽŶͿ
ĨŽƌƚŚĞ'ƌŽƵƉĂŶĚƚŚĞŽŵƉĂŶLJ͘

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉƐŽůĚƉƌŽƉĞƌƟĞƐĂŶĚĐĂƌƐƚŽƚŚĞŝƌĞĐƚŽƌƐĂŶĚƚŚĞŝƌĐůŽƐĞĨĂŵŝůLJŵĞŵďĞƌƐĨŽƌZDϬ͘ϮŵŝůůŝŽŶ
;ϮϬϭϳ͗ZDϬ͘ϲŵŝůůŝŽŶͿ͘

 KƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚĂďŽǀĞ͕ƚŚĞƌĞǁĞƌĞŶŽĐŽŵƉĞŶƐĂƟŽŶƚŽĚŝƌĞĐƚŽƌƐĨŽƌůŽƐƐŽĨŽĸĐĞ͕ŶŽůŽĂŶƐ͕ƋƵĂƐŝͲůŽĂŶƐĂŶĚŽƚŚĞƌĚĞĂůŝŶŐƐŝŶ
ĨĂǀŽƵƌŽĨĚŝƌĞĐƚŽƌƐĂŶĚŶŽŵĂƚĞƌŝĂůĐŽŶƚƌĂĐƚƐƐƵďƐŝƐƟŶŐĂƐĂƚϯϬ:ƵŶĞϮϬϭϴŽƌŝĨŶŽƚƚŚĞŶƐƵďƐŝƐƟŶŐ͕ĞŶƚĞƌĞĚŝŶƚŽƐŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞ
ƉƌĞǀŝŽƵƐĮŶĂŶĐŝĂůLJĞĂƌďLJƚŚĞŽŵƉĂŶLJŽƌŝƚƐƐƵďƐŝĚŝĂƌŝĞƐǁŚŝĐŚŝŶǀŽůǀĞĚƚŚĞŝŶƚĞƌĞƐƚƐŽĨŝƌĞĐƚŽƌƐ͘

ANNUAL REPORT 2018 page 171

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

9 AUDITORS’ REMUNERATION

Group Company
2018 2017 2018 2017
&ĞĞƐĨŽƌƐƚĂƚƵƚŽƌLJĂƵĚŝƚƐ
WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐDĂůĂLJƐŝĂ 4 ϯ 1 ϭ
DĞŵďĞƌĮƌŵƐŽĨWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ 13 ϭϱ – –
17 ϭϴ 1 ϭ

&ĞĞƐĨŽƌĂƐƐƵƌĂŶĐĞƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ
WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐDĂůĂLJƐŝĂ –1 ϭ –1 ϭ
DĞŵďĞƌĮƌŵƐŽĨWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ –1 ϭ – –
– 1
Ϯ – 1
ϭ

&ĞĞƐĨŽƌŶŽŶͲĂƵĚŝƚƐĞƌǀŝĐĞƐ
WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐDĂůĂLJƐŝĂ 1 –
DĞŵďĞƌĮƌŵƐŽĨWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ 1 ϭ
2 ϭ
19 Ϯϭ
1 –
– –
1 –
2 Ϯ

ϭ
 >ĞƐƐƚŚĂŶZDϭŵŝůůŝŽŶ

 EŽŶͲĂƵĚŝƚƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚďLJƚŚĞŽŵƉĂŶLJ͛ƐĂƵĚŝƚŽƌƐĂŶĚŝƚƐŵĞŵďĞƌĮƌŵƐĐŽŵƉƌŝƐĞƚĂdžƌĞůĂƚĞĚƐĞƌǀŝĐĞƐĂŶĚŽƚŚĞƌĂĚǀŝƐŽƌLJ
ƐĞƌǀŝĐĞƐ͘EŽŶͲĂƵĚŝƚƐĞƌǀŝĐĞƐĐĂŶďĞŽīĞƌĞĚďLJƚŚĞĞdžƚĞƌŶĂůĂƵĚŝƚŽƌƐŝĨƚŚĞƌĞĂƌĞĞĸĐŝĞŶĐLJĂŶĚǀĂůƵĞĂĚĚĞĚďĞŶĞĮƚƐƚŽƚŚĞ'ƌŽƵƉ͕
ǁŝƚŚŽƵƚĐŽŵƉƌŽŵŝƐŝŶŐĂƵĚŝƚŽƌŝŶĚĞƉĞŶĚĞŶĐĞ͘

 ĐĐƌƵĞĚĨĞĞƐĨŽƌƚŚĞϱŵŽŶƚŚƐĞŶĚĞĚEŽǀĞŵďĞƌϮϬϭϳĨŽƌƐƚĂƚƵƚŽƌLJĂƵĚŝƚƐƉƌŽǀŝĚĞĚďLJƚŚĞŽŵƉĂŶLJ͛ƐĂƵĚŝƚŽƌƐĂŶĚŝƚƐŵĞŵďĞƌĮƌŵƐ
ƚŽĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐĂŵŽƵŶƚĞĚƚŽZDϳŵŝůůŝŽŶ;ĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϳ͗ZDϭϯŵŝůůŝŽŶͿ͘

page 172 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

10 OTHER OPERATING INCOME

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
/ŶĐŽŵĞĨƌŽŵŝŶǀĞƐƚŵĞŶƚƐ 121 ϭϮϰ – –

ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐĂŶĚďĂĚĚĞďƚƐ
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚŽĨƌĞĐĞŝǀĂďůĞƐ 14 ϭϯ – –
ĂĚĚĞďƚƐƌĞĐŽǀĞƌĞĚ 1 – – –
15 ϭϯ – –

DŝƐĐĞůůĂŶĞŽƵƐŝŶĐŽŵĞ
,ŝƌĞŽĨƉůĂŶƚĂŶĚŵĂĐŚŝŶĞƌLJ 16 ϭϲ – –
ZĞŶƚĂůŝŶĐŽŵĞĨƌŽŵůĂŶĚĂŶĚďƵŝůĚŝŶŐƐ 24 ϭϴ – –
ŽŵƉĞŶƐĂƟŽŶ 51 – 1 –
ŝƌĞĐƚŽƌƐ͛ĨĞĞƐĂŶĚŽƚŚĞƌŝŶĐŽŵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ – – 1 ϭ
&ŽƌĨĞŝƚƵƌĞƐ͕ƌĞĐŽǀĞƌŝĞƐĂŶĚŽƚŚĞƌŵŝƐĐĞůůĂŶĞŽƵƐŝŶĐŽŵĞ 78 ϭϰϮ – –
169 ϭϳϲ 2 ϭ
305 ϯϭϯ 2 ϭ

ANNUAL REPORT 2018 page 173

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

11 OTHER GAINS AND LOSSES

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
EĞƚĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĞdžĐŚĂŶŐĞŐĂŝŶͬ;ůŽƐƐͿ͗
Ͳ ƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞŐĂŝŶͬ;ůŽƐƐͿĂƌŝƐŝŶŐĨƌŽŵƐĞƩůĞŵĞŶƚ
ŽĨŝŶƚĞƌĐŽŵƉĂŶLJůŽĂŶƐ 23 ;ϭϵͿ – –
Ͳ ŽƚŚĞƌƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞ;ůŽƐƐͿͬŐĂŝŶ (14) ϭϮϵ – –
Ͳ ƵŶƌĞĂůŝƐĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞ;ůŽƐƐͿͬŐĂŝŶ (19) ϰϳ – –

&ĂŝƌǀĂůƵĞŐĂŝŶͬ;ůŽƐƐͿ͗
Ͳ ĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ 4 ;ϭͿ – –
Ͳ ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉ – ;ϭϵͿ – –

'ĂŝŶŽŶĚŝƐƉŽƐĂůŽĨ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 205 ϭϬ – –
Ͳ ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ – ϯϬ – –
Ͳ ƐƵďƐŝĚŝĂƌŝĞƐ – ϭϬ – –
- associates 5 ϯϬ – –
Ͳ ŝŶǀĞƐƚŵĞŶƚ – ϱ – –

>ŽƐƐŽŶĚŝƐƉŽƐĂůŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ (12) ;ϭϯͿ – –

>ŽƐƐŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨĂƐƵďƐŝĚŝĂƌLJ΀EŽƚĞϰϳ;ĂͿ;ŝŝͿ΁ (61) – – –

ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ 2 ϭ – –

/ŵƉĂŝƌŵĞŶƚŽĨ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ (5) ;ϭϬͿ – –
Ͳ ƉƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ – ;ϮͿ – –
Ͳ ĂƐƵďƐŝĚŝĂƌLJ – – (31) –
Ͳ ŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ (72) ;ϮϯϰͿ – –
Ͳ ŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ (12) – – –
Ͳ ŝŶǀĞƐƚŵĞŶƚ (9) ;ϵͿ – –

tƌŝƚĞŽīŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ (3) ;ϯͿ – –

32 ;ϰϴͿ (31) –

page 174 SIME DARBY BERHAD

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ϭϮ :K/EdsEdhZ^͵'ZKhW

 dŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂƐĂƚϯϬ:ƵŶĞ͕ƚŚĞŝƌƌĞƐƉĞĐƟǀĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐĂŶĚĐŽƵŶƚƌŝĞƐŽĨŝŶĐŽƌƉŽƌĂƟŽŶĂƌĞĚŝƐĐůŽƐĞĚŝŶ
EŽƚĞϱϲ͘

 dŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
Material Material
joint joint
ǀĞŶƚƵƌĞƐ KƚŚĞƌƐ Total ǀĞŶƚƵƌĞƐ KƚŚĞƌƐ Total
^ŚĂƌĞŽĨƌĞƐƵůƚƐ 50 9 59 ϯϲ ϭϭ ϰϳ
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ
;ůŽƐƐͿͬŝŶĐŽŵĞ (25) 3 (22) ϲ ;ϭͿ ϱ
^ŚĂƌĞŽĨƚŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ 25 12 37 ϰϮ ϭϬ ϱϮ

hŶƋƵŽƚĞĚƐŚĂƌĞƐ͕ĂƚĐŽƐƚƐ 976 84 1,060 ϱϵϱ ϰϯϱ ϭ͕ϬϯϬ

^ŚĂƌĞŽĨƉŽƐƚͲĂĐƋƵŝƐŝƟŽŶƌĞƐĞƌǀĞƐ 134 20 154 ϴϳ ϰϬ ϭϮϳ
hŶƌĞĂůŝƐĞĚƉƌŽĮƚŽŶƚƌĂŶƐĂĐƟŽŶƐ
ǁŝƚŚũŽŝŶƚǀĞŶƚƵƌĞƐ (17) – (17) – ;ϭϳͿ ;ϭϳͿ
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – – – – ;ϵͿ ;ϵͿ
1,093 104 1,197 ϲϴϮ ϰϰϵ ϭ͕ϭϯϭ

Ă͘ DĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐ

 /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐƚŚĂƚĂƌĞŵĂƚĞƌŝĂůƚŽƚŚĞ'ƌŽƵƉĂƌĞĂƐĨŽůůŽǁƐ͗

EĂŵĞŽĨũŽŝŶƚǀĞŶƚƵƌĞ ĞƐĐƌŝƉƟŽŶ
ZĂŵƐĂLJ^ŝŵĞĂƌďLJ,ĞĂůƚŚĂƌĞ Z^,ǁĂƐĨŽƌŵĞĚĨŽůůŽǁŝŶŐƚŚĞŵĞƌŐĞƌŽĨ^ŝŵĞĂƌďLJ,ĞĂůƚŚĐĂƌĞ^ĚŶŚĚĂŶĚĸŶŝƚLJ
^ĚŶŚĚŐƌŽƵƉ;Z^,Ϳ ,ĞĂůƚŚĂƌĞ,ŽůĚŝŶŐƐWƚLJ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨZĂŵƐĂLJ,ĞĂůƚŚĂƌĞ>ƚĚ͕ƚŽďƵŝůĚĂƋƵĂůŝƚLJ
ƉŽƌƞŽůŝŽŽĨŚŽƐƉŝƚĂůƐƚŚƌŽƵŐŚŽƵƚƐŝĂ͘dŚĞƉƌŝŶĐŝƉůĞĂĐƟǀŝƟĞƐŽĨZ^,ĂƌĞŵĂŶĂŐĞŵĞŶƚŽĨ
ŚŽƐƉŝƚĂůƐĂŶĚƉƌŽǀŝƐŝŽŶŽĨƌĞůĂƚĞĚŚĞĂůƚŚĐĂƌĞƐĞƌǀŝĐĞƐ͘

tĞŝĨĂŶŐWŽƌƚ^ĞƌǀŝĐĞŽ͕͘>ƚĚ͘ tW^ǁĂƐĨŽƌŵĞĚƚŽŽǁŶĂŶĚŵĂŶĂŐĞĐĞƌƚĂŝŶƐŚĂƌĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĨŽƌƚŚĞƉŽƌƚŽƉĞƌĂƟŽŶƐŝŶ
;tW^Ϳ ƚŚĞtĞŝĨĂŶŐĐŝƚLJǁŚĞƌĞƚŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐĂŶĚƚŽĨĂĐŝůŝƚĂƚĞƚŚĞĨƵƚƵƌĞĞdžƉĂŶƐŝŽŶŽĨƚŚĞƐĞĂ
ĐŚĂŶŶĞůĨŽƌƚŚĞƌĞůĂƚĞĚƉŽƌƚĂƌĞĂǀŝĂƚŚĞĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞƌĞůĂƚĞĚƐŚŽƌĞůŝŶĞ͘

tĞŝĨĂŶŐ^ŝŵĞĂƌďLJ>ŝƋƵŝĚ t^>dǁĂƐƉƌĞǀŝŽƵƐůLJĂƐƵďƐŝĚŝĂƌLJŽĨƚŚĞ'ƌŽƵƉĂŶĚďĞĐŽŵĞĂũŽŝŶƚǀĞŶƚƵƌĞŽĨƚŚĞ'ƌŽƵƉ
dĞƌŵŝŶĂůŽ͕͘>ƚĚ͘;t^>dͿ ƐŝŶĐĞϮϯDĂLJϮϬϭϲ͘t^>dƉƌŽǀŝĚĞƐƚĞƌŵŝŶĂůŚĂŶĚůŝŶŐƐĞƌǀŝĐĞƐƌĞůĂƟŶŐƚŽƚŚĞůŝƋƵŝĚĐĂƌŐŽĞƐ͘

 tW^ĂŶĚt^>dĂƌĞƌĞŐĂƌĚĞĚĂƐŵĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐŽĨƚŚĞ'ƌŽƵƉĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴĨŽůůŽǁŝŶŐƚŚĞ
ĚĞĐŽŶƐŽůŝĚĂƟŽŶŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJ͘

ANNUAL REPORT 2018 page 175

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Amounts in RM million unless otherwise stated

ϭϮ :K/EdsEdhZ^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐ;ĐŽŶƟŶƵĞĚͿ

^ƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ
dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞŽĨƚŚĞŵĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
RSDH WPS WSDLT Total RSDH
ZĞǀĞŶƵĞ 862 – 45 927 ϴϰϲ

ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ (73) – (16) (82) ;ϲϮͿ

WƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž 116 – 5 136 ϵϯ

/ŶƚĞƌĞƐƚŝŶĐŽŵĞ 1 – – 1 ϭ
/ŶƚĞƌĞƐƚĞdžƉĞŶƐĞ (4) – (19) (23) ;ϳͿ
WƌŽĮƚͬ;ůŽƐƐͿďĞĨŽƌĞƚĂdž 113 – (14) 114 ϴϳ
dĂdžĂƟŽŶ 3 – – (12) ;ϭϮͿ
WƌŽĮƚͬ;ůŽƐƐͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 116 – (14) 102 ϳϱ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ (2) – – (2) ;ϮͿ
WƌŽĮƚͬ;ůŽƐƐͿĂƩƌŝďƵƚĂďůĞƚŽũŽŝŶƚǀĞŶƚƵƌĞƌƐ 114 – (14) 100 ϳϯ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ (18) (14) (18) (50) ϭϮ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ 96 (14) (32) 50 ϴϱ

^ŚĂƌĞŽĨƌĞƐƵůƚƐ 57 – (7) 50 ϯϲ
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ (9) (7) (9) (25) ϲ
^ŚĂƌĞŽĨƚŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ 48 (7) (16) 25 ϰϮ

page 176 SIME DARBY BERHAD

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Amounts in RM million unless otherwise stated

ϭϮ :K/EdsEdhZ^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐ;ĐŽŶƟŶƵĞĚͿ

^ƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ
dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶŽĨƚŚĞŵĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
RSDH WPS WSDLT RSDH
EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ 1,223 1,120 802 ϭ͕ϮϮϬ

ƵƌƌĞŶƚĂƐƐĞƚƐ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ 51 – 61 Ϯϴ
Other current assets 152 29 24 ϭϭϴ
203 29 85 ϭϰϲ

EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐϭ (32) – (242) ;ϲϱͿ
KƚŚĞƌŶŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ (43) – (200) ;ϱϰͿ
(75) – (442) ;ϭϭϵͿ

ƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐϭ – (67) (145) –
KƚŚĞƌĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ (140) (506) – ;ϭϯϯͿ
(140) (573) (145) ;ϭϯϯͿ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ (14) – – ;ϭϯͿ
EĞƚĂƐƐĞƚƐ 1,197 576 300 ϭ͕ϭϬϭ

ϭ
 &ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĐŽŶƐŝƐƚŽĨďŽƌƌŽǁŝŶŐƐĂŶĚƐŚĂƌĞŚŽůĚĞƌƐ͛ůŽĂŶ

 dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶƌĞŇĞĐƚƚŚĞĂŵŽƵŶƚƐƉƌĞƐĞŶƚĞĚŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞũŽŝŶƚ
ǀĞŶƚƵƌĞƐĂĚũƵƐƚĞĚĨŽƌĚŝīĞƌĞŶĐĞƐŝŶĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐďĞƚǁĞĞŶƚŚĞ'ƌŽƵƉĂŶĚƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐ͕ĨĂŝƌǀĂůƵĞĂĚũƵƐƚŵĞŶƚƐĂƚ
ĚĂƚĞŽĨĂĐƋƵŝƐŝƟŽŶĂŶĚƵŶƌĞĂůŝƐĞĚƉƌŽĮƚĂĚũƵƐƚŵĞŶƚƐ͘

 dŚĞŵŽƐƚƌĞĐĞŶƚĂǀĂŝůĂďůĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞƵƐĞĚŝŶĂƉƉůLJŝŶŐĞƋƵŝƚLJŵĞƚŚŽĚŽĨĂĐĐŽƵŶƟŶŐǁŝƚŚ
ĂƉƉƌŽƉƌŝĂƚĞĂĚũƵƐƚŵĞŶƚƐŵĂĚĞĨŽƌƐŝŐŶŝĮĐĂŶƚƚƌĂŶƐĂĐƟŽŶƐŽĐĐƵƌƌŝŶŐďĞƚǁĞĞŶƚŚĂƚĚĂƚĞĂŶĚϯϬ:ƵŶĞ͘

ANNUAL REPORT 2018 page 177

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϮ :K/EdsEdhZ^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůũŽŝŶƚǀĞŶƚƵƌĞƐ;ĐŽŶƟŶƵĞĚͿ

ZĞĐŽŶĐŝůŝĂƟŽŶ
 ZĞĐŽŶĐŝůŝĂƟŽŶŽĨƚŚĞƐƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶƉƌĞƐĞŶƚĞĚƚŽƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶƚŚĞŵĂƚĞƌŝĂů
ũŽŝŶƚǀĞŶƚƵƌĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
RSDH WPS WSDLT Total RSDH
EĞƚĂƐƐĞƚƐ
ƚϭ:ƵůLJ 1,101 590 271 1,962 ϭ͕Ϭϭϲ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ 96 (14) (32) 50 ϴϱ
ĂƉŝƚĂůŝŶũĞĐƟŽŶ – – 61 61 –
ƚϯϬ:ƵŶĞ 1,197 576 300 2,073 ϭ͕ϭϬϭ

'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚ;йͿ 50.0 36.6 50.0 ϱϬ͘Ϭ

/ŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐ 598 213 150 961 ϱϱϬ

'ŽŽĚǁŝůů 132 – – 132 ϭϯϮ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 730 213 150 1,093 ϲϴϮ

ď͘ ŽŵŵŝƚŵĞŶƚƐĂŶĚĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐ

 WƵƌƐƵĂŶƚƚŽƚŚĞũŽŝŶƚǀĞŶƚƵƌĞĂŐƌĞĞŵĞŶƚ͕ĂĚĚŝƟŽŶĂůƐŚĂƌĞĐĂƉŝƚĂůŽĨZDϮϬŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϮŵŝůůŝŽŶͿĨŽƌt^>d
ŝƐƌĞƋƵŝƌĞĚƚŽďĞŝŶũĞĐƚĞĚďĞĨŽƌĞĞĐĞŵďĞƌϮϬϮϭ͘

 ƐƵďƐŝĚŝĂƌLJŽĨZ^,ǁĂƐŶĂŵĞĚĂƐŽŶĞŽĨƚŚĞĚĞĨĞŶĚĂŶƚƐŝŶĂĚŝƐƉƵƚĞŝŶǀŽůǀŝŶŐŽǁŶĞƌƐŚŝƉŽĨĂƉĂƌĐĞůŽĨůĂŶĚǁŚŝĐŚŝƚŚĂĚ
ƉƵƌĐŚĂƐĞĚ͘dŚĞƉůĂŝŶƟīŝƐƐĞĞŬŝŶŐĨŽƌƚŚĞůĞŐĂůŽǁŶĞƌƐŚŝƉŽĨƚŚĞůĂŶĚĂŶĚĐŽŵƉĞŶƐĂƟŽŶŽĨ/ZϭϬϬďŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJ
ZDϮϴŵŝůůŝŽŶͿĨƌŽŵƚŚĞĞŝŐŚƚĚĞĨĞŶĚĂŶƚƐƚŽďĞũŽŝŶƚůLJĂŶĚƐĞǀĞƌĂůůLJůŝĂďůĞ͘dŚĞŽƉŝŶŝŽŶŽĨƚŚĞůĞŐĂůĐŽƵŶƐĞůŝŶĚŝĐĂƚĞƐZ^,
ŚĂƐĂŐŽŽĚĐŚĂŶĐĞŽĨƐƵĐĐĞƐƐŝŶĚĞĨĞŶĚŝŶŐƚŚĞĐĂƐĞ͘

 KƚŚĞƌƚŚĂŶƚŚĞĂďŽǀĞ͕ƚŚĞƌĞĂƌĞŶŽĐŽŵŵŝƚŵĞŶƚƐŶŽƌĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐƌĞůĂƟŶŐƚŽƚŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶƚŚĞũŽŝŶƚǀĞŶƚƵƌĞƐ͘

page 178 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϯ ^^K/d^͵'ZKhW

 dŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶƚŚĞĂƐƐŽĐŝĂƚĞƐĂƐĂƚϯϬ:ƵŶĞ͕ƚŚĞŝƌƌĞƐƉĞĐƟǀĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐĂŶĚĐŽƵŶƚƌŝĞƐŽĨŝŶĐŽƌƉŽƌĂƟŽŶĂƌĞĚŝƐĐůŽƐĞĚŝŶ
EŽƚĞϱϲ͘

 dŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶĂƐƐŽĐŝĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
Material Material
ĂƐƐŽĐŝĂƚĞ KƚŚĞƌƐ Total ĂƐƐŽĐŝĂƚĞƐ KƚŚĞƌƐ Total
^ŚĂƌĞŽĨƌĞƐƵůƚƐ (87) – (87) ϰ ;ϱͿ ;ϭͿ
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ
;ůŽƐƐͿͬŝŶĐŽŵĞ – (21) (21) – Ϯϱ Ϯϱ
^ŚĂƌĞŽĨƚŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞ
;ůŽƐƐͿͬŝŶĐŽŵĞ (87) (21) (108) ϰ ϮϬ Ϯϰ

^ŚĂƌĞŽĨĐĂƉŝƚĂůƌĞƐĞƌǀĞ (4) – (4) – – –

YƵŽƚĞĚƐŚĂƌĞƐŝŶDĂůĂLJƐŝĂ͕ĂƚĐŽƐƚƐ 292 – 292 ϮϵϮ – ϮϵϮ

hŶƋƵŽƚĞĚƐŚĂƌĞƐ͕ĂƚĐŽƐƚƐ – 243 243 ϳϳ ϮϬϯ ϮϴϬ
^ŚĂƌĞŽĨƉŽƐƚͲĂĐƋƵŝƐŝƟŽŶƌĞƐĞƌǀĞƐ 59 60 119 ;ϮϲͿ ϭϯϱ ϭϬϵ
hŶƌĞĂůŝƐĞĚƉƌŽĮƚŽŶƚƌĂŶƐĂĐƟŽŶƐ
ǁŝƚŚĂƐƐŽĐŝĂƚĞƐ (8) (2) (10) ;ϴͿ ;ϮͿ ;ϭϬͿ
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ (103) (23) (126) – ;ϭϵͿ ;ϭϵͿ
240 278 518 ϯϯϱ ϯϭϳ ϲϱϮ

Ă͘ DĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐ

 /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ƚŚĞĂƐƐŽĐŝĂƚĞƚŚĂƚŝƐŵĂƚĞƌŝĂůƚŽƚŚĞ'ƌŽƵƉŝƐĂƐĨŽůůŽǁƐ͗

EĂŵĞŽĨĂƐƐŽĐŝĂƚĞ ĞƐĐƌŝƉƟŽŶ
ĂƐƚĞƌŶΘKƌŝĞŶƚĂůĞƌŚĂĚ ΘKŝƐůŝƐƚĞĚŽŶƚŚĞDĂŝŶDĂƌŬĞƚŽĨƵƌƐĂDĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚǁŝƚŚƉƌĞƐĞŶĐĞŝŶƚŚĞ
ŐƌŽƵƉ;ΘKͿ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚŚŽƐƉŝƚĂůŝƚLJƐĞĐƚŽƌƐ͕ƉƌŝŵĂƌŝůLJŝŶ'ƌĞĂƚĞƌ<ƵĂůĂ>ƵŵƉƵƌ͕WĞŶĂŶŐ
ĂŶĚ:ŽŚŽƌ͘

 dĞƐĐŽ^ƚŽƌĞƐ;DĂůĂLJƐŝĂͿ^ĚŶŚĚ;dĞƐĐŽͿŝƐŶŽůŽŶŐĞƌƌĞŐĂƌĚĞĚĂƐĂŵĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞ
ϮϬϭϴĂƐƚŚĞ'ƌŽƵƉ͛ƐĐĂƌƌLJŝŶŐǀĂůƵĞŝŶƚŚĞĂƐƐŽĐŝĂƚĞŝƐŶŝů͘dŚĞ'ƌŽƵƉĚŽĞƐŶŽƚŚĂǀĞůĞŐĂůŽƌĐŽŶƐƚƌƵĐƟǀĞŽďůŝŐĂƟŽŶƚŽƌĞĐŽŐŶŝƐĞ
ĨƵƌƚŚĞƌůŽƐƐĞƐŝŶƌĞƐƉĞĐƚŽĨƚŚŝƐĂƐƐŽĐŝĂƚĞ͘

ANNUAL REPORT 2018 page 179

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϯ ^^K/d^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐ;ĐŽŶƟŶƵĞĚͿ

^ƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ
dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĂŶĚĚŝǀŝĚĞŶĚƐƌĞĐĞŝǀĞĚĨƌŽŵƚŚĞŵĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
E&O E&O dĞƐĐŽ Total
ZĞǀĞŶƵĞ 983 ϳϬϱ ϰ͕ϰϯϬ ϱ͕ϭϯϱ

ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ (15) ;ϭϵͿ ;ϮϬϯͿ ;ϮϮϮͿ

WƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž 270 ϭϯϳ ϭϭϰ Ϯϱϭ

/ŶƚĞƌĞƐƚŝŶĐŽŵĞ 19 ϵ ϭ ϭϬ
/ŶƚĞƌĞƐƚĞdžƉĞŶƐĞ (61) ;ϱϭͿ ;ϭϳϭͿ ;ϮϮϮͿ
WƌŽĮƚͬ;ůŽƐƐͿďĞĨŽƌĞƚĂdž 228 ϵϱ ;ϱϲͿ ϯϵ
dĂdžĂƟŽŶ (80) ;ϯϰͿ ;ϲϰͿ ;ϵϴͿ
WƌŽĮƚͬ;ůŽƐƐͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 148 ϲϭ ;ϭϮϬͿ ;ϱϵͿ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ (16) ;ϰͿ – ;ϰͿ
WƌŽĮƚͬ;ůŽƐƐͿĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨĂƐƐŽĐŝĂƚĞƐ 132 ϱϳ ;ϭϮϬͿ ;ϲϯͿ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞůŽƐƐ (1) ;ϮͿ – ;ϮͿ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ 131 ϱϱ ;ϭϮϬͿ ;ϲϱͿ

^ŚĂƌĞŽĨƌĞƐƵůƚƐ
Ͳ ĐƵƌƌĞŶƚLJĞĂƌ 16 ϳ – ϳ
Ͳ ĚŝůƵƟŽŶ – ;ϯͿ – ;ϯͿ
/ŵƉĂŝƌŵĞŶƚ (103) – – –
^ŚĂƌĞŽĨƚŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ (87) ϰ – ϰ

^ŚĂƌĞŽĨĐĂƉŝƚĂůƌĞƐĞƌǀĞ (4) – – –
ŝǀŝĚĞŶĚƐƌĞĐĞŝǀĞĚ 5 ϲ – ϲ

page 180 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϯ ^^K/d^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐ;ĐŽŶƟŶƵĞĚͿ

^ƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ
dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶŽĨƚŚĞŵĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
E&O E&O dĞƐĐŽ
EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ 3,406 ϯ͕Ϯϯϲ ϯ͕ϰϯϮ

ƵƌƌĞŶƚĂƐƐĞƚƐ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ 522 ϰϭϰ ϳϯ
Other current assets 1,299 ϭ͕ϰϯϭ ϰϲϲ
1,821 ϭ͕ϴϰϱ ϱϯϵ

EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐϭ (1,255) ;ϭ͕ϮϱϭͿ ;ϭ͕ϭϬϵͿ
KƚŚĞƌŶŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ (348) ;ϯϳϬͿ ;ϭϬϭͿ
(1,603) ;ϭ͕ϲϮϭͿ ;ϭ͕ϮϭϬͿ

ƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐϭ (396) ;ϮϴϮͿ ;ϭ͕ϳϮϮͿ
KƚŚĞƌĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ (228) ;ϮϰϮͿ ;ϭ͕ϬϯϭͿ
(624) ;ϱϮϰͿ ;Ϯ͕ϳϱϯͿ

WƌĞĨĞƌĞŶĐĞƐŚĂƌĞƐ – – ;ϯϬϬͿ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ (27) ;ϱϯͿ –
EĞƚĂƐƐĞƚƐͬ;ůŝĂďŝůŝƟĞƐͿ 2,973 Ϯ͕ϴϴϯ ;ϮϵϮͿ

ϭ
 &ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĐŽŶƐŝƐƚŽĨďŽƌƌŽǁŝŶŐƐĂŶĚƐŚĂƌĞŚŽůĚĞƌƐ͛ůŽĂŶƐ

ANNUAL REPORT 2018 page 181

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϯ ^^K/d^͵'ZKhWΈKEd/EhΉ

Ă͘ DĂƚĞƌŝĂůĂƐƐŽĐŝĂƚĞƐ;ĐŽŶƟŶƵĞĚͿ

^ƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ;ĐŽŶƟŶƵĞĚͿ
 dŚĞƐƵŵŵĂƌŝƐĞĚƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶƌĞŇĞĐƚƚŚĞĂŵŽƵŶƚƐƉƌĞƐĞŶƚĞĚŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞĂƐƐŽĐŝĂƚĞƐ
ĂĚũƵƐƚĞĚĨŽƌĚŝīĞƌĞŶĐĞƐŝŶĂĐĐŽƵŶƟŶŐƉŽůŝĐŝĞƐďĞƚǁĞĞŶƚŚĞ'ƌŽƵƉĂŶĚƚŚĞĂƐƐŽĐŝĂƚĞƐ͕ĨĂŝƌǀĂůƵĞĂĚũƵƐƚŵĞŶƚƐĂƚƚŚĞĂĐƋƵŝƐŝƟŽŶ
ĚĂƚĞĂŶĚƵŶƌĞĂůŝƐĞĚƉƌŽĮƚĂĚũƵƐƚŵĞŶƚƐ͘

 dŚĞŵŽƐƚƌĞĐĞŶƚĂǀĂŝůĂďůĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨƚŚĞĂƐƐŽĐŝĂƚĞƐĂƌĞƵƐĞĚŝŶĂƉƉůLJŝŶŐĞƋƵŝƚLJŵĞƚŚŽĚŽĨĂĐĐŽƵŶƟŶŐǁŝƚŚ
ĂƉƉƌŽƉƌŝĂƚĞĂĚũƵƐƚŵĞŶƚƐŵĂĚĞĨŽƌƐŝŐŶŝĮĐĂŶƚƚƌĂŶƐĂĐƟŽŶƐŽĐĐƵƌƌŝŶŐďĞƚǁĞĞŶƚŚĂƚĚĂƚĞĂŶĚϯϬ:ƵŶĞ͘

ZĞĐŽŶĐŝůŝĂƟŽŶ
 ZĞĐŽŶĐŝůŝĂƟŽŶŽĨƚŚĞƐƵŵŵĂƌŝƐĞĚĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶƉƌĞƐĞŶƚĞĚƚŽƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶƚŚĞŵĂƚĞƌŝĂů
ĂƐƐŽĐŝĂƚĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
E&O E&O dĞƐĐŽ Total
EĞƚĂƐƐĞƚƐͬ;ůŝĂďŝůŝƟĞƐͿ
ƚϭ:ƵůLJ 2,883 Ϯ͕ϳϯϳ ;ϭϳϮͿ Ϯ͕ϱϲϱ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ 131 ϱϱ ;ϭϮϬͿ ;ϲϱͿ
ŝǀŝĚĞŶĚƉĂŝĚ (40) ;ϮϱͿ – ;ϮϱͿ
ZĞƐĞƌǀĞƐŵŽǀĞŵĞŶƚ (1) ϭ – ϭ
ĂƉŝƚĂůŝŶũĞĐƟŽŶ – ϭϭϱ – ϭϭϱ
ƚϯϬ:ƵŶĞ 2,973 Ϯ͕ϴϴϯ ;ϮϵϮͿ Ϯ͕ϱϵϭ

'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚ;йͿ 11.8 ϭϭ͘ϲ ϯϬ͘Ϭ

Interest in associates 340 ϯϯϮ ;ϴϴͿ Ϯϰϰ

/ŵƉĂŝƌŵĞŶƚĂŶĚŐŽŽĚǁŝůů (100) ϯ – ϯ
hŶƌĞĐŽŐŶŝƐĞĚƐŚĂƌĞŽĨůŽƐƐĞƐ – – ϴϴ ϴϴ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 240 ϯϯϱ – ϯϯϱ

 dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨƚŚĞ'ƌŽƵƉ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶΘKǁĂƐĚĞƚĞƌŵŝŶĞĚďĂƐĞĚŽŶƚŚĞŚŝŐŚĞƌŽĨƚŚĞǀĂůƵĞͲŝŶͲƵƐĞĂŶĚŝƚƐĨĂŝƌ
ǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůů͘ƵƌŝŶŐƚŚĞĐƵƌƌĞŶƚĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞǀĂůƵĞͲŝŶͲƵƐĞĐĂůĐƵůĂƟŽŶǁĂƐĐŽŵƉƵƚĞĚƵƐŝŶŐƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚ
ŵŽĚĞůŽŶƚŚĞĂƐƐƵŵƉƟŽŶƚŚĂƚƚŚĞĚŝǀŝĚĞŶĚLJŝĞůĚǁŝůůƌĞŵĂŝŶĂƚƚŚĞƐĂŵĞƋƵĂŶƚƵŵĂƐƚŚĞĂǀĞƌĂŐĞĚŝǀŝĚĞŶĚĚĞĐůĂƌĞĚďLJΘKĨŽƌ
ƚŚĞƉĂƐƚϱLJĞĂƌƐĨƌŽŵϮϬϭϰƚŽϮϬϭϴ͘dŚĞĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůůǁĂƐĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞŵĂƌŬĞƚƉƌŝĐĞŽĨƚŚĞΘKƐŚĂƌĞƐ
ĂƐůŝƐƚĞĚŽŶƵƌƐĂDĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚǁĞďƐŝƚĞŽŶϮϵ:ƵŶĞϮϬϭϴ͕ƚŚĞůĂƐƚƚƌĂĚŝŶŐĚĂLJƉƌŝŽƌƚŽƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͘ƌŝƐŝŶŐ
ĨƌŽŵƚŚĞĂƐƐĞƐƐŵĞŶƚ͕ƚŚĞ'ƌŽƵƉƌĞĐŽŐŶŝƐĞĚĂŶŝŵƉĂŝƌŵĞŶƚĐŚĂƌŐĞŽĨZDϭϬϯŵŝůůŝŽŶƚŽǁƌŝƚĞĚŽǁŶƚŚĞŝŶǀĞƐƚŵĞŶƚŝŶΘKƚŽŝƚƐ
ĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůů͘

ď͘ ŽŵŵŝƚŵĞŶƚƐĂŶĚĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐ

 dŚĞƌĞĂƌĞŶŽĐŽŵŵŝƚŵĞŶƚƐŶŽƌĐŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐƌĞůĂƟŶŐƚŽƚŚĞ'ƌŽƵƉ͛ƐŝŶƚĞƌĞƐƚŝŶƚŚĞĂƐƐŽĐŝĂƚĞƐ͘

page 182 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

14 FINANCE INCOME

Group Company
2018 2017 2018 2017
/ŶƚĞƌĞƐƚŝŶĐŽŵĞĨƌŽŵ͗
Ͳ ƐƵďƐŝĚŝĂƌŝĞƐ – – 7 Ϯϱϳ
Ͳ ĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 48 ϰϲϱ – –
Ͳ ďĂŶŬƐĂŶĚŽƚŚĞƌĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ 30 ϯϬ – ϱ
Ͳ ũŽŝŶƚǀĞŶƚƵƌĞƐ 24 ϭϮ – –
Ͳ ŽƚŚĞƌŝŶƚĞƌĞƐƚŝŶĐŽŵĞ 1 ϰ – –
103 ϱϭϭ 7 ϮϲϮ
ĐĐƌĞƟŽŶŽĨĚŝƐĐŽƵŶƚŽŶƌĞĐĞŝǀĂďůĞƐ 1 ϭ – –
104 ϱϭϮ 7 ϮϲϮ

15 FINANCE COSTS

Group Company
2018 2017 2018 2017
/ŶƚĞƌĞƐƚĞdžƉĞŶƐĞƉĂŝĚƚŽ͗
Ͳ ďĂŶŬƐĂŶĚŽƚŚĞƌĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ 109 ϭϰϯ – –
Ͳ ĂƐƵďƐŝĚŝĂƌLJ – – – ϭϬϯ
ƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉŝŶƚĞƌĞƐƚ 9 ϭϵ – –
/ƐůĂŵŝĐĮŶĂŶĐŝŶŐĚŝƐƚƌŝďƵƟŽŶƉĂLJŵĞŶƚ 11 ϭϱϴ 4 ϰϴ
dŽƚĂůĮŶĂŶĐĞĐŽƐƚƐ 129 ϯϮϬ 4 ϭϱϭ

/ŶƚĞƌĞƐƚĐĂƉŝƚĂůŝƐĞĚŝŶ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ (16) ;ϮϬͿ – –
Ͳ ŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ – ;ϭϭͿ – –
EĞƚĮŶĂŶĐĞĐŽƐƚƐ 113 Ϯϴϵ 4 ϭϱϭ

ANNUAL REPORT 2018 page 183

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

16 TAXATION

Group Company
2018 2017 2018 2017
/ŶĐŽŵĞƚĂdž͗
/ŶƌĞƐƉĞĐƚŽĨĐƵƌƌĞŶƚLJĞĂƌ
Ͳ DĂůĂLJƐŝĂŶŝŶĐŽŵĞƚĂdž 43 ϰϯ – –
Ͳ ĨŽƌĞŝŐŶŝŶĐŽŵĞƚĂdž 212 ϭϵϮ – –
/ŶƌĞƐƉĞĐƚŽĨƉƌŝŽƌLJĞĂƌƐ
Ͳ DĂůĂLJƐŝĂŶŝŶĐŽŵĞƚĂdž (5) ϵ – –
Ͳ ĨŽƌĞŝŐŶŝŶĐŽŵĞƚĂdž 70 ϵ – –
dŽƚĂůŝŶĐŽŵĞƚĂdž 320 Ϯϱϯ – –

ĞĨĞƌƌĞĚƚĂdž͗
Ͳ ŽƌŝŐŝŶĂƟŽŶĂŶĚƌĞǀĞƌƐĂůŽĨƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐ 63 ;ϯϯͿ – ;ϭͿ
Ͳ ĞīĞĐƚƐŽĨƌĞĐŽŐŶŝƟŽŶŽĨƉƌĞǀŝŽƵƐůLJƵŶƌĞĐŽŐŶŝƐĞĚƚĂdžůŽƐƐĞƐ
ĂŶĚŽƚŚĞƌƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐ (3) ;ϴͿ – –
dŽƚĂůĚĞĨĞƌƌĞĚƚĂdž 60 ;ϰϭͿ – ;ϭͿ
dŽƚĂůƚĂdžĞdžƉĞŶƐĞͬ;ĐƌĞĚŝƚͿ 380 ϮϭϮ – ;ϭͿ

page 184 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϲ dyd/KEΈKEd/EhΉ

dĂdžƌĞĐŽŶĐŝůŝĂƟŽŶ
ZĞĐŽŶĐŝůŝĂƟŽŶĨƌŽŵƚĂdžĂƚĂƉƉůŝĐĂďůĞƚĂdžƌĂƚĞƚŽƚĂdžĞdžƉĞŶƐĞͬ;ĐƌĞĚŝƚͿŝƐĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
WƌŽĮƚďĞĨŽƌĞƚĂdž 1,065 ϭ͕ϬϬϳ 1,714 ϭ͕ϰϱϱ
>ĞƐƐ͗ ^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐ (59) ;ϰϳͿ – –
  ^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨĂƐƐŽĐŝĂƚĞƐ 87 ϭ – –
1,093 ϵϲϭ 1,714 ϭ͕ϰϱϱ

ƉƉůŝĐĂďůĞƚĂdž 276 Ϯϭϳ 411 ϯϰϵ

tŝƚŚŚŽůĚŝŶŐƚĂdžŽŶĨŽƌĞŝŐŶŝŶĐŽŵĞ 23 Ϯϭ
WƌŽǀŝƐŝŽŶĨŽƌǁŝƚŚŚŽůĚŝŶŐƚĂdžƌĞĐŽǀĞƌĂďůĞ 71 – –
īĞĐƚƐŽĨƚĂdžŝŶĐĞŶƟǀĞƐĂŶĚŶŽŶͲƚĂdžĂďůĞŝŶĐŽŵĞ͗
Ͳ ŶŽŶͲƚĂdžĂďůĞĚŝǀŝĚĞŶĚƐ (29) ;ϯϬͿ
Ͳ ĚŝƐƉŽƐĂůŽĨΘKƐŚĂƌĞƐĂŶĚǁĂƌƌĂŶƚƐ – ;ϴͿ
Ͳ ƚĂdžŝŶĐĞŶƟǀĞƐĂŶĚŽƚŚĞƌŝŶĐŽŵĞ (25) ;ϵϲͿ
īĞĐƚƐŽĨŶŽŶͲĚĞĚƵĐƟďůĞĞdžƉĞŶƐĞƐ͗
Ͳ ŝŵƉĂŝƌŵĞŶƚŽĨŐŽŽĚǁŝůů – ϱϵ
Ͳ ŽƚŚĞƌĞdžƉĞŶƐĞƐ 60 ϲϵ
īĞĐƚƐŽĨĐĂƉŝƚĂůŐĂŝŶƐƚĂdž (17) ;ϱͿ
WĞƌƉĞƚƵĂůƐƵŬƵŬĚŝƐƚƌŝďƵƟŽŶĂŶĚĞdžƉĞŶƐĞƐ – ;ϮϵͿ
īĞĐƚƐŽĨĚĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐŶŽƚƌĞĐŽŐŶŝƐĞĚĂŶĚƉƌĞǀŝŽƵƐůLJ
ƵŶƌĞĐŽŐŶŝƐĞĚĚĞĨĞƌƌĞĚƚĂdžĞƐ 27 ;ϰͿ
;KǀĞƌͿͬƵŶĚĞƌƉƌŽǀŝƐŝŽŶŝŶƉƌŝŽƌLJĞĂƌƐ (6) ϭϴ
dĂdžĞdžƉĞŶƐĞͬ;ĐƌĞĚŝƚͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 380 ϮϭϮ
– –
–
(423) ;ϯϯϲͿ
– –
(1) ;ϭͿ
– –
13 ϭϲ
– –
– ;ϮϵͿ
– –
– –
– ;ϭͿ

īĞĐƟǀĞƚĂdžƌĂƚĞ;йͿ 34.8 ϮϮ͘ϭ – –

ANNUAL REPORT 2018 page 185

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϳ /^KEd/EhKWZd/KE^͵'ZKhW

 ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐĐŽŶƐŝƐƚƐŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJ͕ǁŚŝĐŚĐĞĂƐĞĚƚŽďĞƐƵďƐŝĚŝĂƌŝĞƐŽĨƚŚĞ'ƌŽƵƉĨŽůůŽǁŝŶŐƚŚĞ
ĐŽŵƉůĞƟŽŶŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͛ƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƚŽƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞ
ŽŵƉĂŶLJŽŶϮϵEŽǀĞŵďĞƌϮϬϭϳ͘

Ă͘ ŶĂůLJƐŝƐŽĨƚŚĞƌĞƐƵůƚƐŽĨƚŚĞĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐŝƐĂƐĨŽůůŽǁƐ͗

2018 2017
^ƚĂƚĞŵĞŶƚƐŽĨWƌŽĮƚŽƌ>ŽƐƐ

ZĞǀĞŶƵĞ 6,980 ϭϲ͕ϵϱϴ

KƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐ (5,588) ;ϭϰ͕ϱϵϱͿ
KƚŚĞƌŽƉĞƌĂƟŶŐŝŶĐŽŵĞ 43 ϭϯϵ
KƚŚĞƌŐĂŝŶƐ 154 ϰϰ
KƉĞƌĂƟŶŐƉƌŽĮƚ 1,589 Ϯ͕ϱϰϲ
^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ 111 ϮϯϮ
WƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž 1,700 Ϯ͕ϳϳϴ
&ŝŶĂŶĐĞŝŶĐŽŵĞ 69 ϭϲϯ
Finance costs (130) ;ϱϭϴͿ
WƌŽĮƚďĞĨŽƌĞƚĂdž 1,639 Ϯ͕ϰϮϯ
dĂdžĂƟŽŶ (261) ;ϱϯϳͿ
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,378 ϭ͕ϴϴϲ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨ͗
Ͳ ƚŚĞŽŵƉĂŶLJ 1,301 ϭ͕ϴϮϯ
- perpetual sukuk 52 Ϯ
Ͳ ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ 25 ϲϭ
1,378 ϭ͕ϴϴϲ

page 186 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϭϳ /^KEd/EhKWZd/KE^͵'ZKhWΈKEd/EhΉ

Ă͘ ŶĂůLJƐŝƐŽĨƚŚĞƌĞƐƵůƚƐŽĨƚŚĞĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐŝƐĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

2018 2017
^ƚĂƚĞŵĞŶƚƐŽĨŽŵƉƌĞŚĞŶƐŝǀĞ/ŶĐŽŵĞ

WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,378 ϭ͕ϴϴϲ

KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ
/ƚĞŵƐƚŚĂƚǁŝůůďĞƌĞĐůĂƐƐŝĮĞĚƐƵďƐĞƋƵĞŶƚůLJƚŽƉƌŽĮƚŽƌůŽƐƐ
ƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ (398) ϯϭϲ
EĞƚĐŚĂŶŐĞŝŶĨĂŝƌǀĂůƵĞŽĨ͗
Ͳ ŝŶǀĞƐƚŵĞŶƚƐ (2) ;ϰͿ
Ͳ ĐĂƐŚŇŽǁŚĞĚŐĞƐ 14 ϯϵ
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ (40) ϲϲ
dĂdžĂƟŽŶ (1) ;ϳͿ
(427) ϰϭϬ

ZĞĐůĂƐƐŝĮĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͗
Ͳ ĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐŽŶ͗
Ͳ ƌĞƉĂLJŵĞŶƚŽĨŶĞƚŝŶǀĞƐƚŵĞŶƚƐ – ϭϬ
Ͳ ĚĞĐŽŶƐŽůŝĚĂƟŽŶͬĚŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ 188 ;ϳͿ
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐĂƐĂĚũƵƐƚŵĞŶƚƚŽƌĞǀĞŶƵĞĂŶĚ
 ŽƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ 11 ;ϭϰͿ
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƐ – Ϯ
(228) ϰϬϭ

/ƚĞŵƐƚŚĂƚǁŝůůŶŽƚďĞƌĞĐůĂƐƐŝĮĞĚƐƵďƐĞƋƵĞŶƚůLJƚŽƉƌŽĮƚŽƌůŽƐƐ
ĐƚƵĂƌŝĂůŐĂŝŶƐŽŶĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐ – ϭϳ
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞůŽƐƐŽĨĂũŽŝŶƚǀĞŶƚƵƌĞ – ;ϴͿ
dĂdžĂƟŽŶ – ;ϰͿ
– ϱ
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ (228) ϰϬϲ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,150 Ϯ͕ϮϵϮ

dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨ͗
Ͳ ƚŚĞŽŵƉĂŶLJ 1,088 Ϯ͕ϮϬϵ
- perpetual sukuk 52 Ϯ
Ͳ ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ 10 ϴϭ
1,150 Ϯ͕ϮϵϮ

ANNUAL REPORT 2018 page 187

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Amounts in RM million unless otherwise stated

ϭϳ /^KEd/EhKWZd/KE^͵'ZKhWΈKEd/EhΉ

ď͘ ŶĂůLJƐŝƐŽĨƚŚĞĐĂƐŚŇŽǁƐŽĨƚŚĞĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐŝƐĂƐĨŽůůŽǁƐ͗

2018 2017
ZĞƐƚĂƚĞĚ
^ƚĂƚĞŵĞŶƚƐŽĨĂƐŚ&ůŽǁƐ

EĞƚĐĂƐŚĨƌŽŵŽƉĞƌĂƟŶŐĂĐƟǀŝƟĞƐ 596 ϯ͕ϰϱϮ

EĞƚĐĂƐŚƵƐĞĚŝŶŝŶǀĞƐƟŶŐĂĐƟǀŝƟĞƐ (1,474) 1
;ϭ͕ϴϭϯͿ
EĞƚĐĂƐŚƵƐĞĚŝŶĮŶĂŶĐŝŶŐĂĐƟǀŝƟĞƐ (936) ;ϭ͕ϯϳϵͿ
EĞƚ;ĚĞĐƌĞĂƐĞͿͬŝŶĐƌĞĂƐĞŝŶĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ (1,814) ϮϲϬ
&ŽƌĞŝŐŶĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (34) ϰϬ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƚďĞŐŝŶŶŝŶŐŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,848 ϭ͕ϱϰϴ
ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ – ϭ͕ϴϰϴ

ϭ
 /ŶĐůƵĚĞƐĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĚĞĐŽŶƐŽůŝĚĂƚĞĚŽĨZDϭ͕ϴϯϴŵŝůůŝŽŶ

ϭϴ ZE/E'^WZ^,Zͳ'ZKhW

 ĂƐŝĐĞĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨƚŚĞŽŵƉĂŶLJĂƌĞĐŽŵƉƵƚĞĚĂƐĨŽůůŽǁƐ͗

2018 2017
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ
Ͳ ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 618 ϲϭϱ
Ͳ ĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 1,301 ϭ͕ϴϮϯ
1,919 Ϯ͕ϰϯϴ

tĞŝŐŚƚĞĚĂǀĞƌĂŐĞŶƵŵďĞƌŽĨŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶŝƐƐƵĞ;ŵŝůůŝŽŶͿ 6,801 ϲ͕ϲϯϵ

ĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞ;ƐĞŶͿ
Ͳ ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 9.1 ϵ͘ϯ
Ͳ ĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 19.1 Ϯϳ͘ϰ
28.2 ϯϲ͘ϳ

 dŚĞĚŝůƵƚĞĚĞĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞŽĨƚŚĞ'ƌŽƵƉŝƐĞƋƵĂůƚŽƚŚĞďĂƐŝĐĞĂƌŶŝŶŐƐƉĞƌƐŚĂƌĞĂƐƚŚĞ'ƌŽƵƉĚŽĞƐŶŽƚŚĂǀĞĂŶLJŵĂƚĞƌŝĂů
ƉŽƚĞŶƟĂůĚŝůƵƟǀĞŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶŝƐƐƵĞ͘

page 188 SIME DARBY BERHAD

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Amounts in RM million unless otherwise stated

19 DIVIDENDS

'ƌŽƵƉͬŽŵƉĂŶLJ
2018 2017
&ŝŶĂůĚŝǀŝĚĞŶĚŽĨϭϳ͘ϬƐĞŶƉĞƌƐŚĂƌĞ;ϮϬϭϳ͗Ϯϭ͘ϬƐĞŶƉĞƌƐŚĂƌĞͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ
ĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϳ͕ƉĂŝĚŽŶϮϬĞĐĞŵďĞƌϮϬϭϳ 1,156 ϭ͕ϯϵϱ
/ŶƚĞƌŝŵĚŝǀŝĚĞŶĚŽĨϮ͘ϬƐĞŶƉĞƌƐŚĂƌĞ;ϮϬϭϳ͗ϲ͘ϬƐĞŶƉĞƌƐŚĂƌĞͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ
ĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͕ƉĂŝĚŽŶϰDĂLJϮϬϭϴ 136 ϰϬϴ
1,292 ϭ͕ϴϬϯ

ŝǀŝĚĞŶĚƐƉĂŝĚďLJǁĂLJŽĨ͗
Ͳ ŝƐƐƵĂŶĐĞŽĨƐŚĂƌĞƐƉƵƌƐƵĂŶƚƚŽƚŚĞŝǀŝĚĞŶĚZĞŝŶǀĞƐƚŵĞŶƚWůĂŶ – ϭ͕ϭϴϴ
- cash 1,292 ϲϭϱ
1,292 ϭ͕ϴϬϯ

 dŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŚĂƐĚĞĐůĂƌĞĚĂƐĞĐŽŶĚŝŶƚĞƌŝŵĚŝǀŝĚĞŶĚŽĨϰƐĞŶƉĞƌŽƌĚŝŶĂƌLJƐŚĂƌĞ;ĂŵŽƵŶƟŶŐƚŽZDϮϳϮŵŝůůŝŽŶͿĂŶĚĂ
ƐƉĞĐŝĂůĚŝǀŝĚĞŶĚŽĨϮƐĞŶƉĞƌŽƌĚŝŶĂƌLJƐŚĂƌĞ;ĂŵŽƵŶƟŶŐƚŽZDϭϯϲŵŝůůŝŽŶͿŝŶƌĞƐƉĞĐƚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͘dŚĞ
ĚŝǀŝĚĞŶĚƐǁŝůůďĞƉĂŝĚŽŶϯϭKĐƚŽďĞƌϮϬϭϴ͘

ANNUAL REPORT 2018 page 189

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Amounts in RM million unless otherwise stated

ϮϬ Kd,ZKDWZ,E^/s/EKDͬΈ>K^^Ή͵'ZKhW

 KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿĂŶĚƚŚĞƚĂdžĞīĞĐƚƐĂƌĞĂŶĂůLJƐĞĚĂƐĨŽůůŽǁƐ͗

ǀĂŝůĂďůĞͲ
Hedging ĨŽƌͲƐĂůĞ
2018 ƌĞƐĞƌǀĞ ƌĞƐĞƌǀĞ
ƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ – –
EĞƚĐŚĂŶŐĞŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐ 26 –
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞůŽƐƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ (1) –
ZĞĐůĂƐƐŝĮĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͗
Ͳ ĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐŽŶƌĞƉĂLJŵĞŶƚŽĨŶĞƚŝŶǀĞƐƚŵĞŶƚƐ – –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐĂƐĂĚũƵƐƚŵĞŶƚƚŽƌĞǀĞŶƵĞĂŶĚ
 ŽƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ (8) –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐƚŽŝŶǀĞŶƚŽƌŝĞƐ (2) –
ĐƚƵĂƌŝĂůŐĂŝŶƐŽŶĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐ – –
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿďĞĨŽƌĞƚĂdž 15 –
dĂdžĂƟŽŶ (4) –
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 11 –
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ 11 (45)
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿĂŌĞƌƚĂdž 22 (45)

2017
ƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ – –
EĞƚĐŚĂŶŐĞŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐ ;ϭϮͿ –
^ŚĂƌĞŽĨŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ ϭ –
ZĞĐůĂƐƐŝĮĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͗
Ͳ ĐƵƌƌĞŶĐLJƚƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ͗
Ͳ ŽŶƌĞƉĂLJŵĞŶƚŽĨŶĞƚŝŶǀĞƐƚŵĞŶƚƐ – –
Ͳ ŽŶĚŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ – –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐĂƐĂĚũƵƐƚŵĞŶƚƚŽƌĞǀĞŶƵĞĂŶĚ
 ŽƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ ϭϵ –
Ͳ ĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĐĂƐŚŇŽǁŚĞĚŐĞƐƚŽŝŶǀĞŶƚŽƌŝĞƐ ϳ –
ĐƚƵĂƌŝĂůůŽƐƐŽŶĚĞĮŶĞĚďĞŶĞĮƚƉĞŶƐŝŽŶƉůĂŶƐ – –
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿďĞĨŽƌĞƚĂdž ϭϱ –
dĂdžĂƟŽŶ ;ϰͿ –
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ϭϭ –
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭϴ ;ϲͿ
dŽƚĂůŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿĂŌĞƌƚĂdž Ϯϵ ;ϲͿ

page 190 SIME DARBY BERHAD

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Amounts in RM million unless otherwise stated

ƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨƚŚĞŽŵƉĂŶLJ
Non-
džĐŚĂŶŐĞ Retained ĐŽŶƚƌŽůůŝŶŐ dĂdž Net
ƌĞƐĞƌǀĞ ƉƌŽĮƚƐ Total ŝŶƚĞƌĞƐƚƐ Total ĞīĞĐƚƐ ŽĨƚĂdž
(710) – (710) (50) (760) – (760)
– – 26 – 26 (8) 18
(42) – (43) – (43) – (43)

(23) – (23) – (23) – (23)

– – (8) – (8) 4 (4)

– – (2) – (2) – (2)
– 6 6 – 6 – 6
(775) 6 (754) (50) (804) (4) (808)
– – (4) – (4)
(775) 6 (758) (50) (808)
(179) – (213) (15) (228)
(954) 6 (971) (65) (1,036)

ϮϴϬ – ϮϴϬ ϯϬ ϯϭϬ – ϯϭϬ

– – ;ϭϮͿ – ;ϭϮͿ Ϯ ;ϭϬͿ
Ϯϵ – ϯϬ – ϯϬ – ϯϬ

ϭϵ – ϭϵ – ϭϵ – ϭϵ
ϱ – ϱ – ϱ – ϱ

– – ϭϵ – ϭϵ ;ϰͿ ϭϱ
– – ϳ – ϳ ;ϮͿ ϱ
– ;ϮͿ ;ϮͿ ;ϭͿ ;ϯͿ – ;ϯͿ
ϯϯϯ ;ϮͿ ϯϰϲ Ϯϵ ϯϳϱ ;ϰͿ ϯϳϭ
– – ;ϰͿ – ;ϰͿ
ϯϯϯ ;ϮͿ ϯϰϮ Ϯϵ ϯϳϭ
ϯϲϵ ϱ ϯϴϲ ϮϬ ϰϬϲ
ϳϬϮ ϯ ϳϮϴ ϰϵ ϳϳϳ

ANNUAL REPORT 2018 page 191

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Ϯϭ WZKWZdz͕W>EdEYh/WDEd͵'ZKhW

&ƌĞĞŚŽůĚ >ĞĂƐĞŚŽůĚ
2018 land land
ƚϭ:ƵůLJϮϬϭϳ 338 404
ĚĚŝƟŽŶƐ 26 13
Disposals (1) –
tƌŝƚĞŽīƐ – –
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – –
ZĞĐůĂƐƐŝĮĐĂƟŽŶ – –
ĞƉƌĞĐŝĂƟŽŶ – (7)
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (40) (14)
dƌĂŶƐĨĞƌƌĞĚ;ƚŽͿͬĨƌŽŵ͗
Ͳ ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ (1) –
- inventories – –
Ͳ ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ 78 (1)
ZĞĐůĂƐƐŝĮĐĂƟŽŶĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭ
– –
ƚϯϬ:ƵŶĞϮϬϭϴ 400 395

ŽƐƚ 400 459

ĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶ – (60)
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – (4)
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 400 395

ϭ
 ƌŝƐŝŶŐĨƌŽŵƌĞŵĞĂƐƵƌĞŵĞŶƚŽĨƚŚĞĐĂƌƌLJŝŶŐǀĂůƵĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚƵŶĚĞƌĐŽŶƐƚƌƵĐƟŽŶďLJƚŚĞWƌŽƉĞƌƚLJŝǀŝƐŝŽŶ
ĨŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞƉƵƌĞͲƉůĂLJĞdžĞƌĐŝƐĞ

page 192 SIME DARBY BERHAD

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sĞŚŝĐůĞƐ͕ Capital
Plant and Rental equipment ǁŽƌŬŝŶ
ƵŝůĚŝŶŐƐ ŵĂĐŚŝŶĞƌLJ ĂƐƐĞƚƐ ĂŶĚĮdžƚƵƌĞƐ ƉƌŽŐƌĞƐƐ Total
2,440 534 946 494 468 5,624
28 111 682 118 177 1,155
(17) (2) – (34) (8) (62)
(1) – – (2) – (3)
(4) (1) – – – (5)
23 13 5 10 (51) –
(105) (90) (212) (125) – (539)
(140) (26) (37) (23) (8) (288)

– – – – – (1)
– – (369) – – (369)
233 (108) – (3) – 199
64 – – – (2) 62
2,521 431 1,015 435 576 5,773

3,411 1,061 1,425 1,366 576 8,698

(850) (621) (410) (925) – (2,866)
(40) (9) – (6) – (59)
2,521 431 1,015 435 576 5,773

ANNUAL REPORT 2018 page 193

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϭ WZKWZdz͕W>EdEYh/WDEd͵'ZKhWΈKEd/EhΉ

&ƌĞĞŚŽůĚ >ĞĂƐĞŚŽůĚ
2017 land land
ƚϭ:ƵůLJϮϬϭϲ Ϯ͕ϴϲϳ ϭ͕ϵϬϯ
ĐƋƵŝƐŝƟŽŶŽĨďƵƐŝŶĞƐƐĞƐ ϲϵ –
ŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ – –
ĚĚŝƟŽŶƐ – Ϯϲ
Disposals ;ϵͿ ;ϭϲͿ
tƌŝƚĞŽīƐ – –
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – ;ϲͿ
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – ϵ
ZĞĐůĂƐƐŝĮĐĂƟŽŶ – ;ϯϰͿ
ĞƉƌĞĐŝĂƟŽŶ – ;ϯϰͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ϭϯ ϱϯ
dƌĂŶƐĨĞƌƌĞĚ;ƚŽͿͬĨƌŽŵ͗
Ͳ ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ ;ϮͿ –
Ͳ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ – –
- inventories – –
Ͳ ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;Ϯ͕ϲϬϬͿ ;ϭ͕ϰϵϳͿ
ƚϯϬ:ƵŶĞϮϬϭϳ ϯϯϴ ϰϬϰ

ŽƐƚ ϯϯϴ ϰϱϴ

ĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶ – ;ϰϵͿ
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – ;ϱͿ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ϯϯϴ ϰϬϰ

page 194 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

sĞŚŝĐůĞƐ͕ Capital
Bearer Plant and Rental equipment ǁŽƌŬŝŶ
ƵŝůĚŝŶŐƐ ƉůĂŶƚƐ ŵĂĐŚŝŶĞƌLJ ĂƐƐĞƚƐ ĂŶĚĮdžƚƵƌĞƐ ƉƌŽŐƌĞƐƐ Total
ϲ͕ϯϱϮ ϰ͕ϵϯϮ ϯ͕Ϭϯϯ ϴϱϮ ϭ͕Ϭϱϰ ϯ͕ϰϲϯ Ϯϰ͕ϰϱϲ
ϴ ϳ ϭϳ – ϭ Ϯ ϭϬϰ
– – ;ϭϲͿ – – ;ϭϲϭͿ ;ϭϳϳͿ
ϭϭϳ – ϭϰϭ ϱϮϮ ϲϯ ϭ͕ϳϲϮ Ϯ͕ϲϯϭ
;ϭϯͿ ;ϲͿ ;ϰϰͿ – ;ϮϯͿ ;ϮͿ ;ϭϭϯͿ
;ϵͿ ;ϲϰͿ ;ϰͿ ;ϭͿ ;ϰͿ ;ϯͿ ;ϴϱͿ
;ϭϴͿ ;ϭϵϮͿ – ;ϱͿ – – ;ϮϮϭͿ
ϵ – – – – – ϭϴ
ϯϴϱ ϵϮϳ ϭϯϯ ;ϱϰͿ ϭϬϰ ;ϭ͕ϰϲϭͿ –
;ϯϰϱͿ ;ϱϬϰͿ ;ϯϵϴͿ ;ϮϬϭͿ ;ϮϴϯͿ – ;ϭ͕ϳϲϱͿ
ϭϱϰ ϰϲ ϳϲ ϴϳ ϯϳ ϭϭϯ ϱϳϵ

– – – – – – ;ϮͿ
– – – – – ϲϬ ϲϬ
– – – ;ϮϱϰͿ ;ϱͿ Ϯϴ ;ϮϯϭͿ
;ϰ͕ϮϬϬͿ ;ϱ͕ϭϰϲͿ ;Ϯ͕ϰϬϰͿ – ;ϰϱϬͿ ;ϯ͕ϯϯϯͿ ;ϭϵ͕ϲϯϬͿ
Ϯ͕ϰϰϬ – ϱϯϰ ϵϰϲ ϰϵϰ ϰϲϴ ϱ͕ϲϮϰ

ϯ͕Ϯϴϲ – ϭ͕ϭϴϴ ϭ͕ϯϳϭ ϭ͕ϱϬϵ ϰϲϴ ϴ͕ϲϭϴ

;ϴϬϳͿ – ;ϲϰϰͿ ;ϰϮϮͿ ;ϭ͕ϬϬϳͿ – ;Ϯ͕ϵϮϵͿ
;ϯϵͿ – ;ϭϬͿ ;ϯͿ ;ϴͿ – ;ϲϱͿ
Ϯ͕ϰϰϬ – ϱϯϰ ϵϰϲ ϰϵϰ ϰϲϴ ϱ͕ϲϮϰ

ANNUAL REPORT 2018 page 195

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϭ WZKWZdz͕W>EdEYh/WDEd͵'ZKhWΈKEd/EhΉ

Ă͘ ĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐ

 /ŶĐůƵĚĞĚŝŶĂĚĚŝƟŽŶƐƚŽƚŚĞĐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐŝƐŝŶƚĞƌĞƐƚĞdžƉĞŶƐĞĐĂƉŝƚĂůŝƐĞĚŽĨZDϭϲŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϳϰŵŝůůŝŽŶͿ͘
EŽĚĞƉƌĞĐŝĂƟŽŶǁĂƐĐĂƉŝƚĂůŝƐĞĚŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗ZDϮϱŵŝůůŝŽŶͿ͘

ď͘ ƐƐĞƚƐƉůĞĚŐĞĚĂƐƐĞĐƵƌŝƚLJ

 WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚǁŝƚŚĂƚŽƚĂůĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨZDϭϭϵŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭϮϴŵŝůůŝŽŶͿǁĞƌĞƉůĞĚŐĞĚĂƐ
ƐĞĐƵƌŝƚLJĨŽƌďŽƌƌŽǁŝŶŐƐ;ƐĞĞEŽƚĞϰϮͿ͘

Đ͘ /ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ĐĞƌƚĂŝŶƐƵďƐŝĚŝĂƌŝĞƐĐĂƌƌŝĞĚŽƵƚĂƌĞǀŝĞǁŽĨƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨŝƚƐƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚ
ĞƋƵŝƉŵĞŶƚ͘dŚĞƌĞǀŝĞǁůĞĚƚŽƚŚĞƌĞĐŽŐŶŝƟŽŶŽĨĂŶĞƚŝŵƉĂŝƌŵĞŶƚŽĨZDϱŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϮϭŵŝůůŝŽŶ͕ǁŚŝĐŚŝŶĐůƵĚĞĚZDϮϬϮ
ŵŝůůŝŽŶƌĞĐŽŐŶŝƐĞĚŽŶƚŚĞŽŝůƉĂůŵĞƐƚĂƚĞƐŝŶ>ŝďĞƌŝĂĨŽůůŽǁŝŶŐĂŶĂƐƐĞƐƐŵĞŶƚƚŽĚĞƚĞƌŵŝŶĞƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨƚŚĞƉƌŽƉĞƌƚLJ͕
ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚŝŶ>ŝďĞƌŝĂĂƐĂƌĞƐƵůƚŽĨĐŽŶƟŶƵĞĚůŽƐƐĞƐďLJƚŚĞ>ŝďĞƌŝĂŶŽƉĞƌĂƟŽŶƐͿ͘

Ě͘ ZĞĐŽŶĐŝůŝĂƟŽŶƚŽƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚŇŽǁƐ

 ZĞĐŽŶĐŝůŝĂƟŽŶƚŽƚŚĞĐĂƐŚŇŽǁĨŽƌƉƵƌĐŚĂƐĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚŝƐĂƐĨŽůůŽǁƐ͗

2018 2017
ĚĚŝƟŽŶƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 1,155 Ϯ͕ϲϯϭ
ĚĚͬ;ůĞƐƐͿ͗
EĞƚĐŚĂŶŐĞƐŝŶƉĂLJĂďůĞƐĨŽƌƉƵƌĐŚĂƐĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 10 ϯϲ
ĚĚŝƟŽŶƐƚŽƌĞŶƚĂůĂƐƐĞƚƐ͕ŝŶĐůƵĚĞĚĂƐĐŚĂŶŐĞƐŝŶǁŽƌŬŝŶŐĐĂƉŝƚĂůŝŶƚŚĞ
ƐƚĂƚĞŵĞŶƚƐŽĨĐĂƐŚŇŽǁƐ (682) ;ϱϮϮͿ
/ŶƚĞƌĞƐƚĞdžƉĞŶƐĞĐĂƉŝƚĂůŝƐĞĚŝŶĐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐ (16) ;ϳϰͿ
ĞƉƌĞĐŝĂƟŽŶĐĂƉŝƚĂůŝƐĞĚŝŶĐĂƉŝƚĂůǁŽƌŬŝŶƉƌŽŐƌĞƐƐ – ;ϮϱͿ
dŽƚĂůĐĂƐŚƉĂLJŵĞŶƚƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 467 Ϯ͕Ϭϰϲ

dŽƚĂůĐĂƐŚƉĂLJŵĞŶƚƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďLJ͗
Ͳ ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 467 ϯϵϰ
Ͳ ĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ – ϭ͕ϲϱϮ
467 Ϯ͕Ϭϰϲ

page 196 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϮϮ WZW/>^ZEd>^͵'ZKhW

 dŚĞƉƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐĂƌĞƉĂLJŵĞŶƚƐĨŽƌƌŝŐŚƚƐŝŶƌĞƐƉĞĐƚŽĨƚŚĞĨŽůůŽǁŝŶŐ͗

2018 2017
>ĂŶĚͲƵƐĞ ^ĞĂͲƵƐĞ >ĂŶĚͲƵƐĞ ^ĞĂͲƵƐĞ
ƌŝŐŚƚƐ ƌŝŐŚƚƐ Total ƌŝŐŚƚƐ ƌŝŐŚƚƐ Total
ƚϭ:ƵůLJ 234 125 359 ϴϲϵ ϭϮϯ ϵϵϮ
ŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ – – – – ;ϭϯͿ ;ϭϯͿ
ĚĚŝƟŽŶƐ 1 – 1 Ϯ ϭϯ ϭϱ
Disposals (6) – (6) – – –
ZĞĐůĂƐƐŝĮĐĂƟŽŶ ϭ
1 (1) – – – –
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – – – ;ϮͿ – ;ϮͿ
ŵŽƌƟƐĂƟŽŶ (5) (3) (8) ;ϱϬͿ ;ϯͿ ;ϱϯͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (7) (5) (12) ϰϯ ϱ ϰϴ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ (34) – (34) ;ϲϮϴͿ – ;ϲϮϴͿ
ƚϯϬ:ƵŶĞ 184 116 300 Ϯϯϰ ϭϮϱ ϯϱϵ

ŽƐƚ 244 135 379 ϯϬϲ ϭϰϭ ϰϰϳ

ĐĐƵŵƵůĂƚĞĚĂŵŽƌƟƐĂƟŽŶ (58) (19) (77) ;ϳϬͿ ;ϭϲͿ ;ϴϲͿ
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ (2) – (2) ;ϮͿ – ;ϮͿ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞ
ĮŶĂŶĐŝĂůLJĞĂƌ 184 116 300 Ϯϯϰ ϭϮϱ ϯϱϵ

ϭ
 /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚůŽĐĂůƌĞŐƵůĂƟŽŶƐ͕ƚŚĞƐĞĂͲƵƐĞƌŝŐŚƚƐĂƌĞĂůůŽǁĞĚƚŽďĞĐŽŶǀĞƌƚĞĚƚŽůĂŶĚͲƵƐĞƌŝŐŚƚƐǁŚĞŶƚŚĞůĂŶĚƌĞĐůĂŵĂƟŽŶ
ǁŽƌŬƐŽŶƚŚĞƌĞůĞǀĂŶƚƐĞĂĂƌĞĂŚĂƐďĞĞŶĐŽŵƉůĞƚĞĚĂŶĚƚŚĞƌĞůĂƚĞĚĐŽŶǀĞƌƐŝŽŶŚĂƐďĞĞŶĂƉƉƌŽǀĞĚďLJƚŚĞƌĞůĞǀĂŶƚŐŽǀĞƌŶŵĞŶƚ
ĂƵƚŚŽƌŝƟĞƐ

ANNUAL REPORT 2018 page 197

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϯ /Es^dDEdWZKWZd/^͵'ZKhW

&ƌĞĞŚŽůĚ >ĞĂƐĞŚŽůĚ ĂƉŝƚĂůǁŽƌŬ

2018 land land ƵŝůĚŝŶŐƐ ŝŶƉƌŽŐƌĞƐƐ Total
ƚϭ:ƵůLJϮϬϭϳ 2 29 104 182 317
ĞƉƌĞĐŝĂƟŽŶ – – 1
(3) – (3)
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ – – (2) – (2)
dƌĂŶƐĨĞƌƌĞĚĨƌŽŵƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 1 – – – 1
ZĞĐůĂƐƐŝĮĐĂƟŽŶĨƌŽŵĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐϮ – – – (24) (24)
ƚϯϬ:ƵŶĞϮϬϭϴ 3 29 99 158 289

ŽƐƚ 3 38 137 158 336

ĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶ – (9) (34) – (43)
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – – (4) – (4)
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 3 29 99 158 289

ϭ
 >ĞƐƐƚŚĂŶZDϭŵŝůůŝŽŶ
Ϯ
 ƌŝƐŝŶŐĨƌŽŵƌĞŵĞĂƐƵƌĞŵĞŶƚŽĨƚŚĞĐĂƌƌLJŝŶŐǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐƵŶĚĞƌĐŽŶƐƚƌƵĐƟŽŶďLJƚŚĞWƌŽƉĞƌƚLJŝǀŝƐŝŽŶĨŽůůŽǁŝŶŐ
ƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞƉƵƌĞͲƉůĂLJĞdžĞƌĐŝƐĞ

page 198 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϯ /Es^dDEdWZKWZd/^͵'ZKhWΈKEd/EhΉ

&ƌĞĞŚŽůĚ >ĞĂƐĞŚŽůĚ ĂƉŝƚĂůǁŽƌŬ

2017 land land ƵŝůĚŝŶŐƐ ŝŶƉƌŽŐƌĞƐƐ Total
ƚϭ:ƵůLJϮϬϭϲ ϯϯ ϲϭ ϯϬϭ – ϯϵϱ
ŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ – ;ϮϮͿ ;ϯϴͿ – ;ϲϬͿ
ĚĚŝƟŽŶƐ – – Ϯϵ ϴϯ ϭϭϮ
Disposals – – ;ϮͿ – ;ϮͿ
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – – ;ϱͿ – ;ϱͿ
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚ – – ϴ – ϴ
ĞƉƌĞĐŝĂƟŽŶ – ;ϭͿ ;ϴͿ – ;ϵͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ϭ – ϱ – ϲ
dƌĂŶƐĨĞƌƌĞĚĨƌŽŵͬ;ƚŽͿ͗
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ Ϯ – – – Ϯ
Ͳ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂƐƐĞƚƐĂŶĚŝŶǀĞŶƚŽƌŝĞƐ ϭϴ – ϲϭ Ϯϲϭ ϯϰϬ
Ͳ ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;ϱϮͿ ;ϵͿ ;ϮϰϳͿ ;ϭϲϮͿ ;ϰϳϬͿ
ƚϯϬ:ƵŶĞϮϬϭϳ Ϯ Ϯϵ ϭϬϰ ϭϴϮ ϯϭϳ

ŽƐƚ Ϯ ϯϴ ϭϯϵ ϭϴϮ ϯϲϭ

ĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƟŽŶ – ;ϵͿ ;ϯϭͿ – ;ϰϬͿ
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ – – ;ϰͿ – ;ϰͿ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ Ϯ Ϯϵ ϭϬϰ ϭϴϮ ϯϭϳ

 dŚĞĨĂŝƌǀĂůƵĞŽĨŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐĂƐĂƚϯϬ:ƵŶĞϮϬϭϴǁĂƐZDϮ͕ϵϴϲŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϰϮϭŵŝůůŝŽŶͿ͘dŚĞĨĂŝƌǀĂůƵĞǁĂƐĂƌƌŝǀĞĚ
ĂƚĂŌĞƌƚĂŬŝŶŐŝŶƚŽĐŽŶƐŝĚĞƌĂƟŽŶƚŚĞǀĂůƵĂƟŽŶƉĞƌĨŽƌŵĞĚďLJĞdžƚĞƌŶĂůƉƌŽĨĞƐƐŝŽŶĂůĮƌŵƐŽĨƐƵƌǀĞLJŽƌƐĂŶĚǀĂůƵĞƌƐ͘dŚĞĨĂŝƌǀĂůƵĞŝƐ
ĐĂƚĞŐŽƌŝƐĞĚĂƐ>ĞǀĞůϮŝŶƚŚĞĨĂŝƌǀĂůƵĞŚŝĞƌĂƌĐŚLJĂƐƚŚĞǀĂůƵĂƟŽŶ͕ǁŚŝĐŚǁĂƐƉĞƌĨŽƌŵĞĚƵƐŝŶŐĐŽŵƉĂƌĂďůĞĂŶĚŝŶǀĞƐƚŵĞŶƚďĂƐŝƐ͕
ǁĂƐďĂƐĞĚŽŶŽďƐĞƌǀĂďůĞǀĂůƵĂƟŽŶŝŶƉƵƚƐ͘

 ZĞŶƚĂůŝŶĐŽŵĞŐĞŶĞƌĂƚĞĚĨƌŽŵĂŶĚĚŝƌĞĐƚŽƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐŝŶĐƵƌƌĞĚŽŶŝŶĐŽŵĞŐĞŶĞƌĂƟŶŐŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ZĞŶƚĂůŝŶĐŽŵĞ 14 ϵ
ŝƌĞĐƚŽƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐ (1) ;ϭͿ

ANNUAL REPORT 2018 page 199

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϰ ^h^//Z/^͵KDWEz

 dŚĞŽŵƉĂŶLJ͛ƐĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶƚŚĞƐƵďƐŝĚŝĂƌŝĞƐ͕ƚŚĞŝƌƌĞƐƉĞĐƟǀĞƉƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐĂŶĚĐŽƵŶƚƌŝĞƐŽĨŝŶĐŽƌƉŽƌĂƟŽŶĂƌĞĚŝƐĐůŽƐĞĚŝŶ
EŽƚĞϱϲ͘

2018 2017
hŶƋƵŽƚĞĚƐŚĂƌĞƐĂƚĐŽƐƚ 2,734 Ϯ͕ϳϯϰ
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚ (31) –
ŽŶƚƌŝďƵƟŽŶƚŽĂƐƵďƐŝĚŝĂƌLJ 887 ϴϴϳ
3,590 ϯ͕ϲϮϭ

 ŽŶƚƌŝďƵƟŽŶƚŽĂƐƵďƐŝĚŝĂƌLJƌĞĨĞƌƐƚŽĂŵŽƵŶƚƐĨŽƌǁŚŝĐŚƚŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚĞdžƉĞĐƚƌĞƉĂLJŵĞŶƚŝŶƚŚĞĨŽƌĞƐĞĞĂďůĞĨƵƚƵƌĞĂŶĚŝƐ
ĐŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨƚŚĞŽŵƉĂŶLJ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶƚŚĞƐƵďƐŝĚŝĂƌLJ͘

Ϯϱ DKhEd^h&ZKD^h^//Z/^͵KDWEz

2018 2017
EŽŶͲĐƵƌƌĞŶƚ;ŝŶƚĞƌĞƐƚďĞĂƌŝŶŐͿ – ϳϬϬ
ƵƌƌĞŶƚ;ŶŽŶͲŝŶƚĞƌĞƐƚďĞĂƌŝŶŐͿ 6,034 ϴ͕ϵϱϱ
6,034 ϵ͕ϲϱϱ

% %
/ŶƚĞƌĞƐƚƌĂƚĞƐƉĞƌĂŶŶƵŵŽŶŝŶƚĞƌĞƐƚďĞĂƌŝŶŐĂŵŽƵŶƚƐ͗
ŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐʹŶŽŶͲĐƵƌƌĞŶƚ – ϰ͘ϭϵ

 dŚĞĂŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐĂƌĞƵŶƐĞĐƵƌĞĚ͘dŚĞĂŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐĐůĂƐƐŝĮĞĚƵŶĚĞƌŶŽŶͲĐƵƌƌĞŶƚĂƌĞŶŽƚĞdžƉĞĐƚĞĚ
ƚŽďĞƌĞĐĂůůĞĚǁŝƚŚŝŶƚŚĞŶĞdžƚƚǁĞůǀĞŵŽŶƚŚƐ͘

page 200 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϲ /Es^dDEd^͵'ZKhW

Loan to a Unquoted
2018 joint venture ƐŚĂƌĞƐ KƚŚĞƌƐ Total
ƚϭ:ƵůLJϮϬϭϳ 75 21 4 100
ĚĚŝƟŽŶƐ 27 – – 27
ZĞĐůĂƐƐŝĮĐĂƟŽŶĨƌŽŵƌĞĐĞŝǀĂďůĞƐ – – 1 1
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ (9) – – (9)
/ŶƚĞƌĞƐƚĂĐĐƌƵĞĚ 16 – – 16
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (11) – – (11)
ƚϯϬ:ƵŶĞϮϬϭϴ 98 21 5 124

2017
ƚϭ:ƵůLJϮϬϭϲ Ϯϯ ϭϬϰ ϯϭ ϭϱϴ
ĚĚŝƟŽŶƐ ϱϬ – – ϱϬ
Disposals – – ;ϭϯͿ ;ϭϯͿ
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ ;ϵͿ – – ;ϵͿ
/ŶƚĞƌĞƐƚĂĐĐƌƵĞĚ ϴ – – ϴ
EĞƚĐŚĂŶŐĞŝŶĨĂŝƌǀĂůƵĞĐŚĂƌŐĞĚƚŽŽƚŚĞƌ
ĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ – – ;ϰͿ ;ϰͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ϯ Ϯ – ϱ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – ;ϴϱͿ ;ϭϬͿ ;ϵϱͿ
ƚϯϬ:ƵŶĞϮϬϭϳ ϳϱ Ϯϭ ϰ ϭϬϬ

 dŚĞůŽĂŶƚŽĂũŽŝŶƚǀĞŶƚƵƌĞŚĂƐŶŽĮdžĞĚĂŶĚĚĞƚĞƌŵŝŶĂďůĞƉĂLJŵĞŶƚƚĞƌŵƐĂŶĚďĞĂƌƐŝŶƚĞƌĞƐƚĂƚϭϱй;ϮϬϭϳ͗ϭϱйͿƉĞƌĂŶŶƵŵ͘&Ăŝƌ
ǀĂůƵĞŝƐĚĞƚĞƌŵŝŶĞĚƉƌŝŵĂƌŝůLJďĂƐĞĚŽŶƚŚĞŝŶĐŽŵĞĂƉƉƌŽĂĐŚƵƐŝŶŐƵŶŽďƐĞƌǀĂďůĞŝŶƉƵƚƐ͘hŶĚĞƌƚŚĞŝŶĐŽŵĞĂƉƉƌŽĂĐŚ͕ƚŚĞĨĂŝƌǀĂůƵĞŝƐ
ĚĞƌŝǀĞĚďĂƐĞĚŽŶƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞƐƉĞĐŝĮĞĚǁŝƚŚŝŶƚŚĞůŽĂŶĂŐƌĞĞŵĞŶƚ͘

ANNUAL REPORT 2018 page 201

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϳ /EdE'/>^^d^͵'ZKhW

2018 Goodwill
ƚϭ:ƵůLJϮϬϭϳ 136
ĐƋƵŝƐŝƟŽŶŽĨĂďƵƐŝŶĞƐƐ΀EŽƚĞϰϲ;ĂͿ;ŝͿ΁ 2
ĚĚŝƟŽŶƐ –
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ –
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ –
ŵŽƌƟƐĂƟŽŶ –
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (12)
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ –
ƚϯϬ:ƵŶĞϮϬϭϴ 126

ŽƐƚ 292
ĐĐƵŵƵůĂƚĞĚĂŵŽƌƟƐĂƟŽŶ –
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ (166)
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 126

2017 Goodwill
ƚϭ:ƵůLJϮϬϭϲ Ϯ͕ϯϵϲ
ĐƋƵŝƐŝƟŽŶŽĨďƵƐŝŶĞƐƐĞƐ ϯ
ĚĚŝƟŽŶƐ –
tƌŝƚĞŽīƐ –
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ ;ϮϬϯͿ
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ –
ŵŽƌƟƐĂƟŽŶ –
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ϭϳϮ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;Ϯ͕ϮϯϮͿ
ƚϯϬ:ƵŶĞϮϬϭϳ ϭϯϲ

ŽƐƚ ϯϯϴ
ĐĐƵŵƵůĂƚĞĚĂŵŽƌƟƐĂƟŽŶ –
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ ;ϮϬϮͿ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ϭϯϲ

ϭ
 /ŶƚĞƌŶĂůůLJŐĞŶĞƌĂƚĞĚĂƐƐĞƚƐĐŽŶƐŝƐƚŽĨĐŽŵƉƵƚĞƌƐŽŌǁĂƌĞĂŶĚĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ

page 202 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ĐƋƵŝƌĞĚ
ŝƐƚƌŝďƵƟŽŶͬ dƌĂĚĞŵĂƌŬƐ Internally Total
ĚĞĂůĞƌƐŚŝƉ Computer and generated ŝŶƚĂŶŐŝďůĞ
ƌŝŐŚƚƐ ƐŽŌǁĂƌĞ ŽƚŚĞƌƐ Total ĂƐƐĞƚƐ1 ĂƐƐĞƚƐ
921 21 22 1,100 584 1,684
– – – 2 – 2
– 4 2 6 16 22
(61) – (11) (72) – (72)
– – 2 2 – 2
– (9) (3) (12) (59) (71)
(84) (2) (2) (100) (51) (151)
– (1) – (1) – (1)
776 13 10 925 490 1,415

804 77 61 1,234 579 1,813

– (63) (36) (99) (86) (185)
(28) (1) (15) (210) (3) (213)
776 13 10 925 490 1,415

ĐƋƵŝƌĞĚ
ŝƐƚƌŝďƵƟŽŶͬ dƌĂĚĞŵĂƌŬƐ Internally Total
ĚĞĂůĞƌƐŚŝƉ ^ŵĂůůŚŽůĚĞƌ Computer and generated ŝŶƚĂŶŐŝďůĞ
ƌŝŐŚƚƐ ƌĞůĂƟŽŶƐŚŝƉ ƐŽŌǁĂƌĞ ŽƚŚĞƌƐ Total ĂƐƐĞƚƐ1 ĂƐƐĞƚƐ
ϴϳϬ ϱϵϬ ϰϴ ϴϰ ϯ͕ϵϴϴ ϱϱϲ ϰ͕ϱϰϰ
– – – – ϯ – ϯ
– – Ϯϴ ϭϮ ϰϬ ϵϯ ϭϯϯ
– – – ;ϮͿ ;ϮͿ – ;ϮͿ
;ϯϭͿ – – – ;ϮϯϰͿ – ;ϮϯϰͿ
– – – ϭ ϭ – ϭ
– ;ϭϲͿ ;ϮϵͿ ;ϭϬͿ ;ϱϱͿ ;ϮϭͿ ;ϳϲͿ
ϴϮ ϰϰ ϭϭ ϲ ϯϭϱ ϰϱ ϯϲϬ
– ;ϲϭϴͿ ;ϯϳͿ ;ϲϵͿ ;Ϯ͕ϵϱϲͿ ;ϴϵͿ ;ϯ͕ϬϰϱͿ
ϵϮϭ – Ϯϭ ϮϮ ϭ͕ϭϬϬ ϱϴϰ ϭ͕ϲϴϰ

ϵϱϮ – ϴϰ ϲϮ ϭ͕ϰϯϲ ϲϭϴ Ϯ͕Ϭϱϰ

– – ;ϲϮͿ ;ϯϲͿ ;ϵϴͿ ;ϯϭͿ ;ϭϮϵͿ
;ϯϭͿ – ;ϭͿ ;ϰͿ ;ϮϯϴͿ ;ϯͿ ;ϮϰϭͿ
ϵϮϭ – Ϯϭ ϮϮ ϭ͕ϭϬϬ ϱϴϰ ϭ͕ϲϴϰ

ANNUAL REPORT 2018 page 203

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϳ /EdE'/>^^d^͵'ZKhWΈKEd/EhΉ

Ă͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐƵŶĚĞƌĚĞǀĞůŽƉŵĞŶƚ

 EŽŝŶƚĞƌĞƐƚĞdžƉĞŶƐĞǁĂƐĐĂƉŝƚĂůŝƐĞĚŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗ZDϭϭŵŝůůŝŽŶͿ͘

ď͘ DĂƚĞƌŝĂůŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐ

 /ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐĂŶĚƚŚĞŝƌĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐǁŚŝĐŚĂƌĞŵĂƚĞƌŝĂůƚŽƚŚĞ'ƌŽƵƉĂƌĞĂƐĨŽůůŽǁƐ͗

Carrying amount
Segment /ŶǀĞƐƚŵĞŶƚ /ŶƚĂŶŐŝďůĞĂƐƐĞƚ 2018 2017
/ŶĚƵƐƚƌŝĂů ƵĐLJƌƵƐďƵƐŝŶĞƐƐ 'ŽŽĚǁŝůů 40 ϲϵ
ŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐ 685 ϳϲϬ

EĞǁĞŶƚĞƌƉƌŝƐĞƌĞƐŽƵƌĐĞƉůĂŶŶŝŶŐƐLJƐƚĞŵ ŽŵƉƵƚĞƌƐŽŌǁĂƌĞ 488 ϱϴϭ

DŽƚŽƌƐ Australia 'ŽŽĚǁŝůů 24 Ϯϲ

ĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ 91 ϭϬϬ

sŝĞƚŶĂŵ ŝƐƚƌŝďƵƟŽŶͬĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ –1 ϲϭ

ϭ
 dŚĞĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐŝŶsŝĞƚŶĂŵŚĂƐďĞĞŶĨƵůůLJŝŵƉĂŝƌĞĚĂŶĚǁƌŝƩĞŶŽīŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴĂƐƚŚĞ
'ƌŽƵƉŝƐŶŽůŽŶŐĞƌƚŚĞĚŝƐƚƌŝďƵƚŽƌŽĨDtĂŶĚD/E/ǀĞŚŝĐůĞƐŝŶsŝĞƚŶĂŵ

'ŽŽĚǁŝůůĂŶĚĚŝƐƚƌŝďƵƟŽŶͬĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ
 dŚĞŐŽŽĚǁŝůůĂŶĚƚŚĞĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐĨŽƌƵĐLJƌƵƐƉƌŽĚƵĐƚƐŝŶƚŚĞEŽƌƚŚĞƌŶdĞƌƌŝƚŽƌLJĂŶĚYƵĞĞŶƐůĂŶĚŝŶƵƐƚƌĂůŝĂ͕WĂƉƵĂ
EĞǁ'ƵŝŶĞĂĂŶĚEĞǁĂůĞĚŽŶŝĂ;ƵƐƚƌĂůĂƐŝĂͿǁĞƌĞĂĐƋƵŝƌĞĚďLJƚŚĞ/ŶĚƵƐƚƌŝĂůĚŝǀŝƐŝŽŶŝŶĞĐĞŵďĞƌϮϬϭϭ͘dŚĞĂĐƋƵŝƐŝƟŽŶĂůƐŽ
ĐŽŶĨĞƌƌĞĚƚŚĞƌŝŐŚƚƐƚŽƐĞůůĂŶĚƐĞƌǀŝĐĞƚŚĞƵĐLJƌƵƐƉƌŽĚƵĐƚůŝŶĞƚŽĂůůŽĨƚŚĞ/ŶĚƵƐƚƌŝĂůĚŝǀŝƐŝŽŶ͛ƐĚĞĂůĞƌƐŚŝƉƐŝŶŽƚŚĞƌƚĞƌƌŝƚŽƌŝĞƐ͘

 dŚĞŐŽŽĚǁŝůůĂŶĚĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐĨŽƌƚŚĞDŽƚŽƌƐƐĞŐŵĞŶƚĂƌĞŝŶƌĞƐƉĞĐƚŽĨƚŚĞDt͕D/E/ĂŶĚ>ĂŵďŽƌŐŚŝŶŝĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐ
ŝŶƌŝƐďĂŶĞ͕ƵƐƚƌĂůŝĂ͘

 dŚĞ'ƌŽƵƉĐĞĂƐĞĚƚŽďĞƚŚĞĚŝƐƚƌŝďƵƚŽƌŽĨDtĂŶĚD/E/ǀĞŚŝĐůĞƐŝŶsŝĞƚŶĂŵĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘

ŽŵƉƵƚĞƌƐŽŌǁĂƌĞ
 dŚĞŝŶƚĞƌŶĂůůLJŐĞŶĞƌĂƚĞĚĐŽŵƉƵƚĞƌƐŽŌǁĂƌĞŝƐŝŶƌĞůĂƟŽŶƚŽƚŚĞŶĞǁĞŶƚĞƌƉƌŝƐĞƌĞƐŽƵƌĐĞƉůĂŶŶŝŶŐƐLJƐƚĞŵǁŚŝĐŚǁĂƐĚĞǀĞůŽƉĞĚ
ĨŽƌƚŚĞ/ŶĚƵƐƚƌŝĂůĚŝǀŝƐŝŽŶĂŶĚŚĂƐďĞĞŶƌŽůůĞĚŽƵƚƚŽĂůůŝƚƐĚĞĂůĞƌƐŚŝƉƐŝŶƚŚĞĚŝīĞƌĞŶƚƌĞŐŝŽŶƐ͘

page 204 SIME DARBY BERHAD

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Ϯϳ /EdE'/>^^d^͵'ZKhWΈKEd/EhΉ

Đ͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚŝŶĚĞĮŶŝƚĞƵƐĞĨƵůůŝǀĞƐ

 'ŽŽĚǁŝůůĂŶĚĚŝƐƚƌŝďƵƟŽŶͬĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐĂƌĞŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚŝŶĚĞĮŶŝƚĞƵƐĞĨƵůůŝǀĞƐ͘dŚĞƐĞĂƐƐĞƚƐĂƌĞŶŽƚĂŵŽƌƟƐĞĚĂƐ
ƚŚĞLJĂƌĞŶŽƚĐŽŶĮŶĞĚƚŽĂƉƌĞĚĞƚĞƌŵŝŶĞĚƐĞƌǀŝĐĞƉĞƌŝŽĚĂŶĚƚŚĞLJĂƌĞĞdžƉĞĐƚĞĚƚŽĐŽŶƚƌŝďƵƚĞƚŽŶĞƚĐĂƐŚŝŶŇŽǁƐŝŶĚĞĮŶŝƚĞůLJ͕
ďƵƚĂƌĞƚĞƐƚĞĚĨŽƌŝŵƉĂŝƌŵĞŶƚĂŶŶƵĂůůLJ͕ĞŝƚŚĞƌŝŶĚŝǀŝĚƵĂůůLJŽƌĂƚƚŚĞĐĂƐŚͲŐĞŶĞƌĂƟŶŐƵŶŝƚ;'hͿůĞǀĞů͘

ƵĐLJƌƵƐŐŽŽĚǁŝůůĂŶĚĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐ
 &ŽƌƉƵƌƉŽƐĞƐŽĨŝŵƉĂŝƌŵĞŶƚƚĞƐƟŶŐ͕ƚŚĞƵĐLJƌƵƐŐŽŽĚǁŝůůĂŶĚĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐǁĞƌĞĂůůŽĐĂƚĞĚƚŽƚŚĞ'hƐǁŝƚŚŝŶƚŚĞ
/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ͘dŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚŽĨƚŚĞ'hƐǁĂƐĚĞƚĞƌŵŝŶĞĚďĂƐĞĚŽŶƚŚĞ'hƐ͛ǀĂůƵĞͲŝŶͲƵƐĞ
ŵŽĚĞů;ϮϬϭϳʹďĂƐĞĚŽŶ'h͛ƐĨĂŝƌǀĂůƵĞůĞƐƐĐŽƐƚƐƚŽƐĞůůͿ͕ĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƚŚĞĚŝƐĐŽƵŶƚĞĚĐĂƐŚŇŽǁƉƌŽũĞĐƟŽŶƐďĂƐĞĚŽŶƚŚĞ
ĮǀĞLJĞĂƌďƵĚŐĞƚƉƌŽũĞĐƟŽŶĨŽƌƚŚĞ/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ͘dŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐƵƐĞĚĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ŝƐĐŽƵŶƚƌĂƚĞƐ;йͿƉĞƌĂŶŶƵŵ 9.0 – 15.0 ϵ͘Ϭʹϭϱ͘ϯ
&ŽƌĞĐĂƐƚŐƌŽǁƚŚƌĂƚĞƐ;йͿ͗
- revenue (3) – >12 ;ϯͿʹхϯϵ
Ͳ ĞĂƌŶŝŶŐƐďĞĨŽƌĞŝŶƚĞƌĞƐƚ͕ƚĂdž͕ĚĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ;/dͿ 0 – >11 ;ϱͿʹхϱϵ
Ͳ ƚĞƌŵŝŶĂů 2.5 – 4.5 Ϭ͘ϯʹϰ͘ϱ

 ĂƐĞĚŽŶŵĂŶĂŐĞŵĞŶƚ͛ƐĂƐƐĞƐƐŵĞŶƚ͕ŶŽŝŵƉĂŝƌŵĞŶƚĐŚĂƌŐĞŝƐƌĞƋƵŝƌĞĚŽŶƚŚĞĐĂƌƌLJŝŶŐǀĂůƵĞŽĨƚŚĞƵĐLJƌƵƐŐŽŽĚǁŝůůĂŶĚ
ĚŝƐƚƌŝďƵƟŽŶƌŝŐŚƚƐĨŽƌƚŚĞ/ŶĚƵƐƚƌŝĂůŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůĂƐŝĂ͘DĂŶĂŐĞŵĞŶƚďĞůŝĞǀĞƐƚŚĂƚƚŚĞƌĞĂƌĞŶŽƌĞĂƐŽŶĂďůĞƉŽƐƐŝďůĞ
ĐŚĂŶŐĞŝŶĂŶLJŬĞLJĂƐƐƵŵƉƟŽŶƚŚĂƚǁŽƵůĚĐĂƵƐĞƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐŽĨƚŚĞ'hƚŽŵĂƚĞƌŝĂůůLJĞdžĐĞĞĚƚŚĞƌĞĐŽǀĞƌĂďůĞ
ĂŵŽƵŶƚƐ͘

ANNUAL REPORT 2018 page 205

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϳ /EdE'/>^^d^͵'ZKhWΈKEd/EhΉ

Đ͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚŝŶĚĞĮŶŝƚĞƵƐĞĨƵůůŝǀĞƐ;ĐŽŶƟŶƵĞĚͿ

ƵƐƚƌĂůŝĂDŽƚŽƌƐŐŽŽĚǁŝůůĂŶĚĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ
dŚĞŬĞLJĂƐƐƵŵƉƟŽŶƐƵƐĞĚĨŽƌƚŚĞŝŵƉĂŝƌŵĞŶƚƚĞƐƟŶŐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ŝƐĐŽƵŶƚƌĂƚĞƐ;йͿƉĞƌĂŶŶƵŵ 13.3 ϭϮ͘Ϭ
&ŽƌĞĐĂƐƚŐƌŽǁƚŚƌĂƚĞƐ;йͿ͗
Ͳ LJĞĂƌϭƚŽϱ 4.0 – 20.0 ϰ͘Ϭʹϭϭ͘Ϭ
Ͳ ƚĞƌŵŝŶĂů 2.5 Ϯ͘ϱ

 ĂƐĞĚŽŶŵĂŶĂŐĞŵĞŶƚ͛ƐĂƐƐĞƐƐŵĞŶƚ͕ŶŽŝŵƉĂŝƌŵĞŶƚĐŚĂƌŐĞŝƐƌĞƋƵŝƌĞĚŽŶŐŽŽĚǁŝůůĂŶĚĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐĨŽƌƚŚĞDŽƚŽƌƐ͛
ŽƉĞƌĂƟŽŶƐŝŶƵƐƚƌĂůŝĂ͘DĂŶĂŐĞŵĞŶƚďĞůŝĞǀĞƐƚŚĂƚƚŚĞƌĞĂƌĞŶŽƌĞĂƐŽŶĂďůĞƉŽƐƐŝďůĞĐŚĂŶŐĞŝŶĂŶLJŬĞLJĂƐƐƵŵƉƟŽŶƚŚĂƚǁŽƵůĚ
ĐĂƵƐĞƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚŚĞĐĂƐŚŐĞŶĞƌĂƟŶŐƵŶŝƚƚŽŵĂƚĞƌŝĂůůLJĞdžĐĞĞĚƚŚĞƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚ͘

sŝĞƚŶĂŵĚŝƐƚƌŝďƵƟŽŶͬĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐ
 ƐƚŚĞ'ƌŽƵƉĐĞĂƐĞĚƚŽďĞƚŚĞĚŝƐƚƌŝďƵƚŽƌŽĨDtĂŶĚD/E/ǀĞŚŝĐůĞƐŝŶsŝĞƚŶĂŵĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉŚĂƐĨƵůůLJ
ŝŵƉĂŝƌĞĚƚŚĞĐĂƌƌLJŝŶŐǀĂůƵĞŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶͬĚĞĂůĞƌƐŚŝƉƌŝŐŚƚƐŝŶsŝĞƚŶĂŵŽĨZDϲϭŵŝůůŝŽŶ͘

Ě͘ /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚĮŶŝƚĞƵƐĞĨƵůůŝǀĞƐ

 /ŶƚĂŶŐŝďůĞĂƐƐĞƚƐǁŝƚŚĮŶŝƚĞƵƐĞĨƵůůŝǀĞƐĂƌĞĂŵŽƌƟƐĞĚŽǀĞƌƚŚĞŝƌƵƐĞĨƵůůŝǀĞƐ͘dŚĞĂŵŽƌƟƐĂƟŽŶĐŚĂƌŐĞĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌŽĨ
ZDϳϭŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϳϲŵŝůůŝŽŶͿǁĂƐƌĞĐŽƌĚĞĚŝŶƉƌŽĮƚŽƌůŽƐƐ͘

page 206 SIME DARBY BERHAD

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Ϯϴ &ZZdy͵'ZKhW

 ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƌĞŽīƐĞƚǁŚĞŶƚŚĞƌĞŝƐĂůĞŐĂůůLJĞŶĨŽƌĐĞĂďůĞƌŝŐŚƚƚŽƐĞƚŽīĐƵƌƌĞŶƚƚĂdžĂƐƐĞƚƐĂŐĂŝŶƐƚĐƵƌƌĞŶƚ
ƚĂdžůŝĂďŝůŝƟĞƐĂŶĚǁŚĞŶƚŚĞĚĞĨĞƌƌĞĚƚĂdžĞƐƌĞůĂƚĞƚŽƚŚĞƐĂŵĞƚĂdžĂƵƚŚŽƌŝƚLJ͘dŚĞĨŽůůŽǁŝŶŐĂŵŽƵŶƚƐ͕ĚĞƚĞƌŵŝŶĞĚĂŌĞƌĂƉƉƌŽƉƌŝĂƚĞ
ŽīƐĞƫŶŐ͕ĂƌĞƐŚŽǁŶŝŶƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶ͗

2018 2017
ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐ 519 ϲϭϭ
ĞĨĞƌƌĞĚƚĂdžůŝĂďŝůŝƟĞƐ (286) ;ϯϯϴͿ
233 Ϯϳϯ

dĂdžůŽƐƐĞƐĨŽƌǁŚŝĐŚƚŚĞƚĂdžĞīĞĐƚƐŚĂǀĞŶŽƚďĞĞŶƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ 2,228 Ϯ͕ϭϮϳ

 ĞĨĞƌƌĞĚƚĂdžŝƐŶŽƚƌĞĐŽŐŶŝƐĞĚŽŶƚŚĞƵŶƌĞŵŝƩĞĚĞĂƌŶŝŶŐƐŽĨŽǀĞƌƐĞĂƐƐƵďƐŝĚŝĂƌŝĞƐĂŶĚũŽŝŶƚǀĞŶƚƵƌĞƐǁŚĞƌĞƚŚĞ'ƌŽƵƉŝƐĂďůĞƚŽ
ĐŽŶƚƌŽůƚŚĞƟŵŝŶŐŽĨƚŚĞƌĞŵŝƩĂŶĐĞĂŶĚŝƚŝƐƉƌŽďĂďůĞƚŚĂƚƚŚĞƌĞǁŝůůďĞŶŽƌĞŵŝƩĂŶĐĞŝŶƚŚĞĨŽƌĞƐĞĞĂďůĞĨƵƚƵƌĞ͘/ĨƚŚĞƐĞĞĂƌŶŝŶŐƐ
ǁĞƌĞƌĞŵŝƩĞĚ͕ƚĂdžŽĨZDϮϬϬŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϭϬŵŝůůŝŽŶͿǁŽƵůĚďĞƉĂLJĂďůĞ͘

ANNUAL REPORT 2018 page 207

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϴ &ZZdy͵'ZKhWΈKEd/EhΉ

 dŚĞĐŽŵƉŽŶĞŶƚƐĂŶĚŵŽǀĞŵĞŶƚƐŽĨƚŚĞ'ƌŽƵƉ͛ƐĚĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

Property, plant and

equipment and
ŝŶǀĞƐƚŵĞŶƚ
2018 ƉƌŽƉĞƌƟĞƐ
ƚϭ:ƵůLJϮϬϭϳ 153
;ŚĂƌŐĞĚͿͬĐƌĞĚŝƚĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ
Ͳ ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ (31)
Ͳ ĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ –
ŚĂƌŐĞĚƚŽŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ –
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ 1
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ –
ƚϯϬ:ƵŶĞϮϬϭϴ 123

Property,
plant and /ŶƚĂŶŐŝďůĞ
2017 equipment ĂƐƐĞƚƐ
ƚϭ:ƵůLJϮϬϭϲ ;ϭ͕ϳϵϴͿ ;ϰϳϵͿ
ƌĞĚŝƚĞĚͬ;ĐŚĂƌŐĞĚͿƚŽƉƌŽĮƚŽƌůŽƐƐ
Ͳ ŽƌŝŐŝŶĂƟŽŶĂŶĚƌĞǀĞƌƐĂůŽĨƚĞŵƉŽƌĂƌLJĚŝīĞƌĞŶĐĞƐ ϱϴ ϯ
Ͳ ĞīĞĐƚƐŽĨƌĞĐŽŐŶŝƟŽŶŽĨƉƌĞǀŝŽƵƐůLJƵŶƌĞĐŽŐŶŝƐĞĚƚĂdžůŽƐƐĞƐĂŶĚŽƚŚĞƌƚĞŵƉŽƌĂƌLJ
ĚŝīĞƌĞŶĐĞƐ ;ϰϲͿ –
Ͳ ĞīĞĐƚƐŽĨĐŚĂŶŐĞŝŶƚĂdžďĂƐĞĂƉƉůŝĐĂďůĞƚŽƵŶƌĞĂůŝƐĞĚƉƌŽĮƚĨŽůůŽǁŝŶŐĐŚĂŶŐĞƐƚŽ
 ƚŚĞůĂŶĚƵƐĞ – –
Ͳ ĞīĞĐƚƐŽĨĐŚĂŶŐĞŝŶƚĂdžďĂƐĞĨŽůůŽǁŝŶŐĐŚĂŶŐĞƐƚŽƚŚĞƚĂdžƌĞǀĂůƵĂƟŽŶ ϳϭ –
Ͳ ĞīĞĐƚƐŽĨĐŚĂŶŐĞƐŝŶƚĂdžƌĂƚĞƐ – –
ŚĂƌŐĞĚƚŽŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ – –
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ;ϰϭͿ ;ϮϭͿ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ϭ͕ϵϬϵ ϭϱϲ
ƚϯϬ:ƵŶĞϮϬϭϳ ϭϱϯ ;ϯϰϭͿ

page 208 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

dĂdžůŽƐƐĞƐĂŶĚ
Impairment ƵŶĂďƐŽƌďĞĚ
/ŶƚĂŶŐŝďůĞ and ĐĂƉŝƚĂů
ĂƐƐĞƚƐ ƉƌŽǀŝƐŝŽŶƐ ĂůůŽǁĂŶĐĞƐ KƚŚĞƌƐ Total
ΈϯϰϭΉ 157 266 38 273

ΈϯΉ 38 ΈϮϲΉ ΈϯϴΉ ΈϲϬΉ

͵ ͵ ͵ 29 29
͵ ͵ ͵ ΈϰΉ ΈϰΉ
34 ΈϭϮΉ ΈϮϬΉ ΈϭΉ 2
͵ ͵ ͵ ΈϳΉ ΈϳΉ
ΈϯϭϬΉ 183 220 17 233

dĂdžůŽƐƐĞƐĂŶĚ
Prepaid Impairment ƵŶĂďƐŽƌďĞĚ
ůĞĂƐĞ Property and ĐĂƉŝƚĂů
ƌĞŶƚĂůƐ development ƉƌŽǀŝƐŝŽŶƐ ĂůůŽǁĂŶĐĞƐ KƚŚĞƌƐ Total
;ϭϱϴͿ ϯϲϲ ϰϭϴ ϯϴϬ ;ϭϬͿ ;ϭ͕ϮϴϭͿ

– ;ϭϲͿ ϭϴ ;ϮϰͿ Ϯϯ ϲϮ

;ϯϱͿ – ϵϰ ϭ ϲϭ ϳϱ

– Ϯ – – – Ϯ
– – – – – ϳϭ
– – – ;ϴͿ – ;ϴͿ
– – ;ϰͿ – ;ϭϭͿ ;ϭϱͿ
;ϯϮͿ – ϭϵ ϴ ;ϭϱͿ ;ϴϮͿ
ϮϮϱ ;ϯϱϮͿ ;ϯϴϴͿ ;ϵϭͿ ;ϭϬͿ ϭ͕ϰϰϵ
– – ϭϱϳ Ϯϲϲ ϯϴ Ϯϳϯ

ANNUAL REPORT 2018 page 209

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Ϯϵ dyZKsZ>͵'ZKhW

Group
2018 2017
EŽŶͲĐƵƌƌĞŶƚ 63 ϭϲϬ
ƵƌƌĞŶƚ 63 ϲϳ
126 ϮϮϳ

 dŚĞŶŽŶͲĐƵƌƌĞŶƚƚĂdžƌĞĐŽǀĞƌĂďůĞŝŶĐůƵĚĞƐĂĚĚŝƟŽŶĂůƚĂdžĂƐƐĞƐƐŵĞŶƚƐƉĂŝĚĂŶĚǁŝƚŚŚŽůĚŝŶŐƚĂdžĞƐ͕ǁŚŝĐŚǁŽƵůĚŶŽƌŵĂůůLJƚĂŬĞŵŽƌĞ
ƚŚĂŶĂLJĞĂƌƚŽƌĞƐŽůǀĞǁŝƚŚƚŚĞƌĞůĞǀĂŶƚƚĂdžĂƵƚŚŽƌŝƟĞƐ͘dŚĞƐĞƚĂdžĞƐĂƌĞƌĞĐŽŐŶŝƐĞĚĂƐƌĞĐŽǀĞƌĂďůĞĂƐƚŚĞ'ƌŽƵƉŚĂƐƌĞĂƐŽŶĂďůĞ
ŐƌŽƵŶĚƐƚŽďĞůŝĞǀĞƚŚĂƚƚŚĞĂĚĚŝƟŽŶĂůƚĂdžĂƐƐĞƐƐŵĞŶƚƐǁĞƌĞŝŶĐŽƌƌĞĐƚůLJŝƐƐƵĞĚĂŶĚƚŚĞǁŝƚŚŚŽůĚŝŶŐƚĂdžĞƐǁŝůůďĞƌĞĨƵŶĚĞĚŽŶĐĞƚŚĞ
'ƌŽƵƉĐŽŵƉůŝĞƐǁŝƚŚƚŚĞĐůĂŝŵƉƌŽĐĞĚƵƌĞĂŶĚĚŽĐƵŵĞŶƚĂƟŽŶƌĞƋƵŝƌĞŵĞŶƚƐ͘

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ŵĂŶĂŐĞŵĞŶƚŚĂƐĂƐƐĞƐƐĞĚƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJŽĨƚŚĞǁŝƚŚŚŽůĚŝŶŐƚĂdžƌĞĐŽǀĞƌĂďůĞĨƌŽŵƚŚĞ/ŶĚŝĂƚĂdž
ĂƵƚŚŽƌŝƟĞƐ͘ƌŝƐŝŶŐĨƌŽŵƚŚŝƐĂƐƐĞƐƐŵĞŶƚ͕ƚŚĞ'ƌŽƵƉŵĂĚĞĂƉƌŽǀŝƐŝŽŶŽĨZDϳϭŵŝůůŝŽŶŽŶƚŚĞǁŝƚŚŚŽůĚŝŶŐƚĂdžƌĞĐŽǀĞƌĂďůĞĚƵĞƚŽ
ƵŶĐĞƌƚĂŝŶƚLJŽĨƚŚĞƌĞĐŽǀĞƌĂďŝůŝƚLJǁŚŝĐŚŝƐĚĞƉĞŶĚĞŶƚŽŶƚŚĞĚĞĐŝƐŝŽŶŽĨƚŚĞ/ŶĚŝĂŶƚĂdžĂƵƚŚŽƌŝƟĞƐ͕ĂƐǁĞůůĂƐƚŚĞƟŵŝŶŐŽĨƚŚĞƌĞĨƵŶĚƐ͘

page 210 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϬ Z/sd/s^^d^ͬ>//>/d/^͵'ZKhW

 dŚĞ'ƌŽƵƉ͛ƐĚĞƌŝǀĂƟǀĞĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ĞƌŝǀĂƟǀĞ ĞƌŝǀĂƟǀĞ ĞƌŝǀĂƟǀĞ ĞƌŝǀĂƟǀĞ
ĂƐƐĞƚƐ ůŝĂďŝůŝƟĞƐ Net ĂƐƐĞƚƐ ůŝĂďŝůŝƟĞƐ Net
EŽŶͲĐƵƌƌĞŶƚ
ĞƌŝǀĂƟǀĞƐŶŽƚĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐ͗
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ
΀ŶŽƚĞ;ĂͿ΁ – (2) (2) – – –
ĂƐŚŇŽǁŚĞĚŐĞƐ͗
Ͳ ŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ
΀ŶŽƚĞ;ďͿ΁ – – – ϭ – ϭ
Ͳ ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚ
΀ŶŽƚĞ;ĐͿ΁ – – – ϰϯ – ϰϯ
– (2) (2) ϰϰ – ϰϰ

ƵƌƌĞŶƚ
ĞƌŝǀĂƟǀĞƐŶŽƚĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐ͗
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ
΀ŶŽƚĞ;ĂͿ΁ 1 (21) (20) ϭϬ – ϭϬ
ĂƐŚŇŽǁŚĞĚŐĞƐ͗
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ
΀ŶŽƚĞ;ĂͿ΁ 21 (3) 18 ϱ ;ϭϭͿ ;ϲͿ
Ͳ ŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ
΀ŶŽƚĞ;ďͿ΁ 1 – 1 Ϯ – Ϯ
Ͳ ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚ
΀ŶŽƚĞ;ĐͿ΁ 43 – 43 ϴϬ – ϴϬ
66 (24) 42 ϵϳ ;ϭϭͿ ϴϲ
Total 66 (26) 40 ϭϰϭ ;ϭϭͿ ϭϯϬ

 dŚĞƐĞĚĞƌŝǀĂƟǀĞƐĂƌĞĞŶƚĞƌĞĚŝŶƚŽƚŽŚĞĚŐĞĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJ͕ŝŶƚĞƌĞƐƚƌĂƚĞĂŶĚƉƌŝĐĞƌŝƐŬƐĂƐĚĞƐĐƌŝďĞĚŝŶEŽƚĞϱ͘tŚŝůƐƚĂůůĚĞƌŝǀĂƟǀĞƐ
ĞŶƚĞƌĞĚƉƌŽǀŝĚĞĞĐŽŶŽŵŝĐŚĞĚŐĞƐƚŽƚŚĞ'ƌŽƵƉ͕ĚĞƌŝǀĂƟǀĞƐŶŽƚĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞƐĂƌĞŝŶƐƚƌƵŵĞŶƚƐƚŚĂƚĞŝƚŚĞƌĚŽŶŽƚƋƵĂůŝĨLJĨŽƌ
ƚŚĞĂƉƉůŝĐĂƟŽŶŽĨŚĞĚŐĞĂĐĐŽƵŶƟŶŐƵŶĚĞƌƚŚĞƐƉĞĐŝĮĐƌƵůĞƐŝŶD&Z^ϭϯϵŽƌǁŚĞƌĞƚŚĞĐĞƌƚĂŝŶƐƵďƐŝĚŝĂƌŝĞƐŚĂǀĞĐŚŽƐĞŶŶŽƚƚŽĂƉƉůLJ
ŚĞĚŐĞĂĐĐŽƵŶƟŶŐ͘

ANNUAL REPORT 2018 page 211

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϬ Z/sd/s^^d^ͬ>//>/d/^͵'ZKhWΈKEd/EhΉ

Ă͘ &ŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ

 &ŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐŚĂǀĞďĞĞŶĞŶƚĞƌĞĚŝŶƚŽǁŝƚŚƚŚĞĨŽůůŽǁŝŶŐŶŽƟŽŶĂůĂŵŽƵŶƚƐĂŶĚŵĂƚƵƌŝƟĞƐ͗

2018 2017
DĂƚƵƌŝƟĞƐ DĂƚƵƌŝƟĞƐ
>ĞƐƐƚŚĂŶ 1 year to >ĞƐƐƚŚĂŶ 1 year to
1 year ϯLJĞĂƌƐ Total 1 year ϯLJĞĂƌƐ Total
&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚƚŽ
ŚĞĚŐĞĂŶƟĐŝƉĂƚĞĚƐĂůĞƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ hŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ 54 8 62 ϱϱ – ϱϱ
- other currencies 41 – 41 ϱϵ – ϱϵ
95 8 103 ϭϭϰ – ϭϭϰ

&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚ
ƚŽŚĞĚŐĞƌĞĐĞŝǀĂďůĞƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ hŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ 15 2 17 ϭϮ – ϭϮ
Ͳ ƵƌŽƉĞĂŶhŶŝŽŶĞƵƌŽ 10 – 10 ϭϳ – ϭϳ
- other currencies 3 – 3 ϭϲ – ϭϲ
28 2 30 ϰϱ – ϰϱ

&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚ
ƚŽŚĞĚŐĞŝŶƚĞƌĐŽŵƉĂŶLJ
ƌĞĐĞŝǀĂďůĞƐĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ ƵƐƚƌĂůŝĂŶĚŽůůĂƌ – – – ϭϵϱ – ϭϵϱ
Ͳ ŚŝŶĞƐĞƌĞŶŵŝŶďŝ 47 – 47 – – –
47 – 47 ϭϵϱ – ϭϵϱ

&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚƚŽ
ŚĞĚŐĞĂŶƟĐŝƉĂƚĞĚƉƵƌĐŚĂƐĞƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ hŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ 462 – 462 ϯϯϬ Ϯ ϯϯϮ
Ͳ ƵƌŽƉĞĂŶhŶŝŽŶĞƵƌŽ 477 243 720 Ϯϭϳ – Ϯϭϳ
Ͳ ƵƐƚƌĂůŝĂŶĚŽůůĂƌ 76 – 76 ϭϭϯ – ϭϭϯ
- other currencies 75 – 75 ϴϭ – ϴϭ
1,090 243 1,333 ϳϰϭ Ϯ ϳϰϯ

page 212 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϬ Z/sd/s^^d^ͬ>//>/d/^͵'ZKhWΈKEd/EhΉ

Ă͘ &ŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ;ĐŽŶƟŶƵĞĚͿ

 &ŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐŚĂǀĞďĞĞŶĞŶƚĞƌĞĚŝŶƚŽǁŝƚŚƚŚĞĨŽůůŽǁŝŶŐŶŽƟŽŶĂůĂŵŽƵŶƚƐĂŶĚŵĂƚƵƌŝƟĞƐ͗;ĐŽŶƟŶƵĞĚͿ

2018 2017
DĂƚƵƌŝƟĞƐ DĂƚƵƌŝƟĞƐ
>ĞƐƐƚŚĂŶ 1 year to >ĞƐƐƚŚĂŶ 1 year to
1 year ϯLJĞĂƌƐ Total 1 year ϯLJĞĂƌƐ Total
&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚ
ƚŽŚĞĚŐĞƉĂLJĂďůĞƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ hŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ 314 – 314 ϭϮϬ – ϭϮϬ
Ͳ ƵƌŽƉĞĂŶhŶŝŽŶĞƵƌŽ 272 – 272 ϳϬ – ϳϬ
- other currencies 20 – 20 ϭϯ – ϭϯ
606 – 606 ϮϬϯ – ϮϬϯ

&ŽƌǁĂƌĚĐŽŶƚƌĂĐƚƐƵƐĞĚ
ƚŽŚĞĚŐĞďŽƌƌŽǁŝŶŐƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶ͗
Ͳ hŶŝƚĞĚ^ƚĂƚĞƐĚŽůůĂƌ 39 – 39 – – –
dŽƚĂůŶŽƟŽŶĂůĂŵŽƵŶƚ 1,905 253 2,158 ϭ͕Ϯϵϴ Ϯ ϭ͕ϯϬϬ

EĞƚĨĂŝƌǀĂůƵĞ;ůŝĂďŝůŝƟĞƐͿͬĂƐƐĞƚƐ (2) (2) (4) ϰ – ϰ

ď͘ /ŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ

 dŚĞ'ƌŽƵƉŚĂƐĞŶƚĞƌĞĚŝŶƚŽŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐĨŽƌĐĞƌƚĂŝŶůŽŶŐͲƚĞƌŵďŽƌƌŽǁŝŶŐƐƚŽƌĞĚƵĐĞƚŚĞ'ƌŽƵƉ͛ƐĞdžƉŽƐƵƌĞƚŽ
ǀŽůĂƟůŝƚLJŝŶŝŶƚĞƌĞƐƚƌĂƚĞƐ͘dŚĞŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ͕ĂůůƉůĂŝŶǀĂŶŝůůĂ͕ĂƌĞĂƐĨŽůůŽǁƐ͗

ZĂŶŐĞŽĨ EŽƟŽŶĂůĂŵŽƵŶƚŝŶŽƌŝŐŝŶĂůĐƵƌƌĞŶĐLJ
īĞĐƟǀĞ ǁĞŝŐŚƚĞĚĂǀĞƌĂŐĞ Original
period rate per annum ĐƵƌƌĞŶĐLJ 2018 2017
ϭϮĞĐĞŵďĞƌϮϬϭϮƚŽϭϮĞĐĞŵďĞƌϮϬϭϴ ϭ͘ϴϮϮйƚŽϭ͘ϴϴϱй h^ 33 ϭϬϬ
ϯϬ:ƵŶĞϮϬϭϱƚŽϭϳĞĐĞŵďĞƌϮϬϭϴ ϯ͘ϵϯϴй ZD 42 ϭϮϬ

ANNUAL REPORT 2018 page 213

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϬ Z/sd/s^^d^ͬ>//>/d/^͵'ZKhWΈKEd/EhΉ

ď͘ /ŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ;ĐŽŶƟŶƵĞĚͿ

 dŚĞŶŽƟŽŶĂůĂŵŽƵŶƚ͕ĨĂŝƌǀĂůƵĞĂŶĚŵĂƚƵƌŝƚLJƉĞƌŝŽĚƐŽĨƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐĂƌĞĂƐĨŽůůŽǁƐ͗

EŽƟŽŶĂůĂŵŽƵŶƚ &ĂŝƌǀĂůƵĞĂƐƐĞƚƐͬ;ůŝĂďŝůŝƟĞƐͿ
2018 2017 2018 2017
DĂƚƵƌŝƚLJƉĞƌŝŽĚƐ͗
Ͳ ĚƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 175 ϯϲϲ 1 Ϯ
Ͳ ĚƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌĂŶĚŶŽůĂƚĞƌƚŚĂŶ
ƚŚƌĞĞLJĞĂƌƐ – ϭϴϯ – ϭ
175 ϱϰϵ 1 ϯ

Đ͘ ƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚ

 dŚĞ'ƌŽƵƉŚĂƐĞŶƚĞƌĞĚŝŶƚŽĂĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚƚŽĞdžĐŚĂŶŐĞƚŚĞƉƌŝŶĐŝƉĂůƉĂLJŵĞŶƚƐŽĨĂh^ϰϰŵŝůůŝŽŶ
;ϮϬϭϳ͗h^ϭϯϯŵŝůůŝŽŶͿůŽĂŶŝŶƚŽh͕ƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJŽĨƚŚĞƐƵďƐŝĚŝĂƌLJ͕ƚŽƌĞĚƵĐĞƚŚĞ'ƌŽƵƉ͛ƐĞdžƉŽƐƵƌĞĨƌŽŵ
ĂĚǀĞƌƐĞŇƵĐƚƵĂƟŽŶƐŝŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJ͘

EŽƟŽŶĂůĂŵŽƵŶƚ &ĂŝƌǀĂůƵĞĂƐƐĞƚƐͬ;ůŝĂďŝůŝƟĞƐͿ
2018 2017 2018 2017
DĂƚƵƌŝƚLJƉĞƌŝŽĚƐ͗
Ͳ ĚƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 178 ϯϴϮ 43 ϴϬ
Ͳ ĚƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌĂŶĚŶŽůĂƚĞƌƚŚĂŶ
ƚŚƌĞĞLJĞĂƌƐ – ϭϴϵ – ϰϯ
178 ϱϳϭ 43 ϭϮϯ

page 214 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

31 RECEIVABLES AND OTHER ASSETS

Group Company
2018 2017 2018 2017
EŽŶͲĐƵƌƌĞŶƚ
dƌĂĚĞƌĞĐĞŝǀĂďůĞƐ΀ŶŽƚĞ;ĂͿ΁ 48 ϯϴ – –
ŵŽƵŶƚĚƵĞĨƌŽŵũŽŝŶƚǀĞŶƚƵƌĞƐ΀ŶŽƚĞ;ĂͿ΁ 136 ϭϭϭ – –
/ŶĚŝƌĞĐƚƚĂdžĞƐƌĞĐŽǀĞƌĂďůĞ͕
ŽƚŚĞƌƌĞĐĞŝǀĂďůĞƐĂŶĚŽƚŚĞƌƐ 18 ϭϳ – –
202 ϭϲϲ – –
WĞŶƐŝŽŶĂƐƐĞƚƐ΀ŶŽƚĞ;ĐͿ΁ 12 ϱ – –
214 ϭϳϭ – –

ƵƌƌĞŶƚ
dƌĂĚĞƌĞĐĞŝǀĂďůĞƐ 3,002 Ϯ͕ϰϯϲ – –
ŵŽƵŶƚƐĚƵĞĨƌŽŵũŽŝŶƚǀĞŶƚƵƌĞƐ 104 Ϯϵ – –
ŵŽƵŶƚƐĚƵĞĨƌŽŵĂƐƐŽĐŝĂƚĞƐ 3 ϭϯ – –
KƚŚĞƌƌĞĐĞŝǀĂďůĞƐ͗
Ͳ ŝŶĚŝƌĞĐƚƚĂdžĞƐƌĞĐŽǀĞƌĂďůĞ 272 ϭϲϲ 1 –
Ͳ ƌĞďĂƚĞƐĨƌŽŵƉƌŝŶĐŝƉĂůƐ 297 ϯϬϭ – –
Ͳ ŝŶǀĞŶƚŽƌŝĞƐŚĞůĚŽŶďĞŚĂůĨ 515 ϯϴϱ
- others 422 ϱϳϵ 3 –
Deposits 72 ϭϭϬ – –
4,687 ϰ͕Ϭϭϵ 4 –
ĐĐƵŵƵůĂƚĞĚŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ͗
Ͳ ƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐ (75) ;ϴϵͿ – –
Ͳ ŽƚŚĞƌƌĞĐĞŝǀĂďůĞƐ (76) ;ϴϯͿ – –
4,536 ϯ͕ϴϰϳ 4 –
dŽƚĂůƌĞĐĞŝǀĂďůĞƐĂŶĚŽƚŚĞƌĂƐƐĞƚƐ 4,750 ϰ͕Ϭϭϴ 4 –

ANNUAL REPORT 2018 page 215

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϭ Z/s>^EKd,Z^^d^ΈKEd/EhΉ

Ă͘ ZĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐ

 ŶĂůLJƐŝƐŽĨƌĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐĂƌĞĂƐĨŽůůŽǁƐ͗

Group Trade ŵŽƵŶƚƐĚƵĞĨƌŽŵ KƚŚĞƌ

2018 ƌĞĐĞŝǀĂďůĞƐ ũŽŝŶƚǀĞŶƚƵƌĞƐ ƌĞĐĞŝǀĂďůĞƐ Total
EŽŵŝŶĂůǀĂůƵĞ
ƚϭ:ƵůLJϮϬϭϳ 80 111 20 211
ĚĚŝƟŽŶ 38 70 17 125
ZĞĐĞŝǀĞĚ (28) (40) (2) (70)
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (5) (5) – (10)
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – – (17) (17)
ƚϯϬ:ƵŶĞϮϬϭϴ 85 136 18 239

Discount
ƚϭ:ƵůLJϮϬϭϳ (5) – – (5)
ĐĐƌĞƟŽŶĐƌĞĚŝƚĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ 1 – – 1
ƚϯϬ:ƵŶĞϮϬϭϴ (4) – – (4)
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 81 136 18 235

 dŚĞƌĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐĂƌĞƐƵďũĞĐƚƚŽƚŚĞĨŽůůŽǁŝŶŐŵĂƚƵƌŝƚLJƉĞƌŝŽĚƐ͗

Trade ŵŽƵŶƚƐĚƵĞĨƌŽŵ KƚŚĞƌ

ƌĞĐĞŝǀĂďůĞƐ ũŽŝŶƚǀĞŶƚƵƌĞƐ ƌĞĐĞŝǀĂďůĞƐ Total
EŽŶͲĐƵƌƌĞŶƚ
ƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 48 136 18 202

ƵƌƌĞŶƚ
ƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 33 – – 33
81 136 18 235

page 216 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϭ Z/s>^EKd,Z^^d^ΈKEd/EhΉ

Ă͘ ZĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐ;ĐŽŶƟŶƵĞĚͿ

ŶĂůLJƐŝƐŽĨƌĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŵŽƵŶƚƐĚƵĞ
Group Trade ZĞĚĞĞŵĂďůĞ ĨƌŽŵũŽŝŶƚ KƚŚĞƌ
2017 ƌĞĐĞŝǀĂďůĞƐ ůŽĂŶƐƚŽĐŬƐ ǀĞŶƚƵƌĞƐ ƌĞĐĞŝǀĂďůĞƐ Total
EŽŵŝŶĂůǀĂůƵĞ
ƚϭ:ƵůLJϮϬϭϲ ϭϮϰ ϱϬϬ ϲϭ ϭϯϯ ϴϭϴ
ƌŝƐŝŶŐĨƌŽŵĚŝƐƉŽƐĂůŽĨĂƐƵďƐŝĚŝĂƌLJ – – ϰϴ – ϰϴ
ĚĚŝƟŽŶ ϯϬ – – – ϯϬ
ZĞĐĞŝǀĞĚ ;ϯϵͿ – – ;ϵϴͿ ;ϭϯϳͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ Ϯ – Ϯ ϰ ϴ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;ϯϳͿ ;ϱϬϬͿ – ;ϭϵͿ ;ϱϱϲͿ
ƚϯϬ:ƵŶĞϮϬϭϳ ϴϬ – ϭϭϭ ϮϬ Ϯϭϭ

Discount
ƚϭ:ƵůLJϮϬϭϲ ;ϲͿ ;ϭϵϲͿ – – ;ϮϬϮͿ
ĐĐƌĞƟŽŶĐƌĞĚŝƚĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ Ϯ Ϯϭ – – Ϯϯ
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;ϭͿ ϭϳϱ – – ϭϳϰ
ƚϯϬ:ƵŶĞϮϬϭϳ ;ϱͿ – – – ;ϱͿ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ ϳϱ – ϭϭϭ ϮϬ ϮϬϲ

dŚĞƌĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐĂƌĞƐƵďũĞĐƚƚŽƚŚĞĨŽůůŽǁŝŶŐŵĂƚƵƌŝƚLJƉĞƌŝŽĚƐ͗

ŵŽƵŶƚƐĚƵĞ
Trade ĨƌŽŵũŽŝŶƚ KƚŚĞƌ
ƌĞĐĞŝǀĂďůĞƐ ǀĞŶƚƵƌĞƐ ƌĞĐĞŝǀĂďůĞƐ Total
EŽŶͲĐƵƌƌĞŶƚ
ƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ ϯϴ ϭϭϭ ϭϳ ϭϲϲ

ƵƌƌĞŶƚ
ƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ ϯϳ – ϯ ϰϬ
ϳϱ ϭϭϭ ϮϬ ϮϬϲ

ANNUAL REPORT 2018 page 217

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϭ Z/s>^EKd,Z^^d^ΈKEd/EhΉ

Ă͘ ZĞĐĞŝǀĂďůĞƐŽŶĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐ;ĐŽŶƟŶƵĞĚͿ

ŝ͘ dƌĂĚĞƌĞĐĞŝǀĂďůĞƐ
 EŽŶͲĐƵƌƌĞŶƚƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐƌĞƉƌĞƐĞŶƚƐƚŚĞŽƵƚƐƚĂŶĚŝŶŐĂŵŽƵŶƚƐĨƌŽŵĞƋƵŝƉŵĞŶƚƐŽůĚƚŽ/ŶĚƵƐƚƌŝĂůĚŝǀŝƐŝŽŶ͛Ɛ
ĐƵƐƚŽŵĞƌƐƵŶĚĞƌĚĞĨĞƌƌĞĚƉĂLJŵĞŶƚƚĞƌŵƐ͘dŚĞĚŝƐĐŽƵŶƚƌĂƚĞƐƌĂŶŐĞƐĨƌŽŵϰ͘ϵйƚŽϭϵ͘ϲй;ϮϬϭϳ͗ϵ͘ϬйƚŽϭϭ͘ϴйͿ
ƉĞƌĂŶŶƵŵ͘

ŝŝ͘ ŵŽƵŶƚƐĚƵĞĨƌŽŵũŽŝŶƚǀĞŶƚƵƌĞƐ
 dŚĞĂŵŽƵŶƚƐĚƵĞĨƌŽŵũŽŝŶƚǀĞŶƚƵƌĞƐƌĞƉƌĞƐĞŶƚƵŶƐĞĐƵƌĞĚůŽŶŐͲƚĞƌŵůŽĂŶƐĂĚǀĂŶĐĞĚƚŽtĞŝĨĂŶŐ^ŝŵĞĂƌďLJ>ŝƋƵŝĚ
dĞƌŵŝŶĂůŽ>ƚĚ;t^>dͿĂŶĚtĞŝĨĂŶŐ^ŝŵĞĂƌďLJtĞƐƚWŽƌƚŽ>ƚĚ;t^tWͿ͘ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞůŽĂŶƐƚŽt^>d
ĂŶĚt^tWĂŵŽƵŶƚĞĚƚŽĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϲϯ͘ϬŵŝůůŝŽŶĂŶĚZDϱϵ͘ϱŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϵϵ͘ϰŵŝůůŝŽŶĂŶĚ
ZDϯϲ͘ϯŵŝůůŝŽŶͿƌĞƐƉĞĐƟǀĞůLJ;ϮϬϭϳ͗ĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϬϬŵŝůůŝŽŶĂŶĚZDϳϱ͘ϱŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϲϯ͘ϯŵŝůůŝŽŶ
ĂŶĚZDϰϳ͘ϴŵŝůůŝŽŶͿƌĞƐƉĞĐƟǀĞůLJͿ͘>ŽŶŐͲƚĞƌŵůŽĂŶƐƚŽũŽŝŶƚǀĞŶƚƵƌĞƐďĞĂƌĮdžĞĚŝŶƚĞƌĞƐƚƌĂƚĞƐƌĂŶŐŝŶŐĨƌŽŵϲ͘ϬйƚŽϲ͘ϰй
ƉĞƌĂŶŶƵŵ;ϮϬϭϳ͗ϲ͘ϬйƚŽϲ͘ϰйͿĂŶĚĂƌĞƌĞƉĂLJĂďůĞďLJŝŶƐƚĂůŵĞŶƚƐĨƌŽŵĞĐĞŵďĞƌϮϬϭϵƚŽĞĐĞŵďĞƌϮϬϮϰ͘

ď͘ ŐĞŝŶŐĂŶĂůLJƐŝƐŽĨƌĞĐĞŝǀĂďůĞƐ

ŐĞŝŶŐĂŶĂůLJƐŝƐŽĨƌĞĐĞŝǀĂďůĞƐĐĂƚĞŐŽƌŝƐĞĚŝŶƚŽŝŵƉĂŝƌĞĚĂŶĚŶŽƚŝŵƉĂŝƌĞĚĂƌĞĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
EŽƚŝŵƉĂŝƌĞĚ͗
Ͳ ŶŽƚƉĂƐƚĚƵĞ 3,465 Ϯ͕ϴϰϯ 3 –
Ͳ ƉĂƐƚĚƵĞďLJ
 ϭƚŽϯϬĚĂLJƐ 648 ϱϬϬ – –
 ϯϭƚŽϲϬĚĂLJƐ 251 Ϯϰϳ – –
 ϲϭƚŽϵϬĚĂLJƐ 106 ϭϬϭ – –
 ϵϭƚŽϭϴϬĚĂLJƐ 97 ϳϭ – –
 ŵŽƌĞƚŚĂŶϭϴϭĚĂLJƐ 101 ϭϱϳ 1 –
/ŵƉĂŝƌĞĚ 221 Ϯϲϲ – –
'ƌŽƐƐƌĞĐĞŝǀĂďůĞƐ 4,889 ϰ͕ϭϴϱ 4 –

 dŚĞƌĞĐĞŝǀĂďůĞƐƚŚĂƚĂƌĞŶĞŝƚŚĞƌƉĂƐƚĚƵĞŶŽƌŝŶĚŝǀŝĚƵĂůůLJŝŵƉĂŝƌĞĚĂƌĞĐƌĞĚŝƚǁŽƌƚŚLJĚĞďƚŽƌƐǁŝƚŚŐŽŽĚƉĂLJŵĞŶƚƌĞĐŽƌĚƐǁŝƚŚ
ƚŚĞ'ƌŽƵƉ͘DŽƌĞƚŚĂŶϳϬ͘ϵй;ϮϬϭϳ͗ϲϳ͘ϵйͿŽĨƚŚĞ'ƌŽƵƉ͛ƐŐƌŽƐƐƌĞĐĞŝǀĂďůĞƐĂƌĞĨƌŽŵƚŚŝƐŐƌŽƵƉŽĨĐƵƐƚŽŵĞƌƐ͘ZĞĐĞŝǀĂďůĞƐƚŚĂƚ
ĂƌĞƉĂƐƚĚƵĞďƵƚŶŽƚŝŶĚŝǀŝĚƵĂůůLJŝŵƉĂŝƌĞĚƌĞůĂƚĞƚŽĂŶƵŵďĞƌŽĨŝŶĚĞƉĞŶĚĞŶƚĐƵƐƚŽŵĞƌƐĨŽƌǁŚŽŵƚŚĞƌĞŝƐŶŽƌĞĐĞŶƚŚŝƐƚŽƌLJ
ŽĨĚĞĨĂƵůƚ͘

 dŚĞƌĞĐĞŝǀĂďůĞƐƚŚĂƚĂƌĞŝŶĚŝǀŝĚƵĂůůLJĚĞƚĞƌŵŝŶĞĚƚŽďĞŝŵƉĂŝƌĞĚĂƚƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞƌĞůĂƚĞƚŽĚĞďƚŽƌƐƚŚĂƚĂƌĞŝŶĮŶĂŶĐŝĂů
ĚŝĸĐƵůƚLJ͕ŚĂǀĞĚĞĨĂƵůƚĞĚŽŶƉĂLJŵĞŶƚƐĂŶĚͬŽƌŚĂǀĞĚŝƐƉƵƚĞƐŽŶƚŚĞďŝůůŝŶŐƐ͘KĨƚŚĞƚŽƚĂůĂŵŽƵŶƚĚƵĞĨƌŽŵƚŚĞƐĞĚĞďƚŽƌƐŽĨ
ZDϮϮϭŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϲϲŵŝůůŝŽŶͿ͕ĂŶŝŵƉĂŝƌŵĞŶƚŽĨZDϭϮϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭϮϰŵŝůůŝŽŶͿŚĂƐďĞĞŶŵĂĚĞǁŚŝůĞƚŚĞ
ďĂůĂŶĐĞŝƐĞdžƉĞĐƚĞĚƚŽďĞƌĞĐŽǀĞƌĞĚƚŚƌŽƵŐŚƚŚĞĚĞďƚƌĞĐŽǀĞƌLJƉƌŽĐĞƐƐ͘

page 218 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϭ Z/s>^EKd,Z^^d^ΈKEd/EhΉ

ď͘ ŐĞŝŶŐĂŶĂůLJƐŝƐŽĨƌĞĐĞŝǀĂďůĞƐ;ĐŽŶƟŶƵĞĚͿ

DŽǀĞŵĞŶƚƐŽĨŝŵƉĂŝƌŵĞŶƚĐŚĂƌŐĞŽĨƚŚĞ'ƌŽƵƉĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ƚϭ:ƵůLJ 172 Ϯϳϵ
tƌŝƚĞŽīƐ (22) ;ϭϲͿ
/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ 30 ϰϵ
ZĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚůŽƐƐĞƐ (14) ;ϭϰͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (9) ϱ
ĞĐŽŶƐŽůŝĚĂƟŽŶŽĨĂƐƵďƐŝĚŝĂƌLJ (6) –
dƌĂŶƐĨĞƌƌĞĚƚŽĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – ;ϭϯϭͿ
ƚϯϬ:ƵŶĞ 151 ϭϳϮ

/ŵƉĂŝƌŵĞŶƚĂƌŝƐŝŶŐĨƌŽŵ͗
Ͳ ŝŶĚŝǀŝĚƵĂůĂƐƐĞƐƐŵĞŶƚ 123 ϭϮϰ
Ͳ ĐŽůůĞĐƟǀĞĂƐƐĞƐƐŵĞŶƚ 28 ϰϴ
ĂƌƌLJŝŶŐĂŵŽƵŶƚĂƚĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 151 ϭϳϮ

dŚĞ'ƌŽƵƉ͛ƐĐƌĞĚŝƚƌŝƐŬŵĂŶĂŐĞŵĞŶƚŽďũĞĐƟǀĞƐ͕ƉŽůŝĐLJĂŶĚƚŚĞĞdžƉŽƐƵƌĞƐĂƌĞĚĞƐĐƌŝďĞĚŝŶEŽƚĞϱ͘

Đ͘ WĞŶƐŝŽŶĂƐƐĞƚƐ

 ĞƌƚĂŝŶƐƵďƐŝĚŝĂƌŝĞƐŝŶ,ŽŶŐ<ŽŶŐŽƉĞƌĂƚĞĨƵŶĚĞĚĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐ͘dŚĞĚĞĮŶĞĚďĞŶĞĮƚƉůĂŶƐĂƌĞĚĞƚĞƌŵŝŶĞĚďĂƐĞĚŽŶĂ
ƉĞƌŝŽĚŝĐĂĐƚƵĂƌŝĂůǀĂůƵĂƟŽŶďLJĞdžƚĞƌŶĂůĐŽŶƐƵůƚĂŶƚƐǁŚĞƌĞƚŚĞĂŵŽƵŶƚŽĨƚŚĞďĞŶĞĮƚƐƚŚĂƚĞůŝŐŝďůĞĞŵƉůŽLJĞĞƐŚĂǀĞĞĂƌŶĞĚŝŶ
ƌĞƚƵƌŶĨŽƌƚŚĞŝƌƐĞƌǀŝĐĞƐŝŶƚŚĞĐƵƌƌĞŶƚĂŶĚƉƌŝŽƌĮŶĂŶĐŝĂůLJĞĂƌƐĂƌĞĞƐƟŵĂƚĞĚ͘dŚĞƉĞŶƐŝŽŶĂƐƐĞƚƐƉƌĞƐĞŶƚĞĚŝƐŶĞƚŽĨƉƌĞƐĞŶƚ
ǀĂůƵĞŽĨŽďůŝŐĂƟŽŶƐŽĨZDϯϰŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϯϴŵŝůůŝŽŶͿ͘

ϯϮ /EsEdKZ/^͵'ZKhW

2018 2017
ZĂǁŵĂƚĞƌŝĂůĂŶĚĐŽŶƐƵŵĂďůĞƐ 32 ϲϬ
tŽƌŬŝŶƉƌŽŐƌĞƐƐ 403 ϯϴϰ
dƌĂĚŝŶŐŝŶǀĞŶƚŽƌŝĞƐ
Ͳ ĞƋƵŝƉŵĞŶƚ 2,023 ϭ͕ϲϲϭ
Ͳ ŵŽƚŽƌǀĞŚŝĐůĞƐ 3,131 ϯ͕Ϭϴϰ
- parts 1,595 ϭ͕ϴϵϮ
- others 26 ϮϮ
7,210 ϳ͕ϭϬϯ

 WƌŽǀŝƐŝŽŶǁĞƌĞŵĂĚĞĨŽƌŝŶǀĞŶƚŽƌŝĞƐǁŚĞƌĞƚŚĞŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞŝƐĞdžƉĞĐƚĞĚƚŽďĞďĞůŽǁƚŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚ͘ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂů
LJĞĂƌ͕ƚŚĞ'ƌŽƵƉƉƌŽǀŝĚĞĚĂŶĂŵŽƵŶƚŽĨZDϮϴϴŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϬϯŵŝůůŝŽŶͿ͘dŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨƚƌĂĚŝŶŐŝŶǀĞŶƚŽƌŝĞƐƐƚĂƚĞĚĂƚ
ŶĞƚƌĞĂůŝƐĂďůĞǀĂůƵĞǁĂƐZDϭ͕ϱϬϮŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮ͕ϳϭϰŵŝůůŝŽŶͿ͘

ANNUAL REPORT 2018 page 219

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϯ KEdZd^^d^E>//>/d/^͵'ZKhW

2018 2017
ŽŶƚƌĂĐƚĂƐƐĞƚƐ
ƵƌƌĞŶƚ
ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐ΀ŶŽƚĞ;ĂͿ΁ 47 ϯϵ
47 ϯϵ

ŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐ
EŽŶͲĐƵƌƌĞŶƚ
ĞĨĞƌƌĞĚŝŶĐŽŵĞ͗
Ͳ ŵĂŝŶƚĞŶĂŶĐĞŝŶĐŽŵĞĂŶĚĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐ 126 ϭϬϰ
126 ϭϬϰ

ƵƌƌĞŶƚ
ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐ΀ŶŽƚĞ;ĂͿĂŶĚŶŽƚĞ;ďͿ΁ 19 ϵϱ
ĞĨĞƌƌĞĚŝŶĐŽŵĞ͗
Ͳ ŵĂŝŶƚĞŶĂŶĐĞŝŶĐŽŵĞĂŶĚĞdžƚĞŶĚĞĚǁĂƌƌĂŶƟĞƐ΀ŶŽƚĞ;ďͿ΁ 341 ϯϯϭ
ƵƐƚŽŵĞƌĚĞƉŽƐŝƚƐ΀ŶŽƚĞ;ĐͿ΁ 931 ϲϱϳ
/ŶĐĞŶƟǀĞƐƉĂLJĂďůĞƚŽĐƵƐƚŽŵĞƌƐĂŶĚŽƚŚĞƌƐ 24 ϯϮ
1,315 ϭ͕ϭϭϱ
1,441 ϭ͕Ϯϭϵ

Ă͘ ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐ

 dŚĞĐŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐƌĞƉƌĞƐĞŶƚƚŚĞƟŵŝŶŐĚŝīĞƌĞŶĐĞƐŝŶƌĞǀĞŶƵĞƌĞĐŽŐŶŝƟŽŶĂŶĚƚŚĞŵŝůĞƐƚŽŶĞďŝůůŝŶŐƐ͘dŚĞŵŝůĞƐƚŽŶĞ
ďŝůůŝŶŐƐĂƌĞƐƚƌƵĐƚƵƌĞĚĂŶĚͬŽƌŶĞŐŽƟĂƚĞĚǁŝƚŚĐƵƐƚŽŵĞƌƐƚŽƌĞŇĞĐƚƚŚĞƉŚLJƐŝĐĂůĐŽŵƉůĞƟŽŶŽĨƚŚĞĐŽŶƚƌĂĐƚƐ͘

ď͘ ŽŶƚƌĂĐƚǀĂůƵĞLJĞƚƚŽďĞƌĞĐŽŐŶŝƐĞĚĂƐƌĞǀĞŶƵĞ

 ZĞǀĞŶƵĞĞdžƉĞĐƚĞĚƚŽďĞƌĞĐŽŐŶŝƐĞĚŝŶƚŚĞĨƵƚƵƌĞƌĞůĂƟŶŐƚŽƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶƐƚŚĂƚĂƌĞƵŶƐĂƟƐĮĞĚ;ŽƌƉĂƌƟĂůůLJ
ƵŶƐĂƟƐĮĞĚͿĂƚƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͕ĂƌĞĂƐĨŽůůŽǁƐ͗

2019 2020 ŌĞƌϮϬϮϬ Total

ĞĨĞƌƌĞĚŝŶĐŽŵĞ ϯϰϭ ϯϲ ϭϬϰ ϰϴϭ
ŽŶƐƚƌƵĐƟŽŶĐŽŶƚƌĂĐƚƐ ϭϭϯ ϰ ϭϲ ϭϯϯ
ϰϱϰ ϰϬ ϭϮϬ ϲϭϰ

Đ͘ ƵƐƚŽŵĞƌĚĞƉŽƐŝƚƐ

 ƵƐƚŽŵĞƌĚĞƉŽƐŝƚƐƌĞůĂƚĞƚŽĚĞƉŽƐŝƚƐŵĂĚĞďLJĐƵƐƚŽŵĞƌƐĨŽƌƚŚĞƉƵƌĐŚĂƐĞƐŽĨĞƋƵŝƉŵĞŶƚĂŶĚǀĞŚŝĐůĞƐǁŚŝĐŚǁĞƌĞƉĂƌƟĂůůLJ
ĚĞůŝǀĞƌĞĚŽƌŚĂǀĞLJĞƚƚŽďĞĚĞůŝǀĞƌĞĚďLJƚŚĞ'ƌŽƵƉĂƚƚŚĞƌĞƉŽƌƟŶŐĚĂƚĞ͘dŚĞ'ƌŽƵƉĂƉƉůŝĞƐƚŚĞƉƌĂĐƟĐĂůĞdžƉĞĚŝĞŶƚŝŶD&Z^ϭϱ
͞ZĞǀĞŶƵĞĨƌŽŵŽŶƚƌĂĐƚƐǁŝƚŚƵƐƚŽŵĞƌƐ͟ŽŶŶŽƚĚŝƐĐůŽƐŝŶŐƚŚĞĂŐŐƌĞŐĂƚĞĂŵŽƵŶƚŽĨƚŚĞƌĞǀĞŶƵĞĞdžƉĞĐƚĞĚƚŽďĞƌĞĐŽŐŶŝƐĞĚŝŶ
ƚŚĞĨƵƚƵƌĞĂƐƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƟŽŶŝƐƉĂƌƚŽĨĂĐŽŶƚƌĂĐƚƚŚĂƚŚĂƐĂŶŽƌŝŐŝŶĂůĞdžƉĞĐƚĞĚĚƵƌĂƟŽŶŽĨůĞƐƐƚŚĂŶŽŶĞLJĞĂƌ͘

Ě͘ ^ŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞƐ

 dŚĞƌĞǁĞƌĞŶŽƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞƐŝŶƚŚĞĐŽŶƚƌĂĐƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘

page 220 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϰ WZWzDEd^͵'ZKhW

2018 2017
WƌĞƉĂŝĚƚŽŝŶǀĞŶƚŽƌLJƐƵƉƉůŝĞƌƐ 385 Ϯϳϯ
KƚŚĞƌƉƌĞƉĂLJŵĞŶƚƐ 142 ϭϵϯ
527 ϰϲϲ

35 BANK BALANCES, DEPOSITS AND CASH

Group Company
2018 2017 2018 2017
Deposits
Ͳ /ƐůĂŵŝĐ 243 ϲϭϮ 162 ϮϬϬ
Ͳ ĐŽŶǀĞŶƟŽŶĂů 322 ϯϳϴ – –
565 ϵϵϬ 162 ϮϬϬ
ĂƐŚĂƚďĂŶŬĂŶĚŝŶŚĂŶĚ 1,107 ϭ͕ϬϴϮ 1 –
dŽƚĂůďĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚ 1,672 Ϯ͕ϬϳϮ 163 ϮϬϬ

īĞĐƟǀĞƉƌŽĮƚͬŝŶƚĞƌĞƐƚƌĂƚĞƐƉĞƌĂŶŶƵŵŽŶĚĞƉŽƐŝƚƐ
ǁŝƚŚůŝĐĞŶƐĞĚďĂŶŬƐͬĮŶĂŶĐŝĂůŝŶƐƟƚƵƟŽŶƐ͗
% й % й
Ͳ /ƐůĂŵŝĐ 3.36 ϯ͘Ϯϭ 3.31 ϯ͘ϮϮ
Ͳ ĐŽŶǀĞŶƟŽŶĂů 1.88 ϭ͘ϭϲ – –

36 ASSETS HELD FOR SALE AND LIABILITIES ASSOCIATED WITH ASSETS HELD FOR SALE

Group Company
2018 2017 2018 2017
ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ
Ͳ ƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ΀ŶŽƚĞ;ĂͿ΁ 106 ϲϲϳ – –
Ͳ ĚŝƐƉŽƐĂůŐƌŽƵƉƐ΀ŶŽƚĞ;ďͿ΁ 234 ϰϮ͕ϰϲϵ – –
Ͳ ƐƵďƐŝĚŝĂƌŝĞƐ – – – ϰ͕ϱϬϱ
340 ϰϯ͕ϭϯϲ – ϰ͕ϱϬϱ

>ŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ
Ͳ ĚŝƐƉŽƐĂůŐƌŽƵƉƐ΀ŶŽƚĞ;ďͿ΁ (43) ;ϭϳ͕ϮϵϬͿ – –
EĞƚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ 297 Ϯϱ͕ϴϰϲ – ϰ͕ϱϬϱ

ANNUAL REPORT 2018 page 221

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϲ ^^d^,>&KZ^>E>//>/d/^^^K/dt/d,^^d^,>&KZ^>ΈKEd/EhΉ

a. Property, plant and equipment

 ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ƚŚĞ'ƌŽƵƉƌĞĐůĂƐƐŝĮĞĚĐĞƌƚĂŝŶƉƌŽƉĞƌƟĞƐŝŶƵƐƚƌĂůŝĂĨƌŽŵĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞƚŽƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚ
ĞƋƵŝƉŵĞŶƚĂƐƚŚĞƐĞƉƌŽƉĞƌƟĞƐĂƌĞŶŽůŽŶŐĞƌƉĂƌƚŽĨƚŚĞŽŶͲŐŽŝŶŐĚŝƐƉŽƐĂůƉƌŽĐĞƐƐ͘dŚĞƌĞĐůĂƐƐŝĮĐĂƟŽŶŚĂƐƌĞƐƵůƚĞĚŝŶĐĂƚĐŚͲƵƉ
ĚĞƉƌĞĐŝĂƟŽŶƚŚĂƚǁĂƐŶŽƚƌĞĐŽŐŶŝƐĞĚǁŚĞŶƚŚĞƉƌŽƉĞƌƟĞƐǁĞƌĞĐůĂƐƐŝĮĞĚĂƐŚĞůĚĨŽƌƐĂůĞ͘dŚĞƌĞŵĂŝŶŝŶŐƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚ
ĞƋƵŝƉŵĞŶƚŚĞůĚĨŽƌƐĂůĞƌĞůĂƚĞƐƚŽĂƉƌŽƉĞƌƚLJŝŶƵƐƚƌĂůŝĂ͘

ď͘ ŝƐƉŽƐĂůŐƌŽƵƉƐ

 KŶϮϵ:ƵŶĞϮϬϭϴ^ŝŵĞĂƌďLJKǀĞƌƐĞĂƐ;,<Ϳ>ŝŵŝƚĞĚĞŶƚĞƌĞĚŝŶƚŽĂƐŚĂƌĞƉƵƌĐŚĂƐĞĂŐƌĞĞŵĞŶƚ;^WͿǁŝƚŚ^ŚĂŶĚŽŶŐtĂƚĞƌ
ŶǀŝƌŽŶŵĞŶƚĂůWƌŽƚĞĐƟŽŶ'ƌŽƵƉŽ͘>ƚĚƚŽĚŝǀĞƐƚŝƚƐĞŶƟƌĞϭϬϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶtĞŝĨĂŶŐ^ŝŵĞĂƌďLJtĂƚĞƌDĂŶĂŐĞŵĞŶƚ
Ž͘>ƚĚ͕;t^tĂƚĞƌͿ͕ĂŶŝŶĚŝƌĞĐƚǁŚŽůůLJͲŽǁŶĞĚƐƵďƐŝĚŝĂƌLJŽĨ^ŝŵĞĂƌďLJĨŽƌĂƚŽƚĂůĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨh^ϲϴŵŝůůŝŽŶ
;ĞƋƵŝǀĂůĞŶƚƚŽZDϰϱϬŵŝůůŝŽŶŽƌĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϳϱŵŝůůŝŽŶͿ͕ƐƵďũĞĐƚƚŽƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐŽĨƚŚĞ^W͘ĐĐŽƌĚŝŶŐůLJ͕ƚŚĞ
t^tĂƚĞƌŚĂƐďĞĞŶƌĞĐůĂƐƐŝĮĞĚĂƐĂĚŝƐƉŽƐĂůŐƌŽƵƉƵŶĚĞƌĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞĂŶĚůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌ
ƐĂůĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͘

dŚĞĂƐƐĞƚƐĂŶĚƚŚĞĂƐƐŽĐŝĂƚĞĚůŝĂďŝůŝƟĞƐŚĞůĚĨŽƌƐĂůĞͬĚŝƐƚƌŝďƵƟŽŶĂƐĂƚϯϬ:ƵŶĞĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
WSD Water ^WůĂŶƚĂƟŽŶ SD Property Total
ƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 149 ϭϴ͕Ϭϴϵ ϵϭϱ ϭϵ͕ϬϬϰ
WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐĂŶĚŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ 35 ϲϰϯ ϰϱϱ ϭ͕Ϭϵϴ
:ŽŝŶƚǀĞŶƚƵƌĞƐ͕ĂƐƐŽĐŝĂƚĞƐĂŶĚŝŶǀĞƐƚŵĞŶƚƐ – ϲϱϴ Ϯ͕ϰϮϭ ϯ͕Ϭϳϵ
Inventories 1 ϭ͕ϰϳϬ ϳϵϳ Ϯ͕Ϯϲϳ
ŝŽůŽŐŝĐĂůĂƐƐĞƚƐ – ϭϵϵ – ϭϵϵ
WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ – – ϯ͕ϱϳϮ ϯ͕ϱϳϮ
ZĞĐĞŝǀĂďůĞƐ 26 Ϯ͕ϰϰϰ ϵϱϲ ϯ͕ϰϬϬ
ĂƐŚŚĞůĚƵŶĚĞƌ,ŽƵƐŝŶŐĞǀĞůŽƉŵĞŶƚ
ĐĐŽƵŶƚƐ͕ďĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚ 19 ϳϭϴ ϭ͕ϭϯϬ ϭ͕ϴϰϴ
Other assets 4 ϰ͕ϴϵϴ ϯ͕ϭϬϰ ϴ͕ϬϬϮ
234 Ϯϵ͕ϭϭϵ ϭϯ͕ϯϱϬ ϰϮ͕ϰϲϵ

>ŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ
ŽƌƌŽǁŝŶŐƐ – ϳ͕ϴϯϭ Ϯ͕ϬϴϮ ϵ͕ϵϭϯ
WĂLJĂďůĞƐ 15 ϭ͕ϲϵϴ ϭ͕ϳϲϰ ϯ͕ϰϲϮ
ŽŶƚƌĂĐƚĂŶĚĚĞƌŝǀĂƟǀĞůŝĂďŝůŝƟĞƐ – ϲϭ ϯϳϯ ϰϯϰ
KƚŚĞƌůŝĂďŝůŝƟĞƐ 28 ϯ͕ϭϬϴ ϯϳϯ ϯ͕ϰϴϭ
43 ϭϮ͕ϲϵϴ ϰ͕ϱϵϮ ϭϳ͕ϮϵϬ

 ƐĂƚϯϬ:ƵŶĞϮϬϭϳ͕ƚŚĞĂďŽǀĞƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ͕ŝŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ͕ůĂŶĚŚĞůĚĨŽƌƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ͕
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĐŽƐƚƐ͕ƌĞĐĞŝǀĂďůĞƐĂŶĚĐŽŶƚƌĂĐƚĂƐƐĞƚƐǁŝƚŚĂƚŽƚĂůĐĂƌƌLJŝŶŐĂŵŽƵŶƚŽĨZDϱϬϮŵŝůůŝŽŶǁĞƌĞƉůĞĚŐĞĚĂƐ
ƐĞĐƵƌŝƚLJĨŽƌĐĞƌƚĂŝŶďŽƌƌŽǁŝŶŐƐĐůĂƐƐŝĮĞĚƵŶĚĞƌůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞĂƐĂƚƚŚĂƚĚĂƚĞ͘

page 222 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

37 SHARE CAPITAL

'ƌŽƵƉͬŽŵƉĂŶLJ
EƵŵďĞƌŽĨƐŚĂƌĞƐ;ŵŝůůŝŽŶͿ ^ŚĂƌĞĐĂƉŝƚĂů
2018 2017 2018 2017
/ƐƐƵĞĚĂŶĚĨƵůůLJƉĂŝĚƵƉ͗
KƌĚŝŶĂƌLJƐŚĂƌĞƐ
ƚϭ:ƵůLJ 6,801 ϲ͕ϯϮϳ 9,299 ϯ͕ϭϲϰ
/ƐƐƵĞĚĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ – ϰϳϰ – Ϯϯϲ
dƌĂŶƐĨĞƌĨƌŽŵƐŚĂƌĞƉƌĞŵŝƵŵ – – – ϱ͕ϴϵϵ
ƚϯϬ:ƵŶĞ 6,801 ϲ͕ϴϬϭ 9,299 ϵ͕Ϯϵϵ

ϯϴ WZ&KZDEͳ^DW>Kz^,Z^,D

 dŚĞŽŵƉĂŶLJ͛ƐWĞƌĨŽƌŵĂŶĐĞͲĂƐĞĚŵƉůŽLJĞĞ^ŚĂƌĞ^ĐŚĞŵĞ;W^^ͿŝƐŐŽǀĞƌŶĞĚďLJƚŚĞďLJͲůĂǁƐĂƉƉƌŽǀĞĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐĂƚƚŚĞ
džƚƌĂŽƌĚŝŶĂƌLJ'ĞŶĞƌĂůDĞĞƟŶŐŚĞůĚŽŶϴEŽǀĞŵďĞƌϮϬϭϮĂŶĚǁĂƐĞīĞĐƚĞĚŽŶϭϱ:ĂŶƵĂƌLJϮϬϭϯ͘hŶĚĞƌƚŚĞW^^͕ŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶ
ƚŚĞŽŵƉĂŶLJ;^ŝŵĞĂƌďLJ^ŚĂƌĞƐͿĂƌĞŐƌĂŶƚĞĚƚŽĞůŝŐŝďůĞĞŵƉůŽLJĞĞƐĂŶĚĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌƐŽĨƚŚĞ'ƌŽƵƉ͘

 dŚĞŐƌĂŶƚƐƵŶĚĞƌƚŚĞW^^ĐŽŵƉƌŝƐĞƚŚĞ'ƌŽƵƉWĞƌĨŽƌŵĂŶĐĞ^ŚĂƌĞ;'W^Ϳ͕ƚŚĞŝǀŝƐŝŽŶWĞƌĨŽƌŵĂŶĐĞ^ŚĂƌĞ;W^ͿĂŶĚƚŚĞ'ĞŶĞƌĂů
ŵƉůŽLJĞĞ^ŚĂƌĞ;'^Ϳ͘

 dŚĞƐĂůŝĞŶƚĨĞĂƚƵƌĞƐŽĨƚŚĞW^^ĂƌĞĂƐĨŽůůŽǁƐ͗

Ă͘ ůŝŐŝďůĞĞŵƉůŽLJĞĞƐĂƌĞƚŚŽƐĞĞdžĞĐƵƟǀĞƐ;ŝŶĐůƵĚŝŶŐĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌƐͿŽĨƚŚĞ'ƌŽƵƉ;ŽƚŚĞƌƚŚĂŶĚŽƌŵĂŶƚƐƵďƐŝĚŝĂƌŝĞƐͿǁŚŽ
ŚĂǀĞĂƩĂŝŶĞĚƚŚĞĂŐĞŽĨϭϴLJĞĂƌƐ͖ĞŶƚĞƌĞĚŝŶƚŽĂĨƵůůͲƟŵĞŽƌĮdžĞĚͲƚĞƌŵĐŽŶƚƌĂĐƚŽĨĞŵƉůŽLJŵĞŶƚǁŝƚŚĂŶĚŝƐŽŶƚŚĞƉĂLJƌŽůů
ŽĨĂĐŽŵƉĂŶLJǁŝƚŚŝŶƚŚĞ'ƌŽƵƉ͖ŚĂǀĞŶŽƚƐĞƌǀĞĚŶŽƟĐĞŽĨƌĞƐŝŐŶĂƟŽŶŽƌƌĞĐĞŝǀĞĚŶŽƟĐĞŽĨƚĞƌŵŝŶĂƟŽŶŽŶƚŚĞĚĂƚĞŽĨƚŚĞ
ŽīĞƌ͖ǁŚŽƐĞƐĞƌǀŝĐĞͬĞŵƉůŽLJŵĞŶƚŚĂǀĞďĞĞŶĐŽŶĮƌŵĞĚŝŶǁƌŝƟŶŐ͖ĂŶĚŚĂǀĞĨƵůĮůůĞĚŽƚŚĞƌĞůŝŐŝďŝůŝƚLJĐƌŝƚĞƌŝĂǁŚŝĐŚŚĂƐďĞĞŶ
ĚĞƚĞƌŵŝŶĞĚďLJƚŚĞEŽŵŝŶĂƟŽŶΘZĞŵƵŶĞƌĂƟŽŶŽŵŵŝƩĞĞ;EZͿĂƚŝƚƐƐŽůĞĂŶĚĂďƐŽůƵƚĞĚŝƐĐƌĞƟŽŶĨƌŽŵƟŵĞƚŽƟŵĞ͘

ď͘ dŚĞƚŽƚĂůŶƵŵďĞƌŽĨ^ŝŵĞĂƌďLJ^ŚĂƌĞƐƚŽďĞĂůůŽĐĂƚĞĚƚŽĂŶĞŵƉůŽLJĞĞƐŚĂůůŶŽƚďĞŵŽƌĞƚŚĂŶϭϬйŽĨƚŚĞ^ŝŵĞĂƌďLJ
^ŚĂƌĞƐŵĂĚĞĂǀĂŝůĂďůĞƵŶĚĞƌƚŚĞW^^ŝĨƚŚĞĞŵƉůŽLJĞĞĞŝƚŚĞƌƐŝŶŐůLJŽƌĐŽůůĞĐƟǀĞůLJƚŚƌŽƵŐŚƉĞƌƐŽŶƐĐŽŶŶĞĐƚĞĚǁŝƚŚƚŚĞƐĂŝĚ
ĞŵƉůŽLJĞĞ͕ŚŽůĚƐϮϬйŽƌŵŽƌĞŽĨƚŚĞŽŵƉĂŶLJ͛ƐŝƐƐƵĞĚĂŶĚƉĂŝĚƵƉƐŚĂƌĞĐĂƉŝƚĂů͘

Đ͘ dŚĞŵĂdžŝŵƵŵŶƵŵďĞƌŽĨ^ŝŵĞĂƌďLJ^ŚĂƌĞƐƚŽďĞĂůůŽƩĞĚĂŶĚŝƐƐƵĞĚƵŶĚĞƌƚŚĞW^^ƐŚĂůůŶŽƚďĞŵŽƌĞƚŚĂŶŝŶĂŐŐƌĞŐĂƚĞ
ϭϬйŽĨƚŚĞŝƐƐƵĞĚĂŶĚƉĂŝĚͲƵƉŽƌĚŝŶĂƌLJƐŚĂƌĞĐĂƉŝƚĂůŽĨƚŚĞŽŵƉĂŶLJĂƚĂŶLJƉŽŝŶƚŝŶƟŵĞĚƵƌŝŶŐƚŚĞĚƵƌĂƟŽŶŽĨƚŚĞW^^͘

Ě͘ dŚĞW^^ƐŚĂůůďĞŝŶĨŽƌĐĞĨŽƌĂƉĞƌŝŽĚŽĨϭϬLJĞĂƌƐĐŽŵŵĞŶĐŝŶŐĨƌŽŵƚŚĞĞīĞĐƟǀĞĚĂƚĞŽĨŝŵƉůĞŵĞŶƚĂƟŽŶ͘

Ğ͘ dŚĞŶĞǁ^ŝŵĞĂƌďLJ^ŚĂƌĞƐƚŽďĞĂůůŽƩĞĚĂŶĚŝƐƐƵĞĚƉƵƌƐƵĂŶƚƚŽƚŚĞW^^ƐŚĂůů͕ƵƉŽŶĂůůŽƚŵĞŶƚĂŶĚŝƐƐƵĂŶĐĞ͕ƌĂŶŬƉĂƌŝƉĂƐƐƵ
ŝŶĂůůƌĞƐƉĞĐƚƐǁŝƚŚƚŚĞƚŚĞŶĞdžŝƐƟŶŐŝƐƐƵĞĚ^ŝŵĞĂƌďLJ^ŚĂƌĞƐĂŶĚƐŚĂůůďĞĞŶƟƚůĞĚƚŽĂŶLJƌŝŐŚƚƐ͕ĚŝǀŝĚĞŶĚƐ͕ĂůůŽƚŵĞŶƚƐĂŶĚͬŽƌ
ĚŝƐƚƌŝďƵƟŽŶƐĂƩĂĐŚĞĚƚŚĞƌĞƚŽĂŶĚͬŽƌǁŚŝĐŚŵĂLJďĞĚĞĐůĂƌĞĚ͕ŵĂĚĞŽƌƉĂŝĚƚŽƚŚĞŽŵƉĂŶLJ͛ƐƐŚĂƌĞŚŽůĚĞƌƐ͕ƉƌŽǀŝĚĞĚƚŚĂƚƚŚĞ
ƌĞůĞǀĂŶƚĂůůŽƚŵĞŶƚĚĂƚĞŽĨƐƵĐŚŶĞǁƐŚĂƌĞƐŝƐďĞĨŽƌĞƚŚĞƌĞĐŽƌĚĚĂƚĞ;ĂƐĚĞĮŶĞĚŝŶƚŚĞW^^LJͲ>ĂǁƐͿĨŽƌĂŶLJƌŝŐŚƚ͕ĂůůŽƚŵĞŶƚ
ŽƌĚŝƐƚƌŝďƵƟŽŶ͘

Ĩ͘ /ĨƚŚĞEZƐŽĚĞĐŝĚĞƐ;ďƵƚŶŽƚŽƚŚĞƌǁŝƐĞͿ͕ŝŶƚŚĞĞǀĞŶƚŽĨĂŶLJĂůƚĞƌĂƟŽŶŝŶƚŚĞĐĂƉŝƚĂůƐƚƌƵĐƚƵƌĞŽĨƚŚĞŽŵƉĂŶLJĚƵƌŝŶŐƚŚĞ
ĚƵƌĂƟŽŶŽĨƚŚĞW^^͕ƐƵĐŚĐŽƌƌĞƐƉŽŶĚŝŶŐĂůƚĞƌĂƟŽŶƐ;ŝĨĂŶLJͿŵĂLJďĞŵĂĚĞŝŶƚŚĞŶƵŵďĞƌŽĨƵŶǀĞƐƚĞĚ^ŝŵĞĂƌďLJ^ŚĂƌĞƐĂŶĚͬ
ŽƌƚŚĞŵĞƚŚŽĚĂŶĚͬŽƌŵĂŶŶĞƌŝŶƚŚĞǀĞƐƟŶŐŽĨƚŚĞ^ŝŵĞĂƌďLJ^ŚĂƌĞƐĐŽŵƉƌŝƐĞĚŝŶĂŐƌĂŶƚ͘

ANNUAL REPORT 2018 page 223

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϯϴ WZ&KZDEͳ^DW>Kz^,Z^,DΈKEd/EhΉ

 dŚĞƐŚĂƌĞƐŐƌĂŶƚĞĚǁŝůůďĞǀĞƐƚĞĚŽŶůLJƵƉŽŶĨƵůĮůŵĞŶƚŽĨǀĞƐƟŶŐĐŽŶĚŝƟŽŶƐǁŚŝĐŚŝŶĐůƵĚĞĂĐŚŝĞǀĞŵĞŶƚŽĨƐĞƌǀŝĐĞƉĞƌŝŽĚĂŶĚ
ƉĞƌĨŽƌŵĂŶĐĞƚĂƌŐĞƚƐĂƐĨŽůůŽǁƐ͗

sĞƐƟŶŐĐŽŶĚŝƟŽŶƐ
WĞƌĨŽƌŵĂŶĐĞŵĞƚƌŝĐƐ
dLJƉĞŽĨŐƌĂŶƚ
GPS DPS GES
 'ƌŽƵƉ>ŽŶŐdĞƌŵ/ŶĐĞŶƟǀĞ  ŝǀŝƐŝŽŶͬ'ƌŽƵƉ>d/WƐĐŽƌĞĐĂƌĚ  ŝǀŝƐŝŽŶͬ'ƌŽƵƉ>d/WƐĐŽƌĞĐĂƌĚ
WůĂŶ;>d/WͿƐĐŽƌĞĐĂƌĚ;ĮŶĂŶĐŝĂů ;ĮŶĂŶĐŝĂůĂŶĚƐƚƌĂƚĞŐŝĐƚĂƌŐĞƚƐͿ ;ĮŶĂŶĐŝĂůĂŶĚƐƚƌĂƚĞŐŝĐƚĂƌŐĞƚƐͿ
ƚĂƌŐĞƚƐͿĂŶĚĂďƐŽůƵƚĞĂŶĚ
ƌĞůĂƟǀĞƚŽƚĂůƐŚĂƌĞŚŽůĚĞƌƐ͛
ƌĞƚƵƌŶŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ

sĞƐƟŶŐƉĞƌŝŽĚ  ^ĞĐŽŶĚŐƌĂŶƚ
Ͳ ŽǀĞƌĂϯͲLJĞĂƌƉĞƌŝŽĚĨƌŽŵƚŚĞĐŽŵŵĞŶĐĞŵĞŶƚĚĂƚĞŽĨϭ:ƵůLJϮϬϭϰ͕ǁŝƚŚƌĞƚĞƐƚƟůůϯϬ:ƵŶĞϮϬϭϵ
ŽŶůLJĨŽƌ'W^

 ĞƉĞŶĚŝŶŐŽŶƚŚĞůĞǀĞůŽĨĂĐŚŝĞǀĞŵĞŶƚŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞƚĂƌŐĞƚƐĂƐĚĞƚĞƌŵŝŶĞĚďLJƚŚĞEZ͕ƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨƐŚĂƌĞƐǁŚŝĐŚǁŝůů
ǀĞƐƚŵĂLJďĞůŽǁĞƌŽƌŚŝŐŚĞƌƚŚĂŶƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨƐŚĂƌĞƐŐƌĂŶƚĞĚ͘

 dŚĞŵŽǀĞŵĞŶƚƐŝŶƚŚĞŶƵŵďĞƌŽĨ^ŝŵĞĂƌďLJ^ŚĂƌĞƐŐƌĂŶƚĞĚƵŶĚĞƌƚŚĞW^^ƚŽƚŚĞ'ƌŽƵƉ͛ƐĂŶĚƚŚĞŽŵƉĂŶLJ͛ƐĞůŝŐŝďůĞĞŵƉůŽLJĞĞƐ
ĂƌĞĂƐĨŽůůŽǁƐ͗

Fair value At At
at grant date 1 July 2017 >ĂƉƐĞĚ 30 June 2018
(RM) ‘000 ‘000 ‘000
'ƌŽƵƉ
^ĞĐŽŶĚŐƌĂŶƚ
'W^ ϳ͘Ϯϰ ϯ͕ϭϲϬ ;ϯ͕ϭϲϬͿ –
W^ ϴ͘ϭϴ ϰ͕Ϯϱϱ ;ϰ͕ϮϱϱͿ –
'^ ϴ͘ϭϴ ϰ͕ϯϱϲ ;ϰ͕ϯϱϲͿ –

ŽŵƉĂŶLJ
^ĞĐŽŶĚŐƌĂŶƚ
'^ ϴ͘ϭϴ Ϯ ;ϮͿ –

 dŚĞƐĞĐŽŶĚŐƌĂŶƚĂǁĂƌĚĞĚŽŶϮϬKĐƚŽďĞƌϮϬϭϰŚĂƐƌĞĂĐŚĞĚƚŚĞĞŶĚŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞƉĞƌŝŽĚŽŶϯϬ:ƵŶĞϮϬϭϳĂŶĚƚŚĞEZŚĂƐŽŶ
ϮϯƵŐƵƐƚϮϬϭϳĂƉƉƌŽǀĞĚƚŚĞŶŽŶͲǀĞƐƟŶŐĂƐƚŚĞƉĞƌĨŽƌŵĂŶĐĞĐŽŶĚŝƟŽŶƐǁĞƌĞŶŽƚŵĞƚ͘

 KŶϮϵƵŐƵƐƚϮϬϭϴ͕ƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐĂƉƉƌŽǀĞĚĨŽƌƚŚĞ>ŽŶŐdĞƌŵ/ŶĐĞŶƟǀĞWůĂŶƚŽďĞƌĞǀŝƐĞĚ͘dŚĞƌĞǀŝƐĞĚƉůĂŶŝƐďĞŝŶŐĮŶĂůŝƐĞĚ
ĂŶĚŝƐĞdžƉĞĐƚĞĚƚŽďĞŝŵƉůĞŵĞŶƚĞĚŝŶƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚŝŶŐϯϬ:ƵŶĞϮϬϭϵ͘

page 224 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

39 RESERVES

dŚĞ'ƌŽƵƉ͛ƐƌĞƐĞƌǀĞƐĐŽŵƉƌŝƐĞ͗

EĂƚƵƌĞ ĞƐĐƌŝƉƟŽŶ
ĂƉŝƚĂůƌĞƐĞƌǀĞ ƌŝƐŝŶŐĨƌŽŵŶŽŶͲĚŝƐƚƌŝďƵƚĂďůĞƌĞƐĞƌǀĞƐ

>ĞŐĂůƌĞƐĞƌǀĞ ƌŝƐŝŶŐĨƌŽŵƐƚĂƚƵƚŽƌLJƌĞƋƵŝƌĞŵĞŶƚƐŽĨĐŽƵŶƚƌŝĞƐǁŚĞƌĞƚŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐ͘^ƵďƐŝĚŝĂƌŝĞƐĞƐƚĂďůŝƐŚĞĚ
ŝŶŚŝŶĂĂƌĞƌĞƋƵŝƌĞĚƚŽŵĂŝŶƚĂŝŶĐĞƌƚĂŝŶƐƚĂƚƵƚŽƌLJƌĞƐĞƌǀĞƐďLJƚƌĂŶƐĨĞƌƌŝŶŐĨƌŽŵƚŚĞŝƌƉƌŽĮƚĂŌĞƌ
ƚĂdžĂƟŽŶŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƌĞůĞǀĂŶƚůĂǁƐĂŶĚƌĞŐƵůĂƟŽŶƐĂŶĚ͕ŝĨĂƉƉůŝĐĂďůĞ͕ƚŚĞĂƌƟĐůĞƐŽĨ
ĂƐƐŽĐŝĂƟŽŶŽĨƐƵďƐŝĚŝĂƌŝĞƐŝŶŚŝŶĂ͕ďĞĨŽƌĞĂŶLJĚŝǀŝĚĞŶĚŝƐĚĞĐůĂƌĞĚĂŶĚƉĂŝĚ

,ĞĚŐŝŶŐƌĞƐĞƌǀĞ ƌŝƐŝŶŐĨƌŽŵĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĚĞƌŝǀĂƟǀĞƐƵŶĚĞƌĐĂƐŚŇŽǁŚĞĚŐĞ

ǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞƌĞƐĞƌǀĞ ƌŝƐŝŶŐĨƌŽŵĐŚĂŶŐĞƐŝŶĨĂŝƌǀĂůƵĞŽĨĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞŝŶǀĞƐƚŵĞŶƚƐ

džĐŚĂŶŐĞƌĞƐĞƌǀĞ ƌŝƐŝŶŐĨƌŽŵĞdžĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐŽŶƌĞƚƌĂŶƐůĂƟŽŶŽĨƚŚĞŶĞƚŝŶǀĞƐƚŵĞŶƚƐŝŶĨŽƌĞŝŐŶŽƉĞƌĂƟŽŶƐ

ǀĂŝůĂďůĞͲ
Group Capital Legal Hedging ĨŽƌͲƐĂůĞ džĐŚĂŶŐĞ
2018 ƌĞƐĞƌǀĞ ƌĞƐĞƌǀĞ ƌĞƐĞƌǀĞ ƌĞƐĞƌǀĞ ƌĞƐĞƌǀĞ Total
ƚϭ:ƵůLJϮϬϭϳ 207 74 (39) 48 1,058 1,348
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ
΀EŽƚĞϮϬ΁ – – 22 (45) (954) (977)
dƌĂŶƐĨĞƌĨƌŽŵƌĞƚĂŝŶĞĚƉƌŽĮƚƐ – 13 – – – 13
^ŚĂƌĞŽĨĐĂƉŝƚĂůƌĞƐĞƌǀĞ (4) – – – – (4)
ZĞĐůĂƐƐŝĮĐĂƟŽŶƵƉŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶ
ŽĨƐƵďƐŝĚŝĂƌŝĞƐƚŽƌĞƚĂŝŶĞĚƉƌŽĮƚƐ (14) (25) – – – (39)
ƚϯϬ:ƵŶĞϮϬϭϴ 189 62 (17) 3 104 341

2017
ƚϭ:ƵůLJϮϬϭϲ ϮϭϮ ϲϵ ;ϲϴͿ ϱϰ ϯϱϲ ϲϮϯ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞͬ;ůŽƐƐͿ
΀EŽƚĞϮϬ΁ – – Ϯϵ ;ϲͿ ϳϬϮ ϳϮϱ
dƌĂŶƐĨĞƌ;ƚŽͿͬĨƌŽŵƌĞƚĂŝŶĞĚƉƌŽĮƚƐ ;ϲϯͿ ϱ – – – ;ϱϴͿ
dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŽǁŶĞƌƐ͗
Ͳ ĂĐƋƵŝƐŝƟŽŶŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐ
interests ϱϴ – – – – ϱϴ
ƚϯϬ:ƵŶĞϮϬϭϳ ϮϬϳ ϳϰ ;ϯϵͿ ϰϴ ϭ͕Ϭϱϴ ϭ͕ϯϰϴ

ANNUAL REPORT 2018 page 225

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

40 PERPETUAL SUKUK

 KŶϮϰDĂƌĐŚϮϬϭϲ͕ƚŚĞŽŵƉĂŶLJŵĂĚĞŝƚƐĮƌƐƚŝƐƐƵĂŶĐĞŽĨZDϮ͘ϮďŝůůŝŽŶŶŽŵŝŶĂůǀĂůƵĞŽĨWĞƌƉĞƚƵĂů^ƵďŽƌĚŝŶĂƚĞĚ^ƵŬƵŬ;ƉĞƌƉĞƚƵĂů
ƐƵŬƵŬͿƉƵƌƐƵĂŶƚƚŽƚŚĞZDϯ͘ϬďŝůůŝŽŶWĞƌƉĞƚƵĂů^ƵďŽƌĚŝŶĂƚĞĚ^ƵŬƵŬWƌŽŐƌĂŵŵĞ͘KŶϮϯ:ƵŶĞϮϬϭϳ͕ƚŚĞƉĞƌƉĞƚƵĂůƐƵŬƵŬǁĂƐŶŽǀĂƚĞĚ
ĨƌŽŵ^ŝŵĞĂƌďLJĞƌŚĂĚƚŽ^WůĂŶƚĂƟŽŶĨŽůůŽǁŝŶŐƚŚĞĐŽŶƐĞŶƚŽďƚĂŝŶĞĚĂƚƚŚĞdžƚƌĂŽƌĚŝŶĂƌLJ'ĞŶĞƌĂůDĞĞƟŶŐŽĨƚŚĞƉĞƌƉĞƚƵĂů
ƐƵŬƵŬŚŽůĚĞƌƐŚĞůĚŽŶϭϲ:ƵŶĞϮϬϭϳ͘

 dŚĞƉĞƌƉĞƚƵĂůƐƵŬƵŬŝƐĂĐĐŽƵŶƚĞĚĂƐĞƋƵŝƚLJĂƐƚŚĞƌĞŝƐŶŽĐŽŶƚƌĂĐƚƵĂůŽďůŝŐĂƟŽŶƚŽƌĞĚĞĞŵƚŚĞŝŶƐƚƌƵŵĞŶƚ͘dŚĞWƌŽŐƌĂŵŵĞŝƐƌĂƚĞĚ
AA/^ďLJƚŚĞDĂůĂLJƐŝĂŶZĂƟŶŐŽƌƉŽƌĂƟŽŶĞƌŚĂĚ͘

 dŚĞƐĂůŝĞŶƚĨĞĂƚƵƌĞƐŽĨƚŚĞƉĞƌƉĞƚƵĂůƐƵŬƵŬĂƌĞĂƐĨŽůůŽǁƐ͗

Ă͘ hŶƐĞĐƵƌĞĚĂŶĚŝƐŝƐƐƵĞĚƵŶĚĞƌƚŚĞ/ƐůĂŵŝĐƉƌŝŶĐŝƉůĞŽĨtĂŬĂůĂŚŝůͲ/ƐƟƚŚŵĂƌ;͞^ƵŬƵŬtĂŬĂůĂŚ͟ͿǁŚĞƌĞ^WůĂŶƚĂƟŽŶŵĂŶĂŐĞƐ
ĂtĂŬĂůĂŚƉŽƌƞŽůŝŽŽŶďĞŚĂůĨŽĨƚŚĞƉĞƌƉĞƚƵĂůƐƵŬƵŬŚŽůĚĞƌƐ͘dŚĞtĂŬĂůĂŚƉŽƌƞŽůŝŽĐŽŵƉƌŝƐĞƐĂĐŽŵďŝŶĂƟŽŶŽĨŝŶǀĞƐƚŵĞŶƚƐŝŶ
/ũĂƌĂŚĂƐƐĞƚƐĂŶĚŽŵŵŽĚŝƚLJDƵƌĂďĂŚĂŚ͘

ď͘ ĂƌƌŝĞƐĂŶŝŶŝƟĂůĮdžĞĚƉĞƌŝŽĚŝĐĚŝƐƚƌŝďƵƟŽŶƌĂƚĞŽĨϱ͘ϲϱйƉĞƌĂŶŶƵŵƉĂLJĂďůĞŽŶĂƐĞŵŝͲĂŶŶƵĂůďĂƐŝƐŝŶĂƌƌĞĂƌƐ͘dŚĞƉĞƌŝŽĚŝĐ
ĚŝƐƚƌŝďƵƟŽŶƌĂƚĞǁŝůůďĞƌĞƐĞƚŽŶϮϰDĂƌĐŚϮϬϮϲƚŽƚŚĞƚŚĞŶƉƌĞǀĂŝůŝŶŐϭϬʹLJĞĂƌDĂůĂLJƐŝĂŶ'ŽǀĞƌŶŵĞŶƚ^ĞĐƵƌŝƟĞƐ;D'^Ϳ
ďĞŶĐŚŵĂƌŬƌĂƚĞƉůƵƐϭ͘ϳϱй;/ŶŝƟĂů^ƉƌĞĂĚͿĂŶĚϭ͘ϬϬй;^ƚĞƉͲhƉDĂƌŐŝŶͿĂŶĚĂƚĞǀĞƌLJϭϬLJĞĂƌƚŚĞƌĞĂŌĞƌ͘

Đ͘ EŽĮdžĞĚƌĞĚĞŵƉƟŽŶĚĂƚĞďƵƚ^WůĂŶƚĂƟŽŶĂƐƚŚĞŝƐƐƵĞƌŚĂƐƚŚĞŽƉƟŽŶƚŽƌĞĚĞĞŵĂƚƚŚĞĞŶĚŽĨƚŚĞƚĞŶƚŚLJĞĂƌĨƌŽŵƚŚĞĚĂƚĞ
ŽĨŝƐƐƵĞĂŶĚŽŶĞĂĐŚƐƵďƐĞƋƵĞŶƚƐĞŵŝͲĂŶŶƵĂůƉĞƌŝŽĚŝĐĚŝƐƚƌŝďƵƟŽŶĚĂƚĞ͘

Ě͘ dŚĞĞdžƉĞĐƚĞĚƉĞƌŝŽĚŝĐĚŝƐƚƌŝďƵƟŽŶĂŵŽƵŶƚŵĂLJďĞĚĞĨĞƌƌĞĚďLJ^WůĂŶƚĂƟŽŶƚŽƉĞƌƉĞƚƵŝƚLJ͘ƐůŽŶŐĂƐĂŶLJĚĞĨĞƌƌĞĚƉĞƌŝŽĚŝĐ
ĚŝƐƚƌŝďƵƟŽŶŝƐŶŽƚŵĂĚĞŝŶĨƵůůĚƵĞƚŽƚŚĞƉƌŽĮƚĚŝƐƚƌŝďƵƟŽŶĚĞĨĞƌƌĂů͕ŶŽĚŝƐĐƌĞƟŽŶĂƌLJĚŝǀŝĚĞŶĚĚŝƐƚƌŝďƵƟŽŶŽƌŽƚŚĞƌƉĂLJŵĞŶƚ
ĐĂŶďĞĚĞĐůĂƌĞĚďLJ^WůĂŶƚĂƟŽŶŝŶƌĞƐƉĞĐƚŽĨĂŶLJŽĨŝƚƐŽƌĚŝŶĂƌLJƐŚĂƌĞƐ͘

ϰϭ EKEͳKEdZK>>/E'/EdZ^d^͵'ZKhW

 dŚĞƉƌŽĮƚ͕ĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĂŶĚŶĞƚĂƐƐĞƚƐĂƩƌŝďƵƚĂďůĞƚŽŽǁŶĞƌƐŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
WƌŽĮƚĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ 92 ϭϭϵ
KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ůŽƐƐͿͬŝŶĐŽŵĞ (65) ϰϵ
dŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ 27 ϭϲϴ

EĞƚĂƐƐĞƚƐ 389 976

/ŶƚŚĞŽƉŝŶŝŽŶŽĨƚŚĞŝƌĞĐƚŽƌƐ͕ƚŚĞ'ƌŽƵƉŚĂƐŶŽŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐǁŚŝĐŚĂƌĞŵĂƚĞƌŝĂůĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͘

page 226 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

42 BORROWINGS

2018 2017
Group ^ĞĐƵƌĞĚ hŶƐĞĐƵƌĞĚ Total ^ĞĐƵƌĞĚ hŶƐĞĐƵƌĞĚ Total
EŽŶͲĐƵƌƌĞŶƚ
dĞƌŵůŽĂŶƐ΀ŶŽƚĞ;ĂͿ΁ 29 – 29 ϰϯ Ϯϯϭ Ϯϳϰ
/ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ
΀ŶŽƚĞ;ďͿ΁ – – – – ϳϬϬ ϳϬϬ
/ƐůĂŵŝĐĮŶĂŶĐŝŶŐ – 215 215 – ϮϳϮ ϮϳϮ
Finance leases 3 – 3 ϱ – ϱ
32 215 247 ϰϴ ϭ͕ϮϬϯ ϭ͕Ϯϱϭ

ƵƌƌĞŶƚ
ĂŶŬŽǀĞƌĚƌĂŌƐ – 43 43 – ϳϴ ϳϴ
dĞƌŵůŽĂŶƐĚƵĞǁŝƚŚŝŶŽŶĞLJĞĂƌ
΀ŶŽƚĞ;ĂͿ΁ 12 220 232 ϭϮ ϰϲϭ ϰϳϯ
/ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ΀ŶŽƚĞ;ďͿ΁ – – – – ϭ ϭ
^ŚŽƌƚƚĞƌŵ/ƐůĂŵŝĐĮŶĂŶĐŝŶŐ – 549 549 – ϴ ϴ
/ƐůĂŵŝĐĮŶĂŶĐŝŶŐĚƵĞǁŝƚŚŝŶŽŶĞLJĞĂƌ – 55 55 – Ϯϯ Ϯϯ
ZĞǀŽůǀŝŶŐĐƌĞĚŝƚƐ͕ƚƌĂĚĞĨĂĐŝůŝƟĞƐĂŶĚ
ŽƚŚĞƌƐŚŽƌƚͲƚĞƌŵďŽƌƌŽǁŝŶŐƐ – 1,761 1,761 – ϭ͕ϯϲϱ ϭ͕ϯϲϱ
Finance leases 2 – 2 ϲ – ϲ
14 2,628 2,642 ϭϴ ϭ͕ϵϯϲ ϭ͕ϵϱϰ
dŽƚĂůďŽƌƌŽǁŝŶŐƐ 46 2,843 2,889 ϲϲ ϯ͕ϭϯϵ ϯ͕ϮϬϱ

2018 2017
Company hŶƐĞĐƵƌĞĚ hŶƐĞĐƵƌĞĚ
EŽŶͲĐƵƌƌĞŶƚ
/ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ – ϳϬϬ

ƵƌƌĞŶƚ
/ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ – ϭ
dŽƚĂůďŽƌƌŽǁŝŶŐƐ – ϳϬϭ

ANNUAL REPORT 2018 page 227

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϮ KZZKt/E'^ΈKEd/EhΉ

Ă͘ dĞƌŵůŽĂŶƐĂŶĚ/ƐůĂŵŝĐĮŶĂŶĐŝŶŐ

 dŚĞƚĞƌŵůŽĂŶƐĂŶĚ/ƐůĂŵŝĐĮŶĂŶĐŝŶŐŝŶĐůƵĚĞƚŚĞĨŽůůŽǁŝŶŐ͗

Group 2018 2017

hŶƐĞĐƵƌĞĚ ZĞƉĂLJŵĞŶƚdĞƌŵƐ
ZDϮϯϬŵŝůůŝŽŶ ZĞƉĂLJŵĞŶƚĐŽŵŵĞŶĐŝŶŐϯϲŵŽŶƚŚƐĨƌŽŵƚŚĞ 230 ϮϱϬ
;ϮϬϭϳ͗ZDϮϱϬŵŝůůŝŽŶͿ ĚƌĂǁĚŽǁŶĚĂƚĞŽĨϮϳDĂLJϮϬϭϱ͕ĨƵůůLJƌĞƉĂLJĂďůĞďLJ
DĂLJϮϬϮϮ
h^ϰϰŵŝůůŝŽŶ ZĞƉĂLJŵĞŶƚĐŽŵŵĞŶĐŝŶŐϯϲŵŽŶƚŚƐĨƌŽŵƚŚĞ 178 ϱϳϭ
;ϮϬϭϳ͗h^ϭϯϯŵŝůůŝŽŶͿ ĚƌĂǁĚŽǁŶĚĂƚĞŽĨϭϮĞĐĞŵďĞƌϮϬϭϭ͕
ĨƵůůLJƌĞƉĂLJĂďůĞďLJĞĐĞŵďĞƌϮϬϭϴ

ď͘ /ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ;/DdEͿ

 dŚĞ/DdEƐŽƵƚƐƚĂŶĚŝŶŐĂƐĂƚϯϬ:ƵŶĞϮϬϭϳǁĞƌĞĨƵůůLJƌĞƉĂŝĚŽŶϮϯƵŐƵƐƚϮϬϭϳĂŶĚƚŚĞƉƌŽŐƌĂŵŵĞŚĂƐďĞĞŶŶŽǀĂƚĞĚƚŽ
^WƌŽƉĞƌƚLJŝŶ^ĞƉƚĞŵďĞƌϮϬϭϳ͘

Đ͘ KƚŚĞƌŝŶĨŽƌŵĂƟŽŶŽŶďŽƌƌŽǁŝŶŐƐ

ŝ͘ īĞĐƟǀĞŝŶƚĞƌĞƐƚƌĂƚĞƐ
 dŚĞĂǀĞƌĂŐĞĞīĞĐƟǀĞŝŶƚĞƌĞƐƚƌĂƚĞƐŽĨďŽƌƌŽǁŝŶŐƐƉĞƌĂŶŶƵŵĂƌĞĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
% % % %
dĞƌŵůŽĂŶƐĂŶĚ/ƐůĂŵŝĐĮŶĂŶĐŝŶŐĂŌĞƌ
ŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉƐ 4.78 ϰ͘ϳϮ – –
/ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ – ϰ͘ϭϵ – ϰ͘ϭϵ
KƚŚĞƌďŽƌƌŽǁŝŶŐƐ 3.49 Ϯ͘ϴϯ – –

 dŚĞ'ƌŽƵƉ͛ƐŇŽĂƟŶŐƌĂƚĞƚĞƌŵůŽĂŶƐĂŶĚ/ƐůĂŵŝĐĮŶĂŶĐŝŶŐĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐǁŚŝĐŚŚĂǀĞŶŽƚďĞĞŶƐǁĂƉƉĞĚƚŽ
ĮdžĞĚĂŶĚƚŚĂƚĂƌĞƐƵďũĞĐƚƚŽĐŽŶƚƌĂĐƚƵĂůŝŶƚĞƌĞƐƚƌĂƚĞƐƌĞƉƌŝĐŝŶŐǁŝƚŚŝŶϭLJĞĂƌĂŵŽƵŶƚĞĚƚŽZDϯϮϰŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϰϱϱ
ŵŝůůŝŽŶͿ͘

ŝŝ͘ ^ĞĐƵƌĞĚĮŶĂŶĐŝŶŐ
 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ďŽƌƌŽǁŝŶŐƐĂŵŽƵŶƟŶŐƚŽZDϰϭŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϱϱŵŝůůŝŽŶͿĂƌĞƐĞĐƵƌĞĚďLJƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚ
ĞƋƵŝƉŵĞŶƚǁŝƚŚĂĐĂƌƌLJŝŶŐǀĂůƵĞŽĨZDϭϭϵŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭϮϴŵŝůůŝŽŶͿ͘

page 228 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϮ KZZKt/E'^ΈKEd/EhΉ

Đ͘ KƚŚĞƌŝŶĨŽƌŵĂƟŽŶŽŶďŽƌƌŽǁŝŶŐƐ;ĐŽŶƟŶƵĞĚͿ

ŝŝŝ͘ ŝƐĐůŽƐƵƌĞƚŽƚŚĞĐĂƐŚŇŽǁ
 ŚĂŶŐĞŝŶůŝĂďŝůŝƟĞƐĂƌŝƐŝŶŐĨƌŽŵĮŶĂŶĐŝŶŐĂĐƟǀŝƟĞƐ͗

EĞƚŽǀĞƌĚƌĂŌ ĐƋƵŝƐŝƟŽŶŽĨ
repayment ďƵƐŝŶĞƐƐĂŶĚ
Net ĚŝƐĐůŽƐĞĚĂƐ ŶĞƚĐŚĂŶŐĞƐ
At (repayment) ĐĂƐŚĂŶĚĐĂƐŚ ĨƌŽŵŝŶƚĞƌĞƐƚ džĐŚĂŶŐĞ At
Group 1 July 2017 ͬĂĚĚŝƟŽŶ equivalent ƉĂLJĂďůĞƐ ĚŝīĞƌĞŶĐĞƐ ZĞĐůĂƐƐŝĮĐĂƟŽŶ 30 June 2018
EŽŶͲĐƵƌƌĞŶƚ
ďŽƌƌŽǁŝŶŐƐ ϭ͕Ϯϱϭ (768) – – (7) (229) 247
ƵƌƌĞŶƚ
ďŽƌƌŽǁŝŶŐƐ ϭ͕ϵϱϰ 622 (32) 5 (136) 229 2,642
ϯ͕ϮϬϱ (146) (32) 5 (143) – 2,889

Company
EŽŶͲĐƵƌƌĞŶƚ
ďŽƌƌŽǁŝŶŐƐ ϳϬϬ (700) – – – – –
ƵƌƌĞŶƚ
ďŽƌƌŽǁŝŶŐƐ ϭ – – (1) – – –
ϳϬϭ (700) – (1) – – –

ANNUAL REPORT 2018 page 229

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϯ WZKs/^/KE^͵'ZKhW

Liquidated KŶĞƌŽƵƐ
ZŝƐŬ ĂƐĐĞƌƚĂŝŶĞĚ ĐŽŶƚƌĂĐƚƐĂŶĚ
2018 tĂƌƌĂŶƟĞƐ ƐŚĂƌŝŶŐ ĚĂŵĂŐĞƐ ŽƚŚĞƌƐ Total
ƚϭ:ƵůLJϮϬϭϳ 147 18 204 42 411
ĚĚŝƟŽŶƐ 129 25 – 4 158
ZĞǀĞƌƐĂůƐ (27) (26) – – (53)
dƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ – – (12) – (12)
ŚĂƌŐĞĚͬ;ĐƌĞĚŝƚĞĚͿƚŽƉƌŽĮƚŽƌůŽƐƐ 102 (1) (12) 4 93
hƟůŝƐĞĚ (108) (1) – (8) (117)
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ (9) (1) – (4) (14)
ƚϯϬ:ƵŶĞϮϬϭϴ 132 15 192 34 373

Liquidated KŶĞƌŽƵƐ
ZŝƐŬ Development ĂƐĐĞƌƚĂŝŶĞĚ ĐŽŶƚƌĂĐƚƐĂŶĚ
2017 tĂƌƌĂŶƟĞƐ ƐŚĂƌŝŶŐ ĐŽƐƚ ĚĂŵĂŐĞƐ ŽƚŚĞƌƐ Total
ƚϭ:ƵůLJϮϬϭϲ ϮϬϬ ϭϳ Ϯϱϰ ϭϵϭ ϭϯ ϲϳϱ
ĚĚŝƟŽŶƐ ϯϲ ϯϬ – – ϴϬ ϭϰϲ
ZĞǀĞƌƐĂůƐ ;ϰϳͿ ;ϮϬͿ – – ;ϭϯͿ ;ϴϬͿ
dƌĂŶƐůĂƟŽŶĚŝīĞƌĞŶĐĞƐ – – – ϭϯ – ϭϯ
;ƌĞĚŝƚĞĚͿͬĐŚĂƌŐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ ;ϭϭͿ ϭϬ – ϭϯ ϲϳ ϳϵ
ZĞĐŽŐŶŝƐĞĚŝŶƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
costs – – ;ϭϭϴͿ – – ;ϭϭϴͿ
hƟůŝƐĞĚ ;ϰϳͿ ;ϭϬͿ – – – ;ϱϳͿ
džĐŚĂŶŐĞĚŝīĞƌĞŶĐĞƐ ϭϯ ϭ – – – ϭϰ
dƌĂŶƐĨĞƌƌĞĚƚŽůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚ
ǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;ϴͿ – ;ϭϯϲͿ – ;ϯϴͿ ;ϭϴϮͿ
ƚϯϬ:ƵŶĞϮϬϭϳ ϭϰϳ ϭϴ – ϮϬϰ ϰϮ ϰϭϭ

dŚĞƉƌŽǀŝƐŝŽŶƐĂƌĞƐƵďũĞĐƚƚŽƚŚĞĨŽůůŽǁŝŶŐŵĂƚƵƌŝƚLJƉĞƌŝŽĚƐ͗

2018 2017
EŽŶͲĐƵƌƌĞŶƚ
ƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 17 ϯϳ

ƵƌƌĞŶƚ
ƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 356 ϯϳϰ
373 ϰϭϭ

page 230 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϯ WZKs/^/KE^͵'ZKhWΈKEd/EhΉ

Ă͘ tĂƌƌĂŶƟĞƐ

 WƌŽǀŝƐŝŽŶŝƐƌĞĐŽŐŶŝƐĞĚŽŶǁĂƌƌĂŶƟĞƐƉƌŽǀŝĚĞĚĨŽƌƚŚĞƐĂůĞƐŽĨŵĂĐŚŝŶĞƌLJ͕ǀĞŚŝĐůĞƐĂŶĚŽƚŚĞƌƉƌŽĚƵĐƚƐƚŚĂƚĂƌĞŶŽƚĐŽǀĞƌĞĚďLJ
ŵĂŶƵĨĂĐƚƵƌĞƌƐ͛ǁĂƌƌĂŶƟĞƐ͘dŚĞƉƌŽǀŝƐŝŽŶǁĂƐĞƐƟŵĂƚĞĚďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĐůĂŝŵƐĞdžƉĞƌŝĞŶĐĞ͕ĂƐǁĞůůĂƐƌĞĐĞŶƚƚƌĞŶĚƐǁŚŝĐŚ
ĂƌĞŝŶĚŝĐĂƟǀĞŽĨĨƵƚƵƌĞĐůĂŝŵƐ͘

ď͘ ZŝƐŬƐŚĂƌŝŶŐ

 WƌŽǀŝƐŝŽŶŝƐƌĞĐŽŐŶŝƐĞĚĨŽƌƉŽƐƐŝďůĞĨƵƚƵƌĞůŽƐƐĞƐĂƌŝƐŝŶŐĨƌŽŵĐƵƐƚŽŵĞƌĚĞĨĂƵůƚƐƉƵƌƐƵĂŶƚƚŽƚŚĞƌŝƐŬƐŚĂƌŝŶŐĂƌƌĂŶŐĞŵĞŶƚƐ
ĞŶƚĞƌĞĚŝŶƚŽďLJƚŚĞ'ƌŽƵƉǁŝƚŚĂƚĞƌƉŝůůĂƌ;ŚŝŶĂͿ&ŝŶĂŶĐŝĂů>ĞĂƐŝŶŐŽ>ƚĚ͘

Đ͘ KŶĞƌŽƵƐĐŽŶƚƌĂĐƚƐĂŶĚŽƚŚĞƌƐ

 KŶĞƌŽƵƐĐŽŶƚƌĂĐƚƐĂŶĚŽƚŚĞƌƐŝŶĐůƵĚĞƉƌŽǀŝƐŝŽŶĨŽƌŶŽŶͲĐĂŶĐĞůůĂďůĞůĞĂƐĞĐŽŵŵŝƚŵĞŶƚƐŝŶǁŚŝĐŚƚŚĞƵŶĂǀŽŝĚĂďůĞĐŽƐƚƐŽĨ
ŵĞĞƟŶŐƚŚĞŽďůŝŐĂƟŽŶƐĞdžĐĞĞĚƚŚĞĞĐŽŶŽŵŝĐďĞŶĞĮƚƐĞdžƉĞĐƚĞĚƚŽďĞƌĞĐĞŝǀĞĚƵŶĚĞƌƚŚŽƐĞĐŽŶƚƌĂĐƚƐ͘

ϰϰ 'KsZEDEd'ZEd^͵'ZKhW

'ŽǀĞƌŶŵĞŶƚŐƌĂŶƚƐǁĞƌĞƌĞĐĞŝǀĞĚŝŶƌĞůĂƟŽŶƚŽƚŚĞĐŽŶƐƚƌƵĐƟŽŶŽĨƚŚĞƉŽƌƚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚŽƚŚĞƌĨĂĐŝůŝƟĞƐ͘

ƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͕ŐŽǀĞƌŶŵĞŶƚŐƌĂŶƚŽĨZDϲŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϱŵŝůůŝŽŶͿŚĂƐďĞĞŶĂŵŽƌƟƐĞĚƚŽƉƌŽĮƚŽƌůŽƐƐ͘

ϰϱ Wz>^

Group Company
2018 2017 2018 2017
ZĞƐƚĂƚĞĚ
EŽŶͲĐƵƌƌĞŶƚ
ŵƉůŽLJĞĞďĞŶĞĮƚƐ΀ŶŽƚĞ;ĂͿ΁ 10 ϭϬ – –
KƚŚĞƌƐ΀ŶŽƚĞ;ďͿ΁ 44 ϳϬ – –
54 ϴϬ – –

ƵƌƌĞŶƚ
dƌĂĚĞƉĂLJĂďůĞƐ 3,169 Ϯ͕ϲϮϭ – –
ĐĐƌƵĂůƐĂŶĚŽƚŚĞƌƉĂLJĂďůĞƐ
Ͳ ŝŶĚŝƌĞĐƚƚĂdžĞƐƉĂLJĂďůĞ 101 ϭϭϴ – –
Ͳ ŽƚŚĞƌƐ΀ŶŽƚĞ;ĐͿ΁ 1,436 ϭ͕ϱϬϰ 6 ϭϲ
ŵŽƵŶƚƐĚƵĞƚŽũŽŝŶƚǀĞŶƚƵƌĞƐ 54 Ϯϱ – –
4,760 ϰ͕Ϯϲϴ 6 ϭϲ
4,814 ϰ͕ϯϰϴ 6 ϭϲ

ANNUAL REPORT 2018 page 231

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϱ Wz>^ΈKEd/EhΉ

Ă͘ ŵƉůŽLJĞĞďĞŶĞĮƚƐ

/ŶĐůƵĚĞĚŝŶĞŵƉůŽLJĞĞďĞŶĞĮƚƐĂƌĞůŽŶŐƐĞƌǀŝĐĞůĞĂǀĞǁŚŝĐŚĂƌĞƉĂLJĂďůĞƚŽĞŵƉůŽLJĞĞƐŝŶƵƐƚƌĂůŝĂ͘

ď͘ KƚŚĞƌƐ

/ŶĐůƵĚĞĚŝŶŽƚŚĞƌƐĂƌĞĂŵŽƵŶƚƐƉĂLJĂďůĞĨŽƌƐĂůĞĂŶĚďƵLJͲďĂĐŬƚƌĂŶƐĂĐƟŽŶƐŝŶƌĞůĂƟŽŶƚŽ'ƌŽƵƉ͛ƐǀĞŚŝĐůĞůĞĂƐŝŶŐĂĐƟǀŝƟĞƐ͘

Đ͘ ĐĐƌƵĂůƐ

 /ŶĐůƵĚĞĚŝŶĂĐĐƌƵĂůƐĂƌĞĂŵŽƵŶƚƐƉĂLJĂďůĞĨŽƌƚŚĞƉƵƌĐŚĂƐĞŽĨƉƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚŽĨZDϰϯŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϲϭ
ŵŝůůŝŽŶͿ͘

ϰϲ Yh/^/d/KE^

Ă͘ ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ

ĐƋƵŝƐŝƟŽŶŽĨĂďƵƐŝŶĞƐƐ

 KŶϭϯ:ƵŶĞϮϬϭϴ͕^ŝŵĞĂƌďLJDŽƚŽƌƐtŚŽůĞƐĂůĞƐƵƐƚƌĂůŝĂWƚLJ>ƚĚĞŶƚĞƌĞĚŝŶƚŽĂƐĂůĞĂŶĚƉƵƌĐŚĂƐĞĂŐƌĞĞŵĞŶƚƚŽĂĐƋƵŝƌĞĂ
sŽůǀŽĚĞĂůĞƌƐŚŝƉŝŶƵƐƚƌĂůŝĂ͘dŚĞŶĞƚĐĂƐŚŇŽǁĂƌŝƐŝŶŐĨƌŽŵƚŚĞĂĐƋƵŝƐŝƟŽŶŝƐĂƐĨŽůůŽǁƐ͗

EĞƚĂƐƐĞƚƐĂĐƋƵŝƌĞĚ –ϭ
'ŽŽĚǁŝůů Ϯ
WƵƌĐŚĂƐĞĐŽŶƐŝĚĞƌĂƟŽŶͬĐĂƐŚŽƵƞůŽǁŽŶĂĐƋƵŝƐŝƟŽŶ Ϯ

ϭ
 ůĞƐƐƚŚĂŶZDϭŵŝůůŝŽŶ

ď͘ ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ

ŝ͘ ĐƋƵŝƐŝƟŽŶŽĨĂƐƵďƐŝĚŝĂƌLJ

 KŶϮϰEŽǀĞŵďĞƌϮϬϭϳ͕DƵůůŝŐĂŶ/ŶƚĞƌŶĂƟŽŶĂů͘sĂĐƋƵŝƌĞĚϵϬйŝŶƚĞƌĞƐƚŝŶWddĂŵŝLJĂŶŐ^ƵŵďĞƌZĞnjĞŬŝ;Wdd^ZͿĨŽƌĂ
ƚŽƚĂůĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨ/ZϳϴďŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϰŵŝůůŝŽŶͿ͘Wdd^ZŚĂƐďĞĞŶŐƌĂŶƚĞĚǁŝƚŚƚŚĞ,ĂŬ/njŝŶ>ŽŬĂƐŝ
ĂŶĚƚŚĞ/njŝŶhƐĂŚĂWĞƌŬĞďƵŶĂŶŽŶϮϬ͕ϬϬϬŚĞĐƚĂƌĞƐŽĨŐƌĞĞŶĮĞůĚůĂŶĚŝŶ<ĞďƵƉĂƚĞŶĂƌŝƚŽdŝŵƵƌ͕<ĂůŝŵĂŶƚĂŶdĞŶŐĂŚ͕
/ŶĚŽŶĞƐŝĂ͘

 dŚĞŶĞƚĐĂƐŚŽƵƞůŽǁĂƌŝƐŝŶŐĨƌŽŵƚŚĞĂĐƋƵŝƐŝƟŽŶŝƐĂƐĨŽůůŽǁƐ͗

EĞƚĂƐƐĞƚĂĐƋƵŝƌĞĚ ϭ
'ŽŽĚǁŝůů Ϯϯ
WƵƌĐŚĂƐĞĐŽŶƐŝĚĞƌĂƟŽŶ Ϯϰ
>ĞƐƐ͗ ĚĞĨĞƌƌĞĚĐŽŶƐŝĚĞƌĂƟŽŶ ;ϯͿ
ĂƐŚŽƵƞůŽǁŽŶĂĐƋƵŝƐŝƟŽŶ Ϯϭ

page 232 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϲ Yh/^/d/KE^ΈKEd/EhΉ

ď͘ ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ ĐƋƵŝƐŝƟŽŶŽĨĂĚĚŝƟŽŶĂůŝŶƚĞƌĞƐƚŝŶĂŶĂƐƐŽĐŝĂƚĞ

 KŶϵEŽǀĞŵďĞƌϮϬϭϳ͕^ŝŵĞĂƌďLJEĞƚŚĞƌůĂŶĚƐ͘s͘;^EĞƚŚĞƌůĂŶĚƐͿƐƵďƐĐƌŝďĞĚƚŽϯϰϬ͕ϬϵϮ͕ϰϰϵ^ĞƌŝĞƐϱŽŶǀĞƌƟďůĞ
WƌĞĨĞƌƌĞĚ^ƚŽĐŬŝŶsĞƌĚLJnjLJŶĞ͕/ŶĐ͘;sĞƌĚLJnjLJŶĞͿ͘&ŽůůŽǁŝŶŐƚŚĞƐƵďƐĐƌŝƉƟŽŶ͕ƚŚĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŚĞůĚďLJ^EĞƚŚĞƌůĂŶĚƐŝŶ
sĞƌĚLJnjLJŶĞŝŶĐƌĞĂƐĞĚĨƌŽŵϯϲйƚŽϰϯй͘

47 DISPOSALS

Ă͘ ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ

ŝ͘ ŝƐƚƌŝďƵƟŽŶŽĨƐŚĂƌĞƐŝŶ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ

 KŶϮϵEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞŽŵƉĂŶLJĐŽŵƉůĞƚĞĚƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨŝƚƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^WůĂŶƚĂƟŽŶĂŶĚ^
WƌŽƉĞƌƚLJƚŽŝƚƐƐŚĂƌĞŚŽůĚĞƌƐǀŝĂĂĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞ͘&ŽůůŽǁŝŶŐƚŚĞĚŝƐƚƌŝďƵƟŽŶ͕^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJĐĞĂƐĞĚ
ƚŽďĞƐƵďƐŝĚŝĂƌŝĞƐŽĨƚŚĞŽŵƉĂŶLJ͘

 dŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞǁĂƐƌĞĐŽƌĚĞĚďĂƐĞĚŽŶƚŚĞŬǀĂůƵĞŽĨƚŚĞŶĞƚĂƐƐĞƚƐĚĞĐŽŶƐŽůŝĚĂƚĞĚ͕ƐƵŵŵĂƌŝƐĞĚĂƐ
ĨŽůůŽǁƐ͗

ƐƐĞƚƐŽĨĚŝƐƉŽƐĂůŐƌŽƵƉƐ ϰϮ͕ϱϯϲ
>ŝĂďŝůŝƟĞƐŽĨĚŝƐƉŽƐĂůŐƌŽƵƉƐ ;ϭϳ͕ϭϰϵͿ
Ϯϱ͕ϯϴϳ
WĞƌƉĞƚƵĂůƐƵŬƵŬ ;Ϯ͕ϮϭϵͿ
EŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ ;ϱϰϯͿ
ŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞ ϮϮ͕ϲϮϱ

dŚĞĐĂƐŚďĂůĂŶĐĞŽĨƐƵďƐŝĚŝĂƌŝĞƐĚĞĐŽŶƐŽůŝĚĂƚĞĚǁĂƐZDϭ͕ϴϯϴŵŝůůŝŽŶ͘

 &ŽƌƚŚĞŽŵƉĂŶLJ͕ƚŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞŽĨZDϳ͕ϵϬϭŵŝůůŝŽŶǁĂƐƌĞĐŽƌĚĞĚďĂƐĞĚŽŶƚŚĞĐŽƐƚŽĨŝŶǀĞƐƚŵĞŶƚŝŶ^
WůĂŶƚĂƟŽŶ;ZDϭ͕ϭϬϬŵŝůůŝŽŶͿĂŶĚ^WƌŽƉĞƌƚLJ;ZDϲ͕ϴϬϭŵŝůůŝŽŶͿ͘

ANNUAL REPORT 2018 page 233

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϳ /^WK^>^ΈKEd/EhΉ

Ă͘ ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ;ĐŽŶƟŶƵĞĚͿ

ŝŝ͘ ĞĐŽŶƐŽůŝĚĂƟŽŶŽĨĂƐƵďƐŝĚŝĂƌLJ

 KŶϭϱ:ĂŶƵĂƌLJϮϬϭϴ͕ƚŚĞŵĞŵďĞƌƐŚŝƉŽĨzĂLJĂƐĂŶ^ŝŵĞĂƌďLJ;z^ͿǁĂƐĐŚĂŶŐĞĚĨƌŽŵ^ŝŵĞĂƌďLJĞƌŚĂĚĂŶĚ^ŝŵĞ
ĂƌďLJ,ŽůĚŝŶŐĞƌŚĂĚƚŽ^ŝŵĞĂƌďLJĞƌŚĂĚ͕^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJ͘&ŽůůŽǁŝŶŐƚŚĞĐŚĂŶŐĞŝŶŵĞŵďĞƌƐŚŝƉ͕z^
ĐĞĂƐĞĚƚŽďĞĂƐƵďƐŝĚŝĂƌLJĂŶĚďĞĐŽŵĞĂŶĂƐƐŽĐŝĂƚĞŽĨƚŚĞ'ƌŽƵƉ͘

 dŚĞŶĞƚĐĂƐŚŽƵƞůŽǁĂƌŝƐŝŶŐĨƌŽŵƚŚĞĚĞĐŽŶƐŽůŝĚĂƟŽŶŝƐĂƐĨŽůůŽǁƐ͗

EĞƚĂƐƐĞƚƐĚŝƐƉŽƐĞĚ ϲϭ
>ŽƐƐŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶ ;ϲϭͿ
WƌŽĐĞĞĚƐĨƌŽŵĚŝƐƉŽƐĂů͕ŶĞƚŽĨƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐ –
>ĞƐƐ͗ ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚŽĨƐƵďƐŝĚŝĂƌLJĚĞĐŽŶƐŽůŝĚĂƚĞĚ ;ϱϵͿ
EĞƚĐĂƐŚŽƵƞůŽǁŽŶĚĞĐŽŶƐŽůŝĚĂƟŽŶ ;ϱϵͿ

ŝŝŝ͘ ŝƐƉŽƐĂůŽĨĂƐƐŽĐŝĂƚĞƐ

;ĂͿ KŶϭϱĞĐĞŵďĞƌϮϬϭϳ͕,ĂƐƟŶŐƐĞĞƌŝŶŐ;ƵƐƚƌĂůŝĂͿ>ƚĚĐŽŵƉůĞƚĞĚƚŚĞĚŝƐƉŽƐĂůŽĨŝƚƐĞŶƟƌĞϯϵйĞƋƵŝƚLJŝŶƚĞƌĞƐƚ
ŝŶEŽǀĂWŽǁĞƌWƚLJ>ƚĚƚŽWĂĐŝĮĐŶĞƌŐLJ>ƚĚĨŽƌĂƚŽƚĂůĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨhϮŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJ
ZDϲŵŝůůŝŽŶͿ͘dŚĞĚŝƐƉŽƐĂůƌĞƐƵůƚĞĚŝŶĂŐĂŝŶŽĨZDϱŵŝůůŝŽŶ͕ŶĞƚŽĨƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐ͘

;ďͿ KŶϮϮ&ĞďƌƵĂƌLJϮϬϭϴ͕^ŝŵĞĂƌďLJDŽƚŽƌ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚĐŽŵƉůĞƚĞĚƚŚĞĚŝƐƉŽƐĂůŽĨŝƚƐĞŶƟƌĞϰϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚ
ŝŶDƵŶŝĐŚƵƚŽŵŽďŝůĞƐWƚĞ>ƚĚ;DƵŶŝĐŚͿƚŽWƌĞƐƟŐĞĂƌWƚĞ>ƚĚĨŽƌĂĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨ^'ϭ͘EŽŐĂŝŶŽƌůŽƐƐ
ǁĂƐƌĞĐŽŐŶŝƐĞĚĨƌŽŵƚŚĞĚŝƐƉŽƐĂů͘

ď͘ ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ

ŝ͘ ŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ

 KŶϭϵ^ĞƉƚĞŵďĞƌϮϬϭϳ͕^WƌŽƉĞƌƚLJĚŝƐƉŽƐĞĚŽĨŝƚƐĞŶƟƌĞĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶDĂůĂLJƐŝĂ>ĂŶĚĞǀĞůŽƉŵĞŶƚŽŵƉĂŶLJ
ĞƌŚĂĚ;D>ͿĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ͘dŚĞŶĞƚĐĂƐŚŝŶŇŽǁĂƌŝƐŝŶŐĨƌŽŵƚŚĞĚŝƐƉŽƐĂůŝƐĂƐĨŽůůŽǁƐ͗

EĞƚĂƐƐĞƚƐĚŝƐƉŽƐĞĚ ϮϬ
'ĂŝŶŽŶĚŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ ϰϬ
WƌŽĐĞĞĚƐĨƌŽŵĚŝƐƉŽƐĂů͕ŶĞƚŽĨƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐ ϲϬ
>ĞƐƐ͗ ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚŝŶƐƵďƐŝĚŝĂƌŝĞƐĚŝƐƉŽƐĞĚ ;ϭͿ
EĞƚĐĂƐŚŝŶŇŽǁŽŶĚŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐ ϱϵ

ŝŝ͘ ŝƐƉŽƐĂůŽĨĂƐƐŽĐŝĂƚĞƐ

 KŶϮϵ^ĞƉƚĞŵďĞƌϮϬϭϳ͕^WƌŽƉĞƌƚLJĐŽŵƉůĞƚĞĚƚŚĞĚŝƐƉŽƐĂůŽĨŝƚƐĞŶƟƌĞϰϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^ĞƌŝĞŵĂƐĞǀĞůŽƉŵĞŶƚ
^ĚŶĞƌŚĂĚ;^ĞƌŝĞŵĂƐͿƚŽWEĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚĨŽƌĂƚŽƚĂůĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨZDϲϮϱŵŝůůŝŽŶ͘dŚĞĚŝƐƉŽƐĂů
ƌĞƐƵůƚĞĚŝŶĂŐĂŝŶŽĨZDϯϬϳŵŝůůŝŽŶ͕ŶĞƚŽĨƚƌĂŶƐĂĐƟŽŶĐŽƐƚƐ͘&ŽůůŽǁŝŶŐƚŚĞĚŝƐƉŽƐĂů͕^ĞƌŝĞŵĂƐĂŶĚŝƚƐϳϬйŽǁŶĞĚ
ƐƵďƐŝĚŝĂƌLJ͕^ĞƌŝĞŵĂƐZĞƐŽƌƚ^ĚŶĞƌŚĂĚ͕ĐĞĂƐĞĚƚŽďĞĂƐƐŽĐŝĂƚĞƐŽĨ^WƌŽƉĞƌƚLJ͘

page 234 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϴ ^'DEd/E&KZDd/KEͳ'ZKhW

 &ŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶͲŝŶͲƐƉĞĐŝĞŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJŝŶEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞ'ƌŽƵƉ͛ƐŵĂŝŶ
ďƵƐŝŶĞƐƐĞƐĐŽŵƉƌŝƐĞ/ŶĚƵƐƚƌŝĂů͕DŽƚŽƌƐ͕>ŽŐŝƐƟĐƐĂŶĚ,ĞĂůƚŚĐĂƌĞ͘dŚĞ/ŶĚƵƐƚƌŝĂů͕DŽƚŽƌƐĂŶĚ>ŽŐŝƐƟĐƐĚŝǀŝƐŝŽŶƐŽīĞƌĚŝīĞƌĞŶƚ
ƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐ͕ĂŶĚĂƌĞĞĂĐŚŚĞĂĚĞĚďLJĂDĂŶĂŐŝŶŐŝƌĞĐƚŽƌ͘dŚĞŚĞĂůƚŚĐĂƌĞƐĞŐŵĞŶƚĐŽŶƐŝƐƚƐŽĨƚŚĞZĂŵƐĂLJͲ^ŝŵĞĂƌďLJ
,ĞĂůƚŚĂƌĞũŽŝŶƚǀĞŶƚƵƌĞ͘dŚĞ'ƌŽƵƉŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌƌĞǀŝĞǁƐƚŚĞŝŶƚĞƌŶĂůŵĂŶĂŐĞŵĞŶƚƌĞƉŽƌƚƐŽŶĂŵŽŶƚŚůLJďĂƐŝƐĂŶĚ
ĐŽŶĚƵĐƚƐƉĞƌĨŽƌŵĂŶĐĞĚŝĂůŽŐƵĞƐǁŝƚŚƚŚĞďƵƐŝŶĞƐƐƵŶŝƚƐŽŶĂƌĞŐƵůĂƌďĂƐŝƐ͘

 ^ĞŐŵĞŶƚƐĐŽŵƉƌŝƐĞ͗

/ŶĚƵƐƚƌŝĂů ^ĂůĞƐ͕ƌĞŶƚĂůĂŶĚƐĞƌǀŝĐŝŶŐŽĨĞƋƵŝƉŵĞŶƚĂŶĚĞŶŐŝŶĞĞƌŝŶŐƐĞƌǀŝĐĞƐ

DŽƚŽƌƐ ƐƐĞŵďůLJĂŶĚĚŝƐƚƌŝďƵƟŽŶŽĨǀĞŚŝĐůĞƐĂŶĚƚŚĞƉƌŽǀŝƐŝŽŶŽĨĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ

>ŽŐŝƐƟĐƐ DĂŶĂŐĞŵĞŶƚŽĨƉŽƌƚĨĂĐŝůŝƟĞƐĂŶĚƚƌĞĂƚŵĞŶƚĂŶĚĚŝƐƚƌŝďƵƟŽŶŽĨƚƌĞĂƚĞĚǁĂƚĞƌ

,ĞĂůƚŚĐĂƌĞ /ŶǀĞƐƚŵĞŶƚŝŶƚŚĞZĂŵƐĂLJ^ŝŵĞĂƌďLJ,ĞĂůƚŚĂƌĞ'ƌŽƵƉ͕ƉƌŽǀŝĚĞƌƐŽĨŚĞĂůƚŚĐĂƌĞƐĞƌǀŝĐĞƐ

Others /ŶƐƵƌĂŶĐĞďƌŽŬŝŶŐ͕ƉƌŽǀŝƐŝŽŶŽĨƐŚĂƌĞĚƐĞƌǀŝĐĞƐĂŶĚŽƚŚĞƌŐĞŶĞƌĂůŝŶǀĞƐƚŵĞŶƚƐ

 dƌĂŶƐĂĐƟŽŶƐďĞƚǁĞĞŶƐĞŐŵĞŶƚƐĂƌĞĐĂƌƌŝĞĚŽƵƚŽŶĂŐƌĞĞĚƚĞƌŵƐďĞƚǁĞĞŶďŽƚŚƉĂƌƟĞƐ͘dŚĞĞīĞĐƚƐŽĨƐƵĐŚŝŶƚĞƌͲƐĞŐŵĞŶƚ
ƚƌĂŶƐĂĐƟŽŶƐĂƌĞĞůŝŵŝŶĂƚĞĚŽŶĐŽŶƐŽůŝĚĂƟŽŶ͘dŚĞŵĞĂƐƵƌĞŵĞŶƚďĂƐŝƐĂŶĚĐůĂƐƐŝĮĐĂƟŽŶĂƌĞĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚŽƐĞĂĚŽƉƚĞĚŝŶƚŚĞ
ƉƌĞǀŝŽƵƐĮŶĂŶĐŝĂůLJĞĂƌ͘

ANNUAL REPORT 2018 page 235

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϴ ^'DEd/E&KZDd/KE͵'ZKhWΈKEd/EhΉ

Ă͘ ^ĞŐŵĞŶƚƌĞƐƵůƚƐ

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ

2018 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ

^ĞŐŵĞŶƚƌĞǀĞŶƵĞ͗
džƚĞƌŶĂů 13,041 20,341 341
/ŶƚĞƌͲƐĞŐŵĞŶƚ 32 14 –
13,073 20,355 341
^ĞŐŵĞŶƚƌĞƐƵůƚƐ͗
KƉĞƌĂƟŶŐƉƌŽĮƚͬ;ůŽƐƐͿ 609 538 82
^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ 3 5 (8)
WƌŽĮƚͬ;ůŽƐƐͿďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž 612 543 74

/ŶĐůƵĚĞĚŝŶŽƉĞƌĂƟŶŐƉƌŽĮƚͬ;ůŽƐƐͿ
ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ (300) (238) (68)
;/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐĂŶĚǁƌŝƚĞŽīƐͿͬƌĞǀĞƌƐĂůŽĨ
ŝŵƉĂŝƌŵĞŶƚ;ŶĞƚͿ͗
- non-current assets (34) (64) –
Ͳ ƌĞĐĞŝǀĂďůĞƐĂŶĚĐŽŶƚƌĂĐƚĂƐƐĞƚƐ (16) (2) –
'ĂŝŶͬ;ůŽƐƐͿŽŶĚŝƐƉŽƐĂůƐ;ŶĞƚͿ 181 7 –
/ŶǀĞŶƚŽƌLJƉƌŽǀŝƐŝŽŶ;ŶĞƚͿ (87) (201) –

2017
^ĞŐŵĞŶƚƌĞǀĞŶƵĞ͗
džƚĞƌŶĂů ϭϬ͕ϭϮϳ ϮϬ͕ϲϬϮ ϯϬϯ
/ŶƚĞƌͲƐĞŐŵĞŶƚ ϳϬ Ϯϰ –
ϭϬ͕ϭϵϳ ϮϬ͕ϲϮϲ ϯϬϯ
^ĞŐŵĞŶƚƌĞƐƵůƚƐ͗
KƉĞƌĂƟŶŐ;ůŽƐƐͿͬƉƌŽĮƚ ;ϳͿ ϲϮϵ ϲϮ
^ŚĂƌĞŽĨƌĞƐƵůƚƐŽĨũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ ϯ ϰ Ϯ
;>ŽƐƐͿͬƉƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdž ;ϰͿ ϲϯϯ ϲϰ

/ŶĐůƵĚĞĚŝŶŽƉĞƌĂƟŶŐ;ůŽƐƐͿͬƉƌŽĮƚ
ĞƉƌĞĐŝĂƟŽŶĂŶĚĂŵŽƌƟƐĂƟŽŶ ;ϮϰϱͿ ;ϮϰϱͿ ;ϲϵͿ
;/ŵƉĂŝƌŵĞŶƚůŽƐƐĞƐĂŶĚǁƌŝƚĞŽīƐͿͬƌĞǀĞƌƐĂůŽĨ
ŝŵƉĂŝƌŵĞŶƚ;ŶĞƚͿ͗
- non-current assets ;ϮϯϰͿ ;ϮϰͿ –
Ͳ ƌĞĐĞŝǀĂďůĞƐ ϰ ;ϮͿ –
;>ŽƐƐͿͬŐĂŝŶŽŶĚŝƐƉŽƐĂůƐ;ŶĞƚͿ ;ϮͿ ϯϰ ϱ
/ŶǀĞŶƚŽƌLJƉƌŽǀŝƐŝŽŶ;ŶĞƚͿ ;ϱϭͿ ;ϭϱϮͿ –

page 236 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Corporate ŝƐĐŽŶƟŶƵĞĚ
,ĞĂůƚŚĐĂƌĞ KƚŚĞƌƐ and ĞůŝŵŝŶĂƟŽŶ Total ŽƉĞƌĂƟŽŶƐ Total

– 105 – 33,828 6,980 40,808

– 95 (141) – – –
– 200 (141) 33,828 6,980 40,808

– (13) (114) 1,102 1,589 2,691

57 (85) – (28) 111 83
57 (98) (114) 1,074 1,700 2,774

– (9) (6) (621) – (621)

– 1 (2) (99) – (99)

– (25) (1) (44) (7) (51)
– – (51) 137 164 301
– – – (288) (2) (290)

– ϱϱ – ϯϭ͕Ϭϴϳ ϭϲ͕ϵϱϴ ϰϴ͕Ϭϰϱ

– ϭϯϭ ;ϮϮϱͿ – – –
– ϭϴϲ ;ϮϮϱͿ ϯϭ͕Ϭϴϳ ϭϲ͕ϵϱϴ ϰϴ͕Ϭϰϱ

– ϰϭ ϭϯ ϳϯϴ Ϯ͕ϱϰϲ ϯ͕Ϯϴϰ

ϯϲ ϭ – ϰϲ ϮϯϮ Ϯϳϴ
ϯϲ ϰϮ ϭϯ ϳϴϰ Ϯ͕ϳϳϴ ϯ͕ϱϲϮ

– ;ϵͿ ;ϭϯͿ ;ϱϴϭͿ ;ϭ͕ϮϵϳͿ ;ϭ͕ϴϳϴͿ

– – ϭ ;ϮϱϳͿ ;ϭϵϬͿ ;ϰϰϳͿ

– – – Ϯ ;ϯϳͿ ;ϯϱͿ
– ϯϲ ;ϭͿ ϳϮ Ϯϭϳ Ϯϴϵ
– – – ;ϮϬϯͿ ;ϭϰϵͿ ;ϯϱϮͿ

ANNUAL REPORT 2018 page 237

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϴ ^'DEd/E&KZDd/KE͵'ZKhWΈKEd/EhΉ

ď͘ ^ĞŐŵĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚĂĚĚŝƟŽŶƐƚŽŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ

2018 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ

^ĞŐŵĞŶƚĂƐƐĞƚƐ 10,628 9,084 2,681
^ĞŐŵĞŶƚůŝĂďŝůŝƟĞƐ (2,928) (3,188) (347)
^ĞŐŵĞŶƚŝŶǀĞƐƚĞĚĐĂƉŝƚĂů 7,700 5,896 2,334
EĞƚƚĂdžĂƐƐĞƚƐ
ŽƌƌŽǁŝŶŐƐ
dŽƚĂůƋƵŝƚLJ

ĚĚŝƟŽŶƐƚŽŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐĂƌĞĂƐĨŽůůŽǁƐ͗
ĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞ 622 471 57
ĚĚŝƟŽŶƚŽŝŶǀĞƐƚŵĞŶƚƐ 27 – –
ĚĚŝƟŽŶƐƚŽŝŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ – – 30
649 471 87

2017
^ĞŐŵĞŶƚĂƐƐĞƚƐ ϭϬ͕ϰϭϭ ϴ͕ϵϮϯ Ϯ͕ϲϮϲ
^ĞŐŵĞŶƚůŝĂďŝůŝƟĞƐ ;Ϯ͕ϯϮϮͿ ;ϯ͕ϬϵϳͿ ;ϯϯϮͿ
^ĞŐŵĞŶƚŝŶǀĞƐƚĞĚĐĂƉŝƚĂů ϴ͕Ϭϴϵ ϱ͕ϴϮϲ Ϯ͕Ϯϵϰ
EĞƚƚĂdžĂƐƐĞƚƐ
ŽƌƌŽǁŝŶŐƐ
dŽƚĂůƋƵŝƚLJ

ĚĚŝƟŽŶƐƚŽŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐĂƌĞĂƐĨŽůůŽǁƐ͗
ĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞ ϱϳϰ Ϯϵϭ ϭϰϱ
ĚĚŝƟŽŶƚŽŝŶǀĞƐƚŵĞŶƚƐ ϱϬ – –
ĚĚŝƟŽŶƐƚŽŝŶƚĞƌĞƐƚŝŶũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ ϰ – ϭϮϳ
ϲϮϴ Ϯϵϭ ϮϳϮ

page 238 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

Corporate ŝƐĐŽŶƟŶƵĞĚ
,ĞĂůƚŚĐĂƌĞ KƚŚĞƌƐ and ĞůŝŵŝŶĂƟŽŶ Total ŽƉĞƌĂƟŽŶƐ Total
730 469 636 24,228 – 24,228
– (369) (18) (6,850) – (6,850)
730 100 618 17,378 – 17,378
270 – 270
(2,889) – (2,889)
14,759 – 14,759

– 7 21 1,178 653 1,831

– – – 27 – 27
– – – 30 101 131
– 7 21 1,235 754 1,989

ϲϴϮ ϰϴϰ ϭ͕Ϯϰϳ Ϯϰ͕ϯϳϯ ϰϬ͕ϰϬϬ ϲϰ͕ϳϳϯ

– ;ϯϰϳͿ ;ϳϴͿ ;ϲ͕ϭϳϲͿ ;ϰ͕ϯϭϲͿ ;ϭϬ͕ϰϵϮͿ
ϲϴϮ ϭϯϳ ϭ͕ϭϲϵ ϭϴ͕ϭϵϳ ϯϲ͕Ϭϴϰ ϱϰ͕Ϯϴϭ
ϯϳϴ ;ϵϵϮͿ ;ϲϭϰͿ
;ϯ͕ϮϬϱͿ ;ϵ͕ϵϭϯͿ ;ϭϯ͕ϭϭϴͿ
ϭϱ͕ϯϳϬ Ϯϱ͕ϭϳϵ ϰϬ͕ϱϰϵ

– – ϴ ϭ͕Ϭϭϴ ϭ͕ϴϳϳ Ϯ͕ϴϵϱ

– – – ϱϬ – ϱϬ
– – – ϭϯϭ ϯϵϱ ϱϮϲ
– – ϴ ϭ͕ϭϵϵ Ϯ͕ϮϳϮ ϯ͕ϰϳϭ

ANNUAL REPORT 2018 page 239

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϴ ^'DEd/E&KZDd/KE͵'ZKhWΈKEd/EhΉ

ď͘ ^ĞŐŵĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐĂŶĚĂĚĚŝƟŽŶƐƚŽŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ;ĐŽŶƟŶƵĞĚͿ

ĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞĐŽŶƐŝƐƚƐŽĨƚŚĞĨŽůůŽǁŝŶŐ͗

ŽŶƟŶƵŝŶŐ ŝƐĐŽŶƟŶƵĞĚ
2018 ŽƉĞƌĂƟŽŶƐ ŽƉĞƌĂƟŽŶƐ Total
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ 1,155 640 1,795
WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ 1 – 1
/ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ – 11 11
>ĂŶĚŚĞůĚĨŽƌƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ – 1 1
/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐŽƚŚĞƌƚŚĂŶŐŽŽĚǁŝůů 22 1 23
1,178 653 1,831

2017
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ ϴϵϵ ϭ͕ϳϯϮ Ϯ͕ϲϯϭ
WƌĞƉĂŝĚůĞĂƐĞƌĞŶƚĂůƐ ϭϰ ϭ ϭϱ
/ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƟĞƐ ϯ ϭϬϵ ϭϭϮ
>ĂŶĚŚĞůĚĨŽƌƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ – ϰ ϰ
/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐŽƚŚĞƌƚŚĂŶŐŽŽĚǁŝůů ϭϬϮ ϯϭ ϭϯϯ
ϭ͕Ϭϭϴ ϭ͕ϴϳϳ Ϯ͕ϴϵϱ

ZĞĐŽŶĐŝůŝĂƟŽŶŽĨƐĞŐŵĞŶƚĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐƚŽƚŽƚĂůĂƐƐĞƚƐĂŶĚƚŽƚĂůůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

ƐƐĞƚƐ >ŝĂďŝůŝƟĞƐ
2018 2017 2018 2017
^ĞŐŵĞŶƚƚŽƚĂů 24,228 ϲϰ͕ϳϳϯ 6,850 ϭϬ͕ϰϵϮ
dĂdžĂƐƐĞƚƐͬůŝĂďŝůŝƟĞƐ 645 ϴϯϴ 375 ϰϲϬ
ŽƌƌŽǁŝŶŐƐ – – 2,889 ϯ͕ϮϬϱ
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ – Ϯ͕Ϭϲϵ – ϭϮ͕ϵϳϰ
24,873 ϲϳ͕ϲϴϬ 10,114 Ϯϳ͕ϭϯϭ

page 240 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϴ ^'DEd/E&KZDd/KE͵'ZKhWΈKEd/EhΉ

Đ͘ ^ĞŐŵĞŶƚďLJŐĞŽŐƌĂƉŚLJ

 ZĞǀĞŶƵĞ͕ƉƌŽĮƚďĞĨŽƌĞŝŶƚĞƌĞƐƚĂŶĚƚĂdžĂŶĚŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ͕ŽƚŚĞƌƚŚĂŶĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂŶĚƚĂdžĂƐƐĞƚƐ͕ďLJůŽĐĂƟŽŶŽĨ
ƚŚĞ'ƌŽƵƉ͛ƐŽƉĞƌĂƟŽŶƐĂƌĞĂŶĂůLJƐĞĚĂƐĨŽůůŽǁƐ͗

Revenue PBIT EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ

2018 2017 2018 2017 2018 2017
DĂůĂLJƐŝĂ 4,855 ϰ͕ϳϭϰ 98 ϯϰϱ 2,709 Ϯ͕ϲϱϬ
KƚŚĞƌĐŽƵŶƚƌŝĞƐŝŶ^ŽƵƚŚ
ĂƐƚƐŝĂ 5,951 ϱ͕ϳϳϭ (37) ϭϮϭ 653 ϴϮϰ
ŚŝŶĂ ϭ
12,959 ϭϭ͕ϱϰϳ 512 ϯϵϰ 3,128 ϯ͕ϮϮϰ
Australasia Ϯ
10,063 ϵ͕Ϭϱϱ 501 ;ϳϲͿ 3,002 ϯ͕Ϭϲϵ
33,828 ϯϭ͕Ϭϴϳ 1,074 ϳϴϰ 9,492 ϵ͕ϳϲϳ

ϭ
 ŚŝŶĂĐŽŶƐŝƐƚƐŽĨŚŝŶĂ͕,ŽŶŐ<ŽŶŐ͕DĂĐĂƵĂŶĚdĂŝǁĂŶ
Ϯ
 ƵƐƚƌĂůĂƐŝĂĐŽŶƐŝƐƚƐŽĨƵƐƚƌĂůŝĂ͕EĞǁĂůĞĚŽŶŝĂ͕EĞǁĞĂůĂŶĚ͕WĂƉƵĂEĞǁ'ƵŝŶĞĂĂŶĚ^ŽůŽŵŽŶ/ƐůĂŶĚƐ

ZĞǀĞŶƵĞďLJůŽĐĂƟŽŶŽĨĐƵƐƚŽŵĞƌƐĂƌĞŶŽƚŵĂƚĞƌŝĂůůLJĚŝīĞƌĞŶƚĨƌŽŵƚŚĂƚŽĨƌĞǀĞŶƵĞďLJůŽĐĂƟŽŶŽĨŽƉĞƌĂƟŽŶƐ͘

ZĞĐŽŶĐŝůŝĂƟŽŶŽĨŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ͕ŽƚŚĞƌƚŚĂŶĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂŶĚƚĂdžĂƐƐĞƚƐƚŽƚŚĞƚŽƚĂůŶŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐĂƌĞĂƐ
ĨŽůůŽǁƐ͗

2018 2017
EŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐŽƚŚĞƌƚŚĂŶĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂŶĚƚĂdžĂƐƐĞƚƐ 9,492 ϵ͕ϳϲϳ
/ŶǀĞƐƚŵĞŶƚƐ 124 ϭϬϬ
ĞĨĞƌƌĞĚƚĂdžĂƐƐĞƚƐ 519 ϲϭϭ
dĂdžƌĞĐŽǀĞƌĂďůĞ 63 ϭϲϬ
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ – ϰϰ
ZĞĐĞŝǀĂďůĞƐĂŶĚŽƚŚĞƌĂƐƐĞƚƐ 214 ϭϳϭ
10,412 ϭϬ͕ϴϱϯ

 dŚĞ'ƌŽƵƉ͛ƐŽƉĞƌĂƟŽŶƐĂƌĞĚŝǀĞƌƐĞŝŶƚĞƌŵƐŽĨƚŚĞƌĂŶŐĞŽĨƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐŝƚŽīĞƌƐĂŶĚƚŚĞŐĞŽŐƌĂƉŚŝĐĂůĐŽǀĞƌĂŐĞ͘
dŚĞƌĞŝƐŶŽƐŝŶŐůĞĐƵƐƚŽŵĞƌƚŚĂƚĐŽŶƚƌŝďƵƚĞĚϭϬйŽƌŵŽƌĞƚŽƚŚĞ'ƌŽƵƉ͛ƐƌĞǀĞŶƵĞ͘

ANNUAL REPORT 2018 page 241

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

49 RELATED PARTIES

^ŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐŽƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚŝŶŶŽƚĞƐϲ͕ϳ͕ϴ͕ϭϬ͕ϭϭ͕ϭϰ͕ϭϱ͕Ϯϰ͕Ϯϱ͕ϯϭĂŶĚϰϱĂƌĞĂƐ
ĨŽůůŽǁƐ͗

Group 2018 2017

Ă͘ dƌĂŶƐĂĐƟŽŶƐǁŝƚŚũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
^ĂůĞŽĨƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐƚŽdĞƐĐŽ^ƚŽƌĞƐ;DĂůĂLJƐŝĂͿ^ĚŶŚĚ 1 ϭ
WƵƌĐŚĂƐĞŽĨƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐĨƌŽŵ^ŝƚĞĐŚŽŶƐƚƌƵĐƟŽŶ^LJƐƚĞŵƐWƚLJ>ƚĚ 10 ϯ
ŚĂŶŶĞůƵƐĂŐĞĨĞĞƐĐŚĂƌŐĞĚďLJtĞŝĨĂŶŐWŽƌƚ^ĞƌǀŝĐĞƐŽ>ƚĚ 12 ϵ
/ŶƚĞƌĞƐƚŝŶĐŽŵĞĨƌŽŵDŝŶĞŶĞƌŐLJ^ŽůƵƟŽŶƐWƚLJ>ƚĚ 16 ϴ
ŽŶƚƌŝďƵƟŽŶƉĂŝĚƚŽzĂLJĂƐĂŶ^ŝŵĞĂƌďLJ 10 –
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
dŽůůŝŶŐĨĞĞƐĂŶĚƐĂůĞƐƚŽŵĞƌLJKůĞŽĐŚĞŵŝĐĂůƐ;DͿ^ĚŶŚĚŐƌŽƵƉ 19 ϯϯ
ŝƐƉŽƐĂůŽĨƐƵďƐŝĚŝĂƌŝĞƐƚŽƐƚĞƌ/ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐWƚĞ>ƚĚ͕ĂƐƵďƐŝĚŝĂƌLJŽĨ
^ŝŵĞĂƌďLJZĞĂůƐƚĂƚĞ/ŶǀĞƐƚŵĞŶƚdƌƵƐƚϭ – Ϯϰϵ
WƵƌĐŚĂƐĞŽĨƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐĨƌŽŵDƵĂŶŐDĂŝ'ƵƚŚƌŝĞWƵďůŝĐŽ>ƚĚ 5 –
^ĂůĞŽĨƉƌŽĚƵĐƚƐĂŶĚƐĞƌǀŝĐĞƐƚŽdĞƐĐŽ^ƚŽƌĞƐ;DĂůĂLJƐŝĂͿ^ĚŶŚĚ 4 ϭϰ

ď͘ dƌĂŶƐĂĐƟŽŶƐďĞƚǁĞĞŶƐƵďƐŝĚŝĂƌŝĞƐĂŶĚƚŚĞŝƌƐŝŐŶŝĮĐĂŶƚŽǁŶĞƌƐŽĨ
 ŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐ
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
WƵƌĐŚĂƐĞŽĨĂŐƌŝĐƵůƚƵƌĂůƚƌĂĐƚŽƌƐ͕ĞŶŐŝŶĞƐĂŶĚƉĂƌƚƐďLJ^ŝŵĞ<ƵďŽƚĂ^ĚŶŚĚĨƌŽŵ
 <ƵďŽƚĂŽƌƉŽƌĂƟŽŶ 46 ϯϴ
^ĂůĞŽĨǀĞŚŝĐůĞƐĂŶĚƉĂƌƚƐďLJ:ĂŐƵĂƌ>ĂŶĚZŽǀĞƌ;DͿ^ĚŶŚĚƚŽ^ŝƐŵĂƵƚŽ^ĚŶŚĚ 30 ϲϬ
ZŽLJĂůƚLJƉĂLJŵĞŶƚƚŽĂŶĚƉƌŽĐƵƌĞŵĞŶƚŽĨĐĂƌƐĂŶĚĂŶĐŝůůĂƌLJƐĞƌǀŝĐĞƐďLJ/ŶŽŬŽŵ
 ŽƌƉŽƌĂƟŽŶ^ĚŶŚĚ;/^ͿĨƌŽŵ,LJƵŶĚĂŝDŽƚŽƌŽŵƉĂŶLJĂŶĚŝƚƐƌĞůĂƚĞĚ
ĐŽŵƉĂŶŝĞƐ 9 ϭϰ
ŽŶƚƌĂĐƚĂƐƐĞŵďůLJƐĞƌǀŝĐĞƉƌŽǀŝĚĞĚďLJ/^ƚŽDĂnjĚĂDĂůĂLJƐŝĂ^ĚŶŚĚ 91 ϱϮ
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
dƵƌŶŬĞLJǁŽƌŬƐƌĞŶĚĞƌĞĚƚŽ^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚ,ŽůĚŝŶŐ^ĚŶŚĚ;^,ͿŐƌŽƵƉďLJ
 ƌƵŶƐĮĞůĚŶŐŝŶĞĞƌŝŶŐ^ĚŶŚĚ;^Ϳ͘dĂŶ^ƌŝĂƚŽ͛/ƌ'ĂŶdŚŝĂŶ>ĞŽŶŐĂŶĚŶĐŝŬ
DŽŚĂŵĂĚ,ĂƐƐĂŶĂŬĂƌŝĂĂƌĞƐƵďƐƚĂŶƟĂůƐŚĂƌĞŚŽůĚĞƌƐŝŶďŽƚŚ^,ĂŶĚ^ 46 Ϯϲϱ
WƌŽũĞĐƚŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐƌĞŶĚĞƌĞĚďLJdƵŶĂƐ^ĞůĂƚĂŶŽŶƐƚƌƵĐƟŽŶ^ĚŶŚĚ͕ƚŚĞ
 ŚŽůĚŝŶŐĐŽŵƉĂŶLJŽĨdƵŶĂƐ^ĞůĂƚĂŶWĂŐŽŚ^ĚŶŚĚƚŽ^WƌŽƉĞƌƚLJ^ĞůĂƚĂŶ^ĚŶŚĚ – ϱ

Đ͘ dƌĂŶƐĂĐƟŽŶƐǁŝƚŚŬĞLJŵĂŶĂŐĞŵĞŶƚƉĞƌƐŽŶŶĞůĂŶĚƚŚĞŝƌĐůŽƐĞĨĂŵŝůLJŵĞŵďĞƌƐ
 ^ĂůĞŽĨƉƌŽƉĞƌƟĞƐĂŶĚĐĂƌƐ 1 Ϯ

page 242 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϵ Z>dWZd/^ΈKEd/EhΉ

 ^ŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐŽƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞƐϲ͕ϳ͕ϴ͕ϭϬ͕ϭϭ͕ϭϰ͕ϭϱ͕Ϯϰ͕Ϯϱ͕ϯϭĂŶĚϰϱĂƌĞĂƐ
ĨŽůůŽǁƐ;ĐŽŶƟŶƵĞĚͿ͗

Group Company
2018 2017 2018 2017
d. ZĞŵƵŶĞƌĂƟŽŶŽĨŝƌĞĐƚŽƌƐĂŶĚŬĞLJŵĂŶĂŐĞŵĞŶƚ
 ƉĞƌƐŽŶŶĞů
^ĂůĂƌŝĞƐ͕ŽƚŚĞƌĞŵŽůƵŵĞŶƚƐĂŶĚďĞŶĞĮƚƐ 40 ϰϮ 4 ϰ
ĞĮŶĞĚĐŽŶƚƌŝďƵƟŽŶƉĞŶƐŝŽŶƉůĂŶ 2 ϯ – –
WĞƌĨŽƌŵĂŶĐĞͲďĂƐĞĚĞŵƉůŽLJĞĞƐŚĂƌĞƐĐŚĞŵĞ – – – –
ƐƟŵĂƚĞĚŵŽŶĞƚĂƌLJǀĂůƵĞŽĨďĞŶĞĮƚƐͲŝŶͲŬŝŶĚ 1 ϭ – 1
ϭ

ϭ
 >ĞƐƐƚŚĂŶZDϭŵŝůůŝŽŶ

e. WĞƌĨŽƌŵĂŶĐĞͲďĂƐĞĚĞŵƉůŽLJĞĞƐŚĂƌĞƐĐŚĞŵĞ;W^^Ϳ
dŚĞŵŽǀĞŵĞŶƚŝŶƚŚĞŶƵŵďĞƌŽĨŽƌĚŝŶĂƌLJƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJŐƌĂŶƚĞĚƵŶĚĞƌƚŚĞW^^ƚŽƚŚĞdžĞĐƵƟǀĞŝƌĞĐƚŽƌĂŶĚ
ŬĞLJŵĂŶĂŐĞŵĞŶƚƉĞƌƐŽŶŶĞůŽĨƚŚĞ'ƌŽƵƉŝƐĂƐĨŽůůŽǁƐ͗

Fair value at At At
grant date 1 July 2017 >ĂƉƐĞĚ 30 June 2018
(RM) ‘000 ‘000 ‘000
^ĞĐŽŶĚŐƌĂŶƚ
'W^ ϳ͘Ϯϰ ϯϵϵ ;ϯϵϵͿ –
W^ ϴ͘ϭϴ ϯϲϵ ;ϯϲϵͿ –

ANNUAL REPORT 2018 page 243

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϵ Z>dWZd/^ΈKEd/EhΉ

 ^ŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐŽƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞƐϲ͕ϳ͕ϴ͕ϭϬ͕ϭϭ͕ϭϰ͕ϭϱ͕Ϯϰ͕Ϯϱ͕ϯϭĂŶĚϰϱĂƌĞĂƐ
ĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ĩ͘ dƌĂŶƐĂĐƟŽŶƐǁŝƚŚƐŚĂƌĞŚŽůĚĞƌƐĂŶĚƚŚĞ'ŽǀĞƌŶŵĞŶƚ

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕WĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚ;WEͿĂŶĚƚŚĞĨƵŶĚƐŵĂŶĂŐĞĚďLJŝƚƐƐƵďƐŝĚŝĂƌLJ͕ŵĂŶĂŚ^ĂŚĂŵEĂƐŝŽŶĂů
ĞƌŚĂĚ;^EͿ͕ƚŽŐĞƚŚĞƌŽǁŶƐĂƉƉƌŽdžŝŵĂƚĞůLJϱϭ͘ϯй;ϮϬϭϳ͗ϱϭ͘ϵйͿŽĨƚŚĞŝƐƐƵĞĚƐŚĂƌĞĐĂƉŝƚĂůŽĨƚŚĞŽŵƉĂŶLJ͘WEŝƐĂŶĞŶƟƚLJ
ĐŽŶƚƌŽůůĞĚďLJƚŚĞDĂůĂLJƐŝĂŶ'ŽǀĞƌŶŵĞŶƚƚŚƌŽƵŐŚzĂLJĂƐĂŶWĞůĂďƵƌĂŶƵŵŝƉƵƚƌĂ;zWͿ͘dŚĞ'ƌŽƵƉƌĞŐĂƌĚƐzWĂƐƚŚĞƵůƟŵĂƚĞ
ŚŽůĚŝŶŐĐŽŵƉĂŶLJ͘ƐĂƌĞƐƵůƚ͕ƚŚĞDĂůĂLJƐŝĂŶ'ŽǀĞƌŶŵĞŶƚĂŶĚDĂůĂLJƐŝĂŶ'ŽǀĞƌŶŵĞŶƚ͛ƐĐŽŶƚƌŽůůĞĚďŽĚŝĞƐ;ĐŽůůĞĐƟǀĞůLJƌĞĨĞƌƌĞĚ
ƚŽĂƐŐŽǀĞƌŶŵĞŶƚͲƌĞůĂƚĞĚĞŶƟƟĞƐͿĂƌĞƌĞůĂƚĞĚƉĂƌƟĞƐŽĨƚŚĞ'ƌŽƵƉĂŶĚŽĨƚŚĞŽŵƉĂŶLJ͘

 dƌĂŶƐĂĐƟŽŶƐĞŶƚĞƌĞĚŝŶƚŽĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌǁŝƚŚŐŽǀĞƌŶŵĞŶƚͲƌĞůĂƚĞĚĞŶƟƟĞƐŝŶĐůƵĚĞƚŚĞƐĂůĞƐĂŶĚƉƵƌĐŚĂƐĞƐŽĨŐŽŽĚƐ
ĂŶĚƐĞƌǀŝĐĞƐ͘dŚĞƐĞƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐǁĞƌĞĞŶƚĞƌĞĚŝŶƚŽŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐ͘

 KŶϮϵEŽǀĞŵďĞƌϮϬϭϳ͕ƚŚĞ'ƌŽƵƉĐŽŵƉůĞƚĞĚƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƐŚĂƌĞƐƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞ
ŽŵƉĂŶLJ͘dƌĂŶƐĂĐƟŽŶƐďĞƚǁĞĞŶƚŚĞ'ƌŽƵƉĂŶĚ^WůĂŶƚĂƟŽŶŽƌ^WƌŽƉĞƌƚLJĂƌĞĐůĂƐƐŝĮĞĚĂƐƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂƐzW
ŝƐƚŚĞĐŽŵŵŽŶŵĂũŽƌƐŚĂƌĞŚŽůĚŝŶŐŽĨƚŚĞϯŐƌŽƵƉƐ͘^ŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐǁŝƚŚƚŚĞĨŽƌŵĞƌƐƵďƐŝĚŝĂƌŝĞƐĂƌĞĂƐ
ĨŽůůŽǁƐ͗

zĞĂƌĞŶĚĞĚ
30 June 2018
WƌŽǀŝƐŝŽŶŽĨƐŚĂƌĞĚƐĞƌǀŝĐĞƐ 52
^ĂůĞƐ͕ƐĞƌǀŝĐŝŶŐĂŶĚůĞĂƐŝŶŐŽĨĞƋƵŝƉŵĞŶƚĂŶĚǀĞŚŝĐůĞƐ 41
^ĂůĞŽĨĂƉĂƌƚŵĞŶƚƐĂŶĚďƵŶŐĂůŽǁƐ 15
ZŽLJĂůƚLJƌĞĐĞŝǀĞĚ 4
ZĞŶƚĂůŝŶĐŽŵĞ 5
ZĞŶƚĂůĐŚĂƌŐĞƐ 5

ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
 KŶϯϭ:ƵůLJϮϬϭϳ͕^WƌŽƉĞƌƚLJĞŶƚĞƌĞĚŝŶƚŽĂ^ŚĂƌĞ^ĂůĞŐƌĞĞŵĞŶƚǁŝƚŚWEĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚĨŽƌƚŚĞĚŝƐƉŽƐĂůŽĨŝƚƐ
ĞŶƟƌĞϰϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶ^ĞƌŝĞŵĂƐĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚĨŽƌĂƚŽƚĂůĐĂƐŚĐŽŶƐŝĚĞƌĂƟŽŶŽĨZDϲϮϱŵŝůůŝŽŶ͘dŚĞĚŝƐƉŽƐĂůǁĂƐ
ĐŽŵƉůĞƚĞĚŽŶϮϵ^ĞƉƚĞŵďĞƌϮϬϭϳ͘

 KŶϮϳKĐƚŽďĞƌϮϬϭϳ͕<ƵŵƉƵůĂŶ:ĞůĞŝ^ĚŶŚĚ͕ĂǁŚŽůůLJͲŽǁŶĞĚƐƵďƐŝĚŝĂƌLJŽĨ^WůĂŶƚĂƟŽŶ͕ŚĂĚĞŶƚĞƌĞĚŝŶƚŽĂŶĂŐƌĞĞŵĞŶƚǁŝƚŚ
WEĨŽƌƚŚĞƐĂůĞŽĨnjĞƌŽĐŽƵƉŽŶƌĞĚĞĞŵĂďůĞůŽĂŶƐƚŽĐŬŽĨWƌŽůŝŶƚĂƐdžƉƌĞƐƐǁĂLJ^ĚŶŚĚ;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐ'ƵƚŚƌŝĞŽƌƌŝĚŽƌ
džƉƌĞƐƐǁĂLJ^ĚŶŚĚͿĨŽƌĂƚŽƚĂůƉƵƌĐŚĂƐĞĐŽŶƐŝĚĞƌĂƟŽŶŽĨZDϯϯϯŵŝůůŝŽŶ͘<ƵŵƉƵůĂŶ:ĞůĞŝ^ĚŶŚĚĐĞĂƐĞĚƚŽďĞĂƐƵďƐŝĚŝĂƌLJ
ŽĨƚŚĞ'ƌŽƵƉĨŽůůŽǁŝŶŐƚŚĞĐŽŵƉůĞƟŽŶŽĨƚŚĞĚŝƐƚƌŝďƵƟŽŶŽĨ^WůĂŶƚĂƟŽŶĂŶĚ^WƌŽƉĞƌƚLJƐŚĂƌĞƐƚŽƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞ
ŽŵƉĂŶLJ͘

page 244 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϰϵ Z>dWZd/^ΈKEd/EhΉ

 ^ŝŐŶŝĮĐĂŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐĂŶĚďĂůĂŶĐĞƐŽƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚŝŶEŽƚĞƐϲ͕ϳ͕ϴ͕ϭϬ͕ϭϭ͕ϭϰ͕ϭϱ͕Ϯϰ͕Ϯϱ͕ϯϭĂŶĚϰϱĂƌĞĂƐ
ĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ő͘ KƵƚƐƚĂŶĚŝŶŐďĂůĂŶĐĞƐǁŝƚŚƌĞůĂƚĞĚƉĂƌƟĞƐ

dŚĞƐŝŐŶŝĮĐĂŶƚŽƵƚƐƚĂŶĚŝŶŐďĂůĂŶĐĞƐďĞƚǁĞĞŶƚŚĞ'ƌŽƵƉĂŶĚƌĞůĂƚĞĚƉĂƌƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

2018 2017
ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
ŝ͘ ŵŽƵŶƚƐĚƵĞĨƌŽŵͬ;ƚŽͿũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJ>ŝƋƵŝĚdĞƌŵŝŶĂůŽ>ƚĚ 131 ϴϯ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJtĞƐƚWŽƌƚŽ>ƚĚ 42 ϱϲ
tĞŝĨĂŶŐWŽƌƚ^ĞƌǀŝĐĞƐŽ>ƚĚ 23 ϯϰ
DĂůĂLJƐŝĂͲŚŝŶĂ,LJĚƌŽ:ŽŝŶƚsĞŶƚƵƌĞ (23) ;ϮϯͿ

ŝŝ͘ ŵŽƵŶƚĚƵĞĨƌŽŵzWŐƌŽƵƉĐŽŵƉĂŶŝĞƐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶĞƌŚĂĚŐƌŽƵƉ 64 –
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJĞƌŚĂĚŐƌŽƵƉ 8 –

ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ
ŝ͘ ŵŽƵŶƚƐĚƵĞƚŽŽǁŶĞƌŽĨŶŽŶͲĐŽŶƚƌŽůůŝŶŐŝŶƚĞƌĞƐƚƐŽĨ^,
ƌƵŶƐĮĞůĚDĞƚƌŽƉŽůŝƚĂŶ^ĚŶŚĚ – Ϯϯϰ
ƌƵŶƐĮĞůĚŶŐŝŶĞĞƌŝŶŐ^ĚŶŚĚ – Ϯϱ

ŝŝ͘ ŵŽƵŶƚĚƵĞĨƌŽŵzWŐƌŽƵƉ
WƌŽůŝŶƚĂƐdžƉƌĞƐƐǁĂLJ^ĚŶŚĚ;ŶŽŵŝŶĂůǀĂůƵĞͿ – ϱϬϬ

 ůůŽƵƚƐƚĂŶĚŝŶŐďĂůĂŶĐĞƐĂƌĞƵŶƐĞĐƵƌĞĚĂŶĚƌĞƉĂLJĂďůĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂŐƌĞĞĚƚĞƌŵƐ͘

 KƚŚĞƌƚŚĂŶĂƐĚŝƐĐůŽƐĞĚĂďŽǀĞ͕ƚŚĞƌĞǁĞƌĞŶŽŵĂƚĞƌŝĂůĐŽŶƚƌĂĐƚƐƐƵďƐŝƐƟŶŐĂƐĂƚϯϬ:ƵŶĞϮϬϭϴŽƌŝĨŶŽƚƚŚĞŶƐƵďƐŝƐƟŶŐ͕ĞŶƚĞƌĞĚŝŶƚŽ
ƐŝŶĐĞƚŚĞĞŶĚŽĨƚŚĞĮŶĂŶĐŝĂůLJĞĂƌďLJƚŚĞŽŵƉĂŶLJŽƌŝƚƐƐƵďƐŝĚŝĂƌŝĞƐǁŚŝĐŚŝŶǀŽůǀĞĚƚŚĞŝŶƚĞƌĞƐƚƐŽĨƐƵďƐƚĂŶƟĂůƐŚĂƌĞŚŽůĚĞƌƐ͘

ANNUAL REPORT 2018 page 245

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

50 FINANCIAL INSTRUMENTS

Ă͘ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ

 dŚĞŵĞĂƐƵƌĞŵĞŶƚĂŶĚĐĂƚĞŐŽƌŝƐĂƟŽŶŽĨƚŚĞĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĐĂƌƌŝĞĚĂƚĨĂŝƌǀĂůƵĞĂƌĞĂƐĨŽůůŽǁƐ͗

/ŶǀĞƐƚŵĞŶƚƐ
 YƵŽƚĞĚŵĂƌŬĞƚƉƌŝĐĞƐŝŶĂĐƟǀĞŵĂƌŬĞƚƐĂƌĞĐŽŶƐŝĚĞƌĞĚ>ĞǀĞůϭ͘/ĨƐƵĐŚƋƵŽƚĞĚŵĂƌŬĞƚƉƌŝĐĞƐĂƌĞŶŽƚĂǀĂŝůĂďůĞ͕ĨĂŝƌǀĂůƵĞĂƌĞ
ĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐŵĂƌŬĞƚƉƌŝĐĞƐĨŽƌƐŝŵŝůĂƌĂƐƐĞƚƐŽƌƉƌĞƐĞŶƚǀĂůƵĞƚĞĐŚŶŝƋƵĞƐ͕ĂƉƉůLJŝŶŐĂŶĂƉƉƌŽƉƌŝĂƚĞƌŝƐŬͲĨƌĞĞŝŶƚĞƌĞƐƚ
ƌĂƚĞĂĚũƵƐƚĞĚĨŽƌŶŽŶͲƉĞƌĨŽƌŵĂŶĐĞƌŝƐŬ͘dŚĞŝŶƉƵƚƐƵƐĞĚŝŶƉƌĞƐĞŶƚǀĂůƵĞƚĞĐŚŶŝƋƵĞƐĂƌĞŽďƐĞƌǀĂďůĞĂŶĚĨĂůůŝŶƚŽƚŚĞ>ĞǀĞůϮ
ĐĂƚĞŐŽƌLJ͘/ƚŝƐĐůĂƐƐŝĮĞĚŝŶƚŽƚŚĞ>ĞǀĞůϯĐĂƚĞŐŽƌLJŝĨƐŝŐŶŝĮĐĂŶƚƵŶŽďƐĞƌǀĂďůĞŝŶƉƵƚƐĂƌĞƵƐĞĚ͘

ĞƌŝǀĂƟǀĞƐ
 dŚĞĨĂŝƌǀĂůƵĞƐŽĨĚĞƌŝǀĂƟǀĞĂƌĞĚĞƚĞƌŵŝŶĞĚƵƐŝŶŐƋƵŽƚĞĚƉƌŝĐĞŽĨŝĚĞŶƟĐĂůŝŶƐƚƌƵŵĞŶƚƐĨƌŽŵĂŶĂĐƟǀĞŵĂƌŬĞƚ͕ŝĨĂǀĂŝůĂďůĞ
;>ĞǀĞůϭͿ͘/ĨƋƵŽƚĞĚƉƌŝĐĞƐĂƌĞŶŽƚĂǀĂŝůĂďůĞ͕ƉƌŝĐĞƋƵŽƚĞĚĨŽƌƐŝŵŝůĂƌŝŶƐƚƌƵŵĞŶƚƐ͕ĂƉƉƌŽƉƌŝĂƚĞůLJĂĚũƵƐƚĞĚ͕ŽƌƉƌĞƐĞŶƚǀĂůƵĞ
ƚĞĐŚŶŝƋƵĞƐ͕ďĂƐĞĚŽŶĂǀĂŝůĂďůĞŵĂƌŬĞƚŽďƐĞƌǀĂďůĞŝŶƉƵƚƐĂƌĞƵƐĞĚ͕ŝŶĐůƵĚŝŶŐĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƐƉŽƚĂŶĚĨŽƌǁĂƌĚƌĂƚĞƐĂŶĚ
ŝŶƚĞƌĞƐƚƌĂƚĞĐƵƌǀĞƐ͘dŚĞĨĂŝƌǀĂůƵĞƐŽďƚĂŝŶĞĚƵƐŝŶŐƉƌŝĐĞƋƵŽƚĞƐĨŽƌƐŝŵŝůĂƌŝŶƐƚƌƵŵĞŶƚƐŽƌǀĂůƵĂƟŽŶƚĞĐŚŶŝƋƵĞƐƌĞƉƌĞƐĞŶƚĂ
>ĞǀĞůϮŝŶƉƵƚƵŶůĞƐƐƐŝŐŶŝĮĐĂŶƚƵŶŽďƐĞƌǀĂďůĞŝŶƉƵƚƐĂƌĞƵƐĞĚ͕ǁŚŝĐŚǁŽƵůĚƌĞƐƵůƚŝŶ>ĞǀĞůϯǀĂůƵĂƟŽŶŵĞƚŚŽĚƐ͘

 ^ƉĞĐŝĮĐǀĂůƵĂƟŽŶƚĞĐŚŶŝƋƵĞƐƵƐĞĚďLJƚŚĞ'ƌŽƵƉƚŽǀĂůƵĞĚĞƌŝǀĂƟǀĞƐŝŶĐůƵĚĞƚŚĞĨŽůůŽǁŝŶŐ͗

ŝ͘ ĨĂŝƌǀĂůƵĞŽĨĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐĂƌĞĐĂůĐƵůĂƚĞĚƵƐŝŶŐŽďƐĞƌǀĂďůĞĨŽƌǁĂƌĚĞdžĐŚĂŶŐĞƌĂƚĞƐĂƚƚŚĞĞŶĚŽĨƚŚĞ
ƌĞƉŽƌƟŶŐƉĞƌŝŽĚ͕ǁŝƚŚƚŚĞƌĞƐƵůƟŶŐǀĂůƵĞĚŝƐĐŽƵŶƚĞĚďĂĐŬƚŽƉƌĞƐĞŶƚǀĂůƵĞ͖ĂŶĚ

ŝŝ͘ ĨĂŝƌǀĂůƵĞŽĨĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚĂŶĚŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐĂƌĞĐĂůĐƵůĂƚĞĚĂƐƚŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞ
ĞƐƟŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŇŽǁƐďĂƐĞĚŽŶŽďƐĞƌǀĂďůĞLJŝĞůĚĐƵƌǀĞƐ͘

page 246 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϬ &/EE/>/E^dZhDEd^ΈKEd/EhΉ

Ă͘ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ;ĐŽŶƟŶƵĞĚͿ

dŚĞĨŽůůŽǁŝŶŐƚĂďůĞƉƌĞƐĞŶƚƐƚŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐƚŚĂƚĂƌĞŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞĂƐĂƚϯϬ:ƵŶĞŝŶƚŽƚŚƌĞĞ
ĚŝīĞƌĞŶƚůĞǀĞůƐĂƐĚĞĮŶĞĚĂďŽǀĞ͗

Group
2018 Level 1 Level 2 Level 3 Total
Financial assets
/ŶǀĞƐƚŵĞŶƚƐ – 5 119 124
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ – 22 – 22
Ͳ ŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ – 1 – 1
Ͳ ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚ – 43 – 43
– 71 119 190

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ
ĞƌŝǀĂƟǀĞůŝĂďŝůŝƟĞƐ
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ – 26 – 26

2017
Financial assets
/ŶǀĞƐƚŵĞŶƚƐ – ϱ ϵϱ ϭϬϬ
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ – ϭϱ – ϭϱ
Ͳ ŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉĐŽŶƚƌĂĐƚƐ – ϯ – ϯ
Ͳ ĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĐŽŶƚƌĂĐƚ – ϭϮϯ – ϭϮϯ
– ϭϰϲ ϵϱ Ϯϰϭ
&ŝŶĂŶĐŝĂůĂƐƐĞƚƐŝŶĐůƵĚĞĚŝŶĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ϭϭ ϴϯ ϲϮ ϭϱϲ
ϭϭ ϮϮϵ ϭϱϳ ϯϵϳ

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ
ĞƌŝǀĂƟǀĞůŝĂďŝůŝƟĞƐ
Ͳ ĨŽƌǁĂƌĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞĐŽŶƚƌĂĐƚƐ – ϭϭ – ϭϭ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐŝŶĐůƵĚĞĚŝŶůŝĂďŝůŝƟĞƐ
ĂƐƐŽĐŝĂƚĞĚǁŝƚŚĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – Ϯϲ – Ϯϲ
– ϯϳ – ϯϳ

ANNUAL REPORT 2018 page 247

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϬ &/EE/>/E^dZhDEd^ΈKEd/EhΉ

Ă͘ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞ;ĐŽŶƟŶƵĞĚͿ

 dŚĞŝŶǀĞƐƚŵĞŶƚƐĐĂƚĞŐŽƌŝƐĞĚĂƐ>ĞǀĞůϯŝŶƚŚĞĨĂŝƌǀĂůƵĞŚŝĞƌĂƌĐŚLJĂƌĞŶŽŶͲƚƌĂĚĞĚĞƋƵŝƚLJŝŶǀĞƐƚŵĞŶƚƐǁŚŝĐŚĂƌĞǀĂůƵĞĚĂƚƚŚĞŝƌ
ƌĞĐŽǀĞƌĂďůĞĂŵŽƵŶƚƐ͘dŚĞƌĞǁĂƐŶŽƚƌĂŶƐĨĞƌďĞƚǁĞĞŶůĞǀĞůƐŽĨƚŚĞĨĂŝƌǀĂůƵĞŚŝĞƌĂƌĐŚLJĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌ͘

 dŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚŚĂǀĞĂŶLJĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐŵĞĂƐƵƌĞĚĂƚĨĂŝƌǀĂůƵĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗EŝůͿ͘

ď͘ &ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐŵĞĂƐƵƌĞĚĂƚĂŵŽƌƟƐĞĚĐŽƐƚ

 dŚĞĐĂƌƌLJŝŶŐĂŵŽƵŶƚƐĂŶĚĨĂŝƌǀĂůƵĞƐŽĨůŽŶŐͲƚĞƌŵĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐŵĞĂƐƵƌĞĚĂƚĂŵŽƌƟƐĞĚĐŽƐƚĂƐĂƚϯϬ:ƵŶĞĂƌĞ
ĂƐĨŽůůŽǁƐ͗

Group
Carrying Fair
2018 amount value
Financial assets
ZĞĐĞŝǀĂďůĞƐ
Ͳ ƚƌĂĚĞĂŶĚŽƚŚĞƌƌĞĐĞŝǀĂďůĞƐ 99 99
Ͳ ĂŵŽƵŶƚĚƵĞĨƌŽŵũŽŝŶƚǀĞŶƚƵƌĞƐ 136 137

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ
WĂLJĂďůĞƐ 54 54
ŽƌƌŽǁŝŶŐƐ 536 536

 dŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚŚĂǀĞĂŶLJůŽŶŐͲƚĞƌŵĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƟĞƐŵĞĂƐƵƌĞĚĂƚĂŵŽƌƟƐĞĚĐŽƐƚĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ͘

Group Company
Carrying Fair Carrying Fair
2017 amount value amount value
Financial assets
ŵŽƵŶƚĚƵĞĨƌŽŵĂƐƵďƐŝĚŝĂƌLJ – – ϳϬϬ ϳϬϬ
ZĞĐĞŝǀĂďůĞƐ
Ͳ ƚƌĂĚĞĂŶĚŽƚŚĞƌƌĞĐĞŝǀĂďůĞƐ ϵϱ ϵϱ – –
Ͳ ĂŵŽƵŶƚĚƵĞĨƌŽŵĂũŽŝŶƚǀĞŶƚƵƌĞ ϭϭϭ ϭϭϭ – –

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐ
WĂLJĂďůĞƐ ϴϬ ϴϬ – –
ŽƌƌŽǁŝŶŐƐ
Ͳ /ƐůĂŵŝĐDĞĚŝƵŵdĞƌŵEŽƚĞƐ ϳϬϭ ϲϳϴ ϳϬϭ ϲϳϴ
Ͳ ƚĞƌŵůŽĂŶƐĂŶĚŽƚŚĞƌƐ ϭ͕Ϭϱϯ ϭ͕Ϭϱϯ – –

 dŚĞĨĂŝƌǀĂůƵĞƐŽĨƚŚĞ'ƌŽƵƉ͛ƐůŽŶŐͲƚĞƌŵĮŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐĂƌĞĐĂƚĞŐŽƌŝƐĞĚĂƐ>ĞǀĞůϮŝŶƚŚĞĨĂŝƌǀĂůƵĞŚŝĞƌĂƌĐŚLJĂƐƚŚĞLJĂƌĞ
ĞƐƟŵĂƚĞĚďLJĚŝƐĐŽƵŶƟŶŐƚŚĞĨƵƚƵƌĞĐŽŶƚƌĂĐƚƵĂůĐĂƐŚŇŽǁƐĂƚƚŚĞĐƵƌƌĞŶƚŵĂƌŬĞƚƌĂƚĞĂǀĂŝůĂďůĞĨŽƌƐŝŵŝůĂƌŝŶƐƚƌƵŵĞŶƚƐ͘

page 248 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

51 FINANCIAL RISK MANAGEMENT

 dŚĞ'ƌŽƵƉ͛ƐĂĐƟǀŝƟĞƐĞdžƉŽƐĞŝƚƚŽĂǀĂƌŝĞƚLJŽĨĮŶĂŶĐŝĂůƌŝƐŬƐ͕ŝŶĐůƵĚŝŶŐĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ͕ŝŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬ͕ĐƌĞĚŝƚƌŝƐŬ͕ůŝƋƵŝĚŝƚLJƌŝƐŬ
ĂŶĚĐĂƐŚŇŽǁƌŝƐŬ͘dŚĞƉŽůŝĐLJŽŶĮŶĂŶĐŝĂůƌŝƐŬŵĂŶĂŐĞŵĞŶƚŝƐĚĞƐĐƌŝďĞĚŝŶEŽƚĞϱ͘

 ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗

Ă͘ &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ

 ƵƌƌĞŶĐLJƉƌŽĮůĞŽĨŵŽŶĞƚĂƌLJĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

ĞŶŽŵŝŶĂƚĞĚŝŶĐƵƌƌĞŶĐŝĞƐŽƚŚĞƌƚŚĂŶĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐ
United European Denominated
Group ^ƚĂƚĞƐ ŚŝŶĞƐĞ Union ŝŶĨƵŶĐƟŽŶĂů
2018 dollar ƌĞŶŵŝŶďŝ euro KƚŚĞƌƐ ĐƵƌƌĞŶĐŝĞƐ Total
/ŶǀĞƐƚŵĞŶƚƐ – – – – 124 124
ZĞĐĞŝǀĂďůĞƐ;ŶĞƚͿ 179 156 31 22 4,350 4,738
ĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐ
ĂŶĚĐĂƐŚ 56 60 6 42 1,508 1,672
ŽƌƌŽǁŝŶŐƐ (960) – – – (1,929) (2,889)
WĂLJĂďůĞƐ (365) – (274) (54) (4,121) (4,814)
(1,090) 216 (237) 10 (68) (1,169)
&ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ
ŝŶĐůƵĚĞĚŝŶ͗
Ͳ ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – – – – 45 45
Ͳ ůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚ
ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ – – – – (15) (15)
(1,090) 216 (237) 10 (38) (1,139)

2017
/ŶǀĞƐƚŵĞŶƚƐ – – – – ϭϬϬ ϭϬϬ
ZĞĐĞŝǀĂďůĞƐ;ŶĞƚͿ ϭϲϵ ϭϯϰ Ϯϴ ϭϮϬ ϯ͕ϱϲϮ ϰ͕Ϭϭϯ
ĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐ
ĂŶĚĐĂƐŚ ϭϴϲ ϯ ϲ ϯϳ ϭ͕ϴϰϬ Ϯ͕ϬϳϮ
ŽƌƌŽǁŝŶŐƐ ;ϭ͕ϭϯϰͿ – – – ;Ϯ͕ϬϳϭͿ ;ϯ͕ϮϬϱͿ
WĂLJĂďůĞƐ ;ϭϳϲͿ ;ϮͿ ;ϳϳͿ ;ϰϮͿ ;ϰ͕ϬϱϭͿ ;ϰ͕ϯϰϴͿ
;ϵϱϱͿ ϭϯϱ ;ϰϯͿ ϭϭϱ ;ϲϮϬͿ ;ϭ͕ϯϲϴͿ
&ŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐ
ŝŶĐůƵĚĞĚŝŶ͗
Ͳ ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ϰϭϲ ϭϴ ϭϭ ϭϲϱ ϰ͕ϲϯϴ ϱ͕Ϯϰϴ
Ͳ ůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚ
ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ;ϱ͕ϴϬϯͿ – ;ϯͿ ;ϭϯϮͿ ;ϳ͕ϰϯϳͿ ;ϭϯ͕ϯϳϱͿ
;ϲ͕ϯϰϮͿ ϭϱϯ ;ϯϱͿ ϭϰϴ ;ϯ͕ϰϭϵͿ ;ϵ͕ϰϵϱͿ

ANNUAL REPORT 2018 page 249

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϭ &/EE/>Z/^<DE'DEdΈKEd/EhΉ

 ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ă͘ &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ;ĐŽŶƟŶƵĞĚͿ

 ƵƌƌĞŶĐLJƉƌŽĮůĞŽĨŵŽŶĞƚĂƌLJĮŶĂŶĐŝĂůĂƐƐĞƚƐĂŶĚĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

 KƚŚĞƌƚŚĂŶĂŶŽŵŝŶĂůĂŵŽƵŶƚŽĨĐĂƐŚŚĞůĚŝŶh^ĚŽůůĂƌƐ͕ƚŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚŚĂǀĞĂŶLJĮŶĂŶĐŝĂůĂƐƐĞƚƐŽƌůŝĂďŝůŝƟĞƐ
ĚĞŶŽŵŝŶĂƚĞĚŝŶĨŽƌĞŝŐŶĐƵƌƌĞŶĐLJĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗ZDϯŵŝůůŝŽŶƉĂLJĂďůĞƐĚĞŶŽŵŝŶĂƚĞĚŝŶh^ĚŽůůĂƌƐͿ͘

 &ŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬǁŚŝĐŚŝŵƉĂĐƚƐƚŚĞƐƚĂƚĞŵĞŶƚƐŽĨƉƌŽĮƚŽƌůŽƐƐĂƌŝƐĞƐǁŚĞƌĞŵŽŶĞƚĂƌLJĂƐƐĞƚƐͬůŝĂďŝůŝƟĞƐƚŚĂƚĂƌĞŶŽƚ
ĚĞŶŽŵŝŶĂƚĞĚŝŶƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJŽĨƚŚĞƌĞƐƉĞĐƟǀĞƐƵďƐŝĚŝĂƌŝĞƐĂƌĞŶŽƚŚĞĚŐĞĚ͘

ŝ͘ ŽƌƌŽǁŝŶŐƐ

 KĨƚŚĞZDϵϲϬŵŝůůŝŽŶďŽƌƌŽǁŝŶŐƐĚĞŶŽŵŝŶĂƚĞĚŝŶh^ĚŽůůĂƌƐ͕ZDϮϭϳŵŝůůŝŽŶŚĂƐďĞĞŶŚĞĚŐĞĚǁŝƚŚĚĞƌŝǀĂƟǀĞƐĂŶĚ
ZDϰϮϳŵŝůůŝŽŶŝƐĚĞƐŝŐŶĂƚĞĚĂƐŚĞĚŐĞŝŶƐƚƌƵŵĞŶƚƐĨŽƌƌĞĐĞŝǀĂďůĞƐĂŶĚĂŶƟĐŝƉĂƚĞĚƐĂůĞƐ͘dŚĞƌĞŵĂŝŶŝŶŐZDϯϭϲŵŝůůŝŽŶŝƐ
ŝŶĂ,<ĚŽůůĂƌĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJƐƵďƐŝĚŝĂƌLJ͕ǁŚĞƌĞƚŚĞĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬŝƐŵŝƟŐĂƚĞĚĂƐƚŚĞ,<ĚŽůůĂƌŝƐƉĞŐŐĞĚƚŽ
ƚŚĞh^ĚŽůůĂƌ͕ƚƌĂĚŝŶŐǁŝƚŚŝŶĂŶĂƌƌŽǁďĂŶĚĂŐĂŝŶƐƚƚŚĞh^ĚŽůůĂƌ͘

ŝŝ͘ ĂŶŬďĂůĂŶĐĞƐ

 ĂŶŬďĂůĂŶĐĞƐĚĞŶŽŵŝŶĂƚĞĚŝŶŶŽŶĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐĂƌĞŶŽƚŚĞĚŐĞĚ͘,ŽǁĞǀĞƌ͕ƚŚĞLJĂƌĞŐĞŶĞƌĂůůLJŚĞůĚĨŽƌĂƐŚŽƌƚ
ƉĞƌŝŽĚĂŶĚǁŽƵůĚĞŝƚŚĞƌďĞĐŽŶǀĞƌƚĞĚƚŽƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJŽƌƵƐĞĚƚŽŚĞĚŐĞŽƌƐĞƩůĞƉĂLJĂďůĞƐŝŶƚŚĞƐĂŵĞ
ĐƵƌƌĞŶĐLJ͘ƐƐƵĐŚ͕ĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬĨŽƌƵŶŚĞĚŐĞĚďĂŶŬďĂůĂŶĐĞƐĂƌĞŐĞŶĞƌĂůůLJůŝŵŝƚĞĚ͘

ŝŝŝ͘ ZĞĐĞŝǀĂďůĞƐĂŶĚƉĂLJĂďůĞƐ

 ZĞĐĞŝǀĂďůĞƐĂŶĚƉĂLJĂďůĞƐŝŶŶŽŶĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐĂƌĞŐĞŶĞƌĂůůLJŚĞĚŐĞĚƵƐŝŶŐĚĞƌŝǀĂƟǀĞƐŽƌďŽƌƌŽǁŝŶŐƐŽƌĞdžƉŽƐĞĚ
ĨŽƌĂƐŚŽƌƚƚĞƌŵ;ƉĞŶĚŝŶŐƐĞƩůĞŵĞŶƚŽƌŚĞĚŐŝŶŐͿ͕ǁŝƚŚůŝŵŝƚĞĚĨŽƌĞŝŐŶĞdžĐŚĂŶŐĞƌŝƐŬ͘dŚĞƵƌŽĂŶĚh^ĚŽůůĂƌƉĂLJĂďůĞƐ
ŚĂǀĞůĂƌŐĞůLJďĞĞŶŚĞĚŐĞĚǁŝƚŚĚĞƌŝǀĂƟǀĞƐ͘,ŽǁĞǀĞƌ͕ĐĞƌƚĂŝŶŵĂƚĞƌŝĂůďĂůĂŶĐĞƐŝŶŶŽŶĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐŝĞƐŽĨƚŚĞ
ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐŚĂǀĞŶŽƚďĞĞŶŚĞĚŐĞĚĚƵĞƚŽƚŚĞƵŶĐĞƌƚĂŝŶƚLJŝŶƚŚĞƟŵŝŶŐŽĨƚŚĞƌĞĐĞŝƉƚͬƐĞƩůĞŵĞŶƚ͘

 dŚĞĨŽůůŽǁŝŶŐƚĂďůĞŝůůƵƐƚƌĂƚĞƐƚŚĞĞīĞĐƚŽĨĐŚĂŶŐĞƐŝŶĞdžĐŚĂŶŐĞƌĂƚĞŽŶƚŚĞƚƌĂŶƐůĂƟŽŶŽĨƚŚĞŵĂƚĞƌŝĂůƵŶŚĞĚŐĞĚĮŶĂŶĐŝĂů
ĂƐƐĞƚƐŽƌůŝĂďŝůŝƟĞƐĂŐĂŝŶƐƚƚŚĞĨƵŶĐƟŽŶĂůĐƵƌƌĞŶĐLJĂƚϯϬ:ƵŶĞďĂƐĞĚŽŶĂϱйŵŽǀĞŵĞŶƚŝŶƌĂƚĞƐ͕ǁŚŝĐŚŝƐĂƌĞĂƐŽŶĂďůĞ
ĂƐƐƵŵƉƟŽŶďĂƐĞĚŽŶƌĞĐĞŶƚǀŽůĂƟůŝƚLJŽĨƚŚĞĞdžĐŚĂŶŐĞƌĂƚĞƐ͘

Foreign /ŵƉĂĐƚŽŶ
Group &ƵŶĐƟŽŶĂů Foreign Amount in ĐƵƌƌĞŶĐLJ ƉƌŽĮƚďĞĨŽƌĞ
2018 ĐƵƌƌĞŶĐLJ ĐƵƌƌĞŶĐLJ RM ƐĐĞŶĂƌŝŽ ƚĂdž
ZĞĐĞŝǀĂďůĞƐĂŶĚďĂŶŬďĂůĂŶĐĞƐ HKD RMB 216 (5%) (11)

2017
ZĞĐĞŝǀĂďůĞƐ͕ƉĂLJĂďůĞƐĂŶĚďĂŶŬďĂůĂŶĐĞƐ;ŶĞƚͿ ,< ZD ϭϯϱ ;ϱйͿ ;ϳͿ

page 250 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϭ &/EE/>Z/^<DE'DEdΈKEd/EhΉ

 ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ď͘ /ŶƚĞƌĞƐƚƌĂƚĞƌŝƐŬ

 dŚĞƉĞƌĐĞŶƚĂŐĞƐŽĨĮdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐ͕ďŽƚŚďĞĨŽƌĞĂŶĚĂŌĞƌƚĂŬŝŶŐŝŶƚŽĂĐĐŽƵŶƚƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉ;/Z^ͿĐŽŶƚƌĂĐƚƐ͕ƚŽ
ƚŚĞƚŽƚĂůďŽƌƌŽǁŝŶŐƐŽĨĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐĂƌĞĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
dŽƚĂůďŽƌƌŽǁŝŶŐƐ 2,889 ϯ͕ϮϬϱ – ϳϬϭ

&ŝdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐ 37 ϳϱϬ – ϳϬϭ

&ůŽĂƟŶŐƌĂƚĞďŽƌƌŽǁŝŶŐƐ;ƐǁĂƉƉĞĚƚŽĮdžĞĚͿ 175 ϱϰϵ – –
dŽƚĂůĮdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐĂŌĞƌƐǁĂƉ 212 ϭ͕Ϯϵϵ – ϳϬϭ

WĞƌĐĞŶƚĂŐĞŽĨĮdžĞĚƌĂƚĞďŽƌƌŽǁŝŶŐƐŽǀĞƌƚŽƚĂů
ďŽƌƌŽǁŝŶŐƐ͗
Ͳ ďĞĨŽƌĞƐǁĂƉ;йͿ 1.3 Ϯϯ͘ϰ – ϭϬϬ͘Ϭ
Ͳ ĂŌĞƌƐǁĂƉ;йͿ 7.3 ϰϬ͘ϱ – ϭϬϬ͘Ϭ

 DŽƐƚŽĨƚŚĞďŽƌƌŽǁŝŶŐƐŽŶŇŽĂƟŶŐƌĂƚĞƐƚŚĂƚŚĂǀĞŶŽƚďĞĞŶƐǁĂƉƉĞĚĂƌĞƐŚŽƌƚƚĞƌŵďŽƌƌŽǁŝŶŐƐŵĂŝŶůLJĨŽƌǁŽƌŬŝŶŐĐĂƉŝƚĂů
ƉƵƌƉŽƐĞƐĂŶĚƚƌĂĚĞůŝŶĞƐŽĨƚŚĞ/ŶĚƵƐƚƌŝĂůĂŶĚDŽƚŽƌƐĚŝǀŝƐŝŽŶƐ͘

 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞ'ƌŽƵƉ͛ƐŇŽĂƟŶŐƌĂƚĞďŽƌƌŽǁŝŶŐƐŽĨƚŚĞĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐŶŽƚƐǁĂƉƉĞĚƚŽĮdžĞĚƐƚŽŽĚĂƚZDϮ͕ϲϳϳ
ŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϭ͕ϵϬϲŵŝůůŝŽŶͿ͘dŚĞĨŽůůŽǁŝŶŐƚĂďůĞĚĞŵŽŶƐƚƌĂƚĞƐƚŚĞĞīĞĐƚŽĨĐŚĂŶŐĞƐŝŶŝŶƚĞƌĞƐƚƌĂƚĞŽĨŇŽĂƟŶŐƌĂƚĞ
ďŽƌƌŽǁŝŶŐƐĂŌĞƌƚĂŬŝŶŐŝŶƚŽĂĐĐŽƵŶƚƚŚĞ/Z^ĐŽŶƚƌĂĐƚƐŵĞŶƟŽŶĞĚŝŶƚŚĞƉƌĞĐĞĚŝŶŐƉĂƌĂŐƌĂƉŚ͘/ĨƚŚĞŝŶƚĞƌĞƐƚƌĂƚĞŝŶĐƌĞĂƐĞĚďLJ
ϭйŝŶƚŚĞĨŽůůŽǁŝŶŐĐƵƌƌĞŶĐŝĞƐŽĨďŽƌƌŽǁŝŶŐƐ͕ƚŚĞ'ƌŽƵƉ͛ƐĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ͛ƉƌŽĮƚďĞĨŽƌĞƚĂdžǁŝůůďĞŚŝŐŚĞƌͬ;ůŽǁĞƌͿďLJ͗

2018 /ŵƉĂĐƚ
WƌŽĮƚďĞĨŽƌĞƚĂdž
Ͳ 'ƌŽƵƉ;ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐͿ (27)

2017
WƌŽĮƚďĞĨŽƌĞƚĂdž
Ͳ 'ƌŽƵƉ;ĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐͿ ;ϭϵͿ

 ϭйĚĞĐƌĞĂƐĞŝŶŝŶƚĞƌĞƐƚƌĂƚĞǁŽƵůĚŚĂǀĞĂŶĞƋƵĂůďƵƚŽƉƉŽƐŝƚĞĞīĞĐƚ͘

ANNUAL REPORT 2018 page 251

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϭ &/EE/>Z/^<DE'DEdΈKEd/EhΉ

 ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Đ͘ ƌĞĚŝƚƌŝƐŬ

 dŚĞŵĂdžŝŵƵŵĞdžƉŽƐƵƌĞĂŶĚĐŽůůĂƚĞƌĂůĂŶĚĐƌĞĚŝƚĞŶŚĂŶĐĞŵĞŶƚƐĂƌĞĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
DĂdžŝŵƵŵĞdžƉŽƐƵƌĞ
ŵŽƵŶƚƐĚƵĞĨƌŽŵƐƵďƐŝĚŝĂƌŝĞƐ – – 6,034 ϵ͕ϲϱϱ
ZĞĐĞŝǀĂďůĞƐ 4,889 ϰ͕ϭϴϱ 4 –
&ŝŶĂŶĐŝĂůĂƐƐĞƚƐŽĨt^tĂƚĞƌ
;ƵŶĚĞƌĚŝƐƉŽƐĂůŐƌŽƵƉƐͿ 45 – – –
ĞƌŝǀĂƟǀĞĂƐƐĞƚƐ 66 ϭϰϭ – –
ĂŶŬďĂůĂŶĐĞƐ͕ĚĞƉŽƐŝƚƐĂŶĚĐĂƐŚ 1,672 Ϯ͕ϬϳϮ 163 ϮϬϬ
ƌĞĚŝƚƌŝƐŬŽĨĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 6,672 ϲ͕ϯϵϴ 6,201 ϵ͕ϴϱϱ
ƌĞĚŝƚƌŝƐŬŽĨĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ – ϱ͕ϱϯϲ – –
6,672 ϭϭ͕ϵϯϰ 6,201 ϵ͕ϴϱϱ

ŽůůĂƚĞƌĂůĂŶĚĐƌĞĚŝƚĞŶŚĂŶĐĞŵĞŶƚ
ZĞĐĞŝǀĂďůĞƐ 326 ϴϭϲ – –

 dŚĞĐƌĞĚŝƚƌŝƐŬƐĐŽŶĐĞŶƚƌĂƟŽŶƉƌŽĮůĞŽĨƚŚĞ'ƌŽƵƉ͛ƐŶĞƚƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐĂŶĂůLJƐĞĚďLJĐŽƵŶƚƌLJǁŚĞƌĞƚŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐĂŶĚ
ďLJƌĞƉŽƌƚĂďůĞƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
2018 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ KƚŚĞƌƐ Total
DĂůĂLJƐŝĂ 305 423 – 86 814
KƚŚĞƌĐŽƵŶƚƌŝĞƐŝŶ^ŽƵƚŚ
ĂƐƚƐŝĂ 175 166 – 2 343
ŚŝŶĂ ϭ
414 150 32 1 597
Australasia Ϯ
1,023 198 – – 1,221
1,917 937 32 89 2,975

page 252 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϭ &/EE/>Z/^<DE'DEdΈKEd/EhΉ

 ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Đ͘ ƌĞĚŝƚƌŝƐŬ;ĐŽŶƟŶƵĞĚͿ

 dŚĞĐƌĞĚŝƚƌŝƐŬƐĐŽŶĐĞŶƚƌĂƟŽŶƉƌŽĮůĞŽĨƚŚĞ'ƌŽƵƉ͛ƐŶĞƚƚƌĂĚĞƌĞĐĞŝǀĂďůĞƐĂŶĂůLJƐĞĚďLJĐŽƵŶƚƌLJǁŚĞƌĞƚŚĞ'ƌŽƵƉŽƉĞƌĂƚĞƐĂŶĚ
ďLJƌĞƉŽƌƚĂďůĞƐĞŐŵĞŶƚĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ
ŝƐĐŽŶƟŶƵĞĚ
2017 /ŶĚƵƐƚƌŝĂů DŽƚŽƌƐ >ŽŐŝƐƟĐƐ KƚŚĞƌƐ Total ŽƉĞƌĂƟŽŶƐ Total
DĂůĂLJƐŝĂ ϮϯϮ ϯϮϮ – ϮϮ ϱϳϲ ϭ͕Ϯϰϰ ϭ͕ϴϮϬ
KƚŚĞƌĐŽƵŶƚƌŝĞƐŝŶ^ŽƵƚŚ
ĂƐƚƐŝĂ ϭϮϵ ϭϰϵ – ϭ Ϯϳϵ ϭϳϲ ϰϱϱ
ŚŝŶĂϭ ϯϲϴ ϭϮϭ ϰϭ ϭ ϱϯϭ – ϱϯϭ
AustralasiaϮ ϳϰϱ Ϯϱϰ – – ϵϵϵ Ϯϯϲ ϭ͕Ϯϯϱ
ƵƌŽƉĞ – – – – – ϯϱϭ ϯϱϭ
Other countries – – – – – ϵϳ ϵϳ
ϭ͕ϰϳϰ ϴϰϲ ϰϭ Ϯϰ Ϯ͕ϯϴϱ Ϯ͕ϭϬϰ ϰ͕ϰϴϵ

 dŚĞŽŵƉĂŶLJŚĂƐŶŽƐŝŐŶŝĮĐĂŶƚĐŽŶĐĞŶƚƌĂƟŽŶŽĨĐƌĞĚŝƚƌŝƐŬƐĞdžĐĞƉƚĨŽƌůŽĂŶƐƚŽŝƚƐƐƵďƐŝĚŝĂƌŝĞƐǁŚĞƌĞƌŝƐŬŽĨĚĞĨĂƵůƚŚĂƐďĞĞŶ
ĂƐƐĞƐƐĞĚƚŽďĞůŽǁ͘

υ
 ŚŝŶĂĐŽŶƐŝƐƚƐŽĨŚŝŶĂ͕,ŽŶŐ<ŽŶŐ͕DĂĐĂƵĂŶĚdĂŝǁĂŶ
Ϯ
 ƵƐƚƌĂůĂƐŝĂĐŽŶƐŝƐƚƐŽĨƵƐƚƌĂůŝĂ͕EĞǁĂůĞĚŽŶŝĂ͕EĞǁĞĂůĂŶĚ͕WĂƉƵĂEĞǁ'ƵŝŶĞĂĂŶĚ^ŽůŽŵŽŶ/ƐůĂŶĚƐ

Ě͘ >ŝƋƵŝĚŝƚLJĂŶĚĐĂƐŚŇŽǁƌŝƐŬ

 dŚĞƵŶĚŝƐĐŽƵŶƚĞĚĐŽŶƚƌĂĐƚƵĂůĐĂƐŚŇŽǁƐŽĨƚŚĞĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

On demand Between Between Total Total

Group ŽƌǁŝƚŚŝŶ 1 and 2 2 and 5 ďŽǀĞ ĐŽŶƚƌĂĐƚƵĂů ĐĂƌƌLJŝŶŐ
2018 1 year LJĞĂƌƐ LJĞĂƌƐ ϱLJĞĂƌƐ ĐĂƐŚŇŽǁƐ amount
ŽƌƌŽǁŝŶŐƐ
- principal 2,641 70 163 14 2,888 2,888
- interest 16 9 11 3 39 1
WĂLJĂďůĞƐ 4,760 54 – – 4,814 4,814
7,417 133 174 17 7,741 7,703
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐŝŶĐůƵĚĞĚ
ŝŶůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚ
ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ 15 – – – 15 15
7,432 133 174 17 7,756 7,718

ANNUAL REPORT 2018 page 253

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϭ &/EE/>Z/^<DE'DEdΈKEd/EhΉ

ĞƚĂŝůƐŽĨĞĂĐŚĮŶĂŶĐŝĂůƌŝƐŬĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ě͘ >ŝƋƵŝĚŝƚLJĂŶĚĐĂƐŚŇŽǁƌŝƐŬ;ĐŽŶƟŶƵĞĚͿ

 dŚĞƵŶĚŝƐĐŽƵŶƚĞĚĐŽŶƚƌĂĐƚƵĂůĐĂƐŚŇŽǁƐŽĨƚŚĞĮŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

On
demand or Between Between Total Total
Group ǁŝƚŚŝŶ 1 and 2 2 and 5 ďŽǀĞ ĐŽŶƚƌĂĐƚƵĂů ĐĂƌƌLJŝŶŐ
2017 1 year LJĞĂƌƐ LJĞĂƌƐ ϱLJĞĂƌƐ ĐĂƐŚŇŽǁƐ amount
ŽƌƌŽǁŝŶŐƐ
- principal ϭ͕ϵϰϴ ϯϭϬ ϭϴϴ ϳϱϳ ϯ͕ϮϬϯ ϯ͕ϮϬϮ
- interest ϭϬϬ ϰϱ ϭϭϰ ϭϮϴ ϯϴϳ ϯ
WĂLJĂďůĞƐ ϰ͕ϯϰϴ – – – ϰ͕ϯϰϴ ϰ͕ϯϰϴ
ϲ͕ϯϵϲ ϯϱϱ ϯϬϮ ϴϴϱ ϳ͕ϵϯϴ ϳ͕ϱϱϯ
&ŝŶĂŶĐŝĂůůŝĂďŝůŝƟĞƐŝŶĐůƵĚĞĚ
ŝŶůŝĂďŝůŝƟĞƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚ
ĂƐƐĞƚƐŚĞůĚĨŽƌƐĂůĞ ϱ͕ϰϬϬ ϭ͕ϰϲϭ ϱ͕ϳϭϲ Ϯ͕ϬϱϮ ϭϰ͕ϲϮϵ ϭϯ͕ϯϳϱ
ϭϭ͕ϳϵϲ ϭ͕ϴϭϲ ϲ͕Ϭϭϴ Ϯ͕ϵϯϳ ϮϮ͕ϱϲϳ ϮϬ͕ϵϮϴ

On
demand or Between Between Total Total
Company ǁŝƚŚŝŶ 1 and 2 2 and 5 ďŽǀĞ ĐŽŶƚƌĂĐƚƵĂů ĐĂƌƌLJŝŶŐ
2018 1 year LJĞĂƌƐ LJĞĂƌƐ ϱLJĞĂƌƐ ĐĂƐŚŇŽǁƐ amount
WĂLJĂďůĞƐ 6 – – – 6 6

2017
ŽƌƌŽǁŝŶŐƐ
- principal – – – ϳϬϬ ϳϬϬ ϳϬϬ
- interest Ϯϵ Ϯϵ ϴϴ ϭϬϮ Ϯϰϴ ϭ
WĂLJĂďůĞƐ ϭϲ – – – ϭϲ ϭϲ
ϰϱ Ϯϵ ϴϴ ϴϬϮ ϵϲϰ ϳϭϳ

page 254 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

52 CONTINGENT LIABILITIES AND COMMITMENTS

ŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐĂŶĚĐŽŵŵŝƚŵĞŶƚƐĂƌĞĂƐĨŽůůŽǁƐ͗

Ă͘ 'ƵĂƌĂŶƚĞĞƐ

 /ŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐ͕ƚŚĞ'ƌŽƵƉŵĂLJŽďƚĂŝŶƐƵƌĞƚLJďŽŶĚƐĂŶĚůĞƩĞƌƐŽĨĐƌĞĚŝƚ͕ǁŚŝĐŚƚŚĞ'ƌŽƵƉƉƌŽǀŝĚĞƐƚŽ
ĐƵƐƚŽŵĞƌƐƚŽƐĞĐƵƌĞĂĚǀĂŶĐĞƉĂLJŵĞŶƚ͕ƉĞƌĨŽƌŵĂŶĐĞƵŶĚĞƌĐŽŶƚƌĂĐƚƐŽƌŝŶůŝĞƵŽĨƌĞƚĞŶƟŽŶďĞŝŶŐǁŝƚŚŚĞůĚŽŶĐŽŶƚƌĂĐƚƐ͘
ůŝĂďŝůŝƚLJǁŽƵůĚŽŶůLJĂƌŝƐĞŝŶƚŚĞĞǀĞŶƚƚŚĞ'ƌŽƵƉĨĂŝůƐƚŽĨƵůĮůůŝƚƐĐŽŶƚƌĂĐƚƵĂůŽďůŝŐĂƟŽŶƐ͘

 dŚĞŽŵƉĂŶLJŚĂƐĂůƐŽƉƌŽǀŝĚĞĚĂƉĞƌĨŽƌŵĂŶĐĞŐƵĂƌĂŶƚĞĞƚŽĂĐƵƐƚŽŵĞƌŽĨĂƐƵďƐŝĚŝĂƌLJƚŽƐĞĐƵƌĞƉĞƌĨŽƌŵĂŶĐĞƵŶĚĞƌĐŽŶƚƌĂĐƚƐ
ŽƌŝŶůŝĞƵŽĨƌĞƚĞŶƟŽŶǁŝƚŚŚĞůĚŽŶĐŽŶƚƌĂĐƚƐ͘

 dŚĞŽƵƚƐƚĂŶĚŝŶŐŐƵĂƌĂŶƚĞĞƐĂƐĂƚϯϬ:ƵŶĞĂƌĞĂƐĨŽůůŽǁƐ͗

Group Company
2018 2017 2018 2017
WĞƌĨŽƌŵĂŶĐĞĂŶĚĂĚǀĂŶĐĞƉĂLJŵĞŶƚ
ŐƵĂƌĂŶƚĞĞƐƚŽĐƵƐƚŽŵĞƌƐŽĨ͗
Ͳ ƐƵďƐŝĚŝĂƌŝĞƐ – – 1,582 ϭ͕ϱϴϮ
Ͳ ƚŚĞ'ƌŽƵƉ 2,193 Ϯ͕ϯϲϮ – –
'ƵĂƌĂŶƚĞĞƐŝŶƌĞƐƉĞĐƚŽĨĐƌĞĚŝƚ
ĨĂĐŝůŝƟĞƐŐƌĂŶƚĞĚƚŽ͗
Ͳ ĐĞƌƚĂŝŶƐƵďƐŝĚŝĂƌŝĞƐ – – 220 ϲϵϭ
Ͳ ĐĞƌƚĂŝŶĂƐƐŽĐŝĂƚĞƐĂŶĚũŽŝŶƚǀĞŶƚƵƌĞƐ 218 ϭϳϲ – –
2,411 Ϯ͕ϱϯϴ 1,802 Ϯ͕Ϯϳϯ
KƵƚƐƚĂŶĚŝŶŐŐƵĂƌĂŶƚĞĞƐĨŽƌĚŝƐĐŽŶƟŶƵĞĚ
ŽƉĞƌĂƟŽŶƐ – ϵϲ – –
2,411 Ϯ͕ϲϯϰ 1,802 Ϯ͕Ϯϳϯ

 /ŶĂĚĚŝƟŽŶ͕ƚŚĞ'ƌŽƵƉŐƵĂƌĂŶƚĞĞƐƚŚĞƉĂLJŵĞŶƚĨƌŽŵŝƚƐĐƵƐƚŽŵĞƌƐƵŶĚĞƌĂƌŝƐŬƐŚĂƌŝŶŐĂƌƌĂŶŐĞŵĞŶƚǁŝƚŚĂƚŚŝƌĚƉĂƌƚLJ
ůĞĂƐŝŶŐĐŽŵƉĂŶLJŝŶĐŽŶŶĞĐƟŽŶǁŝƚŚƚŚĞƐĂůĞŽĨŝƚƐĞƋƵŝƉŵĞŶƚƵƉƚŽĂƉƌĞͲĚĞƚĞƌŵŝŶĞĚĂŵŽƵŶƚ͘ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ƚŚĞƚŽƚĂů
ŽƵƚƐƚĂŶĚŝŶŐƌŝƐŬƐŚĂƌŝŶŐĂŵŽƵŶƚŽŶǁŚŝĐŚƚŚĞ'ƌŽƵƉŚĂƐĂŶŽďůŝŐĂƟŽŶƚŽƉĂLJƚŚĞůĞĂƐŝŶŐĐŽŵƉĂŶLJƐŚŽƵůĚƚŚĞĐƵƐƚŽŵĞƌƐ
ĚĞĨĂƵůƚ͕ĂŵŽƵŶƚĞĚƚŽZDϮϳϬŵŝůůŝŽŶ;ϮϬϭϳ͗ZDϮϮϲŵŝůůŝŽŶͿ͘

ANNUAL REPORT 2018 page 255

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϮ KEd/E'Ed>//>/d/^EKDD/dDEd^ΈKEd/EhΉ

ŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐĂŶĚĐŽŵŵŝƚŵĞŶƚƐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ď͘ ůĂŝŵƐ

 ƐĂƚϯϬ:ƵŶĞϮϬϭϴ͕ĐůĂŝŵƐŶŽƚƚĂŬĞŶƵƉŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶĂƌĞĂƐĨŽůůŽǁƐ͗

Group 2018 2017

ŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ 4 ϭϰ
ŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ – ϭϲ
4 ϯϬ

 dŚĞƐĞĐůĂŝŵƐŝŶĐůƵĚĞĚŝƐƉƵƚĞĚĂŵŽƵŶƚƐĨŽƌƚŚĞƐƵƉƉůLJŽĨŐŽŽĚƐĂŶĚƐĞƌǀŝĐĞƐ͘

 dŚĞƌĞǁĞƌĞŶŽĐůĂŝŵƐĂŐĂŝŶƐƚƚŚĞŽŵƉĂŶLJĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗EŝůͿ͘

Đ͘ ĂƉŝƚĂůĐŽŵŵŝƚŵĞŶƚƐ

 ƵƚŚŽƌŝƐĞĚĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞŶŽƚƉƌŽǀŝĚĞĚĨŽƌŝŶƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͗

Group ŽŶƟŶƵŝŶŐ
2018 ŽƉĞƌĂƟŽŶƐ
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ
Ͳ ĐŽŶƚƌĂĐƚĞĚ 184
Ͳ ŶŽƚĐŽŶƚƌĂĐƚĞĚ 620
804
KƚŚĞƌĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞ
Ͳ ĐŽŶƚƌĂĐƚĞĚ 69
Ͳ ŶŽƚĐŽŶƚƌĂĐƚĞĚ –
873

ŽŶƟŶƵŝŶŐ ŝƐĐŽŶƟŶƵĞĚ
2017 ŽƉĞƌĂƟŽŶƐ ŽƉĞƌĂƟŽŶƐ Total
WƌŽƉĞƌƚLJ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚ
Ͳ ĐŽŶƚƌĂĐƚĞĚ ϮϮϵ Ϯϵϱ ϱϮϰ
Ͳ ŶŽƚĐŽŶƚƌĂĐƚĞĚ ϴϯϳ ϵϳϱ ϭ͕ϴϭϮ
ϭ͕Ϭϲϲ ϭ͕ϮϳϬ Ϯ͕ϯϯϲ
KƚŚĞƌĐĂƉŝƚĂůĞdžƉĞŶĚŝƚƵƌĞ
Ͳ ĐŽŶƚƌĂĐƚĞĚ ϰϮ Ϯϵϭ ϯϯϯ
Ͳ ŶŽƚĐŽŶƚƌĂĐƚĞĚ ϯϵ – ϯϵ
ϭ͕ϭϰϳ ϭ͕ϱϲϭ Ϯ͕ϳϬϴ

page 256 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϮ KEd/E'Ed>//>/d/^EKDD/dDEd^ΈKEd/EhΉ

ŽŶƟŶŐĞŶƚůŝĂďŝůŝƟĞƐĂŶĚĐŽŵŵŝƚŵĞŶƚƐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Đ͘ ĂƉŝƚĂůĐŽŵŵŝƚŵĞŶƚƐ;ĐŽŶƟŶƵĞĚͿ

 ƐĂƚϯϬ:ƵŶĞϮϬϭϳ͕ƉƵƌƐƵĂŶƚƚŽƚŚĞ^ƵďƐĐƌŝƉƟŽŶĂŶĚ^ŚĂƌĞŚŽůĚĞƌƐ͛ŐƌĞĞŵĞŶƚ͕ǁŚŝĐŚŝƐƌĞŝƚĞƌĂƚĞĚƚŚƌŽƵŐŚ>ĞƩĞƌƐŽĨ
hŶĚĞƌƚĂŬŝŶŐŝƐƐƵĞĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŽĨĂƩĞƌƐĞĂWƌŽũĞĐƚ,ŽůĚŝŶŐŽŵƉĂŶLJ>ŝŵŝƚĞĚ;ĂƩĞƌƐĞĂͿƚŽĂƩĞƌƐĞĂ͕ƚŚĞ
ƐŚĂƌĞŚŽůĚĞƌƐĂƌĞĐŽŵŵŝƩĞĚƚŽƐƵďƐĐƌŝďĞĨŽƌƐŚĂƌĞƐŝŶĂƩĞƌƐĞĂŝŶƉƌŽƉŽƌƟŽŶƚŽƚŚĞŝƌƌĞƐƉĞĐƟǀĞƐŚĂƌĞŚŽůĚŝŶŐƐǁŚĞŶĂĐĂƉŝƚĂů
ĐĂůůŝƐŵĂĚĞĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĞŶƐƵƌŝŶŐĂƩĞƌƐĞĂĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐĂƌĞĂďůĞƚŽŵĞĞƚƚŚĞŝƌƌĞƐƉĞĐƟǀĞĨƵŶĚŝŶŐŽďůŝŐĂƟŽŶƐ͘

 dŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚŚĂǀĞĂŶLJĐĂƉŝƚĂůĐŽŵŵŝƚŵĞŶƚƐĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗EŝůͿ͘

Ě͘ >ĞĂƐĞƐ

dŚĞĨƵƚƵƌĞŵŝŶŝŵƵŵůĞĂƐĞƉĂLJŵĞŶƚƐƵŶĚĞƌŶŽŶͲĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞƐĂƌĞĂƐĨŽůůŽǁƐ͗

Group ŽŶƟŶƵŝŶŐ ŝƐĐŽŶƟŶƵĞĚ

2018 ŽƉĞƌĂƟŽŶƐ ŽƉĞƌĂƟŽŶƐ Total
ƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ 444 – 444
ƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌďƵƚŶŽƚůĂƚĞƌƚŚĂŶĮǀĞLJĞĂƌƐ 798 – 798
ƵĞůĂƚĞƌƚŚĂŶĮǀĞLJĞĂƌƐ 676 – 676
1,918 – 1,918

2017
ƵĞŶŽůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌ ϰϮϯ ϭϱ ϰϯϴ
ƵĞůĂƚĞƌƚŚĂŶŽŶĞLJĞĂƌďƵƚŶŽƚůĂƚĞƌƚŚĂŶĮǀĞLJĞĂƌƐ ϴϯϮ ϰϰ ϴϳϲ
ƵĞůĂƚĞƌƚŚĂŶĮǀĞLJĞĂƌƐ ϯϯϴ ϭϯϭ ϰϲϵ
ϭ͕ϱϵϯ ϭϵϬ ϭ͕ϳϴϯ

dŚĞŽŵƉĂŶLJĚŽĞƐŶŽƚŚĂǀĞĂŶLJŶŽŶͲĐĂŶĐĞůůĂďůĞŽƉĞƌĂƟŶŐůĞĂƐĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴ;ϮϬϭϳ͗EŝůͿ͘

ANNUAL REPORT 2018 page 257

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

53 RESTATEMENT AND RECLASSIFICATION

Ă͘ ^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚŽƌ>ŽƐƐ

 dŚĞ'ƌŽƵƉŚĂƐƌĞĐůĂƐƐŝĮĞĚŐĂŝŶƐͬ;ůŽƐƐĞƐͿŽŶĚŝƐƉŽƐĂůƐĂŶĚ;ŝŵƉĂŝƌŵĞŶƚƐͿͬƌĞǀĞƌƐĂůŽĨŝŵƉĂŝƌŵĞŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚ
ϯϬ:ƵŶĞϮϬϭϳĨƌŽŵŽƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐĂŶĚŽƚŚĞƌŽƉĞƌĂƟŶŐŝŶĐŽŵĞƚŽŽƚŚĞƌŐĂŝŶƐŽƌůŽƐƐĞƐƚŽĐŽŶĨŽƌŵǁŝƚŚƚŚĞĐƵƌƌĞŶƚLJĞĂƌ͛Ɛ
ƉƌĞƐĞŶƚĂƟŽŶ͘dŚĞƌĞƐƚĂƚĞŵĞŶƚŚĂĚŶŽŝŵƉĂĐƚŽŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĂŶĚƐƚĂƚĞŵĞŶƚŽĨĮŶĂŶĐŝĂůƉŽƐŝƟŽŶ͘

^ƚĂƚĞŵĞŶƚŽĨWƌŽĮƚŽƌ>ŽƐƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚ ƐƉƌĞǀŝŽƵƐůLJ
30 June 2017 reported ZĞĐůĂƐƐŝĮĐĂƟŽŶ ƐƌĞƐƚĂƚĞĚ
KƉĞƌĂƟŶŐĞdžƉĞŶƐĞƐ ;ϯϬ͕ϴϴϱͿ Ϯϳϭ ;ϯϬ͕ϲϭϰͿ
KƚŚĞƌŽƉĞƌĂƟŶŐŝŶĐŽŵĞ ϯϵϵ ;ϴϲͿ ϯϭϯ
KƚŚĞƌŐĂŝŶƐĂŶĚůŽƐƐĞƐ ϭϯϳ ;ϭϴϱͿ ;ϰϴͿ

ď͘ ^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƟŽŶ

 dŚĞ'ƌŽƵƉŚĂƐƌĞĐůĂƐƐŝĮĞĚĐĞƌƚĂŝŶƉĂLJĂďůĞƐĂŵŽƵŶƟŶŐƚŽZDϴϬŵŝůůŝŽŶĨƌŽŵĐƵƌƌĞŶƚƚŽŶŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐƚŽƌĞŇĞĐƚƚŚĞ
ƐĞƩůĞŵĞŶƚƉĞƌŝŽĚĂŶĚƚŚĞƉƌŽǀŝƐŝŽŶĨŽƌůŝƋƵŝĚĂƚĞĚĂƐĐĞƌƚĂŝŶĞĚĚĂŵĂŐĞƐŽĨZDϮϬϰŵŝůůŝŽŶĨƌŽŵĐŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐƚŽƉƌŽǀŝƐŝŽŶƐ
ƚŽĐŽŶĨŽƌŵǁŝƚŚƚŚĞĐƵƌƌĞŶƚLJĞĂƌ͛ƐƉƌĞƐĞŶƚĂƟŽŶ͘dŚĞƌĞƐƚĂƚĞŵĞŶƚŚĂĚŶŽŝŵƉĂĐƚŽŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨƉƌŽĮƚŽƌůŽƐƐĂŶĚ
ƐƚĂƚĞŵĞŶƚŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͘

^ƚĂƚĞŵĞŶƚŽĨ&ŝŶĂŶĐŝĂůWŽƐŝƟŽŶĂƐĂƚ ƐƉƌĞǀŝŽƵƐůLJ
30 June 2017 reported ZĞĐůĂƐƐŝĮĐĂƟŽŶ ƐƌĞƐƚĂƚĞĚ
EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
WĂLJĂďůĞƐ – ϴϬ ϴϬ

ƵƌƌĞŶƚůŝĂďŝůŝƟĞƐ
WĂLJĂďůĞƐ ϰ͕ϯϰϴ ;ϴϬͿ ϰ͕Ϯϲϴ
ŽŶƚƌĂĐƚůŝĂďŝůŝƟĞƐ ϭ͕ϯϭϵ ;ϮϬϰͿ ϭ͕ϭϭϱ
WƌŽǀŝƐŝŽŶƐ ϭϳϬ ϮϬϰ ϯϳϰ

Đ͘ ^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐ

 dŚĞ'ƌŽƵƉŚĂƐƌĞĐůĂƐƐŝĮĞĚƉĂLJŵĞŶƚďLJĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐƚŽĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞ
ϮϬϭϳĂƐƉĂƌƚŽĨŝŶǀĞƐƟŶŐĐĂƐŚŇŽǁŽĨĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐĂŶĚĮŶĂŶĐŝŶŐĐĂƐŚŇŽǁŽĨĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐƚŽĐŽŶĨŽƌŵ
ǁŝƚŚƚŚĞĐƵƌƌĞŶƚLJĞĂƌ͛ƐƉƌĞƐĞŶƚĂƟŽŶ͘

^ƚĂƚĞŵĞŶƚŽĨĂƐŚ&ůŽǁƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚ ƐƉƌĞǀŝŽƵƐůLJ
30 June 2017 reported ZĞĐůĂƐƐŝĮĐĂƟŽŶ ƐƌĞƐƚĂƚĞĚ
/ŶǀĞƐƟŶŐĐĂƐŚŇŽǁĨƌŽŵĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ϯϲϲ ϭ͕ϱϰϴ ϭ͕ϵϭϰ
/ŶǀĞƐƟŶŐĐĂƐŚŇŽǁƵƐĞĚŝŶĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ;ϭ͕ϴϭϯͿ – ;ϭ͕ϴϭϯͿ
EĞƚĐĂƐŚ;ƵƐĞĚŝŶͿͬĨƌŽŵŝŶǀĞƐƟŶŐĂĐƟǀŝƟĞƐ ;ϭ͕ϰϰϳͿ ϭ͕ϱϰϴ ϭϬϭ

&ŝŶĂŶĐŝŶŐĐĂƐŚŇŽǁƵƐĞĚŝŶĐŽŶƟŶƵŝŶŐŽƉĞƌĂƟŽŶƐ ;ϯ͕ϰϲϵͿ – ;ϯ͕ϰϲϵͿ

&ŝŶĂŶĐŝŶŐĐĂƐŚŇŽǁĨƌŽŵͬ;ƵƐĞĚŝŶͿĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶƐ ϭϲϵ ;ϭ͕ϱϰϴͿ ;ϭ͕ϯϳϵͿ
EĞƚĐĂƐŚƵƐĞĚŝŶĮŶĂŶĐŝŶŐĂĐƟǀŝƟĞƐ ;ϯ͕ϯϬϬͿ ;ϭ͕ϱϰϴͿ ;ϰ͕ϴϰϴͿ

page 258 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

54 MATERIAL LITIGATION

dŚĞŵĂƚĞƌŝĂůůŝƟŐĂƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂƌĞĂƐĨŽůůŽǁƐ͗

Ă͘ YĂƚĂƌWĞƚƌŽůĞƵŵWƌŽũĞĐƚ;YWWƌŽũĞĐƚͿ͕DĂĞƌƐŬKŝůYĂƚĂƌWƌŽũĞĐƚ;DKYWƌŽũĞĐƚͿĂŶĚƚŚĞDĂƌŝŶĞWƌŽũĞĐƚŝǀŝů^ƵŝƚƐ;KΘ'^ƵŝƚͿ

 KŶϮϯĞĐĞŵďĞƌϮϬϭϬ͕^ŝŵĞĂƌďLJĞƌŚĂĚĂŶĚĨŽƵƌƐƵďƐŝĚŝĂƌŝĞƐ;ĐŽůůĞĐƟǀĞůLJ͕ƚŚĞWůĂŝŶƟīƐͿĮůĞĚĂĐŝǀŝůƐƵŝƚĂŐĂŝŶƐƚĂƚŽ͛^Ğƌŝ
ŚŵĂĚƵďĂŝƌΛŚŵĂĚƵďŝƌ,ũDƵƌƐŚŝĚ͕ĂƚŽ͛DŽŚĂŵĂĚ^ŚƵŬƌŝĂŚĂƌŽŵ͕ďĚƵůZĂŚŝŵ/ƐŵĂŝů͕ďĚƵů<ĂĚŝƌůŝĂƐĂŶĚDŽŚĚ
ĂŬŝKƚŚŵĂŶ;ĐŽůůĞĐƟǀĞůLJ͕ƚŚĞĞĨĞŶĚĂŶƚƐͿĨŽƌĚĂŵĂŐĞƐĂƌŝƐŝŶŐĨƌŽŵƚŚĞĞĨĞŶĚĂŶƚƐ͛ŶĞŐůŝŐĞŶĐĞĂŶĚďƌĞĂĐŚĞƐŽĨĚƵƚLJƌĞůĂƟŶŐ
ƚŽƚŚĞYWWƌŽũĞĐƚ͕ƚŚĞDKYWƌŽũĞĐƚĂŶĚƚŚĞƉƌŽũĞĐƚƌĞůĂƟŶŐƚŽƚŚĞĐŽŶƐƚƌƵĐƟŽŶŽĨĂĚĞƌƌŝĐŬůĂLJďĂƌŐĞ;DĂƌŝŶĞWƌŽũĞĐƚͿĨŽƌĂŶ
ĂŐŐƌĞŐĂƚĞĂŵŽƵŶƚŽĨZDϵϯŵŝůůŝŽŶĂŶĚh^ϳϵŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϯϭϵŵŝůůŝŽŶͿƚŽŐĞƚŚĞƌǁŝƚŚŐĞŶĞƌĂůĂŶĚĂŐŐƌĂǀĂƚĞĚ
ĚĂŵĂŐĞƐĂŶĚŽƚŚĞƌƌĞůŝĞĨ͘

 KŶϭϯ:ƵŶĞϮϬϭϰ͕ĂůůƚŚĞĞĨĞŶĚĂŶƚƐĐŽŶƐĞŶƚĞĚƚŽĂŶ/ŶƚĞƌůŽĐƵƚŽƌLJ:ƵĚŐĞŵĞŶƚďĞŝŶŐƌĞĐŽƌĚĞĚŽŶƚŚĞĞĨĞŶĚĂŶƚƐ͛ůŝĂďŝůŝƚLJĂŶĚ
ĨŽƌĚĂŵĂŐĞƐƚŽďĞĂƐƐĞƐƐĞĚďLJƚŚĞŽƵƌƚ͘dŚĞWůĂŝŶƟīƐƐŚĂůůďĞƉĞƌŵŝƩĞĚƚŽĞŶĨŽƌĐĞĂŶLJĮŶĂůũƵĚŐĞŵĞŶƚĞŶƚĞƌĞĚĂŌĞƌƚŚĞ
ĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐ͕ƵƉŽŶƌĞĐŽǀĞƌŝŶŐĂůůĐůĂŝŵƐĨƌŽŵƚŚĞYWĂŶĚDKYƉƌŽũĞĐƚƐĂŶĚƉƌŽĐĞĞĚƐĨƌŽŵƚŚĞƐĂůĞŽĨƚŚĞĚĞƌƌŝĐŬ
ůĂLJďĂƌŐĞ͕ŽƌĂŌĞƌƚŚĞĞdžƉŝƌLJŽĨϯLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨĮŶĂůũƵĚŐĞŵĞŶƚ͕ǁŚŝĐŚĞǀĞƌŝƐĞĂƌůŝĞƌ͘

 dŚĞWůĂŝŶƟīƐŚĂǀĞĮůĞĚĂEŽƟĐĞŽĨƉƉůŝĐĂƟŽŶĨŽƌĚŝƌĞĐƟŽŶƐƚŽĂƐƐĞƐƐĚĂŵĂŐĞƐ͘dŚĞZĞŐŝƐƚƌĂƌĚŝƌĞĐƚĞĚƚŚĂƚƚŚĞWůĂŝŶƟīƐ͛
ĂƉƉůŝĐĂƟŽŶĨŽƌĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐĨŽƌƚŚĞKŝůΘ'ĂƐ^ƵŝƚĂŶĚƚŚĞĂŬƵŶ^ƵŝƚďĞŚĞĂƌĚƐĞƉĂƌĂƚĞůLJĂŶĚƚŚĂƚƚŚĞĂƐƐĞƐƐŵĞŶƚ
ŽĨĚĂŵĂŐĞƐĨŽƌƚŚĞKŝůΘ'ĂƐ^ƵŝƚǁŝůůďĞŚĞĂƌĚĮƌƐƚ͘dŚĞZĞŐŝƐƚƌĂƌŚĂƐĮdžĞĚƚŚĞŚĞĂƌŝŶŐŽĨƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐŽŶϴƚŽ
ϭϮƉƌŝůϮϬϭϵ͘

 ŽƵŶƐĞůŝƐŽĨƚŚĞǀŝĞǁƚŚĂƚĂƐƚŚĞĞĨĞŶĚĂŶƚƐŚĂǀĞĐŽŶƐĞŶƚĞĚƚŽũƵĚŐĞŵĞŶƚŝŶƌĞƐƉĞĐƚŽĨůŝĂďŝůŝƚLJ͕ƚŚĞŽŶůLJŽƵƚƐƚĂŶĚŝŶŐŵĂƩĞƌ
ǁŽƵůĚďĞƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐƚŽĂƐĐĞƌƚĂŝŶƚŚĞĂĐƚƵĂůůŽƐƐĞƐƐƵīĞƌĞĚďLJƚŚĞWůĂŝŶƟīƐǁŚŝĐŚǁŽƵůĚůĂƌŐĞůLJĚĞƉĞŶĚŽŶ
ƚŚĞĚŽĐƵŵĞŶƚƐĂǀĂŝůĂďůĞĂŶĚƚŚĞĞǀŝĚĞŶĐĞŐŝǀĞŶƚŽĞƐƚĂďůŝƐŚƐƵĐŚůŽƐƐĞƐ͘dŚĞĚĂŵĂŐĞƐƌĞĐŽǀĞƌĂďůĞďLJƚŚĞWůĂŝŶƟīƐǁŝůůĂůƐŽďĞ
ĚĞƉĞŶĚĞŶƚŽŶƚŚĞĂŵŽƵŶƚƌĞĐŽǀĞƌĞĚĨƌŽŵƚŚĞƌĞƐƉĞĐƟǀĞĞŵƉůŽLJĞƌƐĨŽƌƚŚĞYWĂŶĚDKYWƌŽũĞĐƚƐĂŶĚƚŚĞƉƌŽĐĞĞĚƐŽĨƚŚĞƐĂůĞ
ŽĨƚŚĞĚĞƌƌŝĐŬůĂLJďĂƌŐĞŝŶƌĞŐĂƌĚƐŽĨƚŚĞDĂƌŝŶĞWƌŽũĞĐƚǁŝƚŚŝŶƚŚĞƟŵĞĨƌĂŵĞƐƟƉƵůĂƚĞĚ͘

ď͘ ĂŬƵŶ,LJĚƌŽĞůĞĐƚƌŝĐWƌŽũĞĐƚ;ĂŬƵŶWƌŽũĞĐƚͿĂŶĚƚŚĞ/ŶĚĞŵŶŝƚLJŐƌĞĞŵĞŶƚŝǀŝů^ƵŝƚƐ;ĂŬƵŶ^ƵŝƚͿ

 KŶϮϰĞĐĞŵďĞƌϮϬϭϬ͕^ŝŵĞĂƌďLJĞƌŚĂĚĂŶĚƚŚƌĞĞƐƵďƐŝĚŝĂƌŝĞƐ;ĐŽůůĞĐƟǀĞůLJ͕ƚŚĞWůĂŝŶƟīƐͿĮůĞĚĂĐŝǀŝůƐƵŝƚĂŐĂŝŶƐƚĂƚŽ͛^Ğƌŝ
ŚŵĂĚƵďĂŝƌΛŚŵĂĚƵďŝƌ,ũDƵƌƐŚŝĚ͕ĂƚŽ͛DŽŚĂŵĂĚ^ŚƵŬƌŝĂŚĂƌŽŵ;D^ͿĂŶĚďĚƵůZĂŚŝŵ/ƐŵĂŝů;ĐŽůůĞĐƟǀĞůLJ͕ƚŚĞ
ĞĨĞŶĚĂŶƚƐͿĨŽƌĚĂŵĂŐĞƐŝŶĐŽŶŶĞĐƟŽŶǁŝƚŚƚŚĞĞĨĞŶĚĂŶƚƐ͛ŶĞŐůŝŐĞŶĐĞĂŶĚďƌĞĂĐŚĞƐŽĨĚƵƚLJƌĞůĂƟŶŐƚŽƚŚĞWĂĐŬĂŐĞtϮͲ
DĂŝŶŝǀŝůtŽƌŬƐĨŽƌƚŚĞĂŬƵŶWƌŽũĞĐƚĂŶĚŝŶƌĞƐƉĞĐƚŽĨƚŚĞZĞĐĞŝƉƚ͕ŝƐĐŚĂƌŐĞĂŶĚ/ŶĚĞŵŶŝƚLJŐƌĞĞŵĞŶƚĚĂƚĞĚϭϮ:ĂŶƵĂƌLJ
ϮϬϭϬŐŝǀĞŶƚŽD^ĨŽƌĂŶĂŐŐƌĞŐĂƚĞĂŵŽƵŶƚŽĨZDϵϭŵŝůůŝŽŶƚŽŐĞƚŚĞƌǁŝƚŚŐĞŶĞƌĂůĂŶĚĂŐŐƌĂǀĂƚĞĚĚĂŵĂŐĞƐƚŽďĞĂƐƐĞƐƐĞĚ
ĂŶĚŽƚŚĞƌƌĞůŝĞĨ͘

 KŶϭϯ:ƵŶĞϮϬϭϰ͕ĂůůƚŚĞĞĨĞŶĚĂŶƚƐĐŽŶƐĞŶƚĞĚƚŽĂŶ/ŶƚĞƌůŽĐƵƚŽƌLJ:ƵĚŐĞŵĞŶƚďĞŝŶŐƌĞĐŽƌĚĞĚŽŶƚŚĞĞĨĞŶĚĂŶƚƐ͛ůŝĂďŝůŝƚLJ
ĂŶĚĨŽƌĚĂŵĂŐĞƐƚŽďĞĂƐƐĞƐƐĞĚďLJƚŚĞŽƵƌƚ͘dŚĞWůĂŝŶƟīƐƐŚĂůůďĞƉĞƌŵŝƩĞĚƚŽĞŶĨŽƌĐĞĂŶLJĮŶĂůũƵĚŐĞŵĞŶƚĞŶƚĞƌĞĚĂŌĞƌ
ƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐ͕ƵƉŽŶƚŚĞDĂůĂLJƐŝĂͲŚŝŶĂ,LJĚƌŽ:ŽŝŶƚsĞŶƚƵƌĞƌĞĐĞŝǀŝŶŐĨƵůůƐĞƩůĞŵĞŶƚĨƌŽŵ^ĂƌĂǁĂŬ,ŝĚƌŽ^ĚŶ
ŚĚŽƌƚŚĞDŝŶŝƐƚƌLJŽĨ&ŝŶĂŶĐĞŝŶƌĞůĂƟŽŶƚŽƚŚĞĂŬƵŶWƌŽũĞĐƚ͕ŽƌĂŌĞƌƚŚĞĞdžƉŝƌLJŽĨϯLJĞĂƌƐĨƌŽŵƚŚĞĚĂƚĞŽĨĮŶĂůũƵĚŐĞŵĞŶƚ͕
ǁŚŝĐŚĞǀĞƌŝƐĞĂƌůŝĞƌ͘

 dŚĞWůĂŝŶƟīƐŚĂǀĞĮůĞĚĂEŽƟĐĞŽĨƉƉůŝĐĂƟŽŶĨŽƌĚŝƌĞĐƟŽŶƐƚŽĂƐƐĞƐƐĚĂŵĂŐĞƐ͘

ANNUAL REPORT 2018 page 259

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϰ DdZ/>>/d/'d/KEΈKEd/EhΉ

dŚĞŵĂƚĞƌŝĂůůŝƟŐĂƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

ď͘ ĂŬƵŶ,LJĚƌŽĞůĞĐƚƌŝĐWƌŽũĞĐƚ;ĂŬƵŶWƌŽũĞĐƚͿĂŶĚƚŚĞ/ŶĚĞŵŶŝƚLJŐƌĞĞŵĞŶƚŝǀŝů^ƵŝƚƐ;ĂŬƵŶ^ƵŝƚͿ;ĐŽŶƟŶƵĞĚͿ

 dŚĞZĞŐŝƐƚƌĂƌĚŝƌĞĐƚĞĚƚŚĂƚƚŚĞWůĂŝŶƟīƐ͛ĂƉƉůŝĐĂƟŽŶĨŽƌĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐĨŽƌƚŚĞKŝůΘ'ĂƐ^ƵŝƚĂŶĚƚŚĞĂŬƵŶ^ƵŝƚďĞ
ŚĞĂƌĚƐĞƉĂƌĂƚĞůLJĂŶĚƚŚĂƚƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐĨŽƌƚŚĞKŝůΘ'ĂƐ^ƵŝƚǁŝůůďĞŚĞĂƌĚĮƌƐƚďĞĨŽƌĞƚŚĞĂŬƵŶ^Ƶŝƚ͘

 ŽƵŶƐĞůŝƐŽĨƚŚĞǀŝĞǁƚŚĂƚĂƐƚŚĞĞĨĞŶĚĂŶƚƐŚĂǀĞĐŽŶƐĞŶƚĞĚƚŽũƵĚŐĞŵĞŶƚŝŶƌĞƐƉĞĐƚŽĨůŝĂďŝůŝƚLJ͕ƚŚĞŽŶůLJŽƵƚƐƚĂŶĚŝŶŐŵĂƩĞƌ
ǁŽƵůĚďĞƚŚĞĂƐƐĞƐƐŵĞŶƚŽĨĚĂŵĂŐĞƐƚŽĂƐĐĞƌƚĂŝŶƚŚĞĂĐƚƵĂůůŽƐƐĞƐƐƵīĞƌĞĚďLJƚŚĞWůĂŝŶƟīƐǁŚŝĐŚǁŽƵůĚůĂƌŐĞůLJĚĞƉĞŶĚŽŶ
ƚŚĞĚŽĐƵŵĞŶƚƐĂǀĂŝůĂďůĞĂŶĚƚŚĞĞǀŝĚĞŶĐĞŐŝǀĞŶƚŽĞƐƚĂďůŝƐŚƐƵĐŚůŽƐƐĞƐ͘dŚĞĚĂŵĂŐĞƐƌĞĐŽǀĞƌĂďůĞďLJƚŚĞWůĂŝŶƟīƐǁŝůůĂůƐŽ
ďĞĚĞƉĞŶĚĞŶƚŽŶƚŚĞĂŵŽƵŶƚƌĞĐŽǀĞƌĞĚĨƌŽŵ^ĂƌĂǁĂŬ,ŝĚƌŽ^ĚŶŚĚĂŶĚͬŽƌƚŚĞDŝŶŝƐƚƌLJŽĨ&ŝŶĂŶĐĞŝŶƌĞůĂƟŽŶƚŽƚŚĞĂŬƵŶ
WƌŽũĞĐƚǁŝƚŚŝŶƚŚĞƟŵĞĨƌĂŵĞƐƟƉƵůĂƚĞĚ͘

Đ͘ ŵŝƌĂƚĞƐ/ŶƚĞƌŶĂƟŽŶĂůŶĞƌŐLJ^ĞƌǀŝĐĞƐ;D^Ϳ

 KŶϭϯ:ĂŶƵĂƌLJϮϬϭϭ͕D^ĮůĞĚĂĐŝǀŝůƐƵŝƚŝŶƚŚĞWůĞŶĂƌLJŽŵŵĞƌĐŝĂůŽƵƌƚŝŶďƵŚĂďŝĂŐĂŝŶƐƚ^ŝŵĞĂƌďLJŶŐŝŶĞĞƌŝŶŐ^ĚŶ
ŚĚ;^Ϳ;&ŝƌƐƚ^ƵŝƚͿĐůĂŝŵŝŶŐƉĂLJŵĞŶƚŽĨh^ϭϳϴŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϳϮϬŵŝůůŝŽŶͿĐŽŵƉƌŝƐŝŶŐ;ĂͿĂƉĂLJŵĞŶƚŽĨh^ϭϮϴ
ŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϱϭϳŵŝůůŝŽŶͿĨŽƌĐŽŵŵŝƐƐŝŽŶƐ͖ĂŶĚ;ďͿĂƉĂLJŵĞŶƚŽĨh^ϱϬŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϬϮŵŝůůŝŽŶͿĂƐ
͞ŵŽƌĂůĞĐŽŵƉĞŶƐĂƟŽŶ͕͟ǁŚŝĐŚǁĂƐĚŝƐŵŝƐƐĞĚďLJƚŚĞŽƵƌƚŽŶϮϮƵŐƵƐƚϮϬϭϭ͘

ŝ͘ WƌŽĐĞĞĚŝŶŐƐĂƚƚŚĞ:ƵĚŝĐŝĂůĞƉĂƌƚŵĞŶƚŽĨďƵŚĂďŝ;^ĞĐŽŶĚ^ƵŝƚͿ
 KŶϯϭDĂƌĐŚϮϬϭϮ͕D^ĮůĞĚĂƐĞĐŽŶĚƐƵŝƚĂŐĂŝŶƐƚ^ĂƚƚŚĞ:ƵĚŝĐŝĂůĞƉĂƌƚŵĞŶƚŽĨďƵŚĂďŝĨŽƌh^ϭϳϴŵŝůůŝŽŶ
ďĂƐĞĚŽŶƚŚĞƐĂŵĞĨĂĐƚƐĂŶĚŐƌŽƵŶĚƐĂƐƚŚĞ&ŝƌƐƚ^Ƶŝƚ͘

 KŶϭϴDĂLJϮϬϭϰ͕ƚŚĞŽƵƌƚŝƐƐƵĞĚũƵĚŐĞŵĞŶƚĨŽƌƚŚĞƐƵŵŽĨϰϭŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϰϱŵŝůůŝŽŶͿĂŐĂŝŶƐƚ^͘

 dŚĞũƵĚŐĞŵĞŶƚǁĂƐƐƵďƐĞƋƵĞŶƚůLJƌĞǀĞƌƐĞĚďLJƚŚĞŽƵƌƚŽĨƉƉĞĂůŽŶϮ:ƵůLJϮϬϭϰĂŶĚďLJƚŚĞ^ƵƉƌĞŵĞŽƵƌƚŽŶϮϱ
ĞĐĞŵďĞƌϮϬϭϰ͘LJǀŝƌƚƵĞŽĨƚŚĞ^ƵƉƌĞŵĞŽƵƌƚ͛ƐĚĞĐŝƐŝŽŶ͕D^ŚĂƐĞīĞĐƟǀĞůLJĞdžŚĂƵƐƚĞĚĂůůŝƚƐĂǀĞŶƵĞƐŝŶƚŚĞďƵ
ŚĂďŝĐŽƵƌƚƐŝŶƉƵƌƐƵŝŶŐŝƚƐĐůĂŝŵĂŐĂŝŶƐƚ^͘

ŝŝ͘ WƌŽĐĞĞĚŝŶŐƐĂƚƵďĂŝŚĂŵďĞƌŽĨŽŵŵĞƌĐĞĂŶĚ/ŶĚƵƐƚƌLJ;/Ϳ
 KŶϮϰ:ĂŶƵĂƌLJϮϬϭϲ͕D^ƐƵďŵŝƩĞĚĂZĞƋƵĞƐƚĨŽƌƌďŝƚƌĂƟŽŶĂŐĂŝŶƐƚ^ƚŽ/͕ĐůĂŝŵŝŶŐĂŶĂŵŽƵŶƚŽĨϰϭŵŝůůŝŽŶ
;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϰϱŵŝůůŝŽŶͿ͘dŚĞŚĞĂƌŝŶŐǁĂƐŚĞůĚĨƌŽŵϭϱƚŽϮϬ:ĂŶƵĂƌLJϮϬϭϴ͘dŚĞƚƌŝďƵŶĂůǁŚŝĐŚǁĂƐĞdžƉĞĐƚĞĚƚŽ
ŝƐƐƵĞŝƚƐĂǁĂƌĚŝŶ^ĞƉƚĞŵďĞƌϮϬϭϴŚĂƐďĞĞŶŐƌĂŶƚĞĚĂŶĞdžƚĞŶƐŝŽŶďLJ/ƟůůĞĐĞŵďĞƌϮϬϭϴƚŽĚĞůŝǀĞƌŝƚƐĂǁĂƌĚ͘

 ^͛ƐĐŽƵŶƐĞůŝƐŽƉƟŵŝƐƟĐŽĨ^͛ƐĐŚĂŶĐĞƐŽĨƐƵĐĐĞƐƐ͘

page 260 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϰ DdZ/>>/d/'d/KEΈKEd/EhΉ

dŚĞŵĂƚĞƌŝĂůůŝƟŐĂƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ě͘ YĂƚĂƌWĞƚƌŽůĞƵŵ;YWͿ^ƚĂƚĞŵĞŶƚŽĨůĂŝŵ

 KŶϭϱƵŐƵƐƚϮϬϭϮ͕^ĮůĞĚĂ^ƚĂƚĞŵĞŶƚŽĨůĂŝŵĂƚƚŚĞYĂƚĂƌŽƵƌƚĂŐĂŝŶƐƚYWĨŽƌƚŚĞƐƵŵŽĨYZϭďŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJ
ZDϭ͘ϭďŝůůŝŽŶͿƐĞĞŬŝŶŐƚŚĞƌĞƉĂLJŵĞŶƚŽĨĂůŝƋƵŝĚĂƚĞĚƉĞƌĨŽƌŵĂŶĐĞďŽŶĚ͕ƉĂLJŵĞŶƚŽĨŽƵƚƐƚĂŶĚŝŶŐŝŶǀŽŝĐĞƐ͕ĐŽŵƉĞŶƐĂƟŽŶĂŶĚ
ĂĚĚŝƟŽŶĂůĐŽƐƚƐŝŶĐƵƌƌĞĚŝŶƌĞůĂƟŽŶƚŽĂŶŽīƐŚŽƌĞĞŶŐŝŶĞĞƌŝŶŐƉƌŽũĞĐƚŝŶYĂƚĂƌƵŶĚĞƌƚĂŬĞŶďLJ^ƉƵƌƐƵĂŶƚƚŽĂĐŽŶƚƌĂĐƚĚĂƚĞĚ
Ϯϳ^ĞƉƚĞŵďĞƌϮϬϬϲ͘

 KŶϮϭ:ƵůLJϮϬϭϲ͕ƚŚĞŽƵƌƚŽƌĚĞƌĞĚYWƚŽƉĂLJYZϭϮ͘ϵŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϰŵŝůůŝŽŶͿƚŽ^;:ƵĚŐĞŵĞŶƚͿĂŶĚďŽƚŚ
ƉĂƌƟĞƐŚĂǀĞĂƉƉĞĂůĞĚƚŽƚŚĞŽƵƌƚŽĨƉƉĞĂůĂŐĂŝŶƐƚƚŚĞ:ƵĚŐĞŵĞŶƚ͘KŶϯϬKĐƚŽďĞƌϮϬϭϳ͕ƚŚĞŽƵƌƚƌĞĨĞƌƌĞĚƚŚĞŵĂƩĞƌƚŽ
ĐŽƵƌƚĞdžƉĞƌƚƐƚŽĞdžĂŵŝŶĞƚŚĞĂƉƉĞĂůĂŶĚĮdžĞĚϯ:ƵŶĞϮϬϭϴĨŽƌƚŚĞĞdžƉĞƌƚƐƚŽƐƵďŵŝƚƚŚĞŝƌƌĞƉŽƌƚ͘^ƵďƐĞƋƵĞŶƚůLJ͕ƚŚĞĐŽƵƌƚ
ŐƌĂŶƚĞĚĂŶĞdžƚĞŶƐŝŽŶƚŽƚŚĞĞdžƉĞƌƚƐƵŶƟůϯĞĐĞŵďĞƌϮϬϭϴĨŽƌƚŚĞŵƚŽƐƵďŵŝƚƚŚĞŝƌƌĞƉŽƌƚ͘

 ^͛ƐĐŽƵŶƐĞůŝƐŽĨƚŚĞǀŝĞǁƚŚĂƚƚŚĞƌĞŝƐĂůŝŬĞůŝŚŽŽĚƚŚĂƚƚŚĞŽƵƌƚŽĨƉƉĞĂůǁŝůůĂĚŽƉƚƚŚĞǀŝĞǁƐŽĨƚŚĞĞdžƉĞƌƚƐŝŶƚŚĞĞdžƉĞƌƚƐ͛
ƌĞƉŽƌƚ͘

Ğ͘ ϬϱtĞůůŚĞĂĚWůĂƞŽƌŵWƌŽũĞĐƚ;Ϭϱt,WWƌŽũĞĐƚͿ

 ^ĂŶĚ^ǁŝďĞƌKīƐŚŽƌĞŽŶƐƚƌƵĐƟŽŶWƚĞ>ƚĚ;^KͿĞŶƚĞƌĞĚŝŶƚŽĂŽŶƐŽƌƟƵŵŐƌĞĞŵĞŶƚƚŽŐŽǀĞƌŶƚŚĞŝƌƌĞůĂƟŽŶƐŚŝƉĂƐĂ
ĐŽŶƐŽƌƟƵŵ;ƚŚĞŽŶƐŽƌƟƵŵͿŝŶƌĞůĂƟŽŶƚŽƚŚĞĞdžĞĐƵƟŽŶĂŶĚƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞϬϱt,WWƌŽũĞĐƚĂǁĂƌĚĞĚďLJKŝůĂŶĚEĂƚƵƌĂů
'ĂƐŽƌƉŽƌĂƟŽŶ>ƚĚ;KE'ͿŽŶϮϲ&ĞďƌƵĂƌLJϮϬϭϬĨŽƌĂƚŽƚĂůĐŽŶƚƌĂĐƚƉƌŝĐĞŽĨh^ϭϴϵŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϳϲϰŵŝůůŝŽŶͿ͘

 ŝƐƉƵƚĞƐŚĂǀĞĂƌŝƐĞŶďĞƚǁĞĞŶƚŚĞŽŶƐŽƌƟƵŵĂŶĚKE'ĂŶĚƚŚĞƉĂƌƟĞƐŚĂǀĞƐƵďƐĞƋƵĞŶƚůLJƌĞĨĞƌƌĞĚƚŚĞĚŝƐƉƵƚĞƚŽĂŶKƵƚƐŝĚĞ
džƉĞƌƚŽŵŵŝƩĞĞ;KͿ͘^͛ƐƉŽƌƟŽŶŽĨƚŚĞŽŶƐŽƌƟƵŵ͛ƐĐůĂŝŵŝƐĐŝƌĐĂh^ϯϯŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϯϯŵŝůůŝŽŶͿ͘

 KŶϮĞĐĞŵďĞƌϮϬϭϰ͕ƚŚĞKƌĞĐŽŵŵĞŶĚĞĚƉĂLJŵĞŶƚŽĨh^ϭϮŵŝůůŝŽŶŝŶĨƵůůĂŶĚĮŶĂůƐĞƩůĞŵĞŶƚŝŶĨĂǀŽƵƌŽĨƚŚĞ
ŽŶƐŽƌƟƵŵ͕ŽĨǁŚŝĐŚh^ϳŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϴŵŝůůŝŽŶͿǁĂƐĂƉƉŽƌƟŽŶĞĚƚŽ^͘KŶϮϬDĂƌĐŚϮϬϭϱ͕ƚŚĞŽŶƐŽƌƟƵŵ
ƐŽƵŐŚƚĂŚŝŐŚĞƌĂŵŽƵŶƚŽĨĐŽŵƉĞŶƐĂƟŽŶǁŚŝĐŚǁĂƐƌĞũĞĐƚĞĚďLJKE'͘

 KŶϮϭĞĐĞŵďĞƌϮϬϭϱ͕ƚŚĞŽŶƐŽƌƟƵŵŝƐƐƵĞĚĂŶŽƟĐĞƚŽKE'ŽĨŝƚƐŝŶƚĞŶƟŽŶƚŽƉƌŽĐĞĞĚǁŝƚŚĂƌďŝƚƌĂƟŽŶ͘dŚĞƚƌŝďƵŶĂůĮdžĞĚ
ƉƌŽĐĞĞĚŝŶŐƐŽŶϭϳĞĐĞŵďĞƌϮϬϭϲǁŚŝĐŚǁĂƐƐƵďƐĞƋƵĞŶƚůLJĂĚũŽƵƌŶĞĚƉĞŶĚŝŶŐƐĞƩůĞŵĞŶƚŶĞŐŽƟĂƟŽŶƐďĞƚǁĞĞŶƚŚĞƉĂƌƟĞƐ͘

 KŶϮϵDĂƌĐŚϮϬϭϳ͕KE'ƐƵďŵŝƩĞĚĂƐĞƩůĞŵĞŶƚŽīĞƌƚŽƚŚĞŽŶƐŽƌƟƵŵĨŽƌƚŚĞƐƵŵŽĨh^ϭϬŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJ
ZDϰϬŵŝůůŝŽŶͿ͕ǁŚŝĐŚŝƐƚŽďĞĂƉƉŽƌƟŽŶĞĚďĞƚǁĞĞŶ^;h^ϳŵŝůůŝŽŶͿ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϴŵŝůůŝŽŶͿĂŶĚ^K;h^ϯŵŝůůŝŽŶͿ
;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϭϮŵŝůůŝŽŶͿ;ƚŚĞ^ĞƩůĞŵĞŶƚKīĞƌͿ͘dŚĞŽŶƐŽƌƟƵŵĐŽŶĮƌŵĞĚŝƚƐĂĐĐĞƉƚĂŶĐĞŽĨƚŚĞ^ĞƩůĞŵĞŶƚKīĞƌĂŶĚŽŶ
ϮϱDĂLJϮϬϭϳ͕ƚŚĞŽŶƐŽƌƟƵŵƌĞƋƵĞƐƚĞĚKE'ƚŽĞŶƚĞƌŝŶƚŽƐĞƉĂƌĂƚĞƐĞƩůĞŵĞŶƚĂŐƌĞĞŵĞŶƚƐǁŝƚŚ^ĂŶĚ^K͘

ANNUAL REPORT 2018 page 261

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϰ DdZ/>>/d/'d/KEΈKEd/EhΉ

dŚĞŵĂƚĞƌŝĂůůŝƟŐĂƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ğ͘ ϬϱtĞůůŚĞĂĚWůĂƞŽƌŵWƌŽũĞĐƚ;Ϭϱt,WWƌŽũĞĐƚͿ;ĐŽŶƟŶƵĞĚͿ

 ƐƚŚĞƌĞǁĂƐŶŽƌĞƐƉŽŶƐĞĨƌŽŵKE'ŽŶƚŚĞƐĞƩůĞŵĞŶƚƚĞƌŵƐ͕ŽŶϮϵDĂƌĐŚϮϬϭϴ͕ƚŚĞŽŶƐŽƌƟƵŵĮůĞĚŝƚƐĂƉƉůŝĐĂƟŽŶĨŽƌĂŶ
ŽƌĚĞƌďLJƚŚĞƚƌŝďƵŶĂůƚŽƌĞĐŽƌĚĂŶĂƌďŝƚƌĂůĂǁĂƌĚďĂƐĞĚŽŶƚŚĞ^ĞƩůĞŵĞŶƚKīĞƌďƵƚǁĂƐƌĞũĞĐƚĞĚďLJƚŚĞƚƌŝďƵŶĂů͘KE'ĮůĞĚŝƚƐ
ƐƚĂƚĞŵĞŶƚŽĨĚĞĨĞŶĐĞŽŶϴ:ƵŶĞϮϬϭϴ͘dŚĞƚƌŝďƵŶĂůŚĂƐĮdžĞĚϰ͕ϱ͕ϭϭĂŶĚϭϯKĐƚŽďĞƌϮϬϭϴĨŽƌĞdžĂŵŝŶĂƟŽŶŽĨǁŝƚŶĞƐƐĞƐĂŶĚ
ϮϮƚŽϮϰKĐƚŽďĞƌĂŶĚϭϵƚŽϮϭEŽǀĞŵďĞƌϮϬϭϴĨŽƌŚĞĂƌŝŶŐ͘

 KŶϮϭ^ĞƉƚĞŵďĞƌϮϬϭϴ͕KE'ĂŶĚ^ƐŝŐŶĞĚĂ^ĞƩůĞŵĞŶƚŐƌĞĞŵĞŶƚŝŶĨƵůůĂŶĚĮŶĂůƐĞƩůĞŵĞŶƚŽĨĂůůĐůĂŝŵƐĂŶĚĐŽƵŶƚĞƌ
ĐůĂŝŵƐďĞƚǁĞĞŶƚŚĞƉĂƌƟĞƐŝŶƌĞůĂƟŽŶƚŽƚŚĞͲϭϵϯϱtĞůůŚĞĂĚWůĂƞŽƌŵƉƌŽũĞĐƚ͘dŚĞĂŐƌĞĞŵĞŶƚƐŚĂůůďĞĐŽŵĞĞdžĞĐƵƚŽƌLJ
ĂŌĞƌƚŚĞĂƌďŝƚƌĂƟŽŶƚƌŝďƵŶĂůŚĂƐƌĞĐŽƌĚĞĚƚŚĞƐĞƩůĞŵĞŶƚĂŶĚŝƐƐƵĞĚŝƚƐĂǁĂƌĚďĂƐĞĚŽŶƚŚĞ^ĞƩůĞŵĞŶƚŐƌĞĞŵĞŶƚ͕ǁŚŝĐŚŝƐ
ĂŶƟĐŝƉĂƚĞĚƚŽŽĐĐƵƌĚƵƌŝŶŐƚŚĞŚĞĂƌŝŶŐĐŽŵŵĞŶĐŝŶŐϰKĐƚŽďĞƌϮϬϭϴ͘

Ĩ͘ ͲϭϵϯWƌŽĐĞƐƐWůĂƞŽƌŵWƌŽũĞĐƚ;WWWƌŽũĞĐƚͿ

 ^ĂŶĚ^KĞŶƚĞƌĞĚŝŶƚŽĂŽŶƐŽƌƟƵŵŐƌĞĞŵĞŶƚƚŽŐŽǀĞƌŶƚŚĞŝƌƌĞůĂƟŽŶƐŚŝƉĂƐĂĐŽŶƐŽƌƟƵŵ;ƚŚĞŽŶƐŽƌƟƵŵͿƚŽƵŶĚĞƌƚĂŬĞ
ǁŽƌŬƐƌĞůĂƟŶŐƚŽƚŚĞWWWƌŽũĞĐƚĂǁĂƌĚĞĚďLJKE'͘ĐŽŶƚƌĂĐƚĚĂƚĞĚϯ:ƵůLJϮϬϭϬ;ŽŶƚƌĂĐƚͿǁĂƐĞdžĞĐƵƚĞĚĨŽƌĂƚŽƚĂůĐŽŶƚƌĂĐƚ
ƉƌŝĐĞŽĨh^ϲϭϴŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮ͘ϱďŝůůŝŽŶͿ͘

 ŝƐƉƵƚĞƐŚĂǀĞĂƌŝƐĞŶďĞƚǁĞĞŶƚŚĞŽŶƐŽƌƟƵŵĂŶĚKE'ĂŶĚŽŶϭ:ƵŶĞϮϬϭϲ͕ƚŚĞŽŶƐŽƌƟƵŵŝŶŝƟĂƚĞĚĂƌďŝƚƌĂƟŽŶƉƌŽĐĞĞĚŝŶŐƐ
ĂŐĂŝŶƐƚKE'͘^͛ƐƉŽƌƟŽŶŽĨƚŚĞŽŶƐŽƌƟƵŵ͛ƐĐůĂŝŵŝƐĐŝƌĐĂh^ϳϲŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϯϬϳŵŝůůŝŽŶͿ͘

 dŚĞŚĞĂƌŝŶŐŚĂƐďĞĞŶĐŽŶĐůƵĚĞĚĂŶĚŽƌĂůĐůŽƐŝŶŐƐƵďŵŝƐƐŝŽŶƐǁĞƌĞŚĞůĚŽŶϮ:ĂŶƵĂƌLJϮϬϭϴƚŽϱ:ĂŶƵĂƌLJϮϬϭϴ͘KŶϮϮDĂƌĐŚ
ϮϬϭϴ͕ƚŚĞƚƌŝďƵŶĂůŽƌĚĞƌĞĚKE'ƚŽƉĂLJƚŚĞŽŶƐŽƌƟƵŵĂŶĞƚƐƵŵŽĨh^ϱ͘ϭϮŵŝůůŝŽŶ;ĂƉƉƌŽdžŝŵĂƚĞůLJZDϮϭŵŝůůŝŽŶͿĂƐĨƵůůĂŶĚ
ĮŶĂůƐĞƩůĞŵĞŶƚŽĨĂůůĐůĂŝŵƐ͘KŶϮϳDĂƌĐŚϮϬϭϴ͕KE'ĮůĞĚĂŶĂƉƉůŝĐĂƟŽŶĂƚƚŚĞ,ŝŐŚŽƵƌƚŝŶDƵŵďĂŝ͕/ŶĚŝĂƚŽƐĞƚĂƐŝĚĞƚŚĞ
ĂƌďŝƚƌĂƟŽŶĂǁĂƌĚ͘dŚĞ,ŝŐŚŽƵƌƚĮdžĞĚƉƌŽǀŝƐŝŽŶĂůŚĞĂƌŝŶŐĚĂƚĞŽŶϰ:ƵŶĞϮϬϭϴďƵƚǁĂƐƐƵďƐĞƋƵĞŶƚůLJĚĞĨĞƌƌĞĚ͘dŚĞ,ŝŐŚŽƵƌƚ
ŚĂƐLJĞƚƚŽĮdžĂŶĞǁŚĞĂƌŝŶŐĚĂƚĞ͘

 dŚĞŽŶƐŽƌƟƵŵ͛ƐŽƵŶƐĞůŝƐƵŶĂďůĞƚŽƉƌĞĚŝĐƚĂƚƚŚŝƐũƵŶĐƚƵƌĞƚŚĞĐŚĂŶĐĞƐŽĨƐƵĐĐĞƐƐŽĨKE'͛ƐĂƉƉůŝĐĂƟŽŶƚŽƐĞƚĂƐŝĚĞƚŚĞ
ĂƌďŝƚƌĂƟŽŶĂǁĂƌĚ͘

page 262 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϰ DdZ/>>/d/'d/KEΈKEd/EhΉ

dŚĞŵĂƚĞƌŝĂůůŝƟŐĂƟŽŶƐŽƵƚƐƚĂŶĚŝŶŐĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

Ő͘ DĂůĂLJƐŝĂDĂƌŝŶĞĂŶĚ,ĞĂǀLJŶŐŝŶĞĞƌŝŶŐ;DD,ͿEŽƟĐĞŽĨƌďŝƚƌĂƟŽŶ

 DD,ĂŶĚ^ĞŶƚĞƌĞĚŝŶƚŽĂ^ĂůĞĂŶĚWƵƌĐŚĂƐĞŐƌĞĞŵĞŶƚĚĂƚĞĚϮϱƵŐƵƐƚϮϬϭϭ;^WͿĨŽƌƚŚĞĚŝƐƉŽƐĂůŽĨ^͛ƐŽŝůĂŶĚŐĂƐ
ďƵƐŝŶĞƐƐƚŽDD,ĨŽƌĂĐŽŶƐŝĚĞƌĂƟŽŶŽĨZDϯϵϰŵŝůůŝŽŶĂŶĚĂ^ƵƉƉůĞŵĞŶƚĂůŐƌĞĞŵĞŶƚĚĂƚĞĚϯϬDĂƌĐŚϮϬϭϮ;^^WͿƚŽǀĂƌLJ
ĐĞƌƚĂŝŶƚĞƌŵƐĂŶĚĐŽŶĚŝƟŽŶƐŽĨƚŚĞ^W͘

 dŚĞ^^WƉƌŽǀŝĚĞƐ͕ŝŶƚĞƌĂůŝĂ͕ƚŚĂƚƚŚĞĨĂďƌŝĐĂƟŽŶŽĨ<dŽƉƐŝĚĞƐŽŶƚƌĂĐƚEŽ͘<WKͬKͬϮϬϬϵͬϬϭϱĨŽƌƚŚĞ<ĞďĂďĂŶŐĂŶ
EŽƌƚŚĞƌŶ,ƵďĞǀĞůŽƉŵĞŶƚ;<WKWƌŽũĞĐƚͿďĞƚǁĞĞŶ<ĞďĂďĂŶŐĂŶWĞƚƌŽůĞƵŵKƉĞƌĂƟŶŐŽŵƉĂŶLJ^ĚŶŚĚĂŶĚ^ĚĂƚĞĚ
ϮϬ^ĞƉƚĞŵďĞƌϮϬϭϭƐŚĂůůďĞŶŽǀĂƚĞĚďLJ^ƚŽDD,ǁŝƚŚĞīĞĐƚĨƌŽŵϯϭDĂƌĐŚϮϬϭϮĨŽƌĂĐŽŶƐŝĚĞƌĂƟŽŶŽĨZDϮϬŵŝůůŝŽŶ͘

 KŶϭϲDĂƌĐŚϮϬϭϱ͕DD,ƌĞĨĞƌƌĞĚƚŚĞĚŝƐƉƵƚĞƐƌĞůĂƟŶŐƚŽƚŚĞ<WKWƌŽũĞĐƚƚŽĂƌďŝƚƌĂƟŽŶďĞĨŽƌĞƚŚĞZĞŐŝŽŶĂůĞŶƚƌĞĨŽƌ
ƌďŝƚƌĂƟŽŶ<ƵĂůĂ>ƵŵƉƵƌ;ŶŽǁŬŶŽǁŶĂƐƚŚĞƐŝĂŶ/ŶƚĞƌŶĂƟŽŶĂůƌďŝƚƌĂƟŽŶĞŶƚƌĞͿ͘dŚĞŝŶŝƟĂůĐůĂŝŵĨƌŽŵDD,ǁĂƐZDϱϳ
ŵŝůůŝŽŶďƵƚǁĂƐƐƵďƐĞƋƵĞŶƚůLJƌĞǀŝƐĞĚƚŽZDϯϰŵŝůůŝŽŶŽŶϭEŽǀĞŵďĞƌϮϬϭϲ͘

 dŚĞŚĞĂƌŝŶŐǁĂƐĐŽŶĐůƵĚĞĚŽŶϮϰDĂƌĐŚϮϬϭϳĂŶĚŽƌĂůƐƵďŵŝƐƐŝŽŶƐǁĞƌĞŚĞůĚŽŶϰƵŐƵƐƚϮϬϭϳ͘

 dŚĞƚƌŝďƵŶĂůŝƐƐƵĞĚŝƚƐĂǁĂƌĚŽŶϭϯDĂƌĐŚϮϬϭϴŽƌĚĞƌŝŶŐ^ƚŽƉĂLJDD,ĚĂŵĂŐĞƐŽĨZDϭϳ͘ϯŵŝůůŝŽŶĨŽƌĐůĂŝŵƐŝŶƌĞůĂƟŽŶƚŽ
ƚŚĞĚŝƐƉƵƚĞĂƌŝƐŝŶŐĨƌŽŵƚŚĞ^WĂŶĚƚŚĞ^^WĂƐǁĞůůĂƐŝŶƚĞƌĞƐƚĂŶĚĂƌďŝƚƌĂƟŽŶĐŽƐƚƐ͘dŚŝƐĂŵŽƵŶƚŚĂƐďĞĞŶĨƵůůLJƉƌŽǀŝĚĞĚĨŽƌ͘

 ŌĞƌƐĞƌŝĞƐŽĨĚŝƐĐƵƐƐŝŽŶ͕ƚŚĞƉĂƌƟĞƐĂŐƌĞĞĚƚŽƐĞƩůĞƚŚĞŵĂƩĞƌĂƚZDϭϲ͘ϱŵŝůůŝŽŶ;ǁŝƚŚŶŽŝŶƚĞƌĞƐƚĂŶĚĐŽƐƚƐͿĂƐĨƵůůĂŶĚĮŶĂů
ƐĞƩůĞŵĞŶƚ͘^ĞƩůĞŵĞŶƚŐƌĞĞŵĞŶƚǁĂƐƐŝŐŶĞĚŽŶϭ:ƵŶĞϮϬϭϴĂŶĚ^ƌĞŵŝƩĞĚƉĂLJŵĞŶƚƚŽDD,ŽŶϲ:ƵŶĞϮϬϭϴ͘

55 HOLDING COMPANIES

 dŚĞŝƌĞĐƚŽƌƐƌĞŐĂƌĚWĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚĂƐƚŚĞ'ƌŽƵƉ͛ƐŝŵŵĞĚŝĂƚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJĂŶĚzĂLJĂƐĂŶWĞůĂďƵƌĂŶƵŵŝƉƵƚƌĂĂƐ
ƚŚĞƵůƟŵĂƚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJ͘ŽƚŚĐŽŵƉĂŶŝĞƐĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚŝŶDĂůĂLJƐŝĂ͘

ANNUAL REPORT 2018 page 263

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

56 LIST OF SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ
ŚƵďďDĂůĂLJƐŝĂ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ DĂƌŬĞƟŶŐ͕ŝŶƐƚĂůůĂƟŽŶ͕
 ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ  ƌĞŶƚĂůĂŶĚƐĞƌǀŝĐŝŶŐ
ŽĨƐĞĐƵƌŝƚLJƉƌŽĚƵĐƚƐ
DĞĐŽŵďDĂůĂLJƐŝĂ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ DĂƌŬĞƟŶŐĂŶĚŝŶƐƚĂůůĂƟŽŶ
 ^ĚŶĞƌŚĂĚ ŽĨĂĚǀĂŶĐĞĚĞůĞĐƚƌŽŶŝĐ
ĂŶĚĞůĞĐƚƌŽͲŵĞĐŚĂŶŝĐĂů
ĞƋƵŝƉŵĞŶƚ͕ŝŶƐƚƌƵŵĞŶƚƐ
ĂŶĚƐLJƐƚĞŵƐŝŶƚĞŐƌĂƟŽŶ
^ŚĂŶĚŽŶŐƋƵŝƉŵĞŶƚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĂůĞƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ
 DĂůĂLJƐŝĂ^ĚŶŚĚ ĨŽƌ^ŚĂŶĚŽŶŐŶŐŝŶĞĞƌŝŶŐ
ŵĂĐŚŝŶĞƌLJ
^ŝŵĞĂƌďLJůĞĐƚƌŽƉĂĐŬ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ DĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚ
^ĚŶŚĚ ĂƐƐĞŵďůLJŽĨŐĞŶĞƌĂƚŽƌƐ͕
ĂŐƌŝĐƵůƚƵƌĂůĂŶĚŝŶĚƵƐƚƌŝĂů
ŵĂĐŚŝŶĞƌLJ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ dƌĂŝŶŝŶŐƐĞƌǀŝĐĞƐ
ĐĂĚĞŵLJ^ĚŶŚĚ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
,ŽůĚŝŶŐƐ^ĚŶŚĚ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů DĂůĂLJƐŝĂ 91.2 ϵϭ͘Ϯ ϭ ^ĂůĞŽĨŐĞŶĞƌĂƚŽƌƐ͕
WŽǁĞƌ^ĚŶŚĚ ĂŐƌŝĐƵůƚƵƌĂůĂŶĚŝŶĚƵƐƚƌŝĂů
ŵĂĐŚŝŶĞƌLJ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂůWŽǁĞƌ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ƐƐĞŵďůLJĂŶĚƉĂĐŬĂŐŝŶŐ
^LJƐƚĞŵƐ^ĚŶŚĚ ŽĨŐĞŶĞƌĂƚŽƌƐ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĂůĞ͕ƌĞŶƚĂůĂŶĚĂƐƐĞŵďůLJ
^ĚŶŚĚ ŽĨĂƚĞƌƉŝůůĂƌĞƋƵŝƉŵĞŶƚ
ĂŶĚƐƉĂƌĞƉĂƌƚƐĂŶĚ
service support

page 264 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJ:ŽLJ DĂůĂLJƐŝĂ 55.0 ϱϱ͘Ϭ ϭ ĞƐŝŐŶŝŶŐĂŶĚ
/ŶĚƵƐƚƌŝĞƐ^ĚŶŚĚ ŵĂŶƵĨĂĐƚƵƌŝŶŐŽĨŚĞĂƚ
ĞdžĐŚĂŶŐĞƌƐ͕ƌĂĚŝĂƚŽƌƐ͕
ƉƌŽĐĞƐƐĞƋƵŝƉŵĞŶƚ
ŵŽĚƵůĞƐ͕ĮůƚĞƌƐĂŶĚ
separators
^ŝŵĞĂƌďLJKīƐŚŽƌĞ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^LJƐƚĞŵƐŝŶƚĞŐƌĂƟŽŶĂŶĚ
ŶŐŝŶĞĞƌŝŶŐ^ĚŶŚĚ ŵĂƌŬĞƟŶŐŽĨƉƌŽĚƵĐƚƐ
ĂŶĚƐĞƌǀŝĐĞƉƌŽǀŝĚĞƌ
ƉƌŝŵĂƌŝůLJĨŽƌŽŝůΘŐĂƐͬ
ƉĞƚƌŽĐŚĞŵŝĐĂůŝŶĚƵƐƚƌLJ
ĂŶĚďŝŽŐĂƐǀĂůƵĞĐŚĂŝŶ
^ŝŵĞĂƌďLJdDZ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ZĞĐŽŶĚŝƟŽŶŝŶŐŽĨƵƐĞĚ
ĞƋƵŝƉŵĞŶƚĂŶĚŵĂĐŚŝŶĞƌLJ
^ŝŵĞ<ƵďŽƚĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 90.0 ϵϬ͘Ϭ ϭ ƐƐĞŵďůLJĂŶĚĚŝƐƚƌŝďƵƟŽŶ
ŽĨ<ƵďŽƚĂĂŐƌŝĐƵůƚƵƌĂů
ŵĂĐŚŝŶĞƌLJĂŶĚŽƚŚĞƌ
ŵĂĐŚŝŶĞƌLJĂŶĚĞƋƵŝƉŵĞŶƚ
^ŝŵĞ^ƵƌǀĞŝůůĂŶĐĞ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĞĐƵƌŝƚLJƐĞƌǀŝĐĞƐ
^ŝƚĞdĞĐŚŶŽůŽŐLJƐŝĂWĂĐŝĮĐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ƵƉƉůLJŝŶŐ'ůŽďĂůWŽƐŝƟŽŶŝŶŐ
^LJƐƚĞŵ;'W^ͿͬĚŝŐŝƚĂůǁŽƌŬ
ƐŝƚĞƉŽƐŝƟŽŶŝŶŐĂŶĚ
ŵĂĐŚŝŶĞĐŽŶƚƌŽůĨŽƌŚĞĂǀLJ
ĂŶĚŚŝŐŚǁĂLJĐŽŶƐƚƌƵĐƟŽŶ
ĂƉƉůŝĐĂƟŽŶƐƵŶĚĞƌƚŚĞ
^/d,ďƌĂŶĚ
dƌĂĐƚŽƌƐDĂƚĞƌŝĂů,ĂŶĚůŝŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĂůĞŽĨůŝŌƚƌƵĐŬƐĂŶĚƐƉĂƌĞ
ƉĂƌƚƐ͕ĂŶĚƚŚĞƌĞŶƚĂůĂŶĚ
ƐĞƌǀŝĐŝŶŐŽĨŽƚŚĞƌŵĂƚĞƌŝĂů
ŚĂŶĚůŝŶŐĞƋƵŝƉŵĞŶƚ
dƌĂĐƚŽƌƐWĞƚƌŽůĞƵŵ^ĞƌǀŝĐĞƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ƵƉƉůLJ͕ƌĞƉĂŝƌĂŶĚ
ŵĂŝŶƚĞŶĂŶĐĞŽĨ
ĂƚĞƌƉŝůůĂƌĞŶŐŝŶĞƐĂŶĚ
ŽƚŚĞƌĞƋƵŝƉŵĞŶƚĨŽƌ
ƚŚĞŽŝůĂŶĚŐĂƐŝŶĚƵƐƚƌLJ͕
ƌĞĨƵƌďŝƐŚŵĞŶƚŽĨŐĂƐ
ƚƵƌďŝŶĞƐĂŶĚƚŚĞƐĂůĞĂŶĚ
ŝŶƐƚĂůůĂƟŽŶŽĨƉƌĞƐƐƵƌĞ
vessels

ANNUAL REPORT 2018 page 265

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
DĞĐŽŵď^ŝŶŐĂƉŽƌĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ DĂŶƵĨĂĐƚƵƌĞĂŶĚ
ŝŶƐƚĂůůĂƟŽŶŽĨŝŶĚƵƐƚƌŝĂů
ĞƋƵŝƉŵĞŶƚĂŶĚƚŚĞ
ŝŵƉŽƌƚĂŶĚƐĂůĞŽĨ
ƚĞĐŚŶŝĐĂů͕ŶĂƵƟĐĂůĂŶĚ
ƐĐŝĞŶƟĮĐŝŶƐƚƌƵŵĞŶƚƐĂŶĚ
ŵĞĐŚĂŶŝĐĂů͕ĞůĞĐƚƌŝĐĂůĂŶĚ
ĞůĞĐƚƌŽŶŝĐĞƋƵŝƉŵĞŶƚ
^ŝŵĞĂƌďLJĂƐƚĞƌŶ/ŶǀĞƐƚŵĞŶƚƐ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
WƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϳ
^ŝŵĞĂƌďLJĂƐƚĞƌŶ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJŶĞƌŐLJWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ
Ϳ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů^ŝŶŐĂƉŽƌĞ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ
Ϳ
WƚĞ>ƚĚ
Ϳ
dƌĂĐƚŽƌƐ^ŝŶŐĂƉŽƌĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞ͕ƌĞŶƚĂůĂŶĚĂƐƐĞŵďůLJ
ŽĨĂƚĞƌƉŝůůĂƌĞƋƵŝƉŵĞŶƚ
ĂŶĚƐƉĂƌĞƉĂƌƚƐĂŶĚ
service support
dƌĂĐƚŽƌƐ^ŝŶŐĂƉŽƌĞ;DĂůĚŝǀĞƐͿ DĂůĚŝǀĞƐ 100.0 – Ϯ ^ĂůĞĂŶĚƌĞŶƚĂůŽĨĞŶŐŝŶĞƐ͕
WƌŝǀĂƚĞ>ŝŵŝƚĞĚ ƉŽǁĞƌƐLJƐƚĞŵƐ͕ĂƐƐĞŵďůLJ
ĂŶĚƉƌŽĚƵĐƚƐƵƉƉŽƌƚĨŽƌ
ŝŶĚƵƐƚƌŝĂůŵĂĐŚŝŶĞƌLJĂŶĚ
parts
&ŽƐŚĂŶ^ŝŵĞĂƌďLJůĐŽWŽǁĞƌ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ tŚŽůĞƐĂůĞŽĨĚŝĞƐĞů
ƋƵŝƉŵĞŶƚ>ƚĚ ŐĞŶĞƌĂƚŽƌƐĂŶĚ
spare parts
'ƵĂŶŐnjŚŽƵ^ŝŵĞĂƌďLJ^/d, ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ ϯ ^ĂůĞ͕ŚŝƌĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨ
ĞĂůĞƌƐŽ>ƚĚ ƐƵƌǀĞLJĞƋƵŝƉŵĞŶƚ

page 266 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;'ƵĂŶŐĚŽŶŐͿŽ>ƚĚ Ϳ
^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;'ƵĂŶŐdžŝͿŽ>ƚĚ Ϳ
^ĂůĞŽĨĂƚĞƌƉŝůůĂƌ
^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ĞƋƵŝƉŵĞŶƚĂŶĚƐƉĂƌĞ
;,ƵŶĂŶͿŽ>ƚĚ Ϳ
ƉĂƌƚƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ
^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;:ŝĂŶŐdžŝͿŽ>ƚĚ Ϳ
^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;yŝŶũŝĂŶŐͿŽ>ƚĚ Ϳ
^ŝŵĞĂƌďLJ:ŽLJ ŚŝŶĂ 55.0 ϱϱ͘Ϭ Ϯ ^ƵƉƉůLJŽĨƉƌŽĐĞƐƐ
;^ŚĂŶŐŚĂŝͿŽ>ƚĚ ĞƋƵŝƉŵĞŶƚĂŶĚŚĞĂƚ
ĞdžĐŚĂŶŐĞƌƐ
yŝĂŵĞŶ^ŝŵĞĂƌďLJ>DĂĐŚŝŶĞƌLJ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞŽĨĂƚĞƌƉŝůůĂƌ
Ž>ƚĚ ĞƋƵŝƉŵĞŶƚĂŶĚƐƉĂƌĞ
ƉĂƌƚƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ
^ŝŵĞĂƌďLJ>;^ŽƵƚŚŚŝŶĂͿ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJůĐŽWŽǁĞƌ^LJƐƚĞŵƐ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶŽĨWĞƌŬŝŶƐ
>ŝŵŝƚĞĚ ĞŶŐŝŶĞƉƌŽĚƵĐƚƐĂŶĚ
ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲ
sales services
dŚĞŚŝŶĂŶŐŝŶĞĞƌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞŽĨĂŶĚĂŌĞƌͲƐĂůĞƐ
ƐƵƉƉŽƌƚĨŽƌĂƚĞƌƉŝůůĂƌ
ĞƋƵŝƉŵĞŶƚ
,ĂLJŶĞƐ/ŶǀĞƐƚŵĞŶƚƐWƚLJ>ƚĚ Australia 100.0 ϭϬϬ͘Ϭ Ϯ ƌĂŶĞŚŝƌĞ
ƵƐƚĐŚƌŽŵĞWƚLJ>ƚĚ Australia 100.0 ϭϬϬ͘Ϭ Ϯ ŚƌŽŵŝŶŐĂŶĚŚLJĚƌĂƵůŝĐ
repairs
'EŽŵŝŶĞĞƐWƚLJ>ƚĚ Australia 100.0 ϭϬϬ͘Ϭ ϰ ƵƚŽŐůĂƐƐƐƵƉƉůŝĞƌͬŝŶƐƚĂůůĞƌ
,ĂƐƟŶŐƐĞĞƌŝŶŐ;ƵƐƚƌĂůŝĂͿ>ŝŵŝƚĞĚ Australia 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞ͕ƌĞŶƚĂůĂŶĚƐĞƌǀŝĐŝŶŐ
ĨŽƌĂƚĞƌƉŝůůĂƌƉƌŽĚƵĐƚƐ͕
ŚĂƌĚĐŚƌŽŵŝŶŐĂŶĚ
ŚLJĚƌĂƵůŝĐƌĞƉĂŝƌ

ANNUAL REPORT 2018 page 267

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
,ĂƐƟŶŐƐĞĞƌŝŶŐWƌŽƉĞƌƚLJ^ĞƌǀŝĐĞƐ Australia 100.0 ϭϬϬ͘Ϭ ϰ >ĞĂƐŝŶŐĞŶƟƚLJĂŶĚĞīĞĐƟǀĞ
WƚLJ>ƚĚ ůĞƐƐĞĞĨŽƌ,ĂƐƟŶŐƐ
ĞĞƌŝŶŐ
,ĂLJŶĞƐDĞĐŚĂŶŝĐĂůWƚLJ>ƚĚ Australia 100.0 ϭϬϬ͘Ϭ Ϯ >ĂďŽƵƌŚŝƌĞͬĐŽŶƚƌĂĐƟŶŐ͕
ƐĂůĞŽĨŵŝŶŝŶŐŵĂĐŚŝŶĞƌLJ
ƉĂƌƚƐ͕ƐĞƌǀŝĐĞĂŶĚƌĞƉĂŝƌ
ĂŶĚĐƌĂŶĞŚŝƌĞ
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^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů Australia 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
ƵƐƚƌĂůŝĂWƚLJ>ƚĚ Ϳ
d&WŶŐŝŶĞĞƌŝŶŐWƚLJ>ƚĚ Australia 95.0 ϵϱ͘Ϭ Ϯ ^ĂůĞŽĨŵŝŶŝŶŐŵĂĐŚŝŶĞƌLJ͕
ƐĞƌǀŝĐĞĂŶĚůĂďŽƵƌŚŝƌĞ
^ŝŵĞĂƌďLJ/ŶĚƵƐƚƌŝĂů;Ϳ ƌƵŶĞŝ 70.0 ϳϬ͘Ϭ ϯ ƐƐĞŵďůLJ͕ŵĂƌŬĞƟŶŐĂŶĚ
^ĚŶŚĚ ĚŝƐƚƌŝďƵƟŽŶŽĨĂŐƌŝĐƵůƚƵƌĂů
ĂŶĚŝŶĚƵƐƚƌŝĂůĞƋƵŝƉŵĞŶƚ
/>ŝŵŝƚĞĚ ŚĂŶŶĞů 100.0 ϭϬϬ͘Ϭ ϯ ^ƵƉƉůLJŽĨŝŶĚƵƐƚƌŝĂů
/ƐůĂŶĚƐ ĞƋƵŝƉŵĞŶƚĂŶĚ
ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ
ĂůƚƌĂĐ^^ EĞǁĂůĞĚŽŶŝĂ 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞŽĨĂƚĞƌƉŝůůĂƌ
ĞƋƵŝƉŵĞŶƚĂŶĚƐƉĂƌĞ
ƉĂƌƚƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ
^/^ŝŵĞĂƌďLJ/ŶǀĞƐƚE EĞǁĂůĞĚŽŶŝĂ 100.0 ϭϬϬ͘Ϭ ϰ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
,ĂƐƟŶŐƐĞĞƌŝŶŐ;WE'Ϳ WĂƉƵĂEĞǁ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
^ĂůĞŽĨĂƚĞƌƉŝůůĂƌ
>ŝŵŝƚĞĚ 'ƵŝŶĞĂ Ϳ
ĞƋƵŝƉŵĞŶƚĂŶĚƐƉĂƌĞ
,ĂƐƟŶŐƐĞĞƌŝŶŐ ^ŽůŽŵŽŶ 100.0 ϭϬϬ͘Ϭ ϯ Ϳ
ƉĂƌƚƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ
;^ŽůŽŵŽŶ/ƐůĂŶĚƐͿ>ŝŵŝƚĞĚ /ƐůĂŶĚƐ Ϳ
^ŝŵĞĂƌďLJůĐŽWŽǁĞƌ ^ŽƵƚŚ<ŽƌĞĂ 100.0 ϭϬϬ͘Ϭ ϰ ^ĂůĞƐ͕ĂƐƐĞŵďůLJ͕ŝŵƉŽƌƚ
<ŽƌĞĂ>ŝŵŝƚĞĚ ĂŶĚĞdžƉŽƌƚ͕ůĞĂƐĞĂŶĚ
ŵĂŝŶƚĞŶĂŶĐĞŽĨ͕ĂŶĚ
ƉƌŽǀŝƐŝŽŶŽĨƚĞĐŚŶŽůŽŐLJ
ƐĞƌǀŝĐĞƐĨŽƌĞŶŐŝŶĞƐĂŶĚ
ƉŽǁĞƌƐLJƐƚĞŵƐ

page 268 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
DĞĐŽŵď;dŚĂŝůĂŶĚͿ>ŝŵŝƚĞĚ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ^ĂůĞŽĨĞůĞĐƚƌŝĐĂůĂŶĚ
ŵĞĐŚĂŶŝĐĂůĞƋƵŝƉŵĞŶƚ
ĐŽŵƉŽŶĞŶƚƐĂŶĚ
ŝŶƐƚƌƵŵĞŶƚƐ
,ĂLJŶĞƐ'ƌŽƵƉ;h^Ϳ,ŽůĚŝŶŐƐ/ŶĐ͘ hŶŝƚĞĚ^ƚĂƚĞƐ 100.0 ϭϬϬ͘Ϭ ϰ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐWĂŬŬĂ:ĂĐŬ ŽĨŵĞƌŝĐĂ
/ŶƚĞƌŶĂƟŽŶĂů,ŽůĚŝŶŐƐ/ŶĐͿ
,ĂLJŶĞƐ'ƌŽƵƉ;h^Ϳ,ŽůĚŝŶŐƐ>>͘ hŶŝƚĞĚ^ƚĂƚĞƐ 100.0 ϭϬϬ͘Ϭ ϰ ^ĂůĞŽĨƉĂƚĞŶƚĞĚŚLJĚƌĂƵůŝĐ
;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐWĂŬŬĂ:ĂĐŬ ŽĨŵĞƌŝĐĂ ũĂĐŬŝŶŐƐLJƐƚĞŵĂŶĚ
/ŶƚĞƌŶĂƟŽŶĂů,ŽůĚŝŶŐƐ>>Ϳ ŵĂŝŶƚĞŶĂŶĐĞŽĨƐůĞǁ
ďĞĂƌŝŶŐƐŝŶĞůĞĐƚƌŝĐƌŽƉĞ
ĂŶĚŚLJĚƌĂƵůŝĐŵŝŶŝŶŐ
shovels
/sŝĞƚŶĂŵŽŵƉĂŶLJ>ŝŵŝƚĞĚ sŝĞƚŶĂŵ 100.0 ϭϬϬ͘Ϭ Ϯ ŽŶƐƵůƚĂŶĐLJĂŶĚƐĞƌǀŝĐĞƐ
ĨŽƌŝŶƐƚĂůůĂƟŽŶ͕ŽƉĞƌĂƟŽŶ͕
ƌĞƉĂŝƌĂŶĚŵĂŝŶƚĞŶĂŶĐĞ
ŽĨŝŶĚƵƐƚƌŝĂůŵĂĐŚŝŶĞƐ

/ŶĚƵƐƚƌŝĂůʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
^ŝŵĞĂƌďLJ'ĂƐDĂůĂLJƐŝĂŝŽE' DĂůĂLJƐŝĂ 51.0+ ϱϭ͘Ϭ+ ϭ ^ĂůĞĂŶĚƐƵƉƉůLJŽĨ
^ĚŶŚĚ ďŝŽͲĐŽŵƉƌĞƐƐĞĚ
ŶĂƚƵƌĂůŐĂƐ
dĞƌďĞƌŐdƌĂĐƚŽƌƐDĂůĂLJƐŝĂ DĂůĂLJƐŝĂ 50.0 ϱϬ͘Ϭ ϭ DĂƌŬĞƟŶŐ͕ĚŝƐƚƌŝďƵƟŶŐ
^ĚŶŚĚŐƌŽƵƉ ĂŶĚƐĞƌǀŝĐŝŶŐŽĨdĞƌďĞƌŐ
ƚĞƌŵŝŶĂůƚƌĂĐƚŽƌƐ
DŝŶĞŶĞƌŐLJ^ŽůƵƟŽŶƐWƚLJ>ƚĚ Australia 50.0 ϱϬ͘Ϭ ϰ ^ĞƌǀŝĐĞƉƌŽǀŝĚĞƌĨŽƌĞŶĚͲƚŽͲ
ĞŶĚĞŶĞƌŐLJƐŽůƵƟŽŶƚŽ
ƚŚĞŵŽďŝůĞŵŝŶŝŶŐ
ŝŶĚƵƐƚƌLJ
tŝůƉĞŶĂWƚLJ>ƚĚ Australia 50.0 ϱϬ͘Ϭ ϰ ^ĂůĞŽĨĂƚĞƌƉŝůůĂƌ
ĞƋƵŝƉŵĞŶƚĂŶĚƐƉĂƌĞ
ƉĂƌƚƐĂŶĚƐĞƌǀŝĐĞƐƵƉƉŽƌƚ

ANNUAL REPORT 2018 page 269

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
/ŶĚƵƐƚƌŝĂůʹƐƐŽĐŝĂƚĞƐ
WĂĐŶĞƌŐLJZĞŶƚĂůWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ 30.0 ϯϬ͘Ϭ ϯ ZĞŶƚĂůŽĨŐĞŶĞƌĂƚŽƌƐĞƚƐ
ŚƵďď^ŝŶŐĂƉŽƌĞWƌŝǀĂƚĞ>ŝŵŝƚĞĚŐƌŽƵƉ ^ŝŶŐĂƉŽƌĞ 30.0 ϯϬ͘Ϭ Ϯ DĂƌŬĞƟŶŐŽĨƐĞĐƵƌŝƚLJĂŶĚ
ĮƌĞƉƌŽƚĞĐƟŽŶƉƌŽĚƵĐƚƐ
ĂŶĚƐĞƌǀŝĐĞƐ
&'tŝůƐŽŶƐŝĂWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ 50.0 ϱϬ͘Ϭ Ϯ ^ĂůĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨĚŝĞƐĞů
ŐĞŶĞƌĂƚŽƌƐĞƚƐ
ŶĞƌŐLJWŽǁĞƌ^LJƐƚĞŵƐƵƐƚƌĂůŝĂ Australia 20.0 ϮϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞŶƚĂůŽĨ
WƚLJ>ƚĚ ĂƚĞƌƉŝůůĂƌĞŶŐŝŶĞĂŶĚ
ĂƐƐŽĐŝĂƚĞĚƉƌŽĚƵĐƚƐ
EŽǀĂWŽǁĞƌWƚLJ>ƚĚ Australia – ϯϴ͘ϵ Ϯ ^ĂůĞŽĨůŽǁĞŵŝƐƐŝŽŶƉŽǁĞƌ
ƚŽƐƵƉƉŽƌƚĞůĞĐƚƌŝĐŝƚLJ
ĚŝƐƚƌŝďƵƟŽŶ
^ŝƚĞĐŚŽŶƐƚƌƵĐƟŽŶ^LJƐƚĞŵƐ Australia 30.6 ϯϬ͘ϲ ϯ ^ĂůĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨdƌŝŵďůĞ
WƚLJ>ƚĚ dĞĐŚŶŽůŽŐLJĐŽŶƐƚƌƵĐƟŽŶ
ƉƌŽĚƵĐƚƐ
hůƟŵĂƚĞWŽƐŝƟŽŶŝŶŐ'ƌŽƵƉ Australia 29.4 Ϯϵ͘ϰ ϯ ^ĂůĞ͕ŚŝƌĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨ
WƚLJ>ƚĚ dƌŝŵďůĞƐƵƌǀĞLJŝŶŐ
ĞƋƵŝƉŵĞŶƚ

page 270 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
ƵƚŽĂǀĂƌŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
&ŽƌĚDĂůĂLJƐŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 51.0 ϱϭ͘Ϭ ϭ Ϳ
,LJƵŶĚĂŝͲ^ŝŵĞĂƌďLJ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĂůĞƐĂŶĚĚŝƐƚƌŝďƵƟŽŶŽĨ
 DŽƚŽƌƐ^ĚŶŚĚ ƉĂƐƐĞŶŐĞƌĂŶĚůŝŐŚƚ
ĐŽŵŵĞƌĐŝĂůǀĞŚŝĐůĞƐĂŶĚ
spare parts
/ŶŽŬŽŵŽƌƉŽƌĂƟŽŶ^ĚŶŚĚ DĂůĂLJƐŝĂ 53.5 ϱϯ͘ϱ ϭ DĂŶƵĨĂĐƚƵƌĞĂŶĚĂƐƐĞŵďůLJ
ŽĨůŝŐŚƚĐŽŵŵĞƌĐŝĂůĂŶĚ
ƉĂƐƐĞŶŐĞƌǀĞŚŝĐůĞƐ͕ĂŶĚ
ĐŽŶƚƌĂĐƚĂƐƐĞŵďůLJŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐ
:ĂŐƵĂƌ>ĂŶĚZŽǀĞƌ;DĂůĂLJƐŝĂͿ DĂůĂLJƐŝĂ 60.0 ϲϬ͘Ϭ ϭ /ŵƉŽƌƚĂƟŽŶĂŶĚĚŝƐƚƌŝďƵƟŽŶ
^ĚŶŚĚ ŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
spare parts
^ŝŵĞĂƌďLJƵƚŽĂǀĂƌŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ DĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ͕
ƌĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐ͕
ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐ͕ĂŌĞƌͲƐĂůĞƐ
ƐĞƌǀŝĐĞƐĂŶĚĂƐƐĞŵďůĞƌŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐ
^ŝŵĞĂƌďLJƵƚŽƌŝƚĂŶŶŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 75.0 ϳϱ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨĂŌĞƌͲƐĂůĞƐ
services
^ŝŵĞĂƌďLJƵƚŽŽŶŶĞyŝŽŶ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚƐƉĂƌĞ
ƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
services
^ŝŵĞĂƌďLJƵƚŽŶŐŝŶĞĞƌŝŶŐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ,ŽůĚĞƌŽĨůŝĐĞŶƐĞĨŽƌ
^ĚŶŚĚ;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐ ŵĂŶƵĨĂĐƚƵƌŝŶŐĂŶĚ
^ŝŵĞĂƌďLJ^LJƐƚĞŵ/ŶƚĞŐƌĂƚŽƌƐ ĂƐƐĞŵďůŝŶŐŽĨĞŶŐŝŶĞƐ
^ĚŶŚĚͿ ĨŽƌŵŽƚŽƌǀĞŚŝĐůĞƐ
^ŝŵĞĂƌďLJƵƚŽ,LJƵŶĚĂŝ^ĚŶŚĚ DĂůĂLJƐŝĂ 51.0 ϱϭ͘Ϭ ϭ ^ĂůĞŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
services

ANNUAL REPORT 2018 page 271

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJƵƚŽ/ŵƉŽƌƚƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ /ŵƉŽƌƚĂƟŽŶŽĨŵŽƚŽƌ
ǀĞŚŝĐůĞƐĂŶĚƐƉĂƌĞƉĂƌƚƐ
^ŝŵĞĂƌďLJƵƚŽWĞƌĨŽƌŵĂŶĐĞ DĂůĂLJƐŝĂ 70.0 ϳϬ͘Ϭ ϭ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
^ĚŶŚĚ ŵŽƚŽƌǀĞŚŝĐůĞƐ͕ƐƉĂƌĞ
ƉĂƌƚƐĂŶĚĂĐĐĞƐƐŽƌŝĞƐĂŶĚ
ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJƵƚŽ^ĞůĞĐƟŽŶ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ^ĂůĞƐŽĨƵƐĞĚŵŽƚŽƌ
ǀĞŚŝĐůĞƐĂŶĚƐƉĂƌĞƉĂƌƚƐ
^ŝŵĞĂƌďLJ,LJƵŶĚĂŝ/ŶƚĞŐƌĂƚĞĚ DĂůĂLJƐŝĂ 51.0 ϱϭ͘Ϭ ϭ ŝƐƚƌŝďƵƟŽŶŽĨŵŽƚŽƌ
^ĚŶŚĚ vehicles
^ŝŵĞĂƌďLJ,LJƵŶĚĂŝ^ĚŶŚĚ DĂůĂLJƐŝĂ 51.0 ϱϭ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
ŝŵƉŽƌƚĂƟŽŶŽĨŵŽƚŽƌ
vehicles
^ŝŵĞĂƌďLJDŽƚŽƌƐKǀĞƌƐĞĂƐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
,ŽůĚŝŶŐƐ^ĚŶŚĚ;ĨŽƌŵĞƌůLJŬŶŽǁŶ Ϳ
ĂƐ^ŝŵĞĂƌďLJDŽƚŽƌ'ƌŽƵƉ Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;dĂŝǁĂŶͿ^ĚŶŚĚͿ Ϳ
^ŝŵĞĂƌďLJDŽƚŽƌƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
^ŝŵĞĂƌďLJZĞŶƚͲͲĂƌ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ sĞŚŝĐůĞƌĞŶƚĂů
ƵƌŽƉĞƵƚŽŵŽďŝůĞƐŽƌƉŽƌĂƟŽŶ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
,ŽůĚŝŶŐƐWƚĞ>ƚĚ
WĞƌĨŽƌŵĂŶĐĞDŽƚŽƌƐ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ DŽƚŽƌǀĞŚŝĐůĞƐĚĞĂůĞƌƐŚŝƉ
WĞƌĨŽƌŵĂŶĐĞDƵŶŝĐŚƵƚŽƐ ^ŝŶŐĂƉŽƌĞ 60.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
WƚĞ>ƚĚ ŵŽƚŽƌǀĞŚŝĐůĞƐ
WĞƌĨŽƌŵĂŶĐĞWƌĞŵŝƵŵ ^ŝŶŐĂƉŽƌĞ 60.0 ϲϬ͘Ϭ Ϯ ZĞƚĂŝůĞƌ͕ǁŚŽůĞƐĂůĞƌĂŶĚ
^ĞůĞĐƟŽŶ>ŝŵŝƚĞĚ ĞdžƉŽƌƚĞƌŽĨƵƐĞĚĐĂƌƐ

page 272 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJDŽƚŽƌ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ ŵĂŶĂŐĞŵĞŶƚĂŶĚ
ĂƵdžŝůŝĂƌLJƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJ^ĞƌǀŝĐĞƐWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ sĞŚŝĐůĞƌĞŶƚĂů
^ŝŵĞĂƌďLJ^ŝŶŐĂƉŽƌĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ 'ĞŶĞƌĂůŝŶƐƵƌĂŶĐĞĂŐĞŶĐLJ
 ďƵƐŝŶĞƐƐ
^ŝŵĞ^ŝŶŐĂƉŽƌĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
sĂŶƚĂŐĞƵƚŽŵŽƟǀĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ DŽƚŽƌǀĞŚŝĐůĞƐĚĞĂůĞƌƐŚŝƉ
ŚĂŶŐƐŚĂŽǁzƵĞsĞŚŝĐůĞ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
^ĞƌǀŝĐĞƐŽ>ƚĚ ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
services
ŚĞŶŐĚƵŽǁzƵĞ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨƵƐĞĚĐĂƌƐĂŶĚ
hƐĞĚĂƌƐĞŶƚƌĞŽ>ƚĚ ƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ
ŚĞŶŐĚƵŽǁzƵĞ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
sĞŚŝĐůĞŽ>ƚĚ ƐƉĂƌĞƉĂƌƚƐ͕ĂŌĞƌͲƐĂůĞƐ
ƐĞƌǀŝĐĞƐĂŶĚŝŶǀĞƐƚŵĞŶƚ
ŚŽůĚŝŶŐ
ŚŽŶŐƋŝŶŐŽǁŚƵĂŶŐDŽƚŽƌ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
^ĂůĞƐΘ^ĞƌǀŝĐĞƐŽ>ƚĚ ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
services
'ƵĂŶŐĚŽŶŐĞĚĂŽǁDĂ ŚŝŶĂ 65.0 ϲϱ͘Ϭ Ϯ ZĞƚĂŝůŽĨƐƉĂƌĞƉĂƌƚƐĂŶĚ
DŽƚŽƌ^ĞƌǀŝĐĞŽ>ƚĚ ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ
'ƵĂŶŐnjŚŽƵŽǁzƵĞsĞŚŝĐůĞ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
dƌĂĚŝŶŐŽ>ƚĚ spare parts
,ĂŝŶĂŶŽǁzƵĞsĞŚŝĐůĞƐdƌĂĚŝŶŐ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ĂŶĚ^ĞƌǀŝĐĞƐ>ƚĚ Ϳ
,ĂŶŐnjŚŽƵ^ŝŵĞĂƌďLJDŽƚŽƌƐ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ Ϳ
^ĂůĞƐĂŶĚ^ĞƌǀŝĐĞƐŽ>ƚĚ Ϳ
ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
,ĂŶŐnjŚŽƵ^ŝŵĞĂƌďLJdƌĂĚŝŶŐŽ>ƚĚ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ Ϳ
ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
Ϳ
<ƵŶŵŝŶŐŽǁŚƵĂŶŐDŽƚŽƌ ŚŝŶĂ 65.0 – Ϯ services
Ϳ
^ĂůĞƐĂŶĚ^ĞƌǀŝĐĞƐŽ>ƚĚ
Ϳ
EĂŶũŝŶŐ^ŝŵĞĂƌďLJDŽƚŽƌƐ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ Ϳ
^ĂůĞƐΘ^ĞƌǀŝĐĞƐŽ>ƚĚ Ϳ

ANNUAL REPORT 2018 page 273

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŚĂŶŐŚĂŝ^ŝŵĞĂƌďLJDŽƚŽƌ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
ŽŵŵĞƌĐĞŽ>ƚĚ ŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŚĂŶŐŚĂŝ^ŝŵĞĂƌďLJDŽƚŽƌ^ĂůĞƐ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
ĂŶĚ^ĞƌǀŝĐĞƐŽ>ƚĚ ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲ
sales services
^ŚĂŶƚŽƵŽǁzƵĞĞŚŽŶŐDŽƚŽƌƐ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨƐƉĂƌĞƉĂƌƚƐĂŶĚ
^ĞƌǀŝĐĞƐŽ>ƚĚ ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐĨŽƌ
ŵŽƚŽƌǀĞŚŝĐůĞƐ
^ŚĂŶƚŽƵŽǁzƵĞsĞŚŝĐůĞdƌĂĚŝŶŐ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
Ž>ƚĚ Ϳ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐ
^ŚĞŶnjŚĞŶŽǁŚƵĂŶŐsĞŚŝĐůĞ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ ĂŶĚƐƉĂƌĞƉĂƌƚƐ
dƌĂĚŝŶŐŽ>ƚĚ Ϳ
^ŚĞŶnjŚĞŶ^ŝŵĞĂƌďLJDŽƚŽƌ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨƐƉĂƌĞƉĂƌƚƐĂŶĚ
ŶƚĞƌƉƌŝƐĞƐŽ>ƚĚ ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐĨŽƌ
ŵŽƚŽƌǀĞŚŝĐůĞƐ
zƵŶŶĂŶŽǁzƵĞsĞŚŝĐůĞ ŚŝŶĂ 65.0 ϲϱ͘Ϭ Ϯ Ϳ
ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
dƌĂĚŝŶŐŽ>ƚĚ Ϳ
ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
zƵŶŶĂŶĞŬĂŝŽǁDĂDŽƚŽƌƐ ŚŝŶĂ 65.0 ϲϱ͘Ϭ Ϯ Ϳ
services
dĞĐŚŶŽůŽŐLJΘ^ĞƌǀŝĐĞŽ>ƚĚ Ϳ
DtŽŶĐĞƐƐŝŽŶĂŝƌĞƐ;,<Ϳ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐ͕ĂŌĞƌͲƐĂůĞƐ
ƐĞƌǀŝĐĞƐĂŶĚŝŶǀĞƐƚŵĞŶƚ
ŚŽůĚŝŶŐ
ŽǁDĂDŽƚŽƌƐ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;^ŽƵƚŚŚŝŶĂͿ>ŝŵŝƚĞĚ
'ŽŽĚǁŽŽĚDŽƚŽƌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
/ƐůĂŶĚDŽƚŽƌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ ŵŽƚŽƌǀĞŚŝĐůĞƐ
DĂƌŬƐǁŽƌƚŚ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚ,ŽůĚŝŶŐ
^ŝŵĞĂƌďLJ,ŽŶŐŬŽŶŐ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ WƌŽǀŝƐŝŽŶŽĨŝŶƚƌĂͲŐƌŽƵƉ
&ŝŶĂŶĐĞ>ŝŵŝƚĞĚ ĮŶĂŶĐŝĂůƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJDĂŶĂŐŝŶŐŐĞŶĐLJ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶƐƵƌĂŶĐĞĂŐĞŶĐLJ
;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ

page 274 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJDŽƚŽƌ'ƌŽƵƉ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;,<Ϳ>ŝŵŝƚĞĚ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJDŽƚŽƌ'ƌŽƵƉ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
;WZͿ>ŝŵŝƚĞĚ Ϳ
^ŝŵĞĂƌďLJDŽƚŽƌ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
^ĞƌǀŝĐĞƐ>ŝŵŝƚĞĚ ŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚƐƉĂƌĞ
ƉĂƌƚƐ͕ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ͕
ŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐĂŶĚ
ƉƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
^ŝŵĞtŝŶŶĞƌ,ŽůĚŝŶŐƐ ,ŽŶŐ<ŽŶŐ 60.0 ϲϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
>ŝŵŝƚĞĚ
hŶŝǀĞƌƐĂůƵƚŽŵŽďŝůĞ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
ŽŵƉĂŶLJ>ŝŵŝƚĞĚ Ϳ
ŵŽƚŽƌǀĞŚŝĐůĞƐ
hŶŝǀĞƌƐĂůĂƌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
tĂůůĂĐĞ,ĂƌƉĞƌDŽƚŽƌƐ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ ĂƌůĞĂƐŝŶŐ
ŽŵƉĂŶLJ>ŝŵŝƚĞĚ
DtŽŶĐĞƐƐŝŽŶĂŝƌĞƐ DĂĐĂƵ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
;DĂĐĂƵͿ>ŝŵŝƚĞĚ Ϳ
ƐƉĂƌĞƉĂƌƚƐĂŶĚĂŌĞƌͲƐĂůĞƐ
,ĂƌƉĞƌŶŐŝŶĞĞƌŝŶŐ DĂĐĂƵ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
services
;DĂĐĂƵͿ>ŝŵŝƚĞĚ Ϳ
ƌŝƐďĂŶĞDtŽĚLJƐŚŽƉWƚLJ>ƚĚ Australia 70.0 ϳϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨƐƉĂƌĞƉĂƌƚƐ͕ƉĂŶĞůƐ
ĂŶĚĂĐĐĞƐƐŽƌŝĞƐ
ƌŝƐďĂŶĞDthŶŝƚdƌƵƐƚ Australia 70.0 ϳϬ͘Ϭ Ϯ Ϳ
DŽƚŽƌǀĞŚŝĐůĞĚĞĂůĞƌƐŚŝƉƐ
>DD,ŽůĚŝŶŐƐWƚLJ>ƚĚ Australia 70.0 ϳϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJƵƚŽŵŽďŝůĞƐ Australia 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐŝŶ
WƚLJ>ƚĚ  ƌĞƚĂŝůĚĞĂůĞƌƐŚŝƉƉƌŽƉĞƌƚLJ
^ŝŵĞĂƌďLJ&ůĞĞƚ Australia 100.0 ϭϬϬ͘Ϭ Ϯ sĞŚŝĐůĞƌĞŶƚĂůĂŶĚƌĞůĂƚĞĚ
^ĞƌǀŝĐĞƐWƚLJ>ƚĚ ŵĞĐŚĂŶŝĐĂůƐĞƌǀŝĐĞƐ

ANNUAL REPORT 2018 page 275

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJDŽƚŽƌƐ'ƌŽƵƉ;ƵƐƚƌĂůŝĂͿ Australia 100.0 ϭϬϬ͘Ϭ Ϯ WƌŽǀŝƐŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ
WƚLJ>ŝŵŝƚĞĚ ƐĞƌǀŝĐĞƐĂŶĚŝŶǀĞƐƚŵĞŶƚ
ŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJDŽƚŽƌƐZĞƚĂŝů Australia 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
ƵƐƚƌĂůŝĂWƚLJ>ŝŵŝƚĞĚ ĂŌĞƌͲƐĂůĞƐƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJDŽƚŽƌƐtŚŽůĞƐĂůĞ Australia 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
ƵƐƚƌĂůŝĂWƚLJ>ŝŵŝƚĞĚ vehicles rental services
ŽŶƟŶĞŶƚĂůĂƌ^ĞƌǀŝĐĞƐ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŶĞǁĂŶĚƵƐĞĚ
ƉĂƐƐĞŶŐĞƌĐĂƌƐĂŶĚůŝŐŚƚ
ĐŽŵŵĞƌĐŝĂůǀĞŚŝĐůĞƐ͕
ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐĂŶĚ
ƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ
,ŝŶŽŝƐƚƌŝďƵƚŽƌƐE>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶ
ĂŶĚƌĞƚĂŝůŽĨƚƌƵĐŬƐ
/ŶĮŶŝƚLJƵƚŽŵŽƟǀĞ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŶĞǁĂŶĚƵƐĞĚ
ƉĂƐƐĞŶŐĞƌĐĂƌƐĂŶĚůŝŐŚƚ
ĐŽŵŵĞƌĐŝĂůǀĞŚŝĐůĞƐ͕
ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐĂŶĚ
ƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ
DŽƚŽƌdƌƵĐŬŝƐƚƌŝďƵƚŽƌƐ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝů
;EͿ>ŝŵŝƚĞĚ ŽĨƚƌƵĐŬƐĂŶĚďƵƐĞƐ
EŽƌƚŚ^ŚŽƌĞDŽƚŽƌ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŶĞǁĂŶĚƵƐĞĚ
ƉĂƐƐĞŶŐĞƌĐĂƌƐ͕ƐƉĂƌĞ
ƉĂƌƚƐĂŶĚĂĐĐĞƐƐŽƌŝĞƐ
ĂŶĚƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJƵƚŽŵŽďŝůĞƐE>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶŽĨŵŽƚŽƌ
ǀĞŚŝĐůĞƐĂŶĚƐƉĂƌĞƉĂƌƚƐ
^ŝŵĞĂƌďLJŽŵŵĞƌĐŝĂů;EͿ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJDŽƚŽƌ'ƌŽƵƉ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;EͿ>ŝŵŝƚĞĚ Ϳ

page 276 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
dƌƵĐŬ^ƚŽƉƐ;EͿ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨƐƉĂƌĞƉĂƌƚƐĂŶĚ
ƐĞƌǀŝĐĞƐĨŽƌƚƌƵĐŬƐ
hdƌƵĐŬŝƐƚƌŝďƵƚŽƌƐ;EͿ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ŝƐƚƌŝďƵƟŽŶĂŶĚƌĞƚĂŝůŽĨ
ƚƌƵĐŬƐ͕ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐĂŶĚƌĞůĂƚĞĚ
services
WĞƌĨŽƌŵĂŶĐĞDŽƚŽƌƐ;dŚĂŝůĂŶĚͿ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
>ŝŵŝƚĞĚ  ƐƉĂƌĞƉĂƌƚƐĂŶĚƉƌŽǀŝƐŝŽŶ
ŽĨĂŌĞƌƐĂůĞƐƐĞƌǀŝĐĞƐ
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ƉĂŝŶƚĨĂĐŝůŝƚLJ
^ŝŵĞĂƌďLJ;dŚĂŝůĂŶĚͿ>ŝŵŝƚĞĚ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
ƉƌŽǀŝƐŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ
ĂŶĚĂƵdžŝůŝĂƌLJƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJDĂnjĚĂ;dŚĂŝůĂŶĚͿ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ZĞƚĂŝůŽĨŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
>ŝŵŝƚĞĚ Ϳ
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^ŝŵĞĂƌďLJsĂŶƚĂŐĞ;dŚĂŝůĂŶĚͿ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
ŽĨĂŌĞƌƐĂůĞƐƐĞƌǀŝĐĞƐ
>ŝŵŝƚĞĚ Ϳ
sŝŬŝŶŐDŽƚŽƌƐ>ŝŵŝƚĞĚ dŚĂŝůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ >ĞĂƐŝŶŐŽĨƉƌŽƉĞƌƟĞƐ
^ŝŵĞĂƌďLJƵƚŽ<ŝĂŽ>ƚĚ dĂŝǁĂŶ 100.0 ϭϬϬ͘Ϭ Ϯ tŚŽůĞƐĂůĞĂŶĚƌĞƚĂŝůŽĨ
ǀĞŚŝĐůĞƐ͕ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐĂŶĚĂŌĞƌͲ
sales services
^ŝŵĞĂƌďLJ<ŝĂdĂŝǁĂŶŽ>ƚĚ dĂŝǁĂŶ 100.0 ϭϬϬ͘Ϭ Ϯ DĂŶƵĨĂĐƚƵƌĞĂŶĚƐĂůĞƐŽĨ
ǀĞŚŝĐůĞƐ͕ƐƉĂƌĞƉĂƌƚƐĂŶĚ
ĂĐĐĞƐƐŽƌŝĞƐĂŶĚƌĞƉĂŝƌƐ
ĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨ
ǀĞŚŝĐůĞƐĂŶĚŽƚŚĞƌ
ĂƵƚŽŵŽƟǀĞƐĞƌǀŝĐĞƐ
WĞƌĨŽƌŵĂŶĐĞDŽƚŽƌƐsŝĞƚŶĂŵ:ŽŝŶƚ sŝĞƚŶĂŵ 99.0 ϵϵ͘Ϭ Ϯ ZĞƚĂŝůŽĨǀĞŚŝĐůĞƐĂŶĚ
^ƚŽĐŬŽŵƉĂŶLJ ƉƌŽǀŝƐŝŽŶŽĨďŽĚLJĂŶĚ
paint services
^ŝŵĞĂƌďLJ,ŽŶŐ<ŽŶŐ ĞƌŵƵĚĂ 100.0 ϭϬϬ͘Ϭ ϰ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
'ƌŽƵƉŽŵƉĂŶLJ>ŝŵŝƚĞĚ

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ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
DŽƚŽƌƐʹƐƐŽĐŝĂƚĞƐ
DtDĂůĂLJƐŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 49.0* ϰϵ͘Ϭ* ϯ ^ĂůĞĂŶĚĚŝƐƚƌŝďƵƟŽŶŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚ
ŵŽƚŽƌĐLJĐůĞƐ
^ŝŵĞ<ĂŶƐĂŝWĂŝŶƚƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 40.0 ϰϬ͘Ϭ ϯ DĂŶƵĨĂĐƚƵƌŝŶŐ͕ƐĞůůŝŶŐĂŶĚ
ŵĂƌŬĞƟŶŐŽĨĂƵƚŽŵŽƟǀĞ
ĂŶĚŝŶĚƵƐƚƌŝĂůƉĂŝŶƚƐ
DƵŶŝĐŚƵƚŽŵŽďŝůĞƐWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϰϬ͘Ϭ ϯ ^ĂůĞĂŶĚĚŝƐƚƌŝďƵƟŽŶŽĨ
ŵŽƚŽƌǀĞŚŝĐůĞƐĂŶĚĂŌĞƌͲ
sales services
Dt&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐ ,ŽŶŐ<ŽŶŐ 49.0 ϰϵ͘Ϭ ϯ WƌŽǀŝƐŝŽŶŽĨĮŶĂŶĐŝŶŐĂŶĚ
,ŽŶŐ<ŽŶŐ>ŝŵŝƚĞĚ ŚŝƌĞƉƵƌĐŚĂƐĞĨĂĐŝůŝƟĞƐ

page 278 SIME DARBY BERHAD

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ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
>ŽŐŝƐƟĐƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
^ŝŵĞĂƌďLJ>ŽŐŝƐƟĐƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
:ŝŶŝŶŐ^ŝŵĞĂƌďLJ>ŽŶŐŐŽŶŐ ŚŝŶĂ 70.0 ϳϬ͘Ϭ Ϯ Ϳ
WŽƌƚŽ>ƚĚ Ϳ WŽƌƚŽƉĞƌĂƟŽŶƐ
:ŝŶŝŶŐ^ŝŵĞĂƌďLJWŽƌƚŽ>ƚĚ ŚŝŶĂ 70.0 ϳϬ͘Ϭ Ϯ Ϳ
:ŝŶŝŶŐ^ŝŵĞĂƌďLJ ŚŝŶĂ 70.0 ϳϬ͘Ϭ Ϯ WŽƌƚĂŶĚǁĂƌĞŚŽƵƐŝŶŐ
dĂŝƉŝŶŐWŽƌƚŽ>ƚĚ ŽƉĞƌĂƟŽŶƐ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJ'ĞŶĞƌĂů ŚŝŶĂ 99.9 ϵϵ͘ϵ Ϯ Ϳ
dĞƌŵŝŶĂůŽ>ƚĚ Ϳ WŽƌƚŽƉĞƌĂƟŽŶƐ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJWŽƌƚŽ>ƚĚ ŚŝŶĂ 99.0 ϵϵ͘Ϭ Ϯ Ϳ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJtĂƚĞƌ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ dƌĞĂƚŵĞŶƚĂŶĚ
DĂŶĂŐĞŵĞŶƚŽ>ƚĚ ƐƵƉƉůLJŽĨǁĂƚĞƌ
tĞŝĨĂŶŐtĞŝ'ĂŶŐdƵŐďŽĂƚ ŚŝŶĂ 99.5 ϵϵ͘ϱ ϯ dƵŐďŽĂƚƉŝůŽƚĂŶĚƌĞůĂƚĞĚ
^ĞƌǀŝĐĞƐŽ>ƚĚ services
^ŝŵĞĂƌďLJKǀĞƌƐĞĂƐ;,<Ϳ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ

>ŽŐŝƐƟĐƐʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
tĞŝĨĂŶŐWŽƌƚ^ĞƌǀŝĐĞƐŽ>ƚĚ'ƌŽƵƉ ŚŝŶĂ 36.6 ϯϲ͘ϲ ϯ ŽŶƐƚƌƵĐƟŽŶ͕ŵĂŶĂŐĞŵĞŶƚ
ĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƐĞĂ
ĐŚĂŶŶĞů͕ĂŶĐŚŽƌĂŐĞĂŶĚ
ƉŽƌƚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ
tĞŝĨĂŶŐ^ĞŶĚĂŽŶƚĂŝŶĞƌ^ĞƌǀŝĐĞ ŚŝŶĂ 50.0 ϱϬ͘Ϭ ϯ KƉĞƌĂƟŽŶŽĨĐŽŶƚĂŝŶĞƌ
WƌŽǀŝĚĞƌŽ>ƚĚ services

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ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
>ŽŐŝƐƟĐƐʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ;ĐŽŶƟŶƵĞĚͿ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJ>ŝƋƵŝĚ ŚŝŶĂ 50.0 ϱϬ͘Ϭ Ϯ KƉĞƌĂƟŽŶŽĨůŝƋƵŝĚƚĞƌŵŝŶĂů
dĞƌŵŝŶĂůŽ>ƚĚ ĂŶĚƐƚŽƌĂŐĞƐĞƌǀŝĐĞƐ
tĞŝĨĂŶŐ^ŝŵĞĂƌďLJtĞƐƚWŽƌƚ ŚŝŶĂ 50.0 ϱϬ͘Ϭ Ϯ WŽƌƚŽƉĞƌĂƟŽŶƐ
 Ž>ƚĚ

>ŽŐŝƐƟĐƐʹƐƐŽĐŝĂƚĞ
tĞŝĨĂŶŐKĐĞĂŶ^ŚŝƉƉŝŶŐdĂůůLJ ŚŝŶĂ 39.6 ϯϵ͘ϲ ϯ ^ŚŝƉƉŝŶŐƚĂůůLJƐĞƌǀŝĐĞƐĨŽƌ
 Ž>ƚĚ ĐĂƌŐŽĂŶĚĐŽŶƚĂŝŶĞƌƐ

KƚŚĞƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
<ƵŵƉƵůĂŶ^ŝŵĞĂƌďLJĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
^ŝŵĞĂƌďLJůůŝĞĚWƌŽĚƵĐƚƐĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJŶĞƌŐLJ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
^ŝŵĞĂƌďLJŶŐŝŶĞĞƌŝŶŐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ŶŐŝŶĞĞƌŝŶŐ͕ƉƌŽĐƵƌĞŵĞŶƚ͕
^ĚŶŚĚ ĐŽŶƐƚƌƵĐƟŽŶ͕ŝŶƐƚĂůůĂƟŽŶ͕
ŚŽŽŬͲƵƉĂŶĚ
ĐŽŵŵŝƐƐŝŽŶŝŶŐƐĞƌǀŝĐĞƐ
ƌĞůĂƟŶŐƚŽŽŝůĂŶĚ
ŐĂƐŝŶĚƵƐƚƌLJ
^ŝŵĞĂƌďLJ'ůŽďĂů^ĞƌǀŝĐĞƐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨƐŚĂƌĞĚ
ĞŶƚƌĞ^ĚŶŚĚ services
^ŝŵĞĂƌďLJ,ŽůĚŝŶŐƐĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕
ƉƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ƉƌŽǀŝƐŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ
ƐĞƌǀŝĐĞƐƚŽŐƌŽƵƉ
ĐŽŵƉĂŶŝĞƐ
^ŝŵĞĂƌďLJ,ŽůŝĚĂLJ,ŽŵĞƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
ƐĞƌǀŝĐĞƐĂŶĚĐŚŝůĚĐĂƌĞ
ƐĞƌǀŝĐĞƐƚŽĞŵƉůŽLJĞĞƐ

page 280 SIME DARBY BERHAD

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Amounts in RM million unless otherwise stated

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^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
KƚŚĞƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJ/ŶƐƵƌĂŶĐĞWƚĞ>ƚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ KŶƐŚŽƌĞĂŶĚŽīƐŚŽƌĞ
ĐĂƉƟǀĞŝŶƐƵƌĞƌ
^ŝŵĞĂƌďLJ>ŽĐŬƚŽŶ/ŶƐƵƌĂŶĐĞ DĂůĂLJƐŝĂ 60.0 ϲϬ͘Ϭ ϭ /ŶƐƵƌĂŶĐĞĂŶĚƌĞŝŶƐƵƌĂŶĐĞ
ƌŽŬĞƌƐ^ĚŶŚĚ ďƌŽŬĞƌƐ͕ŝŶƐƵƌĂŶĐĞ
ĂĚǀŝƐŽƌLJĂŶĚĐŽŶƐƵůƚĂŶĐLJ
services
^ŝŵĞĂƌďLJDĂůĂLJƐŝĂĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ ,ŽůĚŝŶŐŽĨƚƌĂĚĞŵĂƌŬƐ
^ŝŵĞĂƌďLJEŽŵŝŶĞĞƐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
^ĞŶĚŝƌŝĂŶĞƌŚĂĚ Ϳ
^ŝŵĞĂƌďLJsĞŶƚƵƌĞƐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ Ϳ
Ϳ
^ŝŵĞĂƌďLJtĂƚĞƌZĞƐŽƵƌĐĞƐ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
Ϳ
^ĚŶŚĚ
^ŝŵĞĂƌďLJĂƐƚĞƌŶ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ Ϳ
^ŝŵĞĂƌďLJ/ŶƐƵƌĂŶĐĞƌŽŬĞƌƐ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶƐƵƌĂŶĐĞďƌŽŬĞƌƐ
;^ŝŶŐĂƉŽƌĞͿWƚĞ>ƚĚ
^ŝŵĞĂƌďLJ&ĂƌĂƐƚ;ϭϵϵϭͿ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJ,ŽŶŐ<ŽŶŐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJ/ŶƐƵƌĂŶĐĞƌŽŬĞƌƐ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ /ŶƐƵƌĂŶĐĞďƌŽŬĞƌƐ
;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ
^ŝŵĞĂƌďLJ/ŶǀĞƐƚŵĞŶƚƐ;s/Ϳ ƌŝƟƐŚsŝƌŐŝŶ 100.0 ϭϬϬ͘Ϭ ϰ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
>ŝŵŝƚĞĚ /ƐůĂŶĚƐ ŚŽůĚŝŶŐŽĨƚƌĂĚĞŵĂƌŬƐ

ANNUAL REPORT 2018 page 281

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
KƚŚĞƌƐʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
DĂůĂLJƐŝĂʹŚŝŶĂ,LJĚƌŽ:ŽŝŶƚsĞŶƚƵƌĞ DĂůĂLJƐŝĂ 48.9 ϰϴ͘ϵ ϭ ŶŐŝŶĞĞƌŝŶŐ͕ƉƌŽĐƵƌĞŵĞŶƚ
ĂŶĚĐŽŶƐƚƌƵĐƟŽŶǁŽƌŬ
ZĂŵƐĂLJ^ŝŵĞĂƌďLJ,ĞĂůƚŚĂƌĞ DĂůĂLJƐŝĂ 50.0 ϱϬ͘Ϭ ϭ KƉĞƌĂƟŽŶŽĨŚĞĂůƚŚĐĂƌĞ
^ĚŶŚĚŐƌŽƵƉ ĨĂĐŝůŝƟĞƐĂŶĚƌĞůĂƚĞĚ
healthcare services

KƚŚĞƌƐʹƐƐŽĐŝĂƚĞƐ
ĂƐƚĞƌŶΘKƌŝĞŶƚĂůĞƌŚĂĚŐƌŽƵƉ DĂůĂLJƐŝĂ 11.8 ϭϭ͘ϲ ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕ŚŽƚĞů
ŽǁŶĞƌƐŚŝƉĂŶĚ
ŵĂŶĂŐĞŵĞŶƚ͕ƉƌŽƉĞƌƚLJ
ŝŶǀĞƐƚŵĞŶƚĂŶĚ
ĚĞǀĞůŽƉŵĞŶƚ
dĞƐĐŽ^ƚŽƌĞƐ;DĂůĂLJƐŝĂͿ^ĚŶŚĚ DĂůĂLJƐŝĂ 30.0 ϯϬ͘Ϭ ϯ KƉĞƌĂƟŽŶŽĨŚLJƉĞƌŵĂƌŬĞƚƐ
zĂLJĂƐĂŶ^ŝŵĞĂƌďLJ DĂůĂLJƐŝĂ @ Λ ϭ ĚŵŝŶŝƐƚƌĂƟŽŶŽĨ
ƐĐŚŽůĂƌƐŚŝƉĂǁĂƌĚƐĂŶĚ
ĞĚƵĐĂƟŽŶĂůůŽĂŶƐ͕
ƵŶĚĞƌƚĂŬĞƐƉŽƌƚƐ͕
ĞŶǀŝƌŽŶŵĞŶƚĂů
ĐŽŶƐĞƌǀĂƟŽŶĂŶĚ
ƐƵƐƚĂŝŶĂďŝůŝƚLJƉƌŽũĞĐƚƐ
hŶŝŽŶ^ŝŵĞĂƌďLJ dŚĂŝůĂŶĚ 49.0 ϰϵ͘Ϭ Ϯ /ŶƐƵƌĂŶĐĞďƌŽŬĞƌƐ
;dŚĂŝůĂŶĚͿ>ƚĚ

page 282 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĚŽƌŵĂŶƚͬŝŶĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ
/ŶĚƵƐƚƌŝĂůʹ^ƵďƐŝĚŝĂƌŝĞƐ
ƐƐŽĐŝĂƚĞĚdƌĂĐƚŽƌƐ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
dƌĂĐƚŽƌƐDĂĐŚŝŶĞƌLJ/ŶƚĞƌŶĂƟŽŶĂůWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJ^DĞĂůĞƌ;&ƵũŝĂŶͿ>ƚĚ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJzĂŶŐŽŶ>ŝŵŝƚĞĚ DLJĂŶŵĂƌ 100.0 ϭϬϬ͘Ϭ ϯ

DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
ƐƐŽĐŝĂƚĞĚDŽƚŽƌ/ŶĚƵƐƚƌŝĞƐDĂůĂLJƐŝĂ^ĚŶŚĚ DĂůĂLJƐŝĂ 51.0 ϱϭ͘Ϭ ϭ
ƵƚŽĂǀĂƌŝĂDWĞƌĨŽƌŵĂŶĐĞ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
,LJƵŶĚĂŝͲ^ŝŵĞĂƌďLJĞƌŚĂĚ DĂůĂLJƐŝĂ 99.9 ϵϵ͘ϵ ϭ
,ĂŝŶĂŶŽǁzƵĞsĞŚŝĐůĞdƌĂĚŝŶŐŽ>ƚĚ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ
dŝĂŶũŝŶ^ŝŵĞtŝŶŶĞƌDŽƚŽƌƐdƌĂĚŝŶŐŽ>ƚĚ ŚŝŶĂ 60.0 ϲϬ͘Ϭ Ϯ
ƵƚŽ&ƌĂŶĐĞŚŝŶĂ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJDĂŶĂŐĞŵĞŶƚ^ĞƌǀŝĐĞƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞtŝŶŶĞƌEŝƐƐĂŶƵƚŽĐƌĂŌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 60.0 ϲϬ͘Ϭ Ϯ
hŶŝǀĞƌƐĂůĂƌƐ;/ŵƉŽƌƚĞƌƐͿ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ
tĂůůĂĐĞ,ĂƌƉĞƌΘŽŵƉĂŶLJ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ
tĂƌǁŝĐŬDŽƚŽƌƐ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJ,ŽŶŐ<ŽŶŐ'ƌŽƵƉŽŵƉĂŶLJ>ŝŵŝƚĞĚ ĞƌŵƵĚĂ 100.0 ϭϬϬ͘Ϭ ϰ
ŽŶƟŶĞŶƚĂůĂƌƐ>ŝŵŝƚĞĚ EĞǁĞĂůĂŶĚ 100.0 ϭϬϬ͘Ϭ Ϯ
ƵƌŽƉĞƵƚŽŵŽďŝůĞƐŽƌƉŽƌĂƟŽŶ sŝĞƚŶĂŵ 99.0 ϵϵ͘Ϭ Ϯ

ANNUAL REPORT 2018 page 283

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĚŽƌŵĂŶƚͬŝŶĂĐƟǀĞĂƐĂƚϯϬ:ƵŶĞϮϬϭϴĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ
>ŽŐŝƐƟĐƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
:ŝŶŝŶŐ^ŝŵĞĂƌďLJ'ƵŽnjŚƵĂŶŐWŽƌƚŽ>ƚĚ ŚŝŶĂ 70.0 ϳϬ͘Ϭ Ϯ
tĞŝĨĂŶŐtĞŝ'ĂŶŐƌĞĚŐŝŶŐWƌŽũĞĐƚŽ>ƚĚ ŚŝŶĂ 99.5 ϵϵ͘ϱ ϯ

KƚŚĞƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
'ŽůĚĞŶ,ŽƉĞWůĂŶƚĂƟŽŶƐĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
,ŝŐŚůĂŶĚƐΘ>ŽǁůĂŶĚƐĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶ'ƵƚŚƌŝĞĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJDĂƌŝŶĞ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJtĂƚĞƌZĞƐŽƵƌĐĞƐ;WĞƌĂŬͿ^ĚŶŚĚ DĂůĂLJƐŝĂ 75.0 ϳϱ͘Ϭ ϭ
^ŝŵĞŶŐŝŶĞĞƌŝŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
^ŝŵĞhWWƌŽƉĞƌƟĞƐĞƌŚĂĚ DĂůĂLJƐŝĂ 100.0 ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJ;ŚŝŶĂͿŶƚĞƌƉƌŝƐĞDĂŶĂŐĞŵĞŶƚŽ>ƚĚ ŚŝŶĂ 100.0 ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJDĂƌŝŶĞ;,ŽŶŐ<ŽŶŐͿWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ 100.0 ϭϬϬ͘Ϭ Ϯ

KƚŚĞƌƐʹƐƐŽĐŝĂƚĞ
^ŝŵĞĂƌďLJůŵĂŶĂt>> Qatar 49.0 ϰϵ͘Ϭ ϰ

page 284 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ
ŚĂƌƚƋƵĞƐƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϲϭ͘ϭ ϭ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵ
ŚĞƌŵĂŶŐĞǀĞůŽƉŵĞŶƚ;DĂůĂLJĂͿ DĂůĂLJƐŝĂ – ϴϯ͘ϵ ϭ Ϳ
^ĚŶŚĚ Ϳ
Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
ŽŶƐŽůŝĚĂƚĞĚWůĂŶƚĂƟŽŶƐĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
Ϳ
'ŽůĚĞŶ,ŽƉĞKǀĞƌƐĞĂƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
'ƵƚŚƌŝĞ/ŶĚƵƐƚƌŝĞƐDĂůĂLJƐŝĂ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
^ĞŶĚŝƌŝĂŶĞƌŚĂĚ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
'ƵƚŚƌŝĞ/ŶƚĞƌŶĂƟŽŶĂů/ŶǀĞƐƚŵĞŶƚƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
;>Ϳ>ŝŵŝƚĞĚ Ϳ
Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
<ƵŵƉƵůĂŶ:ĞůĞŝ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
Ϳ
DŽƐƚLJŶWĂůŵWƌŽĐĞƐƐŝŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ĂŶŐƵŝŶĞ;DĂůĂLJƐŝĂͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵ
^ŝŵĞĂƌďLJŐƌŝͲŝŽ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ DĂŶƵĨĂĐƚƵƌŝŶŐŽĨƌĂƚďĂŝƚƐ
ĂŶĚƚƌĂĚŝŶŐŽĨĂŐƌŝĐƵůƚƵƌĂů
ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
^ŝŵĞĂƌďLJƵƐƚƌĂů,ŽůĚŝŶŐƐĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJƵƐƚƌĂů^ĚŶŚĚ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
^ŝŵĞĂƌďLJŝŽĚŝĞƐĞů^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ  WƌŽĚƵĐƟŽŶĂŶĚƐĂůĞŽĨ
ďŝŽĚŝĞƐĞůĂŶĚƌĞůĂƚĞĚ
ƉƌŽĚƵĐƚƐ
^ŝŵĞĂƌďLJŝŽƚĞĐŚ>ĂďŽƌĂƚŽƌŝĞƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨŽŝůƉĂůŵƟƐƐƵĞ
^ĚŶŚĚ culture services
^ŝŵĞĂƌďLJŽŶƐƵůƟŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJ&ŽŽĚƐΘĞǀĞƌĂŐĞƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ŝƐƚƌŝďƵƟŽŶĂŶĚŵĂƌŬĞƟŶŐ
DĂƌŬĞƟŶŐ^ĚŶŚĚ ŽĨĐŽŽŬŝŶŐŽŝů͕ƚŽĐŽƚƌŝĞŶŽůƐ͕
ŐƵĂǀĂũƵŝĐĞƐĂŶĚƉĂůŵ
ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ

ANNUAL REPORT 2018 page 285

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJ&ƵƚƵƌĞƐdƌĂĚŝŶŐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ dƌĂĚŝŶŐŽĨĐƌƵĚĞƉĂůŵŽŝů
^ĚŶŚĚ ĂŶĚƉĂůŵŽŝůƉƌŽĚƵĐƚƐĂŶĚ
ƐƵďͲŵĂƌŬĞƟŶŐĂŐĞŶƚŽĨ
ƌĞĮŶĞĚƉƌŽĚƵĐƚƐ
^ŝŵĞĂƌďLJ'ůŽďĂůĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ^ƉĞĐŝĂůƉƵƌƉŽƐĞǀĞŚŝĐůĞĨŽƌ
ƚŚĞŝƐƐƵĞŽĨƐĞĐƵƌŝƟĞƐ
ƉƌŽŐƌĂŵŵĞ
^ŝŵĞĂƌďLJ'ůŽďĂůdƌĂĚŝŶŐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ dƌĂĚŝŶŐŽĨĐŽŵŵŽĚŝƚLJ
;>ĂďƵĂŶͿ>ŝŵŝƚĞĚ
^ŝŵĞĂƌďLJ<ĞŵƉĂƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽĐĞƐƐŝŶŐŽĨĞĚŝďůĞŽŝůĂŶĚ
ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
^ŝŵĞĂƌďLJ>ĂƚĞdž^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚƉƌŽƉĞƌƚLJŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
;^ĂďĂŚͿ^ĚŶŚĚ Ϳ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
ƉĂůŵŬĞƌŶĞů
;^ĂƌĂǁĂŬͿ^ĚŶŚĚ Ϳ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ƵůƟǀĂƟŽŶĂŶĚƉƌŽĐĞƐƐŝŶŐ
ŽĨƉĂůŵŽŝů͕ƉĂůŵŬĞƌŶĞů͕
ƌƵďďĞƌĂŶĚŽƚŚĞƌƉĂůŵ
ŽŝůĂŶĚƌƵďďĞƌƌĞůĂƚĞĚ
ƉƌŽĚƵĐƚƐĂŶĚŝŶǀĞƐƚŵĞŶƚ
ŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶŚŝůĚĐĂƌĞ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ŚŝůĚĐĂƌĞƐĞƌǀŝĐĞƐƚŽ
ĞŶƚƌĞ^ĚŶŚĚ ĞŵƉůŽLJĞĞƐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ/ŶƚĞůůĞĐƚƵĂů DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ZĞŐŝƐƚĞƌĞĚŚŽůĚĞƌŽĨ
WƌŽƉĞƌƚLJ^ĚŶŚĚ ĐŽŵŵĞƌĐŝĂůƉĂƚĞŶƚƐ͕
ƚƌĂĚĞŵĂƌŬƐ͕ĐŽƉLJƌŝŐŚƚƐ͕
ƚƌĂĚĞƐĞĐƵƌŝƚLJĂŶĚ
/ŶƚĞůůĞĐƚƵĂůWƌŽƉĞƌƚLJ
ƌŝŐŚƚƐ

page 286 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
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^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ/d^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨŝŶĨŽƌŵĂƟŽŶ
;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐ^ŝŵĞĂƌďLJ ƚĞĐŚŶŽůŽŐLJƌĞůĂƚĞĚ
:ŽŵĂůŝŶĂ^ĚŶŚĚͿ services
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶdŚĂŝůĂŶĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ĚŶŚĚ
^ŝŵĞĂƌďLJZĞƐĞĂƌĐŚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ZĞƐĞĂƌĐŚĂŶĚĚĞǀĞůŽƉŵĞŶƚ
services on tropical
ĂŐƌŝĐƵůƚƵƌĞ
^ŝŵĞĂƌďLJ^ĞĞĚƐΘŐƌŝĐƵůƚƵƌĂů DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ŐƌŝĐƵůƚƵƌĂůƌĞƐĞĂƌĐŚĂŶĚ
^ĞƌǀŝĐĞƐ^ĚŶŚĚ ĂĚǀŝƐŽƌLJƐĞƌǀŝĐĞƐĂŶĚ
ƉƌŽĚƵĐƟŽŶŽĨŽŝůƉĂůŵ
ƐĞĞĚƐĂŶĚƐĞĞĚůŝŶŐƐ
^ŝŵĞĂƌďLJdĞĐŚŶŽůŽŐLJĞŶƚƌĞ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ZĞƐĞĂƌĐŚĂŶĚĚĞǀĞůŽƉŵĞŶƚ
^ĚŶŚĚ ƐĞƌǀŝĐĞƐŽŶďŝŽƚĞĐŚŶŽůŽŐLJ
ĂŶĚĂŐƌŝĐƵůƚƵƌĞ
dŚĞŚŝŶĂŶŐŝŶĞĞƌƐ;DĂůĂLJƐŝĂͿ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
^ĚŶŚĚ Ϳ
ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
tĂŶŐƐĂDƵũƵƌ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϳϮ͘ϱ ϭ Ϳ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Ϳ
ƉĂůŵŬĞƌŶĞů
WdŶĞŬĂ/ŶƟƉĞƌƐĂĚĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ
Ϳ
WdŶĞŬĂ^Ăǁŝƚ>ĞƐƚĂƌŝ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ WƌŽĚƵĐƟŽŶŽĨŽŝůƉĂůŵ
ƉůĂŶƟŶŐŵĂƚĞƌŝĂůƐ
WdŶƵŐĞƌĂŚ^ƵŵďĞƌŵĂŬŵƵƌ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ
WdƐƌŝĐŝƉƚĂ/ŶĚĂŚ /ŶĚŽŶĞƐŝĂ – ϵϬ͘Ϭ Ϯ Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
WdĂŚĂƌŝ'ĞŵďŝƌĂZŝĂ /ŶĚŽŶĞƐŝĂ – ϵϵ͘Ϭ Ϯ Ϳ
WdĞƌƐĂŵĂ^ĞũĂŚƚĞƌĂ^ĂŬƟ /ŶĚŽŶĞƐŝĂ – ϵϭ͘ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
WdŚƵŵŝƌĞŬƐĂEƵƐĂƐĞũĂƟ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
WdŝŶĂ^ĂŝŶƐĞŵĞƌůĂŶŐ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉĂůŵŬĞƌŶĞů

ANNUAL REPORT 2018 page 287

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
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^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
WdƵĚŝĚĂLJĂŐƌŽ>ĞƐƚĂƌŝ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵ
Wd'ŽůĚĞŶ,ŽƉĞEƵƐĂŶƚĂƌĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ WƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů
ƉƌŽĚƵĐƚƐ
Wd'ƵƚŚƌŝĞWĞĐĐŽŶŝŶĂ/ŶĚŽŶĞƐŝĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
Wd/ŶĚŽ^ƵŬƐĞƐ>ĞƐƚĂƌŝDĂŬŵƵƌ /ŶĚŽŶĞƐŝĂ – ϵϱ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨƌƵďďĞƌ
Wd/ŶĚŽƚƌƵďĂdĞŶŐĂŚ /ŶĚŽŶĞƐŝĂ – ϱϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
Wd<ĂƌƟŬĂ/ŶƟWĞƌŬĂƐĂ /ŶĚŽŶĞƐŝĂ – ϲϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
Wd<ƌŝĚĂƚĂŵĂ>ĂŶĐĂƌ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Wd>ĂĚĂŶŐƌƵŵƉƵŶ^ƵďƵƌĂďĂĚŝ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉĂůŵŬĞƌŶĞů
Wd>ĂŐƵŶĂDĂŶĚŝƌŝ /ŶĚŽŶĞƐŝĂ – ϴϴ͘ϲ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
Wd>ĂŚĂŶdĂŶŝ^ĂŬƟ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
Wd>ĂŶŐŐĞŶŐDƵĂƌĂŵĂŬŵƵƌ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Ϳ ƉĂůŵŬĞƌŶĞů
WdDŝŶĂŵĂƐ'ĞŵŝůĂŶŐ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
WdDŝƚƌĂƵƐƚƌĂů^ĞũĂŚƚĞƌĂ /ŶĚŽŶĞƐŝĂ – ϲϱ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
WdDƵĚĂWĞƌŬĂƐĂ^ĂŬƟ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
WdWĂĚĂŶŐWĂůŵĂWĞƌŵĂŝ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
WdWĂƌŝƉƵƌŶĂ^ǁĂŬĂƌƐĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Ϳ ƉĂůŵŬĞƌŶĞů
WdWĞƌŬĂƐĂ^ƵďƵƌ^ĂŬƟ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ WƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
WdWĞƌƵƐĂŚĂĂŶWĞƌŬĞďƵŶĂŶ/ŶĚƵƐƚƌŝ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵ
ĚĂŶEŝĂŐĂ^ƌŝ<ƵĂůĂ
Wd^ĂũĂŶŐ,ĞƵůĂŶŐ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
Wd^ĂŶĚŝŬĂEĂƚĂƉĂůŵĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Ϳ ƉĂůŵŬĞƌŶĞů

page 288 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
Wd^ŝŵĞŐƌŝŝŽ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ dƌĂĚŝŶŐŽĨĂŐƌŝĐƵůƚƵƌĂů
ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
Wd^ŝŵĞ/ŶĚŽŐƌŽ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
Wd^ƌŝƟũĂLJĂďĂĚŝƚĂŵĂ /ŶĚŽŶĞƐŝĂ – ϲϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
Wd^ǁĂĚĂLJĂŶĚŝŬĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ Ϳ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
WddĂŵĂĐŽ'ƌĂŚĂ<ƌŝĚĂ /ŶĚŽŶĞƐŝĂ – ϵϬ͘Ϭ Ϯ Ϳ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
Ϳ ƉĂůŵŬĞƌŶĞů
WddĞŐƵŚ^ĞŵƉƵƌŶĂ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů͕
ƉĂůŵŬĞƌŶĞůĂŶĚƉĂůŵ
kernel oil
WddŝŵďĂŶŐĞůŝ/ŶĚŽŶĞƐŝĂ /ŶĚŽŶĞƐŝĂ – ϰϴ͘ϵ Ϯ WƌŽĚƵĐƟŽŶŽĨŽŝůƉĂůŵƐĞĞĚƐ
ĂŶĚĐƵůƟǀĂƟŽŶŽĨƌƵďďĞƌ
WddƵŶŐŐĂůDŝƚƌĂWůĂŶƚĂƟŽŶƐ /ŶĚŽŶĞƐŝĂ – ϲϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝůĂŶĚ
ƉĂůŵŬĞƌŶĞů
EĞǁƌŝƚĂŝŶWůĂŶƚĂƟŽŶ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
^ĞƌǀŝĐĞƐWƚĞ>ƚĚ ŵĂŶĂŐĞŵĞŶƚŽĨŽŝůƉĂůŵ
ƉůĂŶƚĂƟŽŶĂŶĚƐĞĞĚ
ƉƌŽĚƵĐƟŽŶ
^ŝŵĞĂƌďLJĚŝďůĞWƌŽĚƵĐƚƐ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ DĂƌŬĞƟŶŐŽĨĞĚŝďůĞŽŝůƐ
ĂŶĚƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶƵƌŽƉĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ/ŶǀĞƐƚŵĞŶƚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;>ŝďĞƌŝĂͿWƌŝǀĂƚĞ>ŝŵŝƚĞĚ Ϳ
hůƚƌĂKůĞƵŵWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ Ϳ
sĞƌĚĂŶƚŝŽƐĐŝĞŶĐĞWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϱϮ͘Ϭ Ϯ ŐƌŝĐƵůƚƵƌĞƐĐŝĞŶĐĞĂŶĚ
research
^ŝŵĞĂƌďLJŚŝŶĂKŝůƐΘ&ĂƚƐ ,ŽŶŐ<ŽŶŐ – ϭϬϬ͘Ϭ Ϯ Ϳ
ŽŵƉĂŶLJ>ŝŵŝƚĞĚ Ϳ
^ŝŵĞĂƌďLJ,ŽŶŐ<ŽŶŐ ,ŽŶŐ<ŽŶŐ – ϭϬϬ͘Ϭ Ϯ Ϳ
Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
EŽŵŝŶĞĞƐ>ŝŵŝƚĞĚ
Ϳ
^ŝŵĞĂƌďLJ/ŶƚĞƌŶĂƟŽŶĂů ĂLJŵĂŶ – ϭϬϬ͘Ϭ ϰ
Ϳ
/ŶǀĞƐƚŵĞŶƚƐ>ŝŵŝƚĞĚ /ƐůĂŶĚƐ

ANNUAL REPORT 2018 page 289

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ ĂLJŵĂŶ – ϭϬϬ͘Ϭ ϰ Ϳ
 ,ŽůĚŝŶŐƐ;ƐŝĂWĂĐŝĮĐͿ /ƐůĂŶĚƐ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ,ŽůĚŝŶŐƐ ĂLJŵĂŶ – ϭϬϬ͘Ϭ ϰ Ϳ
;ĂLJŵĂŶ/ƐůĂŶĚƐͿ /ƐůĂŶĚƐ Ϳ
^ŝŵĞĂƌďLJĚŝďůĞWƌŽĚƵĐƚƐ/ŶĚŝĂ /ŶĚŝĂ – ϭϬϬ͘Ϭ Ϯ DĂƌŬĞƚƐƵƉƉŽƌƚƐĞƌǀŝĐĞƐ
WƌŝǀĂƚĞ>ŝŵŝƚĞĚ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ;>ŝďĞƌŝĂͿ/ŶĐ >ŝďĞƌŝĂ – ϭϬϬ͘Ϭ ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƌƵďďĞƌ
'ŽůĚĞŶ,ŽƉĞKǀĞƌƐĞĂƐĂƉŝƚĂů DĂƵƌŝƟƵƐ – ϭϬϬ͘Ϭ Ϯ Ϳ
DƵůůŝŐĂŶ/ŶƚĞƌŶĂƟŽŶĂůs EĞƚŚĞƌůĂŶĚƐ – ϭϬϬ͘Ϭ Ϯ Ϳ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJEĞƚŚĞƌůĂŶĚƐs EĞƚŚĞƌůĂŶĚƐ – ϭϬϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJhŶŝŵŝůůƐs EĞƚŚĞƌůĂŶĚƐ – ϭϬϬ͘Ϭ Ϯ WƌŽĐĞƐƐŝŶŐŽĨĞĚŝďůĞŽŝůĂŶĚ
ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
<ƵůĂWĂůŵKŝů>ŝŵŝƚĞĚ WĂƉƵĂEĞǁ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
'ƵŝŶĞĂ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů͕
ƉĂůŵŬĞƌŶĞůĂŶĚƉĂůŵ
kernel oil
EĞǁƌŝƚĂŝŶWĂůŵKŝů>ŝŵŝƚĞĚ WĂƉƵĂEĞǁ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕
'ƵŝŶĞĂ ĐƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů͕
ƉĂůŵŬĞƌŶĞůĂŶĚƉĂůŵ
kernel oil
WŽůŝĂŵďĂ>ŝŵŝƚĞĚ WĂƉƵĂEĞǁ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
'ƵŝŶĞĂ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů͕
ƉĂůŵŬĞƌŶĞůĂŶĚƉĂůŵ
kernel oil
ZĂŵƵŐƌŝͲ/ŶĚƵƐƚƌŝĞƐ>ŝŵŝƚĞĚ WĂƉƵĂEĞǁ – ϭϬϬ͘Ϭ Ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
'ƵŝŶĞĂ ƐƵŐĂƌĐĂŶĞ͕ƉƌŽĐĞƐƐŝŶŐŽĨ
ƉĂůŵŽŝů͕ƉĂůŵŬĞƌŶĞůŽŝů͕
ƐƵŐĂƌĂŶĚĞƚŚĂŶŽů͕ĐĂƩůĞ
ƌĞĂƌŝŶŐĂŶĚƉƌŽĐĞƐƐŝŶŐ
ŽĨďĞĞĨ

page 290 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
'ƵĂĚĂůĐĂŶĂůWůĂŝŶƐWĂůŵKŝů>ŝŵŝƚĞĚ ^ŽůŽŵŽŶ – ϴϬ͘Ϭ ϯ ƵůƟǀĂƟŽŶŽĨŽŝůƉĂůŵĂŶĚ
/ƐůĂŶĚ ƉƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů͕
ƉĂůŵŬĞƌŶĞůĂŶĚƉĂůŵ
kernel oil
^ŝŵĞĂƌďLJ,ƵĚƐŽŶŶĚ<ŶŝŐŚƚ ^ŽƵƚŚĨƌŝĐĂ – ϭϬϬ͘Ϭ ϯ WƌŽĐĞƐƐŝŶŐŽĨĞĚŝďůĞŽŝůĂŶĚ
;WƌŽƉƌŝĞƚĂƌLJͿ>ŝŵŝƚĞĚ ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
/ŶĚƵƐƚƌŝĂůŶƚĞƌƉƌŝƐĞƐŽ>ƚĚ dŚĂŝůĂŶĚ – ϵϵ͘ϵ Ϯ WƌŽĐĞƐƐŝŶŐŽĨƐŽLJĂďĞĂŶŽŝů
ĂŶĚƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
DŽƌĂŬŽƚ/ŶĚƵƐƚƌŝĞƐWƵďůŝĐŽŵƉĂŶLJ dŚĂŝůĂŶĚ – ϵϵ͘ϵ Ϯ WƌŽĐĞƐƐŝŶŐŽĨĞĚŝďůĞŽŝůĂŶĚ
>ŝŵŝƚĞĚ ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐĂŶĚ
ŵĂƌŬĞƟŶŐ
^ŝŵĞͲDŽƌĂŬŽƚ,ŽůĚŝŶŐƐdŚĂŝůĂŶĚ dŚĂŝůĂŶĚ – ϭϬϬ͘Ϭ Ϯ Ϳ
>ŝŵŝƚĞĚ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
dŚĞŚŝŶĂŶŐŝŶĞĞƌƐdŚĂŝůĂŶĚ dŚĂŝůĂŶĚ – ϵϵ͘ϵ Ϯ Ϳ
>ŝŵŝƚĞĚ Ϳ
EĞǁƌŝƚĂŝŶKŝůƐ>ŝŵŝƚĞĚ hŶŝƚĞĚ – ϭϬϬ͘Ϭ Ϯ Ϳ
<ŝŶŐĚŽŵ Ϳ WƌŽĐĞƐƐŝŶŐŽĨĞĚŝďůĞŽŝůĂŶĚ
'ŽůĚĞŶ,ŽƉĞͲEŚĂĞĚŝďůĞKŝůƐ sŝĞƚŶĂŵ – ϱϭ͘Ϭ Ϯ Ϳ ƌĞůĂƚĞĚƉƌŽĚƵĐƚƐ
Ž>ƚĚ Ϳ

WůĂŶƚĂƟŽŶʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
ŵĞƌLJKůĞŽĐŚĞŵŝĐĂůƐ;DͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϱϬ͘Ϭ ϯ WƌŽĚƵĐƟŽŶŽĨŽůĞŽĐŚĞŵŝĐĂůƐ
ŐƌŽƵƉ ĂŶĚĚĞƌŝǀĂƟǀĞƐ
ŵĞƌLJ^ƉĞĐŝĂůƚLJŚĞŵŝĐĂůƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϱϬ͘Ϭ ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
ŐƌŽƵƉ
DLJďŝŽŵĂƐƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϯϬ͘Ϭ ϯ ĞǀĞůŽƉŚŝŐŚǀĂůƵĞŐƌĞĞŶ
ĐŚĞŵŝĐĂůƐďŝŽͲƌĞĮŶĞƌLJ
^ŝŵĞĂƌďLJdE^ZĞŶĞǁĂďůĞŶĞƌŐLJ DĂůĂLJƐŝĂ – ϱϭ͘Ϭ+ ϭ WƌŽĚƵĐƟŽŶŽĨƌĞŶĞǁĂďůĞ
^ĚŶŚĚ ĞŶĞƌŐLJƵƐŝŶŐƉĂůŵŽŝů
ĞŋƵĞŶƚƐ
'ƵĂŶŐnjŚŽƵ<ĞLJůŝŶŬŚĞŵŝĐĂůƐ ŚŝŶĂ – ϰϵ͘Ϭ ϯ DĂŶƵĨĂĐƚƵƌŝŶŐŽĨƐƵƌĨĂĐĞ
Ž>ƚĚ ĂĐƟǀĞĂŐĞŶƚƐ
ZŝnjŚĂŽ^ŝŵĞĂƌďLJKŝůƐΘ&ĂƚƐ ŚŝŶĂ – ϰϱ͘Ϭ Ϯ ^ƚŽƌĂŐĞŽĨƉĂůŵŽŝůƌĞůĂƚĞĚ
Ž>ƚĚ ƉƌŽĚƵĐƚƐ

ANNUAL REPORT 2018 page 291

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WůĂŶƚĂƟŽŶʹƐƐŽĐŝĂƚĞƐ
ĂƌůŽǁƵůŬŝŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϯϮ͘Ϭ ϯ ƵůŬŝŶŐĂŶĚŵĂƌŬĞƟŶŐ
ĨĂĐŝůŝƟĞƐĨŽƌĞĚŝďůĞŽŝů
ƉƌŽĚƵĐĞƌƐĂŶĚŵŝůůĞƌƐ
EĞƐĐĂLJĂDĂůƵƌŝ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϰϬ͘Ϭ ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
ĂŶĚƋƵĂƌƌLJůŝĐĞŶƐŝŶŐ
DƵĂŶŐDĂŝ'ƵƚŚƌŝĞWƵďůŝĐŽ>ƚĚ dŚĂŝůĂŶĚ – ϰϵ͘Ϭ ϯ WƌŽĐĞƐƐŝŶŐŽĨƌƵďďĞƌ
dŚĂŝĂƐƚĞƌŶdƌĂƚŽ>ƚĚ dŚĂŝůĂŶĚ – ϰϬ͘Ϭ Ϯ WƌŽĐĞƐƐŝŶŐŽĨƉĂůŵŽŝů
ĂŶĚƉĂůŵŬĞƌŶĞů
sĞƌĚĞnjLJŶĞ/ŶĐ hŶŝƚĞĚ^ƚĂƚĞƐ – ϯϲ͘Ϭ ϯ WƌŽĚƵĐƟŽŶŽĨĚƌŽƉͲŝŶ
ŽĨŵĞƌŝĐĂ ĂůƚĞƌŶĂƟǀĞƐƚŽƉĞƚƌŽůĞƵŵͲ
ĚĞƌŝǀĞĚĐŚĞŵŝĐĂůƐĨƌŽŵ
ƉĂůŵͲďĂƐĞĚƉƌŽĚƵĐƚƐĂŶĚ
ďLJͲƉƌŽĚƵĐƚƐ

WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ
'ĞŶƟŶŐsŝĞǁZĞƐŽƌƚĞǀĞůŽƉŵĞŶƚ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
^ĚŶŚĚ ƉƌŽǀŝƐŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ
services
'ŽůĬŽŵĞĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
'ŽůŌĞŬĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
,ĂƌǀĂƌĚ'ŽůĨZĞƐŽƌƚ;:ĞƌĂŝͿĞƌŚĂĚ DĂůĂLJƐŝĂ – ϵϵ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨŐŽůĮŶŐĂŶĚ
ƐƉŽƌƟŶŐƐĞƌǀŝĐĞƐ
,ĂƌǀĂƌĚ,ŽƚĞů;:ĞƌĂŝͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ KƉĞƌĂƟŽŶŽĨĂŚŽƚĞů
/ŵƉŝĂŶ'ŽůĨZĞƐŽƌƚĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨŐŽůĮŶŐĂŶĚ
ƐƉŽƌƟŶŐƐĞƌǀŝĐĞƐ
/ƌŽŶǁŽŽĚĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
<ƵĂůĂ>ƵŵƉƵƌ'ŽůĨΘŽƵŶƚƌLJůƵď DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽǀŝƐŝŽŶŽĨŐŽůĮŶŐĂŶĚ
ĞƌŚĂĚ ƐƉŽƌƟŶŐƐĞƌǀŝĐĞƐĂŶĚ
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ

page 292 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
DĂůĂLJƐŝĂ>ĂŶĚĞǀĞůŽƉŵĞŶƚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
ŽŵƉĂŶLJĞƌŚĂĚ ŵĂŶĂŐĞŵĞŶƚĂŶĚ
ŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJŝŶƐĚĂůĞ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ
^ŝŵĞĂƌďLJŵƉĂƌdĞŶĂŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
^ŝŵĞĂƌďLJƌĂĂŵĂŶƐĂƌĂ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJƵŐƐďƵƌŐ;DͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚĂŵĂŶƐĂƌĂ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂŶĚĐŽŶƐƚƌƵĐƟŽŶ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚ,ŽůĚŝŶŐ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
^ĚŶŚĚ ŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚ<ĞŶŶLJ,ŝůůƐ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ĚŶŚĚ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚDŽƚŽƌǁŽƌůĚ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ĚŶŚĚ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚWƌŽƉĞƌƟĞƐ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
,ŽůĚŝŶŐ^ĚŶŚĚ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚZĞƐŽƌƚ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ĚŶŚĚ
^ŝŵĞĂƌďLJƵŝůĚĞƌƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
ĐŽŶƐƚƌƵĐƟŽŶ
^ŝŵĞĂƌďLJƵŝůĚŝŶŐDĂŶĂŐĞŵĞŶƚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
^ĞƌǀŝĐĞƐ^ĚŶŚĚ

ANNUAL REPORT 2018 page 293

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJŚĞŵĂƌĂ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
 ^ĚŶĞƌŚĂĚ Ϳ
WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJŽŶƐƚĂŶƚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
 ^ŬLJůŝŶĞ^ĚŶŚĚ Ϳ
^ŝŵĞĂƌďLJůŵŝŶĂ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJ'sZ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ZĞƐŽƌƚŵĂŶĂŐĞŵĞŶƚ
DĂŶĂŐĞŵĞŶƚ^ĚŶŚĚ
^ŝŵĞĂƌďLJ:ŽŚŽƌ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ Ϳ
^ŝŵĞĂƌďLJ<>' DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
Ϳ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ
^ŝŵĞĂƌďLJ<ƵůĂŝ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ Ϳ

^ŝŵĞĂƌďLJ>ĂŶĚƐĐĂƉŝŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ

WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
^ŝŵĞĂƌďLJ>ƵŬƵƚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ Ϳ
^ŝŵĞĂƌďLJDĞůĂǁĂƟ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂŶĚƉƌŽƉĞƌƚLJ
ŵĂŶĂŐĞŵĞŶƚ
^ŝŵĞĂƌďLJEŝůĂŝhƚĂŵĂ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϳϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWĂŐŽŚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWĂƌĂůŝŵŶŝ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƟĞƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
;^ĂďĂŚͿ^ĚŶŚĚ ŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJWƌŽƉĞƌƟĞƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
;^ĞůĂŶŐŽƌͿ^ĚŶŚĚ

page 294 SIME DARBY BERHAD

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJWƌŽƉĞƌƟĞƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ ŽŶƐƚƌƵĐƟŽŶ
ƵŝůĚĞƌƐ^ĚŶŚĚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƟĞƐZĞĂůƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
^ĚŶŚĚ ŵĂŶĂŐĞŵĞŶƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
;ƵŬŝƚ^ĞůĂƌŽŶŐͿ^ĚŶŚĚ Ϳ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
Ϳ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
;ƵŬŝƚdƵŶŬƵͿ^ĚŶŚĚ
Ϳ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ;<ůĂŶŐͿ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
Ϳ
^ĚŶŚĚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
;>ĞŵďĂŚĐŽďͿ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ;EŝůĂŝͿ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂŶĚƉƌŽƉĞƌƚLJ
ŵĂŶĂŐĞŵĞŶƚ
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^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕
;^ƵŶŐĂŝ<ĂƉĂƌͿ^ĚŶŚĚ ƉƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
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^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂŶĚƉƌŽǀŝƐŝŽŶŽĨ
ŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ,ŽůĚŝŶŐƐ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ
^ĚŶŚĚ Ϳ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ Ϳ ƉƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
DĂŶĂŐĞŵĞŶƚ^ĚŶŚĚ Ϳ

ANNUAL REPORT 2018 page 295

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
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ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ĞůĂƚĂŶ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ Ϳ
ƵĂ^ĚŶŚĚ Ϳ ŽŶƐƚƌƵĐƟŽŶĂŶĚĂƐƐĞƚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ĞůĂƚĂŶ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ Ϳ ŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ
ŵƉĂƚ^ĚŶŚĚ Ϳ ƵŶĚĞƌĐŽŶĐĞƐƐŝŽŶ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ĞůĂƚĂŶ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ Ϳ ĂƌƌĂŶŐĞŵĞŶƚ
^ĂƚƵ^ĚŶŚĚ Ϳ

^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ĞůĂƚĂŶ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ

^ĚŶŚĚ ĐŽŶƐƚƌƵĐƟŽŶ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ĞůĂƚĂŶ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ ŽŶƐƚƌƵĐƟŽŶĂŶĚĂƐƐĞƚ
dŝŐĂ^ĚŶŚĚ ŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ
ƵŶĚĞƌĐŽŶĐĞƐƐŝŽŶ
ĂƌƌĂŶŐĞŵĞŶƚ
^ŝŵĞĂƌďLJ^ĞƌĞŶŝĂ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJ^ƵŶŐĂŝ<ĂŶƚĂŶ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ ĂŶĚŵĂŶĂŐĞŵĞŶƚ
^ŝŵĞĂƌďLJhƌƵƐ,ĂƌƚĂ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
^ŝŵĞĂƌďLJh^:ĞǀĞůŽƉŵĞŶƚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
^ĚŶŚĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞ,ĞĂůƚŚĐĂƌĞ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
^ŝŵĞtŽŽĚ/ŶĚƵƐƚƌŝĞƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ƉƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
^ƚĂďůĞĨŽƌĚĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ  WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂŶĚŽƉĞƌĂƟŽŶŽĨĂ
ĐŽŶǀĞŶƟŽŶĐĞŶƚƌĞ
^ƵƉĞƌŐůĂĚĞ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϲϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
services
^LJĂƌŝŬĂƚWĞƌƵŵĂŚĂŶ'ƵƚŚƌŝĞ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ĚŶŚĚ
dŚĞ'ůĞŶŐŽǁƌŝĞZƵďďĞƌŽŵƉĂŶLJ DĂůĂLJƐŝĂ – ϵϯ͘ϰ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
^ĚŶĞƌŚĂĚ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
tŝƐŵĂ^ŝŵĞĂƌďLJ^ĚŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
ƉƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
ĂŶĚƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ

page 296 SIME DARBY BERHAD

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^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
ĂƌďLJWĂƌŬ;DĂŶĂŐĞŵĞŶƚͿWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ͕
ŵĂŶĂŐĞŵĞŶƚŽĨƐĞƌǀŝĐĞ
ĂƉĂƌƚŵĞŶƚƐĂŶĚ
ŝŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
ĂƌďLJWĂƌŬ;^ŝŶŐĂƉŽƌĞͿWƚĞ>ƚĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ŵĂŶĂŐĞŵĞŶƚŽĨƐĞƌǀŝĐĞ
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^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ;sŝĞƚŶĂŵͿ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
WƚĞ>ƚĚ ŵĂŶĂŐĞŵĞŶƚŽĨƐĞƌǀŝĐĞ
ƌĞƐŝĚĞŶĐĞƐ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ^ŝŶŐĂƉŽƌĞ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
>ŝŵŝƚĞĚ ƉƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
^ŝŵĞĂƌďLJZĞĂůƐƚĂƚĞ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJŵĂŶĂŐĞŵĞŶƚ
DĂŶĂŐĞŵĞŶƚWƚĞ>ƚĚ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ ,ŽŶŐ<ŽŶŐ – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ
K/DĂŶĂŐĞŵĞŶƚWƚLJ>ƚĚ Australia – ϲϬ͘Ϭ Ϯ ^ĞĐƵƌŝƚLJĂŶĚůĂŶĚĐĂƌĞ
services
^ŝŵĞĂƌďLJƵƐƚƌĂůŝĂ>ŝŵŝƚĞĚ Australia – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
ŵĂŶĂŐĞŵĞŶƚŽĨƐĞƌǀŝĐĞ
ĂƉĂƌƚŵĞŶƚƐ
^ŝŵĞĂƌďLJ,ŽƚĞůƐWƚLJ>ƚĚ Australia – ϭϬϬ͘Ϭ Ϯ KƉĞƌĂƟŽŶŽĨƐĞƌǀŝĐĞ
ĂƉĂƌƚŵĞŶƚƐ
^ŝŵĞĂƌďLJ/ŶǀĞƐƚŵĞŶƚƐWƚLJ>ŝŵŝƚĞĚ Australia – ϭϬϬ͘Ϭ Ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJZĞƐŽƌƚƐWƚLJ>ƚĚ Australia – ϭϬϬ͘Ϭ Ϯ DĂŶĂŐĞŵĞŶƚŽĨĂƌĞƐŽƌƚ
^ŝŵĞĂƌďLJ^ĞƌĞŶŝƚLJŽǀĞWƚLJ>ƚĚ Australia – ϲϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
<ĞLJĐĐĞƐƐ,ŽůĚŝŶŐƐ>ŝŵŝƚĞĚ ƌŝƟƐŚsŝƌŐŝŶ – ϭϬϬ͘Ϭ ϰ Ϳ
/ƐůĂŶĚƐ Ϳ
/ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚ ƌŝƟƐŚsŝƌŐŝŶ – ϲϬ͘Ϭ ϰ Ϳ
ƵƐƚƌĂůŝĂWƚĞ>ƚĚ /ƐůĂŶĚƐ Ϳ

ANNUAL REPORT 2018 page 297

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
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^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ WƌŝŶĐŝƉĂůĂĐƟǀŝƟĞƐ
WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
sŝďĞƌŶƵŵ>ŝŵŝƚĞĚ 'ƵĞƌŶƐĞLJ – ϭϬϬ͘Ϭ Ϯ Ϳ
^ŝŵĞĂƌďLJ>ŽŶĚŽŶ>ŝŵŝƚĞĚ hŶŝƚĞĚ – ϭϬϬ͘Ϭ Ϯ Ϳ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
<ŝŶŐĚŽŵ Ϳ
ĂƌďLJWĂƌŬ;sŝĞƚŶĂŵͿ>ŝŵŝƚĞĚ sŝĞƚŶĂŵ – ϲϱ͘Ϭ Ϯ KƉĞƌĂƟŽŶŽĨƐĞƌǀŝĐĞ
ƌĞƐŝĚĞŶĐĞƐ

WƌŽƉĞƌƚLJʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
W:DŝĚƚŽǁŶĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϯϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ŝŵĞĂƌďLJĂƉŝƚĂ>ĂŶĚ DĂůĂLJƐŝĂ – ϱϬ͘Ϭ ϯ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚ
;DĞůĂǁĂƟDĂůůͿ^ĚŶŚĚ
^ŝŵĞĂƌďLJ^ƵŶƌŝƐĞ DĂůĂLJƐŝĂ – ϱϬ͘Ϭ ϭ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ
^ŝŵĞĂƌďLJZĞĂůƐƚĂƚĞ ^ŝŶŐĂƉŽƌĞ – Ϯϱ͘Ϭ ϯ ZĞĂůĞƐƚĂƚĞŝŶǀĞƐƚŵĞŶƚ
/ŶǀĞƐƚŵĞŶƚdƌƵƐƚϭ
ĂƩĞƌƐĞĂWƌŽũĞĐƚ,ŽůĚŝŶŐ :ĞƌƐĞLJ – ϰϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ŽŵƉĂŶLJ>ŝŵŝƚĞĚŐƌŽƵƉ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
ĂƩĞƌƐĞĂWŽǁĞƌ^ƚĂƟŽŶ hŶŝƚĞĚ – ϰϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚĂŶĚ
ĞǀĞůŽƉŵĞŶƚŽŵƉĂŶLJ>ŝŵŝƚĞĚ <ŝŶŐĚŽŵ ŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ
ĂƩĞƌƐĞĂWŽǁĞƌ^ƚĂƟŽŶ hŶŝƚĞĚ – ϰϬ͘Ϭ Ϯ WƌŽƉĞƌƚLJƐĂůĞƐƐĞƌǀŝĐĞƐ
ƐƚĂƚĞƐ>ŝŵŝƚĞĚ <ŝŶŐĚŽŵ

WƌŽƉĞƌƚLJʹƐƐŽĐŝĂƚĞƐ
<ƵĂŶƚĂŶWĂŚĂŶŐ DĂůĂLJƐŝĂ – ϯϬ͘Ϭ ϭ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐĂŶĚ
,ŽůĚŝŶŐ^ĚŶŚĚŐƌŽƵƉ ƉƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
DŽƐƚLJŶĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϯϬ͘Ϭ ϯ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ĞƌŝĞŵĂƐĞǀĞůŽƉŵĞŶƚ DĂůĂLJƐŝĂ – ϰϬ͘Ϭ ϯ WƌŽƉĞƌƚLJĚĞǀĞůŽƉŵĞŶƚ
^ĚŶŚĚŐƌŽƵƉ ĂŶĚƉƌŽǀŝƐŝŽŶŽĨƌĞůĂƚĞĚ
ĐŽŶƐƵůƚĂŶĐLJƐĞƌǀŝĐĞƐ
^ŚĂǁƌŽƚŚĞƌƐ;DͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϯϲ͘Ϭ ϯ /ŶǀĞƐƚŵĞŶƚŚŽůĚŝŶŐ͕
ƉƌŽƉĞƌƚLJŝŶǀĞƐƚŵĞŶƚĂŶĚ
ƉƌŽǀŝƐŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ
services

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FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

 ^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĚŽƌŵĂŶƚͬŝŶĂĐƟǀĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐ
ĨŽůůŽǁƐ͗

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ
ĞƌĂǁĂŶ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶ:ĞƌĂŝ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶ>ŝŶŐŐŝ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶ^ƵĂĞƚŽŶŐ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶdĞďŽŶŐ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
<ƵŵƉƵůĂŶdĞŵŝĂŶŐ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ĂŚƵĂŶƚĞƌƉƌŝƐĞ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJĞǀĞƌĂŐĞƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJƵŬŝƚdĂůĂŶŐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJKŝůƐΘ&ĂƚƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJWůĂŶƚĂƟŽŶ;WĞŶŝŶƐƵůĂƌͿ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
Wd'ƵƚŚƌŝĞďĚŝŶƵƐĂ/ŶĚƵƐƚƌŝ /ŶĚŽŶĞƐŝĂ – ϳϬ͘Ϭ Ϯ
Wd^ŝŵĞĂƌďLJŽŵŵŽĚŝƟĞƐdƌĂĚŝŶŐ /ŶĚŽŶĞƐŝĂ – ϭϬϬ͘Ϭ Ϯ
<ǁĂŶŐ:ŽŽ^ĞŶŐ;DĂůĂLJƐŝĂͿWƌŝǀĂƚĞ>ŝŵŝƚĞĚ ^ŝŶŐĂƉŽƌĞ – ϭϬϬ͘Ϭ Ϯ
ŽŶŐŐƵĂŶ^ŝŵĞĂƌďLJ^ŝŶŽŐƌĂŝŶKŝůƐĂŶĚ&ĂƚƐŽ>ƚĚ ŚŝŶĂ – ϲϱ͘Ϭ Ϯ
ĂŵŝƵƐƚƌĂůŝĂWƚLJ>ƚĚ Australia – ϭϬϬ͘Ϭ Ϯ
'ŽůĚĞŶ,ŽƉĞʹEŚĂďĞ;ĂŵďŽĚŝĂͿ/ŵƉŽƌƚΘdžƉŽƌƚŽ>ƚĚ ĂŵďŽĚŝĂ – ϱϭ͘Ϭ ϰ
^ŝŵĞĂƌďLJůĞĂŶĞƌ's EĞƚŚĞƌůĂŶĚƐ – ϭϬϬ͘Ϭ Ϯ
^ŝŵĞĂƌďLJKŝůƐƵƌŽƉĞs EĞƚŚĞƌůĂŶĚƐ – ϭϬϬ͘Ϭ Ϯ
;ĨŽƌŵĞƌůLJŬŶŽǁŶĂƐ^ŝŵĞĂƌďLJŽŵŵŽĚŝƟĞƐƵƌŽƉĞsͿ
dƌŽůĂŬƐƚĂƚĞƐ>ŝŵŝƚĞĚ ^ĐŽƚůĂŶĚ – ϭϬϬ͘Ϭ ϯ
^ŝŵĞĂƌďLJĚŝďůĞWƌŽĚƵĐƚƐdĂŶnjĂŶŝĂ>ŝŵŝƚĞĚ dĂŶnjĂŶŝĂ – ϭϬϬ͘Ϭ ϰ
ƵƐƵŶƵƌŝĂŶWůĂŶƚĂƟŽŶƐ>ŝŵŝƚĞĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
<ŝŶƚĂ<ĞůůĂƐZƵďďĞƌƐƚĂƚĞƐWůĐ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
DĂůĂLJƐŝĂŶƐƚĂƚĞƐWůĐ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
dŚĞ<ƵĂůĂ^ĞůĂŶŐŽƌZƵďďĞƌWůĐ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ

ANNUAL REPORT 2018 page 299

 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

 ^ƵďƐŝĚŝĂƌŝĞƐ͕ũŽŝŶƚǀĞŶƚƵƌĞƐĂŶĚĂƐƐŽĐŝĂƚĞƐǁŚŝĐŚĂƌĞĚŽƌŵĂŶƚͬŝŶĂĐƟǀĞƵŶĚĞƌĚŝƐĐŽŶƟŶƵĞĚŽƉĞƌĂƟŽŶĂƐĂƚϯϬ:ƵŶĞϮϬϭϳĂƌĞĂƐ
ĨŽůůŽǁƐ͗;ĐŽŶƟŶƵĞĚͿ

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ
WůĂŶƚĂƟŽŶʹ^ƵďƐŝĚŝĂƌŝĞƐ;ĐŽŶƟŶƵĞĚͿ
dŚĞ>ŽŶĚŽŶƐŝĂƟĐZƵďďĞƌĂŶĚWƌŽĚƵĐĞŽŵƉĂŶLJ>ŝŵŝƚĞĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
dŚĞWĂƚĂůŝŶŐZƵďďĞƌƐƚĂƚĞƐ>ŝŵŝƚĞĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
dŚĞ^ƚƌĂŝƚƐWůĂŶƚĂƟŽŶƐ>ŝŵŝƚĞĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ
dŚĞ^ƵŶŐĞŝĂŚƌƵZƵďďĞƌƐƚĂƚĞƐWůĐ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ ϯ

WƌŽƉĞƌƚLJʹ^ƵďƐŝĚŝĂƌŝĞƐ
Dss,ŽůĚŝŶŐƐ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚWƌŽƉĞƌƚLJ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϳϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJWƌŽƉĞƌƚLJ;h^:Ϳ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
^ŝŵĞĂƌďLJWƵƚƌĂ,ĞŝŐŚƚƐĞǀĞůŽƉŵĞŶƚ^ĚŶŚĚ DĂůĂLJƐŝĂ – ϭϬϬ͘Ϭ ϭ
ZŽďƚƌĂĚĨŽƌĚΘŽ>ƚĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϭϬϬ͘Ϭ Ϯ
ZŽďƚƌĂĚĨŽƌĚ,ŽďďƐ^Ăǀŝůů>ƚĚ hŶŝƚĞĚ<ŝŶŐĚŽŵ – ϵϴ͘ϲ Ϯ

WƌŽƉĞƌƚLJʹ:ŽŝŶƚǀĞŶƚƵƌĞƐ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚWƌŽƉĞƌƟĞƐƵƐƚƌĂůŝĂWƚLJ>ƚĚ Australia – ϱϬ͘Ϭ ϰ
^ŝŵĞĂƌďLJƌƵŶƐĮĞůĚ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ ƌŝƟƐŚsŝƌŐŝŶ – ϱϬ͘Ϭ ϰ
/ƐůĂŶĚƐ

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 NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2018
Amounts in RM million unless otherwise stated

ϱϲ >/^dK&^h^//Z/^͕:K/EdsEdhZ^E^^K/d^ΈKEd/EhΉ

^ƵďƐŝĚŝĂƌŝĞƐƉůĂĐĞĚƵŶĚĞƌŵĞŵďĞƌƐ͛ǀŽůƵŶƚĂƌLJůŝƋƵŝĚĂƟŽŶͬĚĞƌĞŐŝƐƚĞƌĞĚĚƵƌŝŶŐƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĂƌĞĂƐĨŽůůŽǁƐ͗

'ƌŽƵƉ͛ƐĞīĞĐƟǀĞ
ŽƵŶƚƌLJŽĨ ŝŶƚĞƌĞƐƚ;йͿ
EĂŵĞŽĨĐŽŵƉĂŶLJ ŝŶĐŽƌƉŽƌĂƟŽŶ 2018 2017 ƵĚŝƚŽƌƐ
DŽƚŽƌƐʹ^ƵďƐŝĚŝĂƌŝĞƐ
^ŝŵĞĂƌďLJWƌĞƐƟŐĞDŽƚŽƌƐŽŵƉĂŶLJ>ŝŵŝƚĞĚ ,ŽŶŐ<ŽŶŐ – ϭϬϬ͘Ϭ Ϯ

EŽƚĞƐ͗
ϭ ͲĂƵĚŝƚĞĚďLJWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ͕DĂůĂLJƐŝĂ
Ϯ ͲĂƵĚŝƚĞĚďLJŵĞŵďĞƌĮƌŵƐŽĨWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ͕ǁŚŝĐŚĂƌĞƐĞƉĂƌĂƚĞĂŶĚŝŶĚĞƉĞŶĚĞŶƚůĞŐĂů
 ĞŶƟƟĞƐĨƌŽŵWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ͕DĂůĂLJƐŝĂ
ϯ ͲĂƵĚŝƚĞĚďLJĮƌŵƐŽƚŚĞƌƚŚĂŶŵĞŵďĞƌĮƌŵƐŽĨWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ/ŶƚĞƌŶĂƟŽŶĂů>ŝŵŝƚĞĚ
ϰ ͲŶŽůĞŐĂůƌĞƋƵŝƌĞŵĞŶƚƚŽĂƉƉŽŝŶƚĂƵĚŝƚŽƌƐ
н ͲŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐƚŚĞ'ƌŽƵƉŚŽůĚƐŵŽƌĞƚŚĂŶϱϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶƚŚĞƐĞĐŽŵƉĂŶŝĞƐ͕ƚŚĞŝŶǀĞƐƚŵĞŶƚŝƐĐůĂƐƐŝĮĞĚĂƐũŽŝŶƚ
 ǀĞŶƚƵƌĞ;ĂŶĚŶŽƚƐƵďƐŝĚŝĂƌLJͿĂƐƐŝŐŶŝĮĐĂŶƚĚĞĐŝƐŝŽŶƐƌĞƋƵŝƌĞƵŶĂŶŝŵŽƵƐĐŽŶƐĞŶƚĨƌŽŵĂůůŝƚƐƐŚĂƌĞŚŽůĚĞƌƐ
Ύ ͲŶŽƚǁŝƚŚƐƚĂŶĚŝŶŐƚŚĞ'ƌŽƵƉŚŽůĚƐŵŽƌĞƚŚĂŶϮϬйĞƋƵŝƚLJŝŶƚĞƌĞƐƚŝŶDtDĂůĂLJƐŝĂ^ĚŶŚĚ͕ƚŚĞŝŶǀĞƐƚŵĞŶƚŝƐĐůĂƐƐŝĮĞĚ
 ĂƐĂǀĂŝůĂďůĞͲĨŽƌͲƐĂůĞŝŶǀĞƐƚŵĞŶƚ;ĂŶĚŶŽƚĂƐƐŽĐŝĂƚĞͿĚƵĞƚŽƚŚĞ'ƌŽƵƉ͛ƐƌĞƐƚƌŝĐƚĞĚŝŶŇƵĞŶĐĞƉƵƌƐƵĂŶƚƚŽƚŚĞƐŚĂƌĞŚŽůĚĞƌƐ͛
 ĂŐƌĞĞŵĞŶƚ
Λ ͲzĂLJĂƐĂŶ^ŝŵĞĂƌďLJŝƐĂĐŽŵƉĂŶLJǁŝƚŚŽƵƚƐŚĂƌĞĐĂƉŝƚĂů͕ůŝŵŝƚĞĚďLJŐƵĂƌĂŶƚĞĞ

57 APPROVAL OF FINANCIAL STATEMENTS

dŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŚĂǀĞďĞĞŶĂƉƉƌŽǀĞĚĨŽƌŝƐƐƵĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚĂƌĞƐŽůƵƟŽŶŽĨƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽŶ
Ϯϱ^ĞƉƚĞŵďĞƌϮϬϭϴ͘

ANNUAL REPORT 2018 page 301

SIME DARBY BERHAD
A N N UA L R E P O R T 2018

APPENDICES
Notice of Annual General Meeting
and Other Matters
dŚĞdǁĞůŌŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐŽĨ
^ŝŵĞĂƌďLJĞƌŚĂĚǁŝůůďĞŚĞůĚĂƚƚŚĞ
'ƌĂŶĚĂůůƌŽŽŵ͕&ŝƌƐƚ&ůŽŽƌ͕^ŝŵĞĂƌďLJ
ŽŶǀĞŶƟŽŶĞŶƚƌĞ͕ϭ͕:ĂůĂŶƵŬŝƚ
<ŝĂƌĂϭ͕ϲϬϬϬϬ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ
ŽŶdŚƵƌƐĚĂLJ͕ϭϱEŽǀĞŵďĞƌϮϬϭϴĂƚ
ϭϬ͘ϬϬĂ͘ŵ͘

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ŽƌƉŽƌĂƚĞ/ŶĨŽƌŵĂƟŽŶ EŽƟĐĞƚŽWƌŽdžŝĞƐhŶĚĞƌƚŚĞ
WĞƌƐŽŶĂůĂƚĂWƌŽƚĞĐƟŽŶ
ĐƚϮϬϭϬ

Page 303 Page 320

Analysis of Shareholdings EŽƟƐ<ĞƉĂĚĂWƌŽŬƐŝŝ
ĂǁĂŚŬƚĂWĞƌůŝŶĚƵŶŐĂŶ
ĂƚĂWĞƌŝďĂĚŝϮϬϭϬ

Page 306 Page 322

WƌŽƉĞƌƟĞƐŽĨƚŚĞ'ƌŽƵƉ Independent Assurance
Report

Page 314 Page 324

EŽƟĐĞƚŽ^ŚĂƌĞŚŽůĚĞƌƐ EŽƟĐĞŽĨŶŶƵĂů'ĞŶĞƌĂů
hŶĚĞƌdŚĞWĞƌƐŽŶĂůĂƚĂ DĞĞƟŶŐ
WƌŽƚĞĐƟŽŶĐƚϮϬϭϬ

Page 316 &ŽƌŵŽĨWƌŽdžLJ

EŽƟƐ<ĞƉĂĚĂWĞŵĞŐĂŶŐ
Saham Di Bawah Akta
WĞƌůŝŶĚƵŶŐĂŶĂƚĂWĞƌŝďĂĚŝ
ϮϬϭϬ
 CORPORATE
INFORMATION
AS AT 28 SEPTEMBER 2018
ϣ TAN SRI DATO’ SRI DR WAN ABDUL
AZIZ WAN ABDULLAH
EŽŶͲ/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞ
ŚĂŝƌŵĂŶ
Ϥ TAN SRI SAMSUDIN OSMAN
EŽŶͲ/ŶĚĞƉĞŶĚĞŶƚ
EŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
ϥ DATO SRI LIM HAW KUANG
^ĞŶŝŽƌ/ŶĚĞƉĞŶĚĞŶƚ
EŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
Ϧ DATUK WAN SELAMAH
WAN SULAIMAN
/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
GROUP CHIEF EXECUTIVE OFFICER
:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ
'ZKhW^ZdZz
EŽŽƌŝƚĂ,ĂƐƐĂŶ
;D/ϣϧϢϩϥͿ
REGISTERED OFFICE
>ĞǀĞůϫ͕DĞŶĂƌĂ^ŝŵĞĂƌďLJ
KĂƐŝƐŽƌƉŽƌĂƚĞWĂƌŬ
:ĂůĂŶW:hϣͬϤ͕ƌĂĂŵĂŶƐĂƌĂ
ϦϩϥϢϣWĞƚĂůŝŶŐ:ĂLJĂ
^ĞůĂŶŐŽƌĂƌƵůŚƐĂŶ͕DĂůĂLJƐŝĂ
dĞůĞƉŚŽŶĞ ͗;ϨϢϥͿϩϨϤϥϤϢϢϢ
&ĂĐƐŝŵŝůĞ ͗;ϨϢϥͿϩϨϤϥϤϣϢϢ
ŵĂŝů ͗ĐŽŵŵƵŶŝĐĂƟŽŶƐΛƐŝŵĞĚĂƌďLJ͘ĐŽŵ
tĞďƐŝƚĞ ͗ǁǁǁ͘ƐŝŵĞĚĂƌďLJ͘ĐŽŵ
AUDITORS
WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐW>d
;>>WϢϢϣϦϦϢϣͲ>Θ&ϣϣϦϨͿ
ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ
>ĞǀĞůϣϢ͕ϣ^ĞŶƚƌĂů͕:ĂůĂŶZĂŬLJĂƚ
<ƵĂůĂ>ƵŵƉƵƌ^ĞŶƚƌĂů
ϧϢϩϢϨ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ
dĞůĞƉŚŽŶĞ ͗;ϨϢϥͿϤϣϩϥϣϣϪϪ
&ĂĐƐŝŵŝůĞ ͗;ϨϢϥͿϤϣϩϥϣϤϪϪ
page 302
BOARD OF DIRECTORS
ϧ DATIN PADUKA KARTINI ϫ d,zWZE^E'ZW/>>/
HJ. ABDUL MANAF /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
EŽŶͲ/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
Ϩ TAN SRI DATO’ MOHAMED ϣϢ DATO’ LAWRENCE LEE CHEOW HOCK
DEz,z EŽŶͲ/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
ϩ dK͛^Z/h>,D/z ϣϣ DKzWh/z
ABDUL HAFIZ /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ
Ϫ DATO’ AHMAD PARDAS SENIN ϣϤ JEFFRI SALIM DAVIDSON
/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌ džĞĐƵƟǀĞŝƌĞĐƚŽƌ
SHARE REGISTRAR STOCK EXCHANGE LISTING
dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ >ŝƐƚĞĚŽŶƚŚĞDĂŝŶDĂƌŬĞƚŽĨ
^ĚŶŚĚ ƵƌƐĂDĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚƐŝŶĐĞ
;ŽŵƉĂŶLJEŽ͘ϣϣϥϤϦͲ,Ϳ ϥϢEŽǀĞŵďĞƌϤϢϢϩ
KĸĐĞ͗ ^ƚŽĐŬŽĚĞ ͗Ϧϣϫϩ
hŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ ^ƚŽĐŬEĂŵĞ ͗^/D
sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ PLACE OF INCORPORATION AND
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ DOMICILE
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ DĂůĂLJƐŝĂ
dĞůĞƉŚŽŶĞ ͗;ϨϢϥͿϤϩϪϥϫϤϫϫ &KZDK&>'>Ed/dz
&ĂĐƐŝŵŝůĞ ͗;ϨϢϥͿϤϩϪϥϫϤϤϤ /ŶĐŽƌƉŽƌĂƚĞĚŽŶϩEŽǀĞŵďĞƌϤϢϢϨĂƐĂ
ŵĂŝů ͗ŝƐ͘ĞŶƋƵŝƌLJΛŵLJ͘ƚƌŝĐŽƌŐůŽďĂů͘ĐŽŵ ƉƌŝǀĂƚĞĐŽŵƉĂŶLJůŝŵŝƚĞĚďLJƐŚĂƌĞƐƵŶĚĞƌ
ƚŚĞŽŵƉĂŶŝĞƐĐƚ͕ϣϫϨϧĂŶĚĚĞĞŵĞĚ
ƵƐƚŽŵĞƌ^ĞƌǀŝĐĞĞŶƚƌĞ͗ ƌĞŐŝƐƚĞƌĞĚƵŶĚĞƌƚŚĞŽŵƉĂŶŝĞƐĐƚϤϢϣϨ͘
hŶŝƚ'Ͳϥ͕'ƌŽƵŶĚ&ůŽŽƌ͕sĞƌƟĐĂůWŽĚŝƵŵ ŽŶǀĞƌƚĞĚŝŶƚŽĂƉƵďůŝĐĐŽŵƉĂŶLJůŝŵŝƚĞĚďLJ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ ƐŚĂƌĞƐŽŶϧƉƌŝůϤϢϢϩ
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ
SIME DARBY BERHAD
ANALYSIS OF
SHAREHOLDINGS
AS AT 7 SEPTEMBER 2018

^ŚĂƌĞĂƉŝƚĂůĂŶĚEƵŵďĞƌŽĨ/ƐƐƵĞĚ^ŚĂƌĞƐ ͗ZDϯ͕ϰϬϬ͕ϰϭϵ͕ϲϴϴ͘ϱϬĐŽŵƉƌŝƐŝŶŐϲ͕ϴϬϬ͕ϴϯϵ͕ϯϳϳŽƌĚŝŶĂƌLJƐŚĂƌĞƐ
ůĂƐƐŽĨ^ŚĂƌĞƐ ͗KƌĚŝŶĂƌLJƐŚĂƌĞƐ
sŽƟŶŐZŝŐŚƚƐ ͗KŶĞǀŽƚĞƉĞƌŽƌĚŝŶĂƌLJƐŚĂƌĞŝŶƚŚĞĐĂƐĞŽĨĂƉŽůůĂŶĚŽŶĞǀŽƚĞƉĞƌƉĞƌƐŽŶŽŶĂƐŚŽǁŽĨŚĂŶĚ

E>z^/^K&^,Z,K>/E'^

EŽ͘ŽĨ йŽĨ EŽ͘ŽĨ йŽĨ/ƐƐƵĞĚ

^ŝnjĞŽĨ^ŚĂƌĞŚŽůĚŝŶŐƐ ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞƐ,ĞůĚ ^ŚĂƌĞƐ

>ĞƐƐƚŚĂŶϭϬϬ Ϯ͕ϲϵϬ ϴ͘ϳϵ ϳϬ͕ϴϰϳ Ϭ͘ϬϬ

ϭϬϬƚŽϭ͕ϬϬϬ ϳ͕ϱϭϭ Ϯϰ͘ϱϱ ϰ͕ϲϵϯ͕ϰϭϮ Ϭ͘Ϭϳ

ϭ͕ϬϬϭƚŽϭϬ͕ϬϬϬ ϭϱ͕ϭϳϳ ϰϵ͘ϲϭ ϱϮ͕ϳϭϲ͕ϯϵϬ Ϭ͘ϳϴ

ϭϬ͕ϬϬϭƚŽϭϬϬ͕ϬϬϬ ϯ͕ϵϱϱ ϭϮ͘ϵϯ ϭϭϬ͕ϴϬϳ͕Ϯϯϳ ϭ͘ϲϯ

ϭϬϬ͕ϬϬϭƚŽůĞƐƐƚŚĂŶϱйŽĨŝƐƐƵĞĚĐĂƉŝƚĂů ϭ͕Ϯϱϳ ϰ͘ϭϭ Ϯ͕ϰϴϱ͕ϯϱϭ͕Ϭϱϴ ϯϲ͘ϱϰ

ϱйĂŶĚĂďŽǀĞŽĨŝƐƐƵĞĚĐĂƉŝƚĂů ϰ Ϭ͘Ϭϭ ϰ͕ϭϰϳ͕ϮϬϬ͕ϰϯϯ ϲϬ͘ϵϴ

Total 30,594 100.00 6,800,839,377 100.00

EŽ͘ŽĨ йŽĨ EŽ͘ŽĨ йŽĨ/ƐƐƵĞĚ

ůĂƐƐŝĮĐĂƟŽŶŽĨ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞƐ,ĞůĚ ^ŚĂƌĞƐ

/ŶĚŝǀŝĚƵĂůƐ Ϯϰ͕ϰϳϯ ϳϵ͘ϵϵ ϭϱϯ͕ϬϮϬ͕ϱϲϭ Ϯ͘Ϯϱ

ĂŶŬƐͬ&ŝŶĂŶĐĞŽŵƉĂŶŝĞƐ ϭϬϭ Ϭ͘ϯϯ ϰ͕Ϭϰϭ͕ϭϴϱ͕ϲϯϱ ϱϵ͘ϰϮ

/ŶǀĞƐƚŵĞŶƚdƌƵƐƚƐͬ&ŽƵŶĚĂƟŽŶƐͬŚĂƌŝƟĞƐ ϭϵ Ϭ͘Ϭϲ ϭ͕ϲϳϵ͕ϵϯϳ Ϭ͘Ϭϯ

/ŶĚƵƐƚƌŝĂůĂŶĚŽŵŵĞƌĐŝĂůŽŵƉĂŶŝĞƐ ϱϵϳ ϭ͘ϵϱ ϴϴ͕ϲϱϲ͕ϰϮϰ ϭ͘ϯϬ

'ŽǀĞƌŶŵĞŶƚŐĞŶĐŝĞƐͬ/ŶƐƟƚƵƟŽŶƐ ϳ Ϭ͘ϬϮ ϰ͕ϲϰϰ͕ϵϱϮ Ϭ͘Ϭϳ

EŽŵŝŶĞĞƐ ϱ͕ϯϵϱ ϭϳ͘ϲϰ Ϯ͕ϱϭϭ͕ϱϰϲ͕ϱϵϯ ϯϲ͘ϵϯ

Others Ϯ Ϭ͘Ϭϭ ϭϬϱ͕Ϯϳϱ Ϭ͘ϬϬ

Total 30,594 100.00 6,800,839,377 100.00

ŝƌĞĐƚŽƌƐ͛ŝƌĞĐƚĂŶĚ/ŶĚŝƌĞĐƚ/ŶƚĞƌĞƐƚƐŝŶƚŚĞŽŵƉĂŶLJĂŶĚŝƚƐZĞůĂƚĞĚŽƌƉŽƌĂƟŽŶƐ
EŽŶĞŽĨƚŚĞŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJŚĂƐĂŶLJŝŶƚĞƌĞƐƚ͕ĚŝƌĞĐƚŽƌŝŶĚŝƌĞĐƚ͕ŝŶƐŚĂƌĞƐŝŶƚŚĞŽŵƉĂŶLJŽƌŝŶƐŚĂƌĞƐ͕ĚĞďĞŶƚƵƌĞƐŽƌƉĂƌƟĐŝƉĂƚŽƌLJ
ŝŶƚĞƌĞƐƚŵĂĚĞĂǀĂŝůĂďůĞďLJĂƌĞůĂƚĞĚĐŽƌƉŽƌĂƟŽŶ͘

ANNUAL REPORT 2018 page 303

 30 LARGEST SHAREHOLDERS AS PER THE RECORD OF DEPOSITORS

EŽ͘ŽĨ йŽĨ/ƐƐƵĞĚ
No. EĂŵĞŽĨ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞƐ,ĞůĚ ^ŚĂƌĞƐ

ϭ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ Ϯ͕ϳϴϵ͕ϰϭϱ͕ϯϬϬ ϰϭ͘ϬϮ

ŵĂŶĂŚ^ĂŚĂŵƵŵŝƉƵƚĞƌĂ

Ϯ͘ ŝƟŐƌŽƵƉEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϲϬϴ͕ϲϱϭ͕ϬϭϬ ϴ͘ϵϱ

ŵƉůŽLJĞĞƐWƌŽǀŝĚĞŶƚ&ƵŶĚŽĂƌĚ

ϯ͘ WĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚ ϯϴϴ͕ϲϯϲ͕ϯϳϰ ϱ͘ϳϭ

ϰ͘ <ƵŵƉƵůĂŶtĂŶŐWĞƌƐĂƌĂĂŶ;ŝƉĞƌďĂĚĂŶŬĂŶͿ ϯϲϬ͕ϰϵϳ͕ϳϰϵ ϱ͘ϯϬ

ϱ͘ ĂƌƚĂďĂŶEŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϭϯϬ͕ϯϬϭ͕ϳϰϭ ϭ͘ϵϮ

'/WƌŝǀĂƚĞ>ŝŵŝƚĞĚĨŽƌ'ŽǀĞƌŶŵĞŶƚŽĨ^ŝŶŐĂƉŽƌĞ;Ϳ

ϲ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϵϬ͕Ϭϱϵ͕ϯϬϬ ϭ͘ϯϮ

ŵĂŶĂŚ^ĂŚĂŵDĂůĂLJƐŝĂ

ϳ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϳϰ͕ϱϬϬ͕ϬϬϬ ϭ͘ϭϬ

ŵĂŶĂŚ^ĂŚĂŵtĂǁĂƐĂŶϮϬϮϬ

ϴ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϲϰ͕ϳϯϲ͕ϭϬϬ Ϭ͘ϵϱ

^ϭDĂůĂLJƐŝĂ

ϵ͘ DĂůĂLJƐŝĂEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĞŶĚŝƌŝĂŶĞƌŚĂĚ ϲϬ͕ϵϮϱ͕ϴϰϵ Ϭ͘ϵϬ

'ƌĞĂƚĂƐƚĞƌŶ>ŝĨĞƐƐƵƌĂŶĐĞ;DĂůĂLJƐŝĂͿĞƌŚĂĚ;WZϭͿ

ϭϬ͘ ĂƌƚĂďĂŶEŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϱϳ͕ϴϱϭ͕ϵϮϮ Ϭ͘ϴϱ

džĞŵƉƚEĨŽƌ^ƚĂƚĞ^ƚƌĞĞƚĂŶŬΘdƌƵƐƚŽŵƉĂŶLJ;tĞƐƚ>dKϲϳͿ

ϭϭ͘ ,^EŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϱϱ͕ϭϭϮ͕Ϭϯϲ Ϭ͘ϴϭ

:WDEĨŽƌsĂŶŐƵĂƌĚŵĞƌŐŝŶŐDĂƌŬĞƚƐ^ƚŽĐŬ/ŶĚĞdž&ƵŶĚ

ϭϮ͘ ,^EŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϱϰ͕ϴϰϭ͕ϵϭϳ Ϭ͘ϴϭ

:WDEĨŽƌsĂŶŐƵĂƌĚdŽƚĂů/ŶƚĞƌŶĂƟŽŶĂů^ƚŽĐŬ/ŶĚĞdž&ƵŶĚ

ϭϯ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϱϬ͕ϬϬϬ͕ϬϬϬ Ϭ͘ϳϰ

ŵĂŶĂŚ^ĂŚĂŵƵŵŝƉƵƚĞƌĂϮ

ϭϰ͘ ĂƌƚĂďĂŶEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϰϰ͕ϲϲϭ͕ϱϮϳ Ϭ͘ϲϲ

WDĨŽƌWƌƵůŝŶŬƋƵŝƚLJ&ƵŶĚ

ϭϱ͘ DĂLJďĂŶŬEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϰϰ͕Ϭϱϳ͕ϱϬϯ Ϭ͘ϲϱ

DdƌƵƐƚĞĞĞƌŚĂĚĨŽƌ/D/ƐůĂŵŝĐĂůŝƋƵŝƚLJ'ƌŽǁƚŚ&ƵŶĚ;hdͲ/DͲ>/Ϳ;ϰϭϵϰϱϱͿ

ϭϲ͘ DĂLJďĂŶŬEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϯϳ͕ϱϬϬ͕ϬϬϬ Ϭ͘ϱϱ

DĂLJďĂŶŬdƌƵƐƚĞĞƐĞƌŚĂĚĨŽƌWƵďůŝĐ/ƫŬĂů&ƵŶĚ;EϭϰϬϭϭϵϳϬϮϰϬͿ

ϭϳ͘ ĂƌƚĂďĂŶEŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϯϮ͕ϭϳϵ͕ϴϮϯ Ϭ͘ϰϳ

'/WƌŝǀĂƚĞ>ŝŵŝƚĞĚĨŽƌDŽŶĞƚĂƌLJƵƚŚŽƌŝƚLJŽĨ^ŝŶŐĂƉŽƌĞ;,Ϳ

ϭϴ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ Ϯϵ͕Ϭϳϱ͕ϰϲϯ Ϭ͘ϰϯ

WƵďůŝĐ/ƐůĂŵŝĐŝǀŝĚĞŶĚ&ƵŶĚ

ϭϵ͘ sĂůƵĞW^ĚŶŚĚ Ϯϳ͕ϵϴϳ͕ϯϬϬ Ϭ͘ϰϭ

page 304 SIME DARBY BERHAD

30 LARGEST SHAREHOLDERS AS PER THE RECORD OF DEPOSITORS (CONTINUED)

EŽ͘ŽĨ йŽĨ/ƐƐƵĞĚ
No. EĂŵĞŽĨ^ŚĂƌĞŚŽůĚĞƌƐ ^ŚĂƌĞƐ,ĞůĚ ^ŚĂƌĞƐ

ϮϬ͘ DĂLJďĂŶŬ^ĞĐƵƌŝƟĞƐEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ Ϯϱ͕ϬϬϬ͕ϬϬϬ Ϭ͘ϯϳ

DĂůĂLJĂŶĂŶŬŝŶŐĞƌŚĂĚĨŽƌ>ĞŵďĂŐĂ<ĞŵĂũƵĂŶdĂŶĂŚWĞƌƐĞŬƵƚƵĂŶ
;&>ϮͿ

Ϯϭ͘ ŝƟŐƌŽƵƉEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ Ϯϯ͕ϯϱϳ͕ϱϬϳ Ϭ͘ϯϰ

džĞŵƉƚEĨŽƌ/ŚĚ

ϮϮ͘ ,^EŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ Ϯϯ͕ϭϭϮ͕ϴϬϬ Ϭ͘ϯϰ

,^Ͳ&^ĨŽƌDĂĐƋƵĂƌŝĞƐŝĂEĞǁ^ƚĂƌƐ&ƵŶĚ

Ϯϯ͘ ŝƟŐƌŽƵƉEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϮϮ͕ϳϯϮ͕ϴϬϬ Ϭ͘ϯϯ

ŵƉůŽLJĞĞWƌŽǀŝĚĞŶƚ&ƵŶĚŽĂƌĚ;/DWZ/EͿ

Ϯϰ͘ DĂLJďĂŶŬEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϮϮ͕ϲϭϯ͕ϯϭϲ Ϭ͘ϯϯ

DĂLJďĂŶŬdƌƵƐƚĞĞƐĞƌŚĂĚĨŽƌWƵďůŝĐZĞŐƵůĂƌ^ĂǀŝŶŐƐ&ƵŶĚ;EϭϰϬϭϭϵϰϬϭϬϬͿ

Ϯϱ͘ ĂƌƚĂďĂŶEŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϭϵ͕ϰϮϮ͕ϵϬϬ Ϭ͘Ϯϵ

Z/ŶǀĞƌƐƚŽƌ^ĞƌǀŝĐĞƐĂŶŬ^͘ĨŽƌDĂĐƋƵĂƌŝĞƐŝĂEĞǁ^ƚĂƌƐĨƵŶĚ
;DĂĐƋƵĂƌŝĞ&^Ϳ

Ϯϲ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϭϴ͕ϭϱϮ͕ϱϮϵ Ϭ͘Ϯϳ

WƵďůŝĐ/ƐůĂŵŝĐƋƵŝƚLJ&ƵŶĚ

Ϯϳ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϭϳ͕ϯϬϭ͕ϳϬϰ Ϭ͘Ϯϱ

WƵďůŝĐ/ƐůĂŵŝĐ^ĞůĞĐƚŶƚĞƌƉƌŝƐĞƐ&ƵŶĚ

Ϯϴ͘ ŝƟŐƌŽƵƉEŽŵŝŶĞĞƐ;dĞŵƉĂƚĂŶͿ^ĚŶŚĚ ϭϳ͕ϮϮϰ͕ϯϬϬ Ϭ͘Ϯϱ

ŵƉůŽLJĞĞƐWƌŽǀŝĚĞŶƚ&ƵŶĚŽĂƌĚ;EKDhZͿ

Ϯϵ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ ϭϳ͕Ϯϭϰ͕ϯϴϳ Ϭ͘Ϯϱ

WƵďůŝĐ/ƫŬĂů^ĞƋƵĞů&ƵŶĚ

ϯϬ͘ ŝƟŐƌŽƵƉEŽŵŝŶĞĞƐ;ƐŝŶŐͿ^ĚŶŚĚ ϭϲ͕ϰϱϭ͕ϰϲϬ Ϭ͘Ϯϰ

>ĞŐĂůΘ'ĞŶĞƌĂůƐƐƵƌĂŶĐĞ;WĞŶƐŝŽŶƐDĂŶĂŐĞŵĞŶƚͿ>ŝŵŝƚĞĚ;ͬϭϭϮϱϮϱϬϬϬϭͿ

SUBSTANTIAL SHAREHOLDERS AS PER THE REGISTER OF SUBSTANTIAL SHAREHOLDERS

EŽ͘ŽĨ^ŚĂƌĞƐ
EŽ͘ŽĨ^ŚĂƌĞƐ,ĞůĚ йŽĨ ,ĞůĚ;/ŶĚŝƌĞĐƚͬ йŽĨ
No. EĂŵĞŽĨ^ƵďƐƚĂŶƟĂů^ŚĂƌĞŚŽůĚĞƌ ;ŝƌĞĐƚ/ŶƚĞƌĞƐƚͿ /ƐƐƵĞĚĂƉŝƚĂů ĞĞŵĞĚ/ŶƚĞƌĞƐƚͿ /ƐƐƵĞĚ^ŚĂƌĞƐ

ϭ͘ ŵĂŶĂŚZĂLJĂdƌƵƐƚĞĞƐĞƌŚĂĚ
ͲŵĂŶĂŚ^ĂŚĂŵƵŵŝƉƵƚĞƌĂ Ϯ͕ϳϴϲ͕ϲϵϯ͕ϬϬϬ ϰϬ͘ϵϴ - -

Ϯ͘ ŵƉůŽLJĞĞƐWƌŽǀŝĚĞŶƚ&ƵŶĚŽĂƌĚ ϲϬϮ͕ϳϱϯ͕ϳϭϬ ϴ͘ϴϲ ϴϯ͕Ϭϲϰ͕ϱϬϬ ϭ͘ϮϮ

ϯ͘ WĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚ ϯϴϴ͕ϲϯϲ͕ϯϳϰ ϱ͘ϳϮ - -

ϰ͘ zĂLJĂƐĂŶWĞůĂďƵƌĂŶƵŵŝƉƵƚƌĂϭ - - ϯϴϴ͕ϲϯϲ͕ϯϳϰ ϱ͘ϳϮ

ϱ͘ <ƵŵƉƵůĂŶtĂŶŐWĞƌƐĂƌĂĂŶ
;ŝƉĞƌďĂĚĂŶŬĂŶͿ ϯϲϴ͕ϳϳϯ͕ϴϰϵ ϱ͘ϰϮ ϰϳ͕ϮϬϵ͕ϴϬϬ Ϭ͘ϲϵ

EŽƚĞ͗
ϭ
 ĞĞŵĞĚŝŶƚĞƌĞƐƚďLJǀŝƌƚƵĞŽĨŝƚƐŝŶƚĞƌĞƐƚŝŶWĞƌŵŽĚĂůĂŶEĂƐŝŽŶĂůĞƌŚĂĚƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶϴ;ϰͿŽĨƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲ͘

ANNUAL REPORT 2018 page 305

 PROPERTIES
OF THE GROUP

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

INDUSTRIAL

DĂůĂLJƐŝĂ

:ĂůĂŶ>ĂŚĂƚ͕ƵŬŝƚ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϯ ϭϵϴϮͲϭϵϵϲ ϯϴ ^ŝŶŐůĞƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ ϭ

DĞƌĂŚ͕/ƉŽŚ ϮϬϯϲͲϮϬϱϲ ĨĂĐƚŽƌLJ͕ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ

^ĞŵĂŵďƵ/ŶĚƵƐƚƌŝĂů >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϯ ϭϵϴϮ ϯϴ ϮďůŽĐŬƐŽĨƐŝŶŐůĞͲƐƚŽƌĞLJŽĸĐĞ ϯ

ƐƚĂƚĞ͕<ƵĂŶƚĂŶ ϮϬϰϭ ďƵŝůĚŝŶŐǁŝƚŚĚĞƚĂĐŚĞĚĨĂĐƚŽƌLJ͕
ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ

<ŽŵƉůĞŬƐ &ƌĞĞŚŽůĚ ϭϰ ϭϵϵϯ ϮϬ >ĂŶĚ͕ϱͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ ϱϰ

<ĞũƵƌƵƚĞƌĂĂŶ͕:ĂůĂŶ ƚƌĂŝŶŝŶŐĐĞŶƚƌĞ͕ǁŽƌŬƐŚŽƉĂŶĚ
WƵĐŚŽŶŐ͕dĂŵĂŶ ǁĂƌĞŚŽƵƐĞ
WĞƌŝŶĚƵƐƚƌŝĂŶWƵĐŚŽŶŐ
hƚĂŵĂ͕WƵĐŚŽŶŐ

:ĂůĂŶϮϮϱ͕WĞƚĂůŝŶŐ:ĂLJĂ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϴϯ ϯϲ /ŶĚƵƐƚƌŝĂůůĂŶĚĂŶĚďƵŝůĚŝŶŐ ϭ

ϮϬϴϬ

:ĂůĂŶ^ŬƵĚĂŝ͕:ŽŚŽƌ >ĞĂƐĞŚŽůĚϮϬϮϰ * ϮϬϭϰ ϱ ϮͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ ^

ĂŚƌƵ ǁĂƌĞŚŽƵƐĞĂŶĚǁŽƌŬƐŚŽƉ

dƵĂƌĂŶZŽĂĚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϭϵϴϮ ϯϴ ϮͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ ^

<ŽƚĂ<ŝŶĂďĂůƵ ϮϬϮϱ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ

:ĂůĂŶWŝĂƐĂƵ͕Dŝƌŝ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϰ ϭϵϴϮͲϭϵϴϲ ϭϴͲϯϴ KĸĐĞďƵŝůĚŝŶŐƐĚĞƚĂĐŚĞĚ ϲ

<ŝĚƵƌŽŶŐ>ŝŐŚƚ/ŶĚƵƐƚƌŝĂů ϮϬϮϴͲϮϬϲϬ ǁŝƚŚĨĂĐƚŽƌLJ͕ǁŽƌŬƐŚŽƉĂŶĚ
ƐƚĂƚĞ͕ŝŶƚƵůƵ͕ ǁĂƌĞŚŽƵƐĞ
>ŽƌŽŶŐdŚĞŶ<ƵŶŐ^ƵŬ͕
^ŝďƵ

KǀĞƌƐĞĂƐ

Singapore

ĞŶŽŝ^ĞĐƚŽƌ͕:ƵƌŽŶŐWŝĞƌ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϵ ϭϵϳϴͲϮϬϬϰ ϭϬͲϰϳ tĂƌĞŚŽƵƐĞ͕ǁŽƌŬƐŚŽƉƐĂŶĚ ϭ

ϮϬϮϱͲϮϬϯϮ ŽĸĐĞďƵŝůĚŝŶŐ

page 306 SIME DARBY BERHAD

WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

/Eh^dZ/>;ĐŽŶƟŶƵĞĚͿ

KǀĞƌƐĞĂƐ;ĐŽŶƟŶƵĞĚͿ

Brunei

Ğƌŝďŝ/ŶĚƵƐƚƌŝĂů >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϮϬϬϯ ϭϱ KĸĐĞ͕ƐĞƌǀŝĐĞĐĞŶƚƌĞĂŶĚ ^

ƐƚĂƚĞ͕ĂŶĚĂƌ^Ğƌŝ ϮϬϭϵ ǁĂƌĞŚŽƵƐĞ
ĞŐĂǁĂŶ

ŚŝŶĂ

ŚĂŶŐƐŚĂĐŽŶŽŵŝĐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϮϬϭϯͲϮϬϭϲ Ϯ /ŶĚƵƐƚƌŝĂůůĂŶĚ ϮϮ

dĞĐŚŶŽůŽŐŝĐĂů ϮϬϲϯ
ĞǀĞůŽƉŵĞŶƚƌĞĂ͕
ŚĂŶŐƐŚĂ͕,ƵŶĂŶ

:ŝDĞŝŝƐƚƌŝĐƚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϮϬϭϮͲϮϬϭϱ ϰ >ĂŶĚ͕ϯͲƐƚŽƌĞLJŽĸĐĞ ϭϱ

yŝĂŵĞŶ͕&ƵũŝĂŶ ϮϬϲϮ ďƵŝůĚŝŶŐƐ͕ǁĂƌĞŚŽƵƐĞ
ĂŶĚǁŽƌŬƐŚŽƉ

yŝĂŽ>ĂŶ/ŶĚƵƐƚƌŝĂůWĂƌŬ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϮϬϬϵͲϮϬϭϭ ϳ ϯͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ ϲ

EĂŶĐŚĂŶŐ͕:ŝĂŶŐdžŝ ϮϬϱϵ ǁĂƌĞŚŽƵƐĞ
ĂŶĚǁŽƌŬƐŚŽƉ

EĂŶŶŝŶŐ͕'ƵĂŶŐdžŝ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϯ ϮϬϭϰ – /ŶĚƵƐƚƌŝĂůůĂŶĚ ϳ

ϮϬϲϰ

^ŚƵŶũŝĂŶŐ:ƵǁĞŝŚƵŝ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϭϵϵϲͲϮϬϭϭ ϳͲϮϭ >ĂŶĚ͕ϮďůŽĐŬƐŽĨϰͲƐƚŽƌĞLJ ϭϮ

/ŶĚƵƐƚƌŝĂůWĂƌŬ͕^ŚƵŶĚĞ͕ ϮϬϰϱ ĂŶĚϮͲƐƚŽƌĞLJďƵŝůĚŝŶŐƐ͕
&ŽƐŚĂŶ͕'ƵĂŶŐĚŽŶŐ ǁĂƌĞŚŽƵƐĞĂŶĚǁŽƌŬƐŚŽƉƐ

zŝĨƵ'ĂƌĚĞŶ͕ŽŶŐŐƵĂŶ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϮϬϭϰ ϱ ^ƚĂīƋƵĂƌƚĞƌƐ ϭ

'ƵĂŶŐĚŽŶŐ ϮϬϳϮ

hƌƵŵƋŝĐŽŶŽŵŝĐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϰ ϮϬϭϬͲϮϬϭϮ ϲ >ĂŶĚŚĞůĚĨŽƌŽĸĐĞďƵŝůĚŝŶŐ͕ Ϯϳ

ΘdĞĐŚŶŽůŽŐŝĐĂů ϮϬϲϬ ǁĂƌĞŚŽƵƐĞĂŶĚǁŽƌŬƐŚŽƉ
ĞǀĞůŽƉŵĞŶƚŽŶĞ͕
hƌƵŵƋŝ͕yŝŶũŝĂŶŐ

Hong Kong

zƵĞŶ>ŽŶŐ/ŶĚƵƐƚƌŝĂů >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϭϵϵϯͲϭϵϵϱ – >ĂŶĚĨŽƌϮͲƐƚŽƌĞLJŽĸĐĞ ϳ

ƐƚĂƚĞ͕zƵĞŶ>ŽŶŐŝƐƚƌŝĐƚ ϮϬϰϳ ďƵŝůĚŝŶŐ͕ǁĂƌĞŚŽƵƐĞ
ĂŶĚǁŽƌŬƐŚŽƉ

ANNUAL REPORT 2018 page 307

 WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

/Eh^dZ/>;ĐŽŶƟŶƵĞĚͿ

KǀĞƌƐĞĂƐ;ĐŽŶƟŶƵĞĚͿ

ƵƐƚƌĂůŝĂ

ůŝĐĞ^ƉƌŝŶŐƐ&ĂĐŝůŝƚLJ &ƌĞĞŚŽůĚ ϴ ϭϵϵϮͲϮϬϭϭ ϭϰͲϱϭ ^ŝŶŐůĞͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ Ϯϴ

ĂŶĚĂƌǁŝŶ&ĂĐŝůŝƚLJ ǁĂƌĞŚŽƵƐĞĂŶĚǁŽƌŬƐŚŽƉƐ

'ŽǀĞ&ĂĐŝůŝƚLJ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϲ ϮϬϬϲ ϭϮ ^ŝŶŐůĞͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ ^

dƌĂĞŐĞƌůŽƐĞ ϮϬϱϯ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ

ƌĐŚĞƌĮĞůĚ&ĂĐŝůŝƚLJ͕<ĞƌƌLJ &ƌĞĞŚŽůĚ ϮϮ ϭϵϵϮͲϮϬϭϮ ϯͲϳϮ ^ŝŶŐůĞͲƐƚŽƌĞLJĂŶĚϮͲƐƚŽƌĞLJ ϳϯ

ZŽĂĚ͕ƌĐŚĞƌĮĞůĚ͕ĞůůƌŝĐŬ ĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕
^ƚƌĞĞƚ͕ĞĂƵĚĞƐĞƌƚZŽĂĚ͕ ǁĂƌĞŚŽƵƐĞƐĂŶĚǁŽƌŬƐŚŽƉƐ
ĐĂĐŝĂZŝĚŐĞ͕ƌŝƐďĂŶĞ

ŽƵŶĚĂƌLJZŽĂĚ͕ &ƌĞĞŚŽůĚ ϭ ϮϬϭϬ ϴ >ĂŶĚ͕ϮďůŽĐŬƐŽĨϮͲƐƚŽƌĞLJĂŶĚ ϭϳ

ZŝĐŚůĂŶĚƐ͕ƌŝƐďĂŶĞ ƐŝŶŐůĞͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐƐ͕
ǁĂƌĞŚŽƵƐĞĂŶĚǁŽƌŬƐŚŽƉ

ĂŝƌŶƐ&ĂĐŝůŝƚLJ͕ &ƌĞĞŚŽůĚ ϭ ϭϵϵϮͲϮϬϬϴ ϯϴ ^ŝŶŐůĞͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ ϭϲ

<ĞŶŶLJ^ƚƌĞĞƚ͕ŽŵƉŽƌƚ^ƚ͕ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ
WŽƌƚƐŵŝƚŚ͕ĂŝƌŶƐ WĞƌƉĞƚƵĂůůĞĂƐĞ *

ŵĞƌĂůĚ&ĂĐŝůŝƚLJ͕ &ƌĞĞŚŽůĚ ϭϯ ϭϵϵϮͲϮϬϭϯ ϰͲϰϰ ^ŝŶŐůĞͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ ϭϬ

ƌĐŚĞƌƌŝǀĞ͕ůƐƚŽŶŝĂ ǁŽƌŬƐŚŽƉƐĂŶĚƐƚĂīŚŽƐƚĞůƐ
ƌŝǀĞ͕ƵĐŬůĂŶĚ^ƚƌĞĞƚ

DĂĐŬĂLJ&ĂĐŝůŝƚLJ͕ &ƌĞĞŚŽůĚ ϰϯ ϭϵϵϮͲϮϬϭϯ ϭͲϯϲ ϮͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞƐ͕ ϯϲϰ

&ĂƌƌĞůůLJƐ>ĂŶĞ͕ŽŶŶŽƌƐ ƚƌĂŝŶŝŶŐĨĂĐŝůŝƟĞƐ͕ǁŽƌŬƐŚŽƉƐ
ZŽĂĚ͕ƌŽĂĚƐŽƵŶĚZŽĂĚ͕ WĞƌƉĞƚƵĂůůĞĂƐĞ ϯ ĂŶĚǁĂƌĞŚŽƵƐĞƐ
ŽŵŵĞƌĐŝĂůǀĞŶƵĞ͕
DĂĐŬĂLJ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ
ϮϬϭϴ

Dƚ/ƐĂ&ĂĐŝůŝƚLJ͕ &ƌĞĞŚŽůĚ ϱ ϭϵϵϮͲϮϬϭϭ ϰϬ ^ŝŶŐůĞͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ Ϯϰ

<ŽůŽŶŐŽƌĞƐĐĞŶƚ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ
<ĂůŬĂĚŽŽŶ͕Dƚ/ƐĂ

ZŽĐŬŚĂŵƉƚŽŶ &ƌĞĞŚŽůĚ ϯϱ ϭϵϵϮ ϯͲϰϰ ϭϯďůŽĐŬƐŽĨƐŝŶŐůĞͲƐƚŽƌĞLJ ϭϭϰ

&ĂĐŝůŝƚLJ͕WŽƌƚƵƌƟƐ ĐŽŵŵĞƌĐŝĂůŽĸĐĞ͕ǁŽƌŬƐŚŽƉ͕
ZŽĂĚ͕ZŝĐŚĂƌĚƐŽŶZŽĂĚ͕ ǁĂƌĞŚŽƵƐĞĂŶĚƚƌĂŝŶŝŶŐĨĂĐŝůŝƚLJ
ZŽĐŬŚĂŵƉƚŽŶ

page 308 SIME DARBY BERHAD

WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

/Eh^dZ/>;ĐŽŶƟŶƵĞĚͿ

KǀĞƌƐĞĂƐ;ĐŽŶƟŶƵĞĚͿ

ƵƐƚƌĂůŝĂ;ĐŽŶƟŶƵĞĚͿ

KƌĂLJĂ^ƚƌĞĞƚ͕<ĂůŐŽŽƌůŝĞ &ƌĞĞŚŽůĚ * ϮϬϭϭ Ϯϳ ŽŵŵĞƌĐŝĂůŽĸĐĞ͕ǁŽƌŬƐŚŽƉĂŶĚ Ϯ

ǁĂƌĞŚŽƵƐĞ

dŽŽǁŽŽŵďĂ&ĂĐŝůŝƚLJ͕ &ƌĞĞŚŽůĚ ϱ ϭϵϵϮͲϮϬϭϮ ϭϴͲϰϲ ^ŝŶŐůĞͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞƐ͕ ϱϬ

ĂƌƌŝŶŐƚŽŶZŽĂĚ͕ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ
dŽƌƌŝŶŐƚŽŶ

dŽǁŶƐǀŝůůĞ&ĂĐŝůŝƚLJ͕ŽƌŶĞƌ &ƌĞĞŚŽůĚ Ϯ ϭϵϵϮ ϰϰ ϮͲƐƚŽƌĞLJĐŽŵŵĞƌĐŝĂůŽĸĐĞƐ͕ Ϯϱ

tŽŽůĐŽĐŬ^ƚƌĞĞƚĂŶĚ ǁŽƌŬƐŚŽƉĂŶĚǁĂƌĞŚŽƵƐĞ
ůĂŬĞLJ^ƚƌĞĞƚ͕'ĂƌďƵƩ͕
dŽǁŶƐǀŝůůĞ

New Caledonia

WĂŝƚĂ͕EĞƉŽƵŝ͕<ŽƵŵĂĐ͕ &ƌĞĞŚŽůĚ ϰ ϮϬϬϬͲϮϬϭϮ ϳͲϮϰ ŽŵŵĞƌĐŝĂůŽĸĐĞ͕ ϳϲ

<ŽƵĂŽƵĂ͕<ŽŶĞ͕EŽƵŵĞĂ ǁŽƌŬƐŚŽƉ͕ǁĂƌĞŚŽƵƐĞĂŶĚ
ƌĞƐŝĚĞŶƟĂůĚǁĞůůŝŶŐ

Papua New Guinea

WŽƌƚDŽƌĞƐďLJ͕ WĞƌƉĞƚƵĂůůĞĂƐĞ * ϭϵϵϮͲϮϬϭϳ ϮϮͲϲϲ >ĂŶĚ͕ϮͲƐƚŽƌĞLJĂŶĚƐŝŶŐůĞͲƐƚŽƌĞLJ Ϯϱ

>ŝŚŝƌ/ƐůĂŶĚ͕ ŽĸĐĞďƵŝůĚŝŶŐƐ͕ƐĂůĞƐƐĞƌǀŝĐĞĂŶĚ
dĂďƵďŝů͕>ĂĞ͕ ƉĂƌƚƐĨĂĐŝůŝƚLJ͕ĂŶĚƐƚĂīŚŽƐƚĞůƐ
ZĂďĂƵů >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭϴ
ϮϬϭϴͲϮϬϵϰ

^ŽůŽŵŽŶ/ƐůĂŶĚƐ

,ŽŶŝĂƌĂ&ĂĐŝůŝƚLJ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϯ ϭϵϵϮ ϯϰ KĸĐĞ͕ŝŶĚƵƐƚƌŝĂůďƵŝůĚŝŶŐ͕ ^

'ƵĂĚĂůĐĂŶĂů/ƐůĂŶĚ͕ ϮϬϵϭ ǁĂƌĞŚŽƵƐĞĂŶĚϮͲƐƚŽƌĞLJƐƚĂī
,ŽŶŝĂƌĂ hostels

/ŶĚƵƐƚƌŝĂůWƌŽƉĞƌƟĞƐ 987

ANNUAL REPORT 2018 page 309

 WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

MOTORS

DĂůĂLJƐŝĂ

WĂĚĂŶŐDĞŚĂ͕<Ƶůŝŵ &ƌĞĞŚŽůĚ ϳϴ ϮϬϬϰ Ϯϭ ƐƐĞŵďůLJƉůĂŶƚ ϭϬϲ

ƵƚŽŵŽƟǀĞŽŵƉůĞdž͕ &ƌĞĞŚŽůĚ ϵ ϮϬϭϰͲϮϬϭϱ – KĸĐĞďƵŝůĚŝŶŐ ϰϬϴ

ƌĂĂŵĂŶƐĂƌĂ ĂŶĚƐŚŽǁƌŽŽŵƵŶĚĞƌ
ĐŽŶƐƚƌƵĐƟŽŶ

dĞŵĂƐLJĂ/ŶĚƵƐƚƌŝĂůWĂƌŬ͕ &ƌĞĞŚŽůĚ * ϮϬϬϰͲϮϬϬϲ ϭϱͲϭϳ ϯͲƐƚŽƌĞLJŽĸĐĞ ϭϱ

^ŚĂŚůĂŵ ďƵŝůĚŝŶŐĂŶĚƐŚŽǁƌŽŽŵ͕ϯͲƐƚŽƌĞLJ
ƐĞŵŝĚĞƚĂĐŚĞĚůŝŐŚƚŝŶĚƵƐƚƌŝĂů
ŽĸĐĞďƵŝůĚŝŶŐĂŶĚƐŚŽǁƌŽŽŵ

ĂŶĚĂƌƵŬŝƚZĂũĂ͕<ĂƉĂƌ͕ &ƌĞĞŚŽůĚ ϰ ϮϬϬϴ – >ĂŶĚŚĞůĚĨŽƌĚĞǀĞůŽƉŵĞŶƚŽĨĂ ϵ

<ůĂŶŐ ƉƌĞͲĚĞůŝǀĞƌLJŝŶƐƉĞĐƟŽŶĐĞŶƚƌĞ

ϭϵϯʹϭϵϱ͕:ĂůĂŶ<ůĂŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϮϬϭϱ ϰ ϮͲƐƚŽƌĞLJŽĸĐĞďƵŝůĚŝŶŐ͕ ϲ

>ĂŵĂ ϮϬϮϲ ƐŚŽǁƌŽŽŵĂŶĚǁŽƌŬƐŚŽƉ

ϯϲϮ͕:ĂůĂŶdƵŶZĂnjĂŬ &ƌĞĞŚŽůĚ * ϮϬϭϬ ϭϭ ϰͲƐƚŽƌĞLJϰ^ƐĞƌǀŝĐĞĐĞŶƚƌĞĂŶĚ ϰϵ

ǁŽƌŬƐŚŽƉ

<ĂũĂŶŐ͕ĂůĂŬŽŶŐ &ƌĞĞŚŽůĚ * ϮϬϭϴ – >ĂŶĚĨŽƌĚĞǀĞůŽƉŵĞŶƚŽĨĂ ϯϳ

ϰ^ĐĞŶƚƌĞ
>ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ *
Ϯϭϭϲ

^ĞĚĐŽ/ŶĚƵƐƚƌŝĂů >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϮϬϬϯ ϭϱ ^ŝŶŐůĞͲƐƚŽƌĞLJ ϭ

ƐƚĂƚĞ͕:ĂůĂŶ>ŝŵĂƵ ϮϬϯϰ ƐŚŽǁƌŽŽŵĂŶĚƐĞƌǀŝĐĞĐĞŶƚƌĞ
DĂŶŝƐ͕<ŽƚĂ<ŝŶĂďĂůƵ

KǀĞƌƐĞĂƐ

Singapore

ůĞdžĂŶĚƌĂZŽĂĚ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϵ ϮϬϬϮͲϮϬϬϱ ϭϬͲϭϮ ϲͲƐƚŽƌĞLJϰ^ƐŚŽǁƌŽŽŵ͕ƐĞƌǀŝĐĞ ϮϮϭ

ϮϬϰϳͲϮϬϱϳ ĐĞŶƚƌĞĂŶĚǁŽƌŬƐŚŽƉ

<ĂŵƉƵŶŐƌĂŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϴϮ ϰϵ ϮͲƐƚŽƌĞLJƐĞƌǀŝĐĞĐĞŶƚƌĞĂŶĚ ϭϬ

ZŽĂĚ ϮϬϯϰ ǁŽƌŬƐŚŽƉ

hďŝZŽĂĚϰ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϵϳ Ϯϲ ϰͲƐƚŽƌĞLJϯ^ƐŚŽǁƌŽŽŵƐ͕ŽĸĐĞƐ͕ ϲ

ϮϬϮϬ ƉƌĞͲĚĞůŝǀĞƌLJŝŶƐƉĞĐƟŽŶĐĞŶƚƌĞ
ĂŶĚǁŽƌŬƐŚŽƉ

page 310 SIME DARBY BERHAD

WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

DKdKZ^;ĐŽŶƟŶƵĞĚͿ

KǀĞƌƐĞĂƐ;ĐŽŶƟŶƵĞĚͿ

dŚĂŝůĂŶĚ

ŶƵĂƐǁĂƌĞĞ͕ŚĂƌĂŶ &ƌĞĞŚŽůĚ ϭ ϮϬϬϮͲϮϬϭϲ ϮͲϭϴ ϯ^ƐŚŽǁƌŽŽŵƐ͕ǁŽƌŬƐŚŽƉƐ ϲϱ

^ĂŶŝƚtŽŶŐZŽĂĚ͕ ĂŶĚŽĸĐĞƐ
ŚĂƌŽĞŶEĂŬŚŽŶZŽĂĚ͕
>ĂĚŬƌĂďĂŶŐZŽĂĚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϴ
DŝŶďƵƌŝ͕WĂƌĂĚŝƐĞZŽĂĚ͕ ϮϬϭϴͲϮϬϯϰ
WŚĞƚŬĂƐĞŵZŽĂĚ͕
^ĂƉŚĂŶƐŽŽŶŐ͕^ƌŝŶĂŬĂƌŝŶ
ZŽĂĚ͕^ƵŬƐĂǁĂƚZŽĂĚ

ŚŝŶĂ

:ŝŶŬĂŝǀĞŶƵĞ͕ŚŽŶŐƋŝŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϮϬϭϲ ϯ ϱͲƐƚŽƌĞLJϱ^ĐĞŶƚƌĞ ϰϬ

ϮϬϯϭ

zŝŶŐďŝŶZŽĂĚ͕WĂŶLJƵ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϯ ϭϵϵϵͲϮϬϭϱ ϯͲϮϬ ϮͲƐƚŽƌĞLJĂŶĚϰͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ Ϯϯ

ĂŐƵĂŶŐEĂŶZŽĂĚ͕ ϮϬϮϯͲϮϬϯϮ
dŝĂŶŚĞ͕'ƵĂŶŐnjŚŽƵ͕
'ƵĂŶŐĚŽŶŐ

,ĂŝzƵŚŽŶŐyŝĂŶZŽĂĚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϮϬϬϬͲϮϬϬϰ ϭϮͲϮϯ ϮͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ ϭϳ

EĂŶŚĂŝZŽĂĚ͕,ĂŝŬŽƵ͕ ϮϬϱϵͲϮϬϳϬ
,ĂŝŶĂŶ

dŝĂŶƐŚĂŶZŽĂĚ͕^ŚĂŶƚŽƵ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϮϬϬϮ ϭϰ ϮͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ ϯ

'ƵĂŶŐĚŽŶŐ ϮϬϮϮ

^ŚĞŶEĂŶZŽĂĚ͕zƵĞ>ŝĂŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϭϵϵϰͲϮϬϬϰ ϭϰͲϮϯ ϮͲƐƚŽƌĞLJĂŶĚϴͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ ϭϯ

tĂŶZŽĂĚ͕EĂŶƐŚĂŶ ϮϬϰϮ
ŝƐƚƌŝĐƚ͕^ŚĞŶnjŚĞŶ͕
'ƵĂŶŐĚŽŶŐ

,ŽŶŐƋŝĂŽůĂŶĚ͕ĂƐƚϯƌĚ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ Ϯ ϮϬϭϬ ϴ ϯͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ ϭϯ

ZŝŶŐ͕<ƵŶŵŝŶŐ͕zƵŶŶĂŶ ϮϬϮϳ

:ŝŶŬĞEĂŶZŽĂĚ͕ŚĞŶŐĚƵ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϮϬϬϴͲϮϬϭϭ ϳͲϭϬ ϳͲƐƚŽƌĞLJϰ^ƐŚŽǁƌŽŽŵƐ͕ƐĞƌǀŝĐĞ ϳϲ

^ŝĐŚƵĂŶ ϮϬϱϮ ĐĞŶƚƌĞƐĂŶĚǁŽƌŬƐŚŽƉƐ

tĞƐƚŽĨ,ŽƵnjŝƐŚŝƌŝĚŐĞ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ ϮϬϭϭ ϳ ϮͲƐƚŽƌĞLJϰ^ĐĞŶƚƌĞ ϭϮ

zƵĞ>ƵŝƐƚƌŝĐƚ͕ŚĂŶŐƐŚĂ͕ ϮϬϮϴ
,ƵŶĂŶ

,ŽŶŐ<ŽŶŐĂŶĚDĂĐĂƵ

ϮͲϰ&ůŽŽƌ͕<ĂŝůĞLJ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ – ϭϵϴϵ Ϯϳ ϯͲŇŽŽƌƐŽĨĂϮϬͲƐƚŽƌĞLJŽĸĐĞ ϯ

/ŶĚƵƐƚƌŝĂůĞŶƚƌĞ͕&ƵŶŐzŝƉ ϮϬϰϳ ďƵŝůĚŝŶŐĂŶĚƐĞƌǀŝĐĞĐĞŶƚƌĞ
^ƚƌĞĞƚ͕ŚĂŝtĂŶ

ANNUAL REPORT 2018 page 311

 WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

DKdKZ^;ĐŽŶƟŶƵĞĚͿ

KǀĞƌƐĞĂƐ;ĐŽŶƟŶƵĞĚͿ

,ŽŶŐ<ŽŶŐĂŶĚDĂĐĂƵ;ĐŽŶƟŶƵĞĚͿ

DĂƚĂƵǁĞŝZŽĂĚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϳϴ ϱϱ ϭϭͲƐƚŽƌĞLJƐĞƌǀŝĐĞĐĞŶƚƌĞ͕ ϭϵ

dŽŬǁĂǁĂŶ͕<ŽǁůŽŽŶ ϮϬϯϱ ƐŚŽǁƌŽŽŵĂŶĚƉĞƚƌŽůĮůůŝŶŐ
ƐƚĂƟŽŶ

ĂƐƚůĞWĞĂŬZŽĂĚ͕dƐƵĞŶ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϳϮ ϰϲ ϲͲƐƚŽƌĞLJϰ^ƐĞƌǀŝĐĞĐĞŶƚƌĞ ϲ

tĂŶ͕EĞǁdĞƌƌŝƚŽƌŝĞƐ ϮϬϰϳ

&ĂŶůŝŶŐ͕EĞǁdĞƌƌŝƚŽƌŝĞƐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϮϬϭϱ – >ĂŶĚŚĞůĚĨŽƌĚĞǀĞůŽƉŵĞŶƚŽĨĂŶ Ϯϭϲ

ϮϬϰϳ ĂƵƚŽŵŽƟǀĞƐƵƉƉŽƌƚĐĞŶƚƌĞ

ϯΘϰ&ůŽŽƌ͕dŽƉƐĂŝůWůĂnjĂ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ – ϭϵϵϮ Ϯϯ ϮͲŇŽŽƌƐŽĨĂϭϲͲƐƚŽƌĞLJŽĸĐĞ ϱϰ

ϭϭKŶ^Ƶŵ^ƚƌĞĞƚ͕^ŚĂƟŶ ϮϬϰϳ ďƵŝůĚŝŶŐĂŶĚƐĞƌǀŝĐĞĐĞŶƚƌĞ

zƵĞŶ>ŽŶŐŝƐƚƌŝĐƚ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϰ ϭϵϴϰ ϭϭϮ ϰƐĞƉĂƌĂƚĞƉůŽƚƐŽĨůĂŶĚĨŽƌ ϭ

ϮϬϰϳ ƉƌĞͲĚĞůŝǀĞƌLJŝŶƐƉĞĐƟŽŶͬ
ĐŽŵŵĞƌĐŝĂůƌĞƉĂŝƌͬƐƚŽƌĂŐĞ

ϭϮϬͲϭϱϴZƵĂĚŽƐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ * ϭϵϳϳ ϰϮ ϱͲƐƚŽƌĞLJďƵŝůĚŝŶŐǁŝƚŚƐŚŽǁƌŽŽŵ ^

WĞƐĐĂĚŽƌĞƐ͕DĂĐĂƵ ϮϬϮϲ ĂŶĚƐĞƌǀŝĐĞĐĞŶƚƌĞ

ƵƐƚƌĂůŝĂ

ŚƵƌĐŚ^ƚƌĞĞƚ͕'ƌĂŶǀŝůůĞ͕ &ƌĞĞŚŽůĚ * ϮϬϭϱ ϭϵ ^ŝŶŐůĞͲƐƚŽƌĞLJŽĸĐĞ͕ƐŚŽǁƌŽŽŵ ϱϳ

EĞǁ^ŽƵƚŚtĂůĞƐ ĂŶĚǁŽƌŬƐŚŽƉ

>ŝƩůĞĮĞůĚ^ƚ͕&ŽƌƟƚƵĚĞ &ƌĞĞŚŽůĚ Ϯ ϮϬϬϴͲϮϬϭϰ ϭϬͲϯϴ ^ŝŶŐůĞͲƐƚŽƌĞLJĂŶĚƚǁŽͲƐƚŽƌĞLJ ϭϳϴ

sĂůůĞLJ͕DŽŶŝĞƌZŽĂĚ͕ ŽĸĐĞƐ͕ƐŚŽǁƌŽŽŵƐĂŶĚ
YƵĞĞŶƐůĂŶĚ ǁŽƌŬƐŚŽƉƐ

New Zealand

'ƌĞĂƚ^ŽƵƚŚZŽĂĚ͕ &ƌĞĞŚŽůĚ ϯ ϭϵϵϴͲϮϬϭϳ ϮͲϱϯ tŽƌŬƐŚŽƉ͕ĐĞŶƚƌĂůƉĂƌƚƐ Ϯϯ

DĂŶƵŬĂƵZŽĂĚ͕DĂƌĂŶƵŝ ǁĂƌĞŚŽƵƐĞĂŶĚǁĂƌƌĂŶƚLJ
ǀĞŶƵĞ͕^ŝůǀĞƌĮĞůĚ^ƚƌĞĞƚ͕ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϴ ƉƌŽĐĞƐƐŝŶŐĐĞŶƚƌĞ
^ƚĂŶǁĂLJWůĂĐĞ͕ƵĐŬůĂŶĚ ϮϬϮϮͲϮϬϮϵ

DĂůĚĞŶ^ƚƌĞĞƚ͕ &ƌĞĞŚŽůĚ ϯ ϮϬϬϱ ϭϱͲϰϵ tŽƌŬƐŚŽƉ͕ŽĸĐĞĂŶĚĐĞŶƚƌĂů ϭϲ

WĂůŵĞƌƐƚŽŶEŽƌƚŚ ƉĂƌƚƐǁĂƌĞŚŽƵƐĞ

tĂŝƌĂƵZŽĂĚ͕tĂŝƌĂƵ &ƌĞĞŚŽůĚ ϭ ϮϬϭϰ – >ĂŶĚŚĞůĚĨŽƌĚĞǀĞůŽƉŵĞŶƚŽĨĂ Ϯϱ

sĂůůĞLJ͕ƵĐŬůĂŶĚ ƐŝŶŐůĞͲƐƚŽƌĞLJϯ^ƐĞƌǀŝĐĞĐĞŶƚƌĞ

DŽƚŽƌƐWƌŽƉĞƌƟĞƐ 1,728

page 312 SIME DARBY BERHAD

WZKWZd/^K&d,'ZKhWΈKEd/EhΉ

Land ŐĞŽĨ EĞƚŬ

area zĞĂƌŽĨ ďƵŝůĚŝŶŐ value
>ŽĐĂƟŽŶ Tenure ;,ĞĐƚĂƌĞƐͿ ĂĐƋƵŝƐŝƟŽŶ ;zĞĂƌƐͿ ĞƐĐƌŝƉƟŽŶ (RM million)

LOGISTICS

ŚŝŶĂ

:ŝŶŝŶŐŝƚLJ͕^ŚĂŶĚŽŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϴϯ ϮϬϬϵͲϮϬϭϳ ϮͲϵ WŽƌƚƐ͕ǁĂƌĞŚŽƵƐĞĂŶĚŽĸĐĞ ϮϴϬ

ϮϬϭϵͲϮϬϲϰ

tĞŝĨĂŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϲϳϬ ϮϬϬϱͲϮϬϭϳ ϮͲϭϰ WŽƌƚ͕ǁĂƌĞŚŽƵƐĞ ϵϴϯ

WŽƌƚ͕^ŚĂŶĚŽŶŐ ϮϬϱϱ ĂŶĚŽƚŚĞƌďƵŝůĚŝŶŐƐ

>ŽŐŝƐƟĐƐWƌŽƉĞƌƟĞƐ 1,263

OTHERS

DĂůĂLJƐŝĂ

>ĂďƵ͕EĞŐĞƌŝ^ĞŵďŝůĂŶ &ƌĞĞŚŽůĚ ϯ͕ϱϲϵ ϭϵϳϴͲϭϵϵϭ – DĂůĂLJƐŝĂsŝƐŝŽŶsĂůůĞLJůĂŶĚ ϯ

ƌĂĂŵĂŶƐĂƌĂ͕^ĞůĂŶŐŽƌ &ƌĞĞŚŽůĚ Ϯ ϮϬϭϳͲϮϬϭϴ ϭ ŽŵƉůĞƚĞĚŽĸĐĞƚŽǁĞƌƐ ϭϮϮ

– ŽŵŵĞƌĐŝĂůŽĸĐĞƚŽǁĞƌƐƵŶĚĞƌ ϭϲϬ
ĐŽŶƐƚƌƵĐƟŽŶ

:ĂůĂŶdĂŶĚĂŶŐ͕WĞƚĂůŝŶŐ >ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭϱ ϭϵϴϱͲϭϵϵϰ ϮϱͲϱϱ /ŶĚƵƐƚƌŝĂůůĂŶĚĂŶĚďƵŝůĚŝŶŐ ϰϴ

:ĂLJĂ ϮϬϲϱͲϮϬϲϲ

ƉĂƌƚŵĞŶƚƐĂŶĚŚŽůŝĚĂLJ &ƌĞĞŚŽůĚ * ϭϵϴϮͲϮϬϬϲ ϭϮͲϴϵ ƉĂƌƚŵĞŶƚƐͬŚŽůŝĚĂLJďƵŶŐĂůŽǁƐ Ϯ

ďƵŶŐĂůŽǁƐŝŶDĂůĂLJƐŝĂ
>ĞĂƐĞŚŽůĚĞdžƉŝƌŝŶŐ ϭ
ϮϬϮϲ

KƚŚĞƌWƌŽƉĞƌƟĞƐ 335

TOTAL 4,313

* Less than one hectare

Δ >ĞƐƐZDϭŵŝůůŝŽŶ

ANNUAL REPORT 2018 page 313

 NOTICE TO
SHAREHOLDERS UNDER
THE PERSONAL DATA
PROTECTION ACT 2010
^ŝŵĞĂƌďLJĞƌŚĂĚ;͞^͟Žƌ͞ǁĞ͟Žƌ͞ƵƐ͟Žƌ͞ŽƵƌ͟ͿƐƚƌŝǀĞƐƚŽƉƌŽƚĞĐƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWĞƌƐŽŶĂůĂƚĂWƌŽƚĞĐƟŽŶĐƚ
ϤϢϣϢ;͞ƚŚĞĐƚ͟Ϳ͘dŚĞĐƚǁĂƐĞŶĂĐƚĞĚƚŽƌĞŐƵůĂƚĞƚŚĞƉƌŽĐĞƐƐŝŶŐŽĨƉĞƌƐŽŶĂůĚĂƚĂ͘dŽĐŽŵƉůLJǁŝƚŚƚŚĞĐƚ͕ǁĞĂƌĞƌĞƋƵŝƌĞĚƚŽŵĂŶĂŐĞƚŚĞ
ƉĞƌƐŽŶĂůĚĂƚĂƚŚĂƚǁĞĐŽůůĞĐƚĨƌŽŵLJŽƵƌĞůĂƟŶŐƚŽLJŽƵƌƐŚĂƌĞŚŽůĚŝŶŐŝŶ^͘

dŚĞƉƵƌƉŽƐĞƐĨŽƌǁŚŝĐŚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂLJďĞƵƐĞĚĂƌĞ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͗

• Internal record keeping including but not limited to the registration and management of your shareholding in SDB
• To provide services to you
• To communicate with you as a shareholder of SDB
• To better understand your needs as our shareholder
• For security and fraud prevention purposes
• For the purposes of statistical analysis of data
• For marketing activities
• For the purposes of our corporate governance
• To send you event invitations based on selected events
• To comply with any legal, statutory and/or regulatory requirements
• For the purposes of inclusion in media engagements and/or any relevant or related events
• For the purposes of us preparing guest invitations, registration and/or sign-ups for our events
• For the purposes of printed and on-line publications

;ĐŽůůĞĐƟǀĞůLJ͕͞ƚŚĞWƵƌƉŽƐĞƐ͟Ϳ

zŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŝƐŽƌǁŝůůďĞĐŽůůĞĐƚĞĚĨƌŽŵŝŶĨŽƌŵĂƟŽŶƉƌŽǀŝĚĞĚďLJLJŽƵ͕ŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƉŽƐƚĂů͕ĨĂĐƐŝŵŝůĞ͕ƚĞůĞƉŚŽŶĞ͕ĂŶĚ
ĞͲŵĂŝůĐŽŵŵƵŶŝĐĂƟŽŶƐǁŝƚŚŽƌĨƌŽŵLJŽƵ͕ĂŶĚŝŶĨŽƌŵĂƟŽŶƉƌŽǀŝĚĞĚďLJƚŚŝƌĚƉĂƌƟĞƐ͕ŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƵƌƐĂDĂůĂLJƐŝĂĞƌŚĂĚĂŶĚ
ĂŶLJŽƚŚĞƌƐƚŽĐŬĞdžĐŚĂŶŐĞ͕ĂŶĚLJŽƵƌƐƚŽĐŬďƌŽŬĞƌƐĂŶĚƌĞŵŝƐŝĞƌƐ͘

zŽƵŵĂLJďĞƌĞƋƵŝƌĞĚƚŽƐƵƉƉůLJƵƐǁŝƚŚLJŽƵƌŶĂŵĞ͕ĐŽƌƌĞƐƉŽŶĚĞŶĐĞĂĚĚƌĞƐƐ͕ƚĞůĞƉŚŽŶĞŶƵŵďĞƌ͕ĨĂĐƐŝŵŝůĞŶƵŵďĞƌ͕ĂŶĚĞŵĂŝůĂĚĚƌĞƐƐ͘

/ĨLJŽƵĨĂŝůƚŽƐƵƉƉůLJƵƐǁŝƚŚƐƵĐŚƉĞƌƐŽŶĂůĚĂƚĂ͕ǁĞŵĂLJŶŽƚďĞĂďůĞƚŽƉƌŽĐĞƐƐĂŶĚͬŽƌĚŝƐĐůŽƐĞLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂĨŽƌĂŶLJŽĨƚŚĞWƵƌƉŽƐĞƐ͘

WůĞĂƐĞďĞŝŶĨŽƌŵĞĚƚŚĂƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂLJďĞĚŝƐĐůŽƐĞĚ͕ĚŝƐƐĞŵŝŶĂƚĞĚĂŶĚͬŽƌƚƌĂŶƐĨĞƌƌĞĚƚŽĐŽŵƉĂŶŝĞƐǁŝƚŚŝŶƚŚĞ^'ƌŽƵƉ;ŝŶĐůƵĚŝŶŐ
ƚŚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJ͕ƐƵďƐŝĚŝĂƌŝĞƐ͕ƌĞůĂƚĞĚĂŶĚĂĸůŝĂƚĞĚĐŽŵƉĂŶŝĞƐ͕ďŽƚŚůŽĐĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůͿ͕ǁŚĞƚŚĞƌƉƌĞƐĞŶƚŽƌĨƵƚƵƌĞ;ĐŽůůĞĐƟǀĞůLJ͕
͞ƚŚĞ'ƌŽƵƉ͟ͿŽƌƚŽĂŶLJƚŚŝƌĚƉĂƌƚLJŽƌŐĂŶŝƐĂƟŽŶƐŽƌƉĞƌƐŽŶƐĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĨƵůĮůůŝŶŐŽƵƌŽďůŝŐĂƟŽŶƐƚŽLJŽƵŝŶƌĞƐƉĞĐƚŽĨƚŚĞWƵƌƉŽƐĞƐĂŶĚ
ĂůůƐƵĐŚŽƚŚĞƌƉƵƌƉŽƐĞƐƚŚĂƚĂƌĞƌĞůĂƚĞĚƚŽƚŚĞWƵƌƉŽƐĞƐĂŶĚĂůƐŽŝŶƉƌŽǀŝĚŝŶŐŝŶƚĞŐƌĂƚĞĚƐĞƌǀŝĐĞƐ͕ŵĂŝŶƚĂŝŶŝŶŐĂŶĚƐƚŽƌŝŶŐƌĞĐŽƌĚƐŝŶĐůƵĚŝŶŐ
ďƵƚŶŽƚůŝŵŝƚĞĚƚŽƚŚĞƐŚĂƌĞƌĞŐŝƐƚƌĂƌ;ƐͿĂƉƉŽŝŶƚĞĚďLJƵƐƚŽŵĂŶĂŐĞƚŚĞƌĞŐŝƐƚƌĂƟŽŶŽĨƐŚĂƌĞŚŽůĚĞƌƐ͘

page 314 SIME DARBY BERHAD

dŚĞƉƌŽĐĞƐƐŝŶŐ͕ĚŝƐĐůŽƐƵƌĞ͕ĚŝƐƐĞŵŝŶĂƟŽŶĂŶĚͬŽƌƚƌĂŶƐĨĞƌŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂďLJƵƐĂŶĚͬŽƌƚŚĞ'ƌŽƵƉĂŶĚͬŽƌƚŚŝƌĚƉĂƌƚLJŽƌŐĂŶŝƐĂƟŽŶƐŽƌ
ƉĞƌƐŽŶƐŵĂLJƌĞƐƵůƚŝŶLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂďĞŝŶŐƚƌĂŶƐĨĞƌƌĞĚŽƵƚƐŝĚĞŽĨDĂůĂLJƐŝĂ͘

dŽƚŚŝƐĞŶĚ͕ǁĞĂƌĞĐŽŵŵŝƩĞĚƚŽĞŶƐƵƌŝŶŐƚŚĞĐŽŶĮĚĞŶƟĂůŝƚLJ͕ƉƌŽƚĞĐƟŽŶ͕ƐĞĐƵƌŝƚLJĂŶĚĂĐĐƵƌĂĐLJŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂĚĞĂǀĂŝůĂďůĞƚŽƵƐ͘
/ƚŝƐLJŽƵƌŽďůŝŐĂƟŽŶƚŽĞŶƐƵƌĞƚŚĂƚĂůůƉĞƌƐŽŶĂůĚĂƚĂƐƵďŵŝƩĞĚƚŽƵƐĂŶĚƌĞƚĂŝŶĞĚďLJƵƐĂƌĞĂĐĐƵƌĂƚĞ͕ŶŽƚŵŝƐůĞĂĚŝŶŐ͕ƵƉĚĂƚĞĚĂŶĚĐŽŵƉůĞƚĞ
ŝŶĂůůĂƐƉĞĐƚƐ͘&ŽƌƚŚĞĂǀŽŝĚĂŶĐĞŽĨĚŽƵďƚ͕ǁĞĂŶĚͬŽƌƚŚĞ'ƌŽƵƉĂŶĚͬŽƌŽƵƌŽƌƚŚĞŝƌĞŵƉůŽLJĞĞƐŽƌĂƵƚŚŽƌŝƐĞĚŽĸĐĞƌƐŽƌĂŐĞŶƚƐǁŝůůŶŽƚďĞ
ƌĞƐƉŽŶƐŝďůĞĨŽƌĂŶLJƉĞƌƐŽŶĂůĚĂƚĂƐƵďŵŝƩĞĚďLJLJŽƵƚŽƵƐƚŚĂƚŝƐŝŶĂĐĐƵƌĂƚĞ͕ŵŝƐůĞĂĚŝŶŐ͕ŶŽƚƵƉƚŽĚĂƚĞĂŶĚŝŶĐŽŵƉůĞƚĞ͘

&ƵƌƚŚĞƌ͕ǁĞŵĂLJƌĞƋƵĞƐƚLJŽƵƌĂƐƐŝƐƚĂŶĐĞƚŽƉƌŽĐƵƌĞƚŚĞĐŽŶƐĞŶƚŽĨƚŚŝƌĚƉĂƌƟĞƐǁŚŽƐĞƉĞƌƐŽŶĂůĚĂƚĂŝƐŵĂĚĞĂǀĂŝůĂďůĞďLJLJŽƵƚŽƵƐĂŶĚLJŽƵ
ŚĞƌĞďLJĂŐƌĞĞƚŽƵƐĞLJŽƵƌďĞƐƚĞŶĚĞĂǀŽƵƌƐƚŽĚŽƐŽ͘

zŽƵŵĂLJĂƚĂŶLJƟŵĞĂŌĞƌƚŚĞƐƵďŵŝƐƐŝŽŶŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂƚŽƵƐ͕ƌĞƋƵĞƐƚĨŽƌŝŶĨŽƌŵĂƟŽŶƌĞůĂƟŶŐƚŽLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂďLJĐŽŶƚĂĐƟŶŐ
ŽƵƌƐŚĂƌĞƌĞŐŝƐƚƌĂƌ͕dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚ͕ŝĨLJŽƵǁŝƐŚƚŽĞŶƋƵŝƌĞĂďŽƵƚĂŶLJĂƐƉĞĐƚƐŽĨƐŚĂƌĞƌĞŐŝƐƚƌĂƟŽŶŵĂƩĞƌƐ͗

dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚ
hŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ
sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ
DĂůĂLJƐŝĂ͘

ƩĞŶƟŽŶ ͗DƐ>ŝŵ>ĂLJ<ŝŽǁ͕^ĞŶŝŽƌDĂŶĂŐĞƌ
Tel ͗;ϨϢϥͿϤϩϪϥϫϤϫϫ
E-mail ͗ůĂLJ͘ŬŝŽǁ͘ůŝŵΛŵLJ͘ƚƌŝĐŽƌŐůŽďĂů͘ĐŽŵ

/Ŷ ĂĚĚŝƟŽŶ͕ LJŽƵ ŵĂLJ ƌĞƋƵĞƐƚ ĨŽƌ ĂĐĐĞƐƐ ƚŽ LJŽƵƌ ƉĞƌƐŽŶĂů ĚĂƚĂ ďLJ ĐŽŶƚĂĐƟŶŐ LJŽƵƌ ďƌŽŬĞƌ Žƌ ĂůƚĞƌŶĂƟǀĞůLJ dƌŝĐŽƌ /ŶǀĞƐƚŽƌ Θ /ƐƐƵŝŶŐ ,ŽƵƐĞ
^ĞƌǀŝĐĞƐ^ĚŶŚĚĂƐƐŚŽǁŶĂďŽǀĞŝĨ͗

ͻ LJŽƵƌĞƋƵŝƌĞĂĐĐĞƐƐƚŽĂŶĚͬŽƌǁŝƐŚƚŽŵĂŬĞĐŽƌƌĞĐƟŽŶƐƚŽLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂƐƵďũĞĐƚƚŽĐŽŵƉůŝĂŶĐĞŽĨƐƵĐŚƌĞƋƵĞƐƚĨŽƌĂĐĐĞƐƐŽƌĐŽƌƌĞĐƟŽŶ
ŶŽƚďĞŝŶŐƌĞĨƵƐĞĚƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĐƚĂŶĚͬŽƌĞdžŝƐƟŶŐůĂǁƐ͖Žƌ
ͻ LJŽƵǁŝƐŚƚŽĞŶƋƵŝƌĞĂďŽƵƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂ͘

ŶLJƉĞƌƐŽŶĂůĚĂƚĂƌĞƚĂŝŶĞĚďLJƵƐƐŚĂůůďĞĚĞƐƚƌŽLJĞĚĂŶĚͬŽƌĚĞůĞƚĞĚĨƌŽŵŽƵƌƌĞĐŽƌĚƐĂŶĚƐLJƐƚĞŵŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚŽƵƌƌĞƚĞŶƟŽŶƉŽůŝĐLJŝŶ
ƚŚĞĞǀĞŶƚƐƵĐŚĚĂƚĂŝƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚĨŽƌƚŚĞƐĂŝĚWƵƌƉŽƐĞƐ͘

/ŶƚŚĞĞǀĞŶƚŽĨĂŶLJŝŶĐŽŶƐŝƐƚĞŶĐLJďĞƚǁĞĞŶƚŚĞŶŐůŝƐŚǀĞƌƐŝŽŶĂŶĚƚŚĞĂŚĂƐĂDĂůĂLJƐŝĂǀĞƌƐŝŽŶŽĨƚŚŝƐEŽƟĐĞ͕ƚŚĞŶŐůŝƐŚǀĞƌƐŝŽŶƐŚĂůůƉƌĞǀĂŝů
ŽǀĞƌƚŚĞĂŚĂƐĂDĂůĂLJƐŝĂǀĞƌƐŝŽŶ͘

tĞƚƌƵƐƚƚŚĂƚLJŽƵǁŝůůĐŽŶƐĞŶƚƚŽƚŚĞƉƌŽĐĞƐƐŝŶŐŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂĂŶĚƚŚĂƚLJŽƵĚĞĐůĂƌĞƚŚĂƚLJŽƵŚĂǀĞƌĞĂĚ͕ƵŶĚĞƌƐƚŽŽĚĂŶĚĂĐĐĞƉƚĞĚƚŚĞ
ƐƚĂƚĞŵĞŶƚƐĂŶĚƚĞƌŵƐŚĞƌĞŝŶ͘
പ

ANNUAL REPORT 2018 page 315

 NOTIS KEPADA
PEMEGANG SAHAM
DI BAWAH AKTA
PERLINDUNGAN DATA
PERIBADI 2010
^ŝŵĞĂƌďLJĞƌŚĂĚ;͞^͟ĂƚĂƵ͞ŬĂŵŝ͟ͿďĞƌŵĂƚůĂŵĂƚƵŶƚƵŬŵĞůŝŶĚƵŶŐŝĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂƐĞůĂƌĂƐĚĞŶŐĂŶŬƚĂWĞƌůŝŶĚƵŶŐĂŶĂƚĂWĞƌŝďĂĚŝ
ϤϢϣϢ;͞ŬƚĂ͟Ϳ͘ŬƚĂƚĞƌƐĞďƵƚĚŝƉĞƌďƵĂƚƵŶƚƵŬŵĞŶŐĂǁĂůƐĞůŝĂƉĞŵƉƌŽƐĞƐĂŶĚĂƚĂƉĞƌŝďĂĚŝ͘ĂŐŝŵĞŵĂƚƵŚŝŬƚĂƚĞƌƐĞďƵƚ͕ŬĂŵŝĚŝŬĞŚĞŶĚĂŬŝ
ƵŶƚƵŬŵĞŶŐƵƌƵƐŬĂŶĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐŬĂŵŝŬƵŵƉƵůŬĂŶĚĂƌŝƉĂĚĂĂŶĚĂďĞƌŬĞŶĂĂŶĚĞŶŐĂŶƉĞŐĂŶŐĂŶƐĂŚĂŵĂŶĚĂĚŝ^͘

dƵũƵĂŶƉĞŶŐŐƵŶĂĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĂĚĂůĂŚƵŶƚƵŬ͕ƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͗

ͻ WĞŶLJŝŵƉĂŶĂŶƌĞŬŽĚĚĂůĂŵĂŶƚĞƌŵĂƐƵŬƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂƉĞŶĚĂŌĂƌĂŶĚĂŶƉĞŶŐƵƌƵƐĂŶƉĞŐĂŶŐĂŶƐĂŚĂŵĂŶĚĂĚŝ^
ͻ hŶƚƵŬŵĞŵďĞƌŝŬĂŶƉĞƌŬŚŝĚŵĂƚĂŶŬĞƉĂĚĂĂŶĚĂ
ͻ hŶƚƵŬďĞƌŬŽŵƵŶŝŬĂƐŝĚĞŶŐĂŶĂŶĚĂƐĞďĂŐĂŝƉĞŵĞŐĂŶŐƐĂŚĂŵ^
ͻ hŶƚƵŬůĞďŝŚŵĞŵĂŚĂŵŝŬĞƉĞƌůƵĂŶĂŶĚĂƐĞďĂŐĂŝƉĞŵĞŐĂŶŐƐĂŚĂŵŬĂŵŝ
ͻ ĂŐŝŵĂŬƐƵĚͲŵĂŬƐƵĚŬĞƐĞůĂŵĂƚĂŶĚĂŶƉĞŶĐĞŐĂŚĂŶƉĞŶŝƉƵĂŶ
ͻ ĂŐŝŵĂŬƐƵĚĂŶĂůŝƐŝƐƐƚĂƟƐƟŬĚĂƚĂ
ͻ hŶƚƵŬĂŬƟǀŝƟƉĞŵĂƐĂƌĂŶ
ͻ ĂŐŝŵĂŬƐƵĚƚĂĚďŝƌƵƌƵƐŬŽƌƉŽƌĂƚŬĂŵŝ
ͻ hŶƚƵŬŵĞŶŐŚĂŶƚĂƌũĞŵƉƵƚĂŶĂĐĂƌĂďĞƌĚĂƐĂƌŬĂŶĂĐĂƌĂͲĂĐĂƌĂƚĞƌƉŝůŝŚ
ͻ hŶƚƵŬŵĞŵĂƚƵŚŝĂƉĂͲĂƉĂŬĞŚĞŶĚĂŬĚŝƐŝƐŝƵŶĚĂŶŐͲƵŶĚĂŶŐ͕ƐƚĂƚƵƚ͕ĚĂŶƉĞƌĂƚƵƌĂŶ
ͻ ĂŐŝŵĂŬƐƵĚƉĞŶLJĞƌƚĂĂŶĚĂůĂŵƉĞŶŐůŝďĂƚĂŶŵĞĚŝĂĚĂŶͬĂƚĂƵĂƉĂͲĂƉĂĂĐĂƌĂƌĞůĞǀĂŶĂƚĂƵďĞƌŬĂŝƚĂŶ
ͻ ĂŐŝŵĂŬƐƵĚŬĂŵŝŵĞŶLJĞĚŝĂŬĂŶũĞŵƉƵƚĂŶƚĞƚĂŵƵ͕ƉĞŶĚĂŌĂƌĂŶĚĂŶͬĂƚĂƵŬĞŵĂƐƵŬĂŶƵŶƚƵŬĂĐĂƌĂͲĂĐĂƌĂŬĂŵŝ
ͻ ĂŐŝŵĂŬƐƵĚƉĞŶĞƌďŝƚĂŶďĞƌĐĞƚĂŬĚĂŶƉĞŶĞƌďŝƚĂŶĚĂůĂŵƚĂůŝĂŶŬĂŵŝ

;ƐĞĐĂƌĂŬŽůĞŬƟĨ͕͞dƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͟Ϳ͘

ĂƚĂƉĞƌŝďĂĚŝĂŶĚĂƐĞĚĂŶŐĂƚĂƵĂŬĂŶĚŝŬƵŵƉƵůĚĂƌŝƉĂĚĂŵĂŬůƵŵĂƚLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚĂŶĚĂ͕ƚĞƌŵĂƐƵŬƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͕ŬŽŵƵŶŝŬĂƐŝͲ
ŬŽŵƵŶŝŬĂƐŝƉŽƐ͕ĨĂŬƐŝŵŝůŝ͕ƚĞůĞĨŽŶ͕ĚĂŶĞͲŵĞůĚĞŶŐĂŶĂƚĂƵĚĂƌŝƉĂĚĂĂŶĚĂ͕ĚĂŶŵĂŬůƵŵĂƚLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚƉŝŚĂŬŬĞƟŐĂ͕ƚĞƌŵĂƐƵŬƚĞƚĂƉŝ
ƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͕ƵƌƐĂDĂůĂLJƐŝĂĞƌŚĂĚĚĂŶĂƉĂͲĂƉĂďƵƌƐĂƐĂŚĂŵůĂŝŶ͕ĚĂŶďƌŽŬĞƌƐĂŚĂŵĚĂŶƌĞŵŝƐŝĞƌĂŶĚĂ͘

ŶĚĂŵƵŶŐŬŝŶĚŝƉĞƌůƵŬĂŶƵŶƚƵŬŵĞŵďĞƌŝŬĂŶŬĞƉĂĚĂŬĂŵŝŶĂŵĂ͕ĂůĂŵĂƚƐƵƌĂƚͲŵĞŶLJƵƌĂƚ͕ŶŽŵďŽƌƚĞůĞĨŽŶ͕ŶŽŵďŽƌĨĂŬƐŝŵŝůŝ͕ĚĂŶĂůĂŵĂƚĞŵĞů
ĂŶĚĂ͘

:ŝŬĂĂŶĚĂŐĂŐĂůƵŶƚƵŬŵĞŵďĞƌŝŬĂŶŬĂŵŝĚĂƚĂƉĞƌŝďĂĚŝƚĞƌƐĞďƵƚ͕ŬĂŵŝŵƵŶŐŬŝŶƟĚĂŬĚĂƉĂƚŵĞŵƉƌŽƐĞƐĚĂŶͬĂƚĂƵŵĞŶnjĂŚŝƌŬĂŶĚĂƚĂƉĞƌŝďĂĚŝ
ĂŶĚĂďĂŐŝŵĂŶĂͲŵĂŶĂdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͘

page 316 SIME DARBY BERHAD

^ŝůĂŵĂŬůƵŵďĂŚĂǁĂĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂďŽůĞŚĚŝnjĂŚŝƌŬĂŶ͕ĚŝƐĞďĂƌŬĂŶĚĂŶͬĂƚĂƵĚŝƉŝŶĚĂŚŬĂŶŬĞƉĂĚĂƐLJĂƌŝŬĂƚͲƐLJĂƌŝŬĂƚĚŝĚĂůĂŵ<ƵŵƉƵůĂŶ^
;ƚĞƌŵĂƐƵŬƐLJĂƌŝŬĂƚŝŶĚƵŬ͕ĂŶĂŬͲĂŶĂŬƐLJĂƌŝŬĂƚ͕ƐLJĂƌŝŬĂƚͲƐLJĂƌŝŬĂƚďĞƌŬĂŝƚĂŶĚĂŶďĞƌƐĞŬƵƚƵƚĞŵƉĂƚĂŶĚĂŶĂŶƚĂƌĂďĂŶŐƐĂͿ͕ƐĂŵĂĚĂƉĂĚĂŵĂƐĂŬŝŶŝ
ĂƚĂƵŵĂƐĂŚĂĚĂƉĂŶ;ƐĞĐĂƌĂŬŽůĞŬƟĨ͕͞<ƵŵƉƵůĂŶ͟Ϳ͕ĂƚĂƵŬĞƉĂĚĂŵĂŶĂͲŵĂŶĂŽƌŐĂŶŝƐĂƐŝĂƚĂƵŝŶĚŝǀŝĚƵƉŝŚĂŬŬĞƟŐĂďĂŐŝŵĂŬƐƵĚŵĞŵĞŶƵŚŝ
ƚĂŶŐŐƵŶŐũĂǁĂďŬĂŵŝŬĞƉĂĚĂĂŶĚĂďĞƌŬĞŶĂĂŶĚĞŶŐĂŶdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚĚĂŶďĂŐŝƐĞŵƵĂŵĂŬƐƵĚůĂŝŶLJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶdƵũƵĂŶͲ
dƵũƵĂŶƚĞƌƐĞďƵƚĚĂŶũƵŐĂƵŶƚƵŬŵĞŵďĞƌŝŬĂŶƉĞƌŬŚŝĚŵĂƚĂŶͲƉĞƌŬŚŝĚŵĂƚĂŶďĞƌƐĞƉĂĚƵ͕ŵĞŶLJĞůĞŶŐŐĂƌĂĚĂŶŵĞŶLJŝŵƉĂŶƌĞŬŽĚͲƌĞŬŽĚƚĞƌŵĂƐƵŬ
ƚĞƚĂƉŝ ƟĚĂŬ ƚĞƌŚĂĚ ŬĞƉĂĚĂ ƉĞŶĚĂŌĂƌ ƐĂŚĂŵ ĂƚĂƵ ƉĞŶĚĂŌĂƌͲƉĞŶĚĂŌĂƌ ƐĂŚĂŵ LJĂŶŐ ĚŝůĂŶƟŬ ŽůĞŚ ŬĂŵŝ ƵŶƚƵŬ ŵĞŶŐƵƌƵƐŬĂŶ ƉĞŶĚĂŌĂƌĂŶ
ƉĞŵĞŐĂŶŐƐĂŚĂŵ͘പ

WĞŵƉƌŽƐĞƐĂŶ͕ƉĞŶnjĂŚŝƌĂŶ͕ƉĞŶLJĞďĂƌĂŶĚĂŶͬĂƚĂƵƉĞŵŝŶĚĂŚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂŽůĞŚŬĂŵŝĚĂŶͬĂƚĂƵ<ƵŵƉƵůĂŶĚĂŶͬĂƚĂƵŽƌŐĂŶŝƐĂƐŝĂƚĂƵ
ŝŶĚŝǀŝĚƵƉŝŚĂŬŬĞƟŐĂŵƵŶŐŬŝŶŵĞŶŐĂŬŝďĂƚŬĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĚŝƉŝŶĚĂŚŬĞůƵĂƌDĂůĂLJƐŝĂ͘

hŶƚƵŬƚƵũƵĂŶŝŶŝ͕ŬĂŵŝŬŽŵŝƚĞĚĚĂůĂŵŵĞŵĂƐƟŬĂŶƉĞŶLJƵůŝƚĂŶ͕ƉĞƌůŝŶĚƵŶŐĂŶ͕ŬĞƐĞůĂŵĂƚĂŶĚĂŶŬĞƚĞƉĂƚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂLJĂŶŐĚŝďĞƌŝŬĂŶ
ŬĞƉĂĚĂŬĂŵŝ͘ĚĂůĂŚƚĂŶŐŐƵŶŐũĂǁĂďĂŶĚĂƵŶƚƵŬŵĞŵĂƐƟŬĂŶďĂŚĂǁĂƐĞŵƵĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝďĞƌŝŬĂŶŬĞƉĂĚĂŬĂŵŝĚĂŶĚŝƐŝŵƉĂŶŽůĞŚ
ŬĂŵŝĂĚĂůĂŚƚĞƉĂƚ͕ƟĚĂŬŵĞŶŐĞůŝƌƵŬĂŶ͕ƚĞƌŬŝŶŝĚĂŶůĞŶŐŬĂƉĚĂůĂŵƐĞŵƵĂĂƐƉĞŬ͘ĂŐŝŵĞŶŐĞůĂŬŬĂŶŬĞƌĂŐƵĂŶ͕ŬĂŵŝĚĂŶͬĂƚĂƵ<ƵŵƉƵůĂŶĚĂŶͬ
ĂƚĂƵƉĞŬĞƌũĂĂƚĂƵƉĞŐĂǁĂŝLJĂŶŐĚŝďĞƌŝŬƵĂƐĂĂƚĂƵĞũĞŶŬĂŵŝƟĚĂŬĂŬĂŶďĞƌƚĂŶŐŐƵŶŐũĂǁĂďƵŶƚƵŬĂƉĂͲĂƉĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚ
ĂŶĚĂŬĞƉĂĚĂŬĂŵŝLJĂŶŐƟĚĂŬƚĞƉĂƚ͕ŵĞŶŐĞůŝƌƵŬĂŶ͕ďƵŬĂŶƚĞƌŬŝŶŝĚĂŶƟĚĂŬůĞŶŐŬĂƉ͘

^ĞůĂŶũƵƚŶLJĂ͕ŬĂŵŝďŽůĞŚŵĞŵŝŶƚĂďĂŶƚƵĂŶĂŶĚĂƵŶƚƵŬŵĞŵƉĞƌŽůĞŚŝƉĞƌƐĞƚƵũƵĂŶƉŝŚĂŬŬĞƟŐĂLJĂŶŐĚĂƚĂƉĞƌŝďĂĚŝŶLJĂƚĞůĂŚĚŝďĞƌŝŬĂŶŽůĞŚ
ĂŶĚĂŬĞƉĂĚĂŬĂŵŝĚĂŶĂŶĚĂĚĞŶŐĂŶŝŶŝďĞƌƐĞƚƵũƵƵŶƚƵŬŵĞŶŐŐƵŶĂŬĂŶƵƐĂŚĂƚĞƌďĂŝŬĂŶĚĂƵŶƚƵŬďĞƌďƵĂƚĚĞŵŝŬŝĂŶ͘

ŶĚĂďŽůĞŚƉĂĚĂďŝůĂͲďŝůĂŵĂƐĂƐĞůĞƉĂƐƉĞŶLJĞƌĂŚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂŬĞƉĂĚĂŬĂŵŝ͕ŵĞŵŝŶƚĂƵŶƚƵŬŵĞŶŐĂŬƐĞƐĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĚĞŶŐĂŶ
ŵĞŶŐŚƵďƵŶŐŝ ƉĞŶĚĂŌĂƌ ƐĂŚĂŵ ŬĂŵŝ͕ dƌŝĐŽƌ /ŶǀĞƐƚŽƌ Θ /ƐƐƵŝŶŐ ,ŽƵƐĞ ^ĞƌǀŝĐĞƐ ^ĚŶ ŚĚ͕ ũŝŬĂ ĂŶĚĂ ŝŶŐŝŶ ŵĞŵďƵĂƚ ƐĞďĂƌĂŶŐ ƉĞƌƚĂŶLJĂĂŶ
ďĞƌŬĞŶĂĂŶĚĞŶŐĂŶĂƐƉĞŬͲĂƐƉĞŬƉĞŶĚĂŌĂƌĂŶƐĂŚĂŵ͗

dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚ
hŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ
sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ
DĂůĂLJƐŝĂ͘

hŶƚƵŬƉĞƌŚĂƟĂŶ ͗ŝŬ>ŝŵ>ĂLJ<ŝŽǁ͕WĞŶŐƵƌƵƐ<ĂŶĂŶ
No. Tel ͗;ϨϢϥͿϤϩϪϥϫϤϫϫ
E-mel ͗ůĂLJ͘ŬŝŽǁ͘ůŝŵΛŵLJ͘ƚƌŝĐŽƌŐůŽďĂů͘ĐŽŵ

ŶĚĂũƵŐĂďŽůĞŚŵĞŵďƵĂƚƉĞƌŵŝŶƚĂĂŶƵŶƚƵŬŵĞŶŐĂŬƐĞƐĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĚĞŶŐĂŶŵĞŶŐŚƵďƵŶŐŝďƌŽŬĞƌĂŶĚĂĂƚĂƵƐĞĐĂƌĂĂůƚĞƌŶĂƟĨdƌŝĐŽƌ
/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚƐĞƉĞƌƟLJĂŶŐƚĞƌƐĞďƵƚĚŝĂƚĂƐũŝŬĂ͗

ͻ ĂŶĚĂ ŵĞŵĞƌůƵŬĂŶ ĂŬƐĞƐ ŬĞƉĂĚĂ ĚĂŶͬĂƚĂƵ ŝŶŐŝŶ ŵĞŵďƵĂƚ ƉĞŵďĞƚƵůĂŶ ŬĞƉĂĚĂ ĚĂƚĂ ƉĞƌŝďĂĚŝ ĂŶĚĂ͕ ƚĞƌƚĂŬůƵŬ ŬĞƉĂĚĂ ƉĞŵĂƚƵŚĂŶ
ƉĞƌŵŝŶƚĂĂŶƵŶƚƵŬĂŬƐĞƐĂƚĂƵƉĞŵďĞƚƵůĂŶŝƚƵƟĚĂŬĚŝƚŽůĂŬĚŝďĂǁĂŚƉĞƌƵŶƚƵŬĂŶŬƚĂƚĞƌƐĞďƵƚĚĂŶͬĂƚĂƵƵŶĚĂŶŐͲƵŶĚĂŶŐLJĂŶŐƐĞĚŝĂĂĚĂ͖
atau
ͻ ĂŶĚĂŝŶŐŝŶŵĞŵďƵĂƚƉĞƌƚĂŶLJĂĂŶŵĞŶŐĞŶĂŝĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂ͘

ƉĂͲĂƉĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝŬĞŬĂůŬĂŶŽůĞŚŬĂŵŝĂŬĂŶĚŝŵƵƐŶĂŚŬĂŶĚĂŶͬĂƚĂƵĚŝƉĂĚĂŵŬĂŶĚĂƌŝƉĂĚĂƌĞŬŽĚĚĂŶƐŝƐƚĞŵŬĂŵŝŵĞŐŝŬƵƚƉŽůŝƐŝ
ƉĞŶLJŝŵƉĂŶĂŶŬĂŵŝƐĞŬŝƌĂŶLJĂĚĂƚĂƚĞƌƐĞďƵƚƟĚĂŬůĂŐŝĚŝƉĞƌůƵŬĂŶďĂŐŝdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͘

^ĞŬŝƌĂŶLJĂ ƚĞƌĚĂƉĂƚ ĂƉĂͲĂƉĂ ŬŽŶŇŝŬ ĂŶƚĂƌĂ ǀĞƌƐŝ ĂŚĂƐĂ /ŶŐŐĞƌŝƐ ĂŶĚ ǀĞƌƐŝ ĂŚĂƐĂ DĂůĂLJƐŝĂ ĚĂůĂŵ EŽƟƐ ŝŶŝ͕ ǀĞƌƐŝ ĂŚĂƐĂ /ŶŐŐĞƌŝƐ ĂŬĂŶ
ŵĞŶŐĂƚĂƐŝǀĞƌƐŝĂŚĂƐĂDĂůĂLJƐŝĂ͘

<Ăŵŝ ƉĞƌĐĂLJĂ ďĂŚĂǁĂ ĂŶĚĂ ĂŬĂŶ ďĞƌƐĞƚƵũƵ ŬĞƉĂĚĂ ƉĞŵƉƌŽƐĞƐĂŶ ĚĂƚĂ ƉĞƌŝďĂĚŝ ĂŶĚĂ ĚĂŶ ĂŶĚĂ ŵĞŶŐĂŬƵŝ ďĂŚĂǁĂ ĂŶĚĂ ƚĞůĂŚ ŵĞŵďĂĐĂ͕
ŵĞŵĂŚĂŵŝĚĂŶŵĞŶĞƌŝŵĂƉĞƌŶLJĂƚĂĂŶͲƉĞƌŶLJĂƚĂĂŶĚĂŶƚĞƌŵĂͲƚĞƌŵĂĚĂůĂŵƐŝŶŝ͘

ANNUAL REPORT 2018 page 317

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^ŝŵĞĂƌďLJĞƌŚĂĚ;͞^͟Žƌ͞ǁĞ͟Žƌ͞ƵƐ͟Žƌ͞ŽƵƌ͟ͿƐƚƌŝǀĞƐƚŽƉƌŽƚĞĐƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞWĞƌƐŽŶĂůĂƚĂWƌŽƚĞĐƟŽŶĐƚ
ϤϢϣϢ;͞ƚŚĞĐƚ͟Ϳ͘dŚĞĐƚǁĂƐĞŶĂĐƚĞĚƚŽƌĞŐƵůĂƚĞƚŚĞƉƌŽĐĞƐƐŝŶŐŽĨƉĞƌƐŽŶĂůĚĂƚĂ͘dŽĐŽŵƉůLJǁŝƚŚƚŚĞĐƚ͕ǁĞĂƌĞƌĞƋƵŝƌĞĚƚŽŵĂŶĂŐĞƚŚĞ
ƉĞƌƐŽŶĂůĚĂƚĂƚŚĂƚǁĞĐŽůůĞĐƚĨƌŽŵLJŽƵƌĞůĂƟŶŐƚŽLJŽƵƌĂĐƟŶŐĂƐĂƉƌŽdžLJĨŽƌĂƐŚĂƌĞŚŽůĚĞƌŝŶ^͘

dŚĞƉƵƌƉŽƐĞƐĨŽƌǁŚŝĐŚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂLJďĞƵƐĞĚĂƌĞ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͗

ͻ /ŶƚĞƌŶĂůƌĞĐŽƌĚŬĞĞƉŝŶŐŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽƚŚĞƌĞŐŝƐƚƌĂƟŽŶŽĨĂƩĞŶĚĂŶĐĞĂƚƚŚĞŐĞŶĞƌĂůŵĞĞƟŶŐ;ƐͿ
ͻ dŽĐŽŵŵƵŶŝĐĂƚĞǁŝƚŚLJŽƵĂƐĂƉƌŽdžLJĨŽƌĂƐŚĂƌĞŚŽůĚĞƌŽĨ^
ͻ &ŽƌƐĞĐƵƌŝƚLJĂŶĚĨƌĂƵĚƉƌĞǀĞŶƟŽŶƉƵƌƉŽƐĞƐ
ͻ &ŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƐƚĂƟƐƟĐĂůĂŶĂůLJƐŝƐŽĨĚĂƚĂ
ͻ &ŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨŽƵƌĐŽƌƉŽƌĂƚĞŐŽǀĞƌŶĂŶĐĞ
ͻ dŽĐŽŵƉůLJǁŝƚŚĂŶLJůĞŐĂů͕ƐƚĂƚƵƚŽƌLJĂŶĚͬŽƌƌĞŐƵůĂƚŽƌLJƌĞƋƵŝƌĞŵĞŶƚƐ

;ĐŽůůĞĐƟǀĞůLJ͕͞ƚŚĞWƵƌƉŽƐĞƐ͟Ϳ͘

zŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŝƐŽƌǁŝůůďĞĐŽůůĞĐƚĞĚĨƌŽŵŝŶĨŽƌŵĂƟŽŶƉƌŽǀŝĚĞĚďLJLJŽƵ͕ŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƉŽƐƚĂů͕ĨĂĐƐŝŵŝůĞ͕ƚĞůĞƉŚŽŶĞ͕ĂŶĚ
ĞͲŵĂŝůĐŽŵŵƵŶŝĐĂƟŽŶƐǁŝƚŚŽƌĨƌŽŵLJŽƵ͕ĂŶĚŝŶĨŽƌŵĂƟŽŶƉƌŽǀŝĚĞĚďLJƚŚŝƌĚƉĂƌƟĞƐ͕ŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƵƌƐĂDĂůĂLJƐŝĂĞƌŚĂĚĂŶĚ
ĂŶLJŽƚŚĞƌƐƚŽĐŬĞdžĐŚĂŶŐĞ͕ĂŶĚLJŽƵƌƐƚŽĐŬďƌŽŬĞƌƐĂŶĚƌĞŵŝƐŝĞƌƐ͘

zŽƵŵĂLJďĞƌĞƋƵŝƌĞĚƚŽƐƵƉƉůLJƵƐǁŝƚŚLJŽƵƌŶĂŵĞ͕EZ/EŽ͘ĂŶĚĐŽƌƌĞƐƉŽŶĚĞŶĐĞĂĚĚƌĞƐƐ͘

/ĨLJŽƵĨĂŝůƚŽƐƵƉƉůLJƵƐǁŝƚŚƐƵĐŚƉĞƌƐŽŶĂůĚĂƚĂ͕ǁĞŵĂLJŶŽƚďĞĂďůĞƚŽƉƌŽĐĞƐƐĂŶĚͬŽƌĚŝƐĐůŽƐĞLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂĨŽƌĂŶLJŽĨƚŚĞWƵƌƉŽƐĞƐ͘

WůĞĂƐĞďĞŝŶĨŽƌŵĞĚƚŚĂƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂLJďĞĚŝƐĐůŽƐĞĚ͕ĚŝƐƐĞŵŝŶĂƚĞĚĂŶĚͬŽƌƚƌĂŶƐĨĞƌƌĞĚƚŽĐŽŵƉĂŶŝĞƐǁŝƚŚŝŶƚŚĞ^'ƌŽƵƉ;ŝŶĐůƵĚŝŶŐ
ƚŚĞŚŽůĚŝŶŐĐŽŵƉĂŶLJ͕ƐƵďƐŝĚŝĂƌŝĞƐ͕ƌĞůĂƚĞĚĂŶĚĂĸůŝĂƚĞĚĐŽŵƉĂŶŝĞƐ͕ďŽƚŚůŽĐĂůĂŶĚŝŶƚĞƌŶĂƟŽŶĂůͿ͕ǁŚĞƚŚĞƌƉƌĞƐĞŶƚŽƌĨƵƚƵƌĞ;ĐŽůůĞĐƟǀĞůLJ͕
͞ƚŚĞ'ƌŽƵƉ͟ͿŽƌƚŽĂŶLJƚŚŝƌĚƉĂƌƚLJŽƌŐĂŶŝƐĂƟŽŶƐŽƌƉĞƌƐŽŶƐĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĨƵůĮůůŝŶŐŽƵƌŽďůŝŐĂƟŽŶƐƚŽLJŽƵŝŶƌĞƐƉĞĐƚŽĨƚŚĞWƵƌƉŽƐĞƐĂŶĚ
ĂůůƐƵĐŚŽƚŚĞƌƉƵƌƉŽƐĞƐƚŚĂƚĂƌĞƌĞůĂƚĞĚƚŽƚŚĞWƵƌƉŽƐĞƐĂŶĚĂůƐŽŝŶƉƌŽǀŝĚŝŶŐŝŶƚĞŐƌĂƚĞĚƐĞƌǀŝĐĞƐ͕ŵĂŝŶƚĂŝŶŝŶŐĂŶĚƐƚŽƌŝŶŐƌĞĐŽƌĚƐŝŶĐůƵĚŝŶŐ
ďƵƚŶŽƚůŝŵŝƚĞĚƚŽƚŚĞƐŚĂƌĞƌĞŐŝƐƚƌĂƌ;ƐͿĂƉƉŽŝŶƚĞĚďLJƵƐƚŽŵĂŶĂŐĞƚŚĞƌĞŐŝƐƚƌĂƟŽŶŽĨƐŚĂƌĞŚŽůĚĞƌƐ͘

dŚĞƉƌŽĐĞƐƐŝŶŐ͕ĚŝƐĐůŽƐƵƌĞ͕ĚŝƐƐĞŵŝŶĂƟŽŶĂŶĚͬŽƌƚƌĂŶƐĨĞƌŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂďLJƵƐĂŶĚͬŽƌƚŚĞ'ƌŽƵƉĂŶĚͬŽƌƚŚŝƌĚƉĂƌƚLJŽƌŐĂŶŝƐĂƟŽŶƐŽƌ
ƉĞƌƐŽŶƐŵĂLJƌĞƐƵůƚŝŶLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂďĞŝŶŐƚƌĂŶƐĨĞƌƌĞĚŽƵƚƐŝĚĞŽĨDĂůĂLJƐŝĂ͘

dŽƚŚŝƐĞŶĚ͕ǁĞĂƌĞĐŽŵŵŝƩĞĚƚŽĞŶƐƵƌŝŶŐƚŚĞĐŽŶĮĚĞŶƟĂůŝƚLJ͕ƉƌŽƚĞĐƟŽŶ͕ƐĞĐƵƌŝƚLJĂŶĚĂĐĐƵƌĂĐLJŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂŵĂĚĞĂǀĂŝůĂďůĞƚŽƵƐ͘
/ƚŝƐLJŽƵƌŽďůŝŐĂƟŽŶƚŽĞŶƐƵƌĞƚŚĂƚĂůůƉĞƌƐŽŶĂůĚĂƚĂƐƵďŵŝƩĞĚƚŽƵƐĂŶĚƌĞƚĂŝŶĞĚďLJƵƐĂƌĞĂĐĐƵƌĂƚĞ͕ŶŽƚŵŝƐůĞĂĚŝŶŐ͕ƵƉĚĂƚĞĚĂŶĚĐŽŵƉůĞƚĞ
ŝŶĂůůĂƐƉĞĐƚƐ͘&ŽƌƚŚĞĂǀŽŝĚĂŶĐĞŽĨĚŽƵďƚ͕ǁĞĂŶĚͬŽƌƚŚĞ'ƌŽƵƉĂŶĚͬŽƌŽƵƌŽƌƚŚĞŝƌĞŵƉůŽLJĞĞƐŽƌĂƵƚŚŽƌŝƐĞĚŽĸĐĞƌƐŽƌĂŐĞŶƚƐǁŝůůŶŽƚďĞ
ƌĞƐƉŽŶƐŝďůĞĨŽƌĂŶLJƉĞƌƐŽŶĂůĚĂƚĂƐƵďŵŝƩĞĚďLJLJŽƵƚŽƵƐƚŚĂƚŝƐŝŶĂĐĐƵƌĂƚĞ͕ŵŝƐůĞĂĚŝŶŐ͕ŶŽƚƵƉƚŽĚĂƚĞĂŶĚŝŶĐŽŵƉůĞƚĞ͘
പ

page 318 SIME DARBY BERHAD

&ƵƌƚŚĞƌ͕ǁĞŵĂLJƌĞƋƵĞƐƚLJŽƵƌĂƐƐŝƐƚĂŶĐĞƚŽƉƌŽĐƵƌĞƚŚĞĐŽŶƐĞŶƚŽĨƚŚŝƌĚƉĂƌƟĞƐǁŚŽƐĞƉĞƌƐŽŶĂůĚĂƚĂŝƐŵĂĚĞĂǀĂŝůĂďůĞďLJLJŽƵƚŽƵƐĂŶĚLJŽƵ
ŚĞƌĞďLJĂŐƌĞĞƚŽƵƐĞLJŽƵƌďĞƐƚĞŶĚĞĂǀŽƵƌƐƚŽĚŽƐŽ͘

zŽƵŵĂLJĂƚĂŶLJƟŵĞĂŌĞƌƚŚĞƐƵďŵŝƐƐŝŽŶŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂƚŽƵƐ͕ƌĞƋƵĞƐƚĨŽƌĂĐĐĞƐƐƚŽLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂĨƌŽŵdƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ
,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚŝĨ͗

ͻ LJŽƵƌĞƋƵŝƌĞĂĐĐĞƐƐƚŽĂŶĚͬŽƌǁŝƐŚƚŽŵĂŬĞĐŽƌƌĞĐƟŽŶƐƚŽLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂƐƵďũĞĐƚƚŽĐŽŵƉůŝĂŶĐĞŽĨƐƵĐŚƌĞƋƵĞƐƚĨŽƌĂĐĐĞƐƐŽƌĐŽƌƌĞĐƟŽŶ
ŶŽƚďĞŝŶŐƌĞĨƵƐĞĚƵŶĚĞƌƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚĞĐƚĂŶĚͬŽƌĞdžŝƐƟŶŐůĂǁƐ͖Žƌ
ͻ LJŽƵǁŝƐŚƚŽĞŶƋƵŝƌĞĂďŽƵƚLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂ͘

dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚ
hŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ
sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ
DĂůĂLJƐŝĂ͘

ƩĞŶƟŽŶ ͗DƐ>ŝŵ>ĂLJ<ŝŽǁ͕^ĞŶŝŽƌDĂŶĂŐĞƌ
Tel ͗;ϨϢϥͿϤϩϪϥϫϤϫϫ
E-mail ͗ůĂLJ͘ŬŝŽǁ͘ůŝŵΛŵLJ͘ƚƌŝĐŽƌŐůŽďĂů͘ĐŽŵ

ŶLJƉĞƌƐŽŶĂůĚĂƚĂƌĞƚĂŝŶĞĚďLJƵƐƐŚĂůůďĞĚĞƐƚƌŽLJĞĚĂŶĚͬŽƌĚĞůĞƚĞĚĨƌŽŵŽƵƌƌĞĐŽƌĚƐĂŶĚƐLJƐƚĞŵŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚŽƵƌƌĞƚĞŶƟŽŶƉŽůŝĐLJŝŶ
ƚŚĞĞǀĞŶƚƐƵĐŚĚĂƚĂŝƐŶŽůŽŶŐĞƌƌĞƋƵŝƌĞĚĨŽƌƚŚĞƐĂŝĚWƵƌƉŽƐĞƐ͘

/ŶƚŚĞĞǀĞŶƚŽĨĂŶLJŝŶĐŽŶƐŝƐƚĞŶĐLJďĞƚǁĞĞŶƚŚĞŶŐůŝƐŚǀĞƌƐŝŽŶĂŶĚƚŚĞĂŚĂƐĂDĂůĂLJƐŝĂǀĞƌƐŝŽŶŽĨƚŚŝƐEŽƟĐĞ͕ƚŚĞŶŐůŝƐŚǀĞƌƐŝŽŶƐŚĂůůƉƌĞǀĂŝů
ŽǀĞƌƚŚĞĂŚĂƐĂDĂůĂLJƐŝĂǀĞƌƐŝŽŶ͘

tĞƚƌƵƐƚƚŚĂƚLJŽƵǁŝůůĐŽŶƐĞŶƚƚŽƚŚĞƉƌŽĐĞƐƐŝŶŐŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂĂŶĚƚŚĂƚLJŽƵĚĞĐůĂƌĞƚŚĂƚLJŽƵŚĂǀĞƌĞĂĚ͕ƵŶĚĞƌƐƚŽŽĚĂŶĚĂĐĐĞƉƚĞĚƚŚĞ
ƐƚĂƚĞŵĞŶƚƐĂŶĚƚĞƌŵƐŚĞƌĞŝŶ͘

ANNUAL REPORT 2018 page 319

 NOTIS KEPADA PROKSI
DI BAWAH AKTA
PERLINDUNGAN DATA
PERIBADI 2010
^ŝŵĞĂƌďLJĞƌŚĂĚ;͞^͟ĂƚĂƵ͞ŬĂŵŝ͟ͿďĞƌŵĂƚůĂŵĂƚƵŶƚƵŬŵĞůŝŶĚƵŶŐŝĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂƐĞůĂƌĂƐĚĞŶŐĂŶŬƚĂWĞƌůŝŶĚƵŶŐĂŶĂƚĂWĞƌŝďĂĚŝ
ϤϢϣϢ;͞ŬƚĂ͟Ϳ͘ŬƚĂƚĞƌƐĞďƵƚĚŝƉĞƌďƵĂƚƵŶƚƵŬŵĞŶŐĂǁĂůƐĞůŝĂƉĞŵƉƌŽƐĞƐĂŶĚĂƚĂƉĞƌŝďĂĚŝ͘ĂŐŝŵĞŵĂƚƵŚŝŬƚĂƚĞƌƐĞďƵƚ͕ŬĂŵŝĚŝŬĞŚĞŶĚĂŬŝ
ƵŶƚƵŬŵĞŶŐƵƌƵƐŬĂŶĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐŬĂŵŝŬƵŵƉƵůŬĂŶĚĂƌŝƉĂĚĂĂŶĚĂďĞƌŬĞŶĂĂŶĚĞŶŐĂŶƉĞƌǁĂŬŝůĂŶĂŶĚĂƐĞďĂŐĂŝƉƌŽŬƐŝƵŶƚƵŬƉĞŵĞŐĂŶŐ
ƐĂŚĂŵ^͘

dƵũƵĂŶƉĞŶŐŐƵŶĂĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĂĚĂůĂŚƵŶƚƵŬ͕ƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͗

ͻ WĞŶLJŝŵƉĂŶĂŶƌĞŬŽĚĚĂůĂŵĂŶƚĞƌŵĂƐƵŬƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂƉĞŶĚĂŌĂƌĂŶŬĞŚĂĚŝƌĂŶĚŝŵĞƐLJƵĂƌĂƚ;ͲŵĞƐLJƵĂƌĂƚͿĂŐƵŶŐ
ͻ hŶƚƵŬďĞƌŬŽŵƵŶŝŬĂƐŝĚĞŶŐĂŶĂŶĚĂƐĞďĂŐĂŝƉƌŽŬƐŝƵŶƚƵŬƉĞŵĞŐĂŶŐƐĂŚĂŵ^
ͻ ĂŐŝŵĂŬƐƵĚͲŵĂŬƐƵĚŬĞƐĞůĂŵĂƚĂŶĚĂŶƉĞŶĐĞŐĂŚĂŶƉĞŶŝƉƵĂŶ
ͻ ĂŐŝŵĂŬƐƵĚĂŶĂůŝƐŝƐƐƚĂƟƐƟŬĚĂƚĂ
ͻ ĂŐŝŵĂŬƐƵĚƚĂĚďŝƌƵƌƵƐŬŽƌƉŽƌĂƚŬĂŵŝ
ͻ hŶƚƵŬŵĞŵĂƚƵŚŝĂƉĂͲĂƉĂŬĞŚĞŶĚĂŬĚŝƐŝƐŝƵŶĚĂŶŐͲƵŶĚĂŶŐ͕ƐƚĂƚƵƚŽƌŝ͕ĚĂŶͬĂƚĂƵƉĞƌĂƚƵƌĂŶ

;ƐĞĐĂƌĂŬŽůĞŬƟĨ͕͞dƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͟Ϳ͘

ĂƚĂƉĞƌŝďĂĚŝĂŶĚĂƐĞĚĂŶŐĂƚĂƵĂŬĂŶĚŝŬƵŵƉƵůĚĂƌŝƉĂĚĂŵĂŬůƵŵĂƚLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚĂŶĚĂ͕ƚĞƌŵĂƐƵŬƚĞƚĂƉŝƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͕ŬŽŵƵŶŝŬĂƐŝͲ
ŬŽŵƵŶŝŬĂƐŝƉŽƐ͕ĨĂŬƐŝŵŝůŝ͕ƚĞůĞĨŽŶ͕ĚĂŶĞͲŵĞůĚĞŶŐĂŶĂƚĂƵĚĂƌŝƉĂĚĂĂŶĚĂ͕ĚĂŶŵĂŬůƵŵĂƚLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚƉŝŚĂŬŬĞƟŐĂ͕ƚĞƌŵĂƐƵŬƚĞƚĂƉŝ
ƟĚĂŬƚĞƌŚĂĚŬĞƉĂĚĂ͕ƵƌƐĂDĂůĂLJƐŝĂĞƌŚĂĚĚĂŶĂƉĂͲĂƉĂďƵƌƐĂƐĂŚĂŵůĂŝŶ͕ĚĂŶďƌŽŬĞƌƐĂŚĂŵĚĂŶƌĞŵŝƐŝĞƌĂŶĚĂ͘

ŶĚĂŵƵŶŐŬŝŶĚŝƉĞƌůƵŬĂŶƵŶƚƵŬŵĞŵďĞƌŝŬĂŶŬĞƉĂĚĂŬĂŵŝŶĂŵĂ͕EŽ͘<WĂƌƵĚĂŶĂůĂŵĂƚƐƵƌĂƚͲŵĞŶLJƵƌĂƚ͘

:ŝŬĂĂŶĚĂŐĂŐĂůƵŶƚƵŬŵĞŵďĞƌŝŬĂŶŬĂŵŝĚĂƚĂƉĞƌŝďĂĚŝƚĞƌƐĞďƵƚ͕ŬĂŵŝŵƵŶŐŬŝŶƟĚĂŬĚĂƉĂƚŵĞŵƉƌŽƐĞƐĚĂŶͬĂƚĂƵŵĞŶnjĂŚŝƌŬĂŶĚĂƚĂƉĞƌŝďĂĚŝ
ĂŶĚĂďĂŐŝŵĂŶĂͲŵĂŶĂdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͘

^ŝůĂŵĂŬůƵŵďĂŚĂǁĂĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂďŽůĞŚĚŝnjĂŚŝƌŬĂŶ͕ĚŝƐĞďĂƌŬĂŶĚĂŶͬĂƚĂƵĚŝƉŝŶĚĂŚŬĂŶŬĞƉĂĚĂƐLJĂƌŝŬĂƚͲƐLJĂƌŝŬĂƚĚŝĚĂůĂŵ<ƵŵƉƵůĂŶ^
;ƚĞƌŵĂƐƵŬƐLJĂƌŝŬĂƚŝŶĚƵŬ͕ĂŶĂŬͲĂŶĂŬƐLJĂƌŝŬĂƚ͕ƐLJĂƌŝŬĂƚͲƐLJĂƌŝŬĂƚďĞƌŬĂŝƚĂŶĚĂŶďĞƌƐĞŬƵƚƵƚĞŵƉĂƚĂŶĚĂŶĂŶƚĂƌĂďĂŶŐƐĂͿ͕ƐĂŵĂĚĂƉĂĚĂŵĂƐĂŬŝŶŝ
ĂƚĂƵŵĂƐĂŚĂĚĂƉĂŶ;ƐĞĐĂƌĂŬŽůĞŬƟĨ͕͞<ƵŵƉƵůĂŶ͟Ϳ͕ĂƚĂƵŬĞƉĂĚĂŵĂŶĂͲŵĂŶĂŽƌŐĂŶŝƐĂƐŝĂƚĂƵŝŶĚŝǀŝĚƵƉŝŚĂŬŬĞƟŐĂďĂŐŝŵĂŬƐƵĚŵĞŵĞŶƵŚŝ
ƚĂŶŐŐƵŶŐũĂǁĂďŬĂŵŝŬĞƉĂĚĂĂŶĚĂďĞƌŬĞŶĂĂŶĚĞŶŐĂŶdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚĚĂŶďĂŐŝƐĞŵƵĂŵĂŬƐƵĚůĂŝŶLJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶdƵũƵĂŶͲ
dƵũƵĂŶƚĞƌƐĞďƵƚĚĂŶũƵŐĂƵŶƚƵŬŵĞŵďĞƌŝŬĂŶƉĞƌŬŚŝĚŵĂƚĂŶͲƉĞƌŬŚŝĚŵĂƚĂŶďĞƌƐĞƉĂĚƵ͕ŵĞŶLJĞůĞŶŐŐĂƌĂĚĂŶŵĞŶLJŝŵƉĂŶƌĞŬŽĚͲƌĞŬŽĚƚĞƌŵĂƐƵŬ
ƚĞƚĂƉŝ ƟĚĂŬ ƚĞƌŚĂĚ ŬĞƉĂĚĂ ƉĞŶĚĂŌĂƌ ƐĂŚĂŵ ĂƚĂƵ ƉĞŶĚĂŌĂƌͲƉĞŶĚĂŌĂƌ ƐĂŚĂŵ LJĂŶŐ ĚŝůĂŶƟŬ ŽůĞŚ ŬĂŵŝ ƵŶƚƵŬ ŵĞŶŐƵƌƵƐŬĂŶ ƉĞŶĚĂŌĂƌĂŶ
ƉĞŵĞŐĂŶŐƐĂŚĂŵ͘

WĞŵƉƌŽƐĞƐĂŶ͕ƉĞŶnjĂŚŝƌĂŶ͕ƉĞŶLJĞďĂƌĂŶĚĂŶͬĂƚĂƵƉĞŵŝŶĚĂŚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂŽůĞŚŬĂŵŝĚĂŶͬĂƚĂƵ<ƵŵƉƵůĂŶĚĂŶͬĂƚĂƵŽƌŐĂŶŝƐĂƐŝĂƚĂƵ
ŝŶĚŝǀŝĚƵƉŝŚĂŬŬĞƟŐĂŵƵŶŐŬŝŶŵĞŶŐĂŬŝďĂƚŬĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĚŝƉŝŶĚĂŚŬĞůƵĂƌDĂůĂLJƐŝĂ͘

page 320 SIME DARBY BERHAD

hŶƚƵŬƚƵũƵĂŶŝŶŝ͕ŬĂŵŝŬŽŵŝƚĞĚĚĂůĂŵŵĞŵĂƐƟŬĂŶƉĞŶLJƵůŝƚĂŶ͕ƉĞƌůŝŶĚƵŶŐĂŶ͕ŬĞƐĞůĂŵĂƚĂŶĚĂŶŬĞƚĞƉĂƚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂLJĂŶŐĚŝďĞƌŝŬĂŶ
ŬĞƉĂĚĂŬĂŵŝ͘ĚĂůĂŚƚĂŶŐŐƵŶŐũĂǁĂďĂŶĚĂƵŶƚƵŬŵĞŵĂƐƟŬĂŶďĂŚĂǁĂƐĞŵƵĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝďĞƌŝŬĂŶŬĞƉĂĚĂŬĂŵŝĚĂŶĚŝƐŝŵƉĂŶŽůĞŚ
ŬĂŵŝĂĚĂůĂŚƚĞƉĂƚ͕ƟĚĂŬŵĞŶŐĞůŝƌƵŬĂŶ͕ƚĞƌŬŝŶŝĚĂŶůĞŶŐŬĂƉĚĂůĂŵƐĞŵƵĂĂƐƉĞŬ͘ĂŐŝŵĞŶŐĞůĂŬŬĂŶŬĞƌĂŐƵĂŶ͕ŬĂŵŝĚĂŶͬĂƚĂƵ<ƵŵƉƵůĂŶĚĂŶͬ
ĂƚĂƵƉĞŬĞƌũĂĂƚĂƵƉĞŐĂǁĂŝLJĂŶŐĚŝďĞƌŝŬƵĂƐĂĂƚĂƵĞũĞŶŬĂŵŝƟĚĂŬĂŬĂŶďĞƌƚĂŶŐŐƵŶŐũĂǁĂďƵŶƚƵŬĂƉĂͲĂƉĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚ
ĂŶĚĂŬĞƉĂĚĂŬĂŵŝLJĂŶŐƟĚĂŬƚĞƉĂƚ͕ŵĞŶŐĞůŝƌƵŬĂŶ͕ďƵŬĂŶƚĞƌŬŝŶŝĚĂŶƟĚĂŬůĞŶŐŬĂƉ͘

^ĞůĂŶũƵƚŶLJĂ͕ŬĂŵŝďŽůĞŚŵĞŵŝŶƚĂďĂŶƚƵĂŶĂŶĚĂƵŶƚƵŬŵĞŵƉĞƌŽůĞŚŝƉĞƌƐĞƚƵũƵĂŶƉŝŚĂŬŬĞƟŐĂLJĂŶŐĚĂƚĂƉĞƌŝďĂĚŝŶLJĂƚĞůĂŚĚŝďĞƌŝŬĂŶŽůĞŚ
ĂŶĚĂŬĞƉĂĚĂŬĂŵŝĚĂŶĂŶĚĂĚĞŶŐĂŶŝŶŝďĞƌƐĞƚƵũƵƵŶƚƵŬŵĞŶŐŐƵŶĂŬĂŶƵƐĂŚĂƚĞƌďĂŝŬĂŶĚĂƵŶƚƵŬďĞƌďƵĂƚĚĞŵŝŬŝĂŶ͘

ŶĚĂďŽůĞŚƉĂĚĂďŝůĂͲďŝůĂŵĂƐĂƐĞůĞƉĂƐƉĞŶLJĞƌĂŚĂŶĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂŬĞƉĂĚĂŬĂŵŝ͕ŵĞŵŝŶƚĂƵŶƚƵŬŵĞŶŐĂŬƐĞƐĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂĚĂƌŝƉĂĚĂ
dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚũŝŬĂ͗

ͻ ĂŶĚĂ ŵĞŵĞƌůƵŬĂŶ ĂŬƐĞƐ ŬĞƉĂĚĂ ĚĂŶͬĂƚĂƵ ŝŶŐŝŶ ŵĞŵďƵĂƚ ƉĞŵďĞƚƵůĂŶ ŬĞƉĂĚĂ ĚĂƚĂ ƉĞƌŝďĂĚŝ ĂŶĚĂ͕ ƚĞƌƚĂŬůƵŬ ŬĞƉĂĚĂ ƉĞŵĂƚƵŚĂŶ
ƉĞƌŵŝŶƚĂĂŶƵŶƚƵŬĂŬƐĞƐĂƚĂƵƉĞŵďĞƚƵůĂŶŝƚƵƟĚĂŬĚŝƚŽůĂŬĚŝďĂǁĂŚƉĞƌƵŶƚƵŬĂŶŬƚĂƚĞƌƐĞďƵƚĚĂŶͬĂƚĂƵƵŶĚĂŶŐͲƵŶĚĂŶŐLJĂŶŐƐĞĚŝĂĂĚĂ͖
atau
ͻ ĂŶĚĂŝŶŐŝŶŵĞŵďƵĂƚƉĞƌƚĂŶLJĂĂŶŵĞŶŐĞŶĂŝĚĂƚĂƉĞƌŝďĂĚŝĂŶĚĂ͘

dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚ
hŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ
sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ
ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ
EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ
ϧϫϤϢϢ<ƵĂůĂ>ƵŵƉƵƌ
DĂůĂLJƐŝĂ͘

hŶƚƵŬƉĞƌŚĂƟĂŶ ͗ŝŬ>ŝŵ>ĂLJ<ŝŽǁ͕WĞŶŐƵƌƵƐ<ĂŶĂŶ
No. Tel ͗;ϨϢϥͿϤϩϪϥϫϤϫϫ
E-mel ͗ůĂLJ͘ŬŝŽǁ͘ůŝŵΛŵLJ͘ƚƌŝĐŽƌŐůŽďĂů͘ĐŽŵ

ƉĂͲĂƉĂĚĂƚĂƉĞƌŝďĂĚŝLJĂŶŐĚŝŬĞŬĂůŬĂŶŽůĞŚŬĂŵŝĂŬĂŶĚŝŵƵƐŶĂŚŬĂŶĚĂŶͬĂƚĂƵĚŝƉĂĚĂŵŬĂŶĚĂƌŝƉĂĚĂƌĞŬŽĚĚĂŶƐŝƐƚĞŵŬĂŵŝŵĞŶŐŝŬƵƚƉŽůŝƐŝ
ƉĞŶLJŝŵƉĂŶĂŶŬĂŵŝƐĞŬŝƌĂŶLJĂĚĂƚĂƚĞƌƐĞďƵƚƟĚĂŬůĂŐŝĚŝƉĞƌůƵŬĂŶďĂŐŝdƵũƵĂŶͲdƵũƵĂŶƚĞƌƐĞďƵƚ͘

^ĞŬŝƌĂŶLJĂ ƚĞƌĚĂƉĂƚ ĂƉĂͲĂƉĂ ŬŽŶŇŝŬ ĂŶƚĂƌĂ ǀĞƌƐŝ ĂŚĂƐĂ /ŶŐŐĞƌŝƐ ĂŶĚ ǀĞƌƐŝ ĂŚĂƐĂ DĂůĂLJƐŝĂ ĚĂůĂŵ EŽƟƐ ŝŶŝ͕ ǀĞƌƐŝ ĂŚĂƐĂ /ŶŐŐĞƌŝƐ ĂŬĂŶ
ŵĞŶŐĂƚĂƐŝǀĞƌƐŝĂŚĂƐĂDĂůĂLJƐŝĂ͘

<Ăŵŝ ƉĞƌĐĂLJĂ ďĂŚĂǁĂ ĂŶĚĂ ĂŬĂŶ ďĞƌƐĞƚƵũƵ ŬĞƉĂĚĂ ƉĞŵƉƌŽƐĞƐĂŶ ĚĂƚĂ ƉĞƌŝďĂĚŝ ĂŶĚĂ ĚĂŶ ĂŶĚĂ ŵĞŶŐĂŬƵŝ ďĂŚĂǁĂ ĂŶĚĂ ƚĞůĂŚ ŵĞŵďĂĐĂ͕
ŵĞŵĂŚĂŵŝĚĂŶŵĞŶĞƌŝŵĂƉĞƌŶLJĂƚĂĂŶͲƉĞƌŶLJĂƚĂĂŶĚĂŶƚĞƌŵĂͲƚĞƌŵĂĚŝƐŝŶŝ͘

ANNUAL REPORT 2018 page 321

 INDEPENDENT
ASSURANCE REPORT
TO MANAGEMENT OF SIME DARBY BERHAD (2018)
tĞŚĂǀĞďĞĞŶĞŶŐĂŐĞĚďLJ^ŝŵĞĂƌďLJ,ŽůĚŝŶŐƐĞƌŚĂĚƚŽƉĞƌĨŽƌŵ
ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ůŝŵŝƚĞĚ ĂƐƐƵƌĂŶĐĞ ĞŶŐĂŐĞŵĞŶƚ ŽŶ ƐĞůĞĐƚĞĚ
^ƵƐƚĂŝŶĂďŝůŝƚLJ /ŶĨŽƌŵĂƟŽŶ ;ŚĞƌĞŽŶ ĂŌĞƌ ƌĞĨĞƌƌĞĚ ƚŽ ĂƐ ͞^ĞůĞĐƚĞĚ
/ŶĨŽƌŵĂƟŽŶ͟ ĐŽŵƉƌŝƐŝŶŐ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ ƐĞƚ ŽƵƚ ŝŶ ƚŚĞ ^ƵďũĞĐƚ
DĂƩĞƌͿ ĂƐ ƌĞƉŽƌƚĞĚ ďLJ ^ŝŵĞ ĂƌďLJ ĞƌŚĂĚ ;͞^ŝŵĞ ĂƌďLJ͟Ϳ ŝŶ ŝƚƐ
ŶŶƵĂůZĞƉŽƌƚĨŽƌĮŶĂŶĐŝĂůLJĞĂƌϤϢϣϪ;͞^ŝŵĞĂƌďLJŶŶƵĂůZĞƉŽƌƚ
ϤϢϣϪ͟Ϳ͘
DE'DEd͛^Z^WKE^//>/dz
dŚĞ DĂŶĂŐĞŵĞŶƚ ŽĨ ^ŝŵĞ ĂƌďLJ ĞƌŚĂĚ ŝƐ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ
ƉƌĞƉĂƌĂƟŽŶŽĨƚŚĞ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶŝŶĐůƵĚĞĚŝŶƚŚĞ^ŝŵĞĂƌďLJ
ŶŶƵĂůZĞƉŽƌƚϤϢϣϪŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ^ŝŵĞĂƌďLJĞƌŚĂĚ͛ƐŝŶƚĞƌŶĂů
ƐƵƐƚĂŝŶĂďŝůŝƚLJƌĞƉŽƌƟŶŐŐƵŝĚĞůŝŶĞƐĂŶĚƉƌŽĐĞĚƵƌĞƐ͘
dŚŝƐ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŝŶĐůƵĚĞƐ ƚŚĞ ƐĞůĞĐƟŽŶ ĂŶĚ ĂƉƉůŝĐĂƟŽŶ ŽĨ
ĂƉƉƌŽƉƌŝĂƚĞŵĞƚŚŽĚƐƚŽƉƌĞƉĂƌĞƚŚĞ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶƌĞƉŽƌƚĞĚ
ŝŶ ƚŚĞ ^ŝŵĞ ĂƌďLJ ŶŶƵĂů ZĞƉŽƌƚ ϤϢϣϪ ĂƐ ǁĞůů ĂƐ ƚŚĞ ĚĞƐŝŐŶ͕
ŝŵƉůĞŵĞŶƚĂƟŽŶ ĂŶĚ ŵĂŝŶƚĞŶĂŶĐĞ ŽĨ ƉƌŽĐĞƐƐĞƐ ƌĞůĞǀĂŶƚ ĨŽƌ ƚŚĞ
ƉƌĞƉĂƌĂƟŽŶ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŝŶĐůƵĚĞƐ ƚŚĞ ƵƐĞ ŽĨ
ĂƐƐƵŵƉƟŽŶƐ ĂŶĚ ĞƐƟŵĂƚĞƐ ĨŽƌ ĚŝƐĐůŽƐƵƌĞƐ ŵĂĚĞ ďLJ ^ŝŵĞ ĂƌďLJ
ĞƌŚĂĚǁŚŝĐŚĂƌĞƌĞĂƐŽŶĂďůĞŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͘
KhZZ^WKE^//>/dz
KƵƌ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŝƐ ƚŽ ƉƌŽǀŝĚĞ Ă ĐŽŶĐůƵƐŝŽŶ ŽŶ ƚŚĞ ^ƵďũĞĐƚ
DĂƩĞƌ ďĂƐĞĚ ŽŶ ŽƵƌ ůŝŵŝƚĞĚ ĂƐƐƵƌĂŶĐĞ ĞŶŐĂŐĞŵĞŶƚ ƉĞƌĨŽƌŵĞĚ ŝŶ
ĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞĂƉƉƌŽǀĞĚƐƚĂŶĚĂƌĚĨŽƌĂƐƐƵƌĂŶĐĞĞŶŐĂŐĞŵĞŶƚƐ
ŝŶ DĂůĂLJƐŝĂ͕ /ŶƚĞƌŶĂƟŽŶĂů ^ƚĂŶĚĂƌĚ ŽŶ ƐƐƵƌĂŶĐĞ ŶŐĂŐĞŵĞŶƚƐ
;/^ͿϥϢϢϢ͞ƐƐƵƌĂŶĐĞŶŐĂŐĞŵĞŶƚƐKƚŚĞƌdŚĂŶƵĚŝƚƐŽƌZĞǀŝĞǁƐ
ŽĨ ,ŝƐƚŽƌŝĐĂů &ŝŶĂŶĐŝĂů /ŶĨŽƌŵĂƟŽŶ͘͟ dŚŝƐ ƐƚĂŶĚĂƌĚ ƌĞƋƵŝƌĞƐ ƚŚĂƚ
ǁĞ ĐŽŵƉůLJ ǁŝƚŚ ĞƚŚŝĐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ͕ ĂŶĚ ƉůĂŶ ĂŶĚ ƉĞƌĨŽƌŵ ƚŚĞ
ĂƐƐƵƌĂŶĐĞĞŶŐĂŐĞŵĞŶƚƵŶĚĞƌĐŽŶƐŝĚĞƌĂƟŽŶŽĨŵĂƚĞƌŝĂůŝƚLJƚŽĞdžƉƌĞƐƐ
ŽƵƌĐŽŶĐůƵƐŝŽŶǁŝƚŚůŝŵŝƚĞĚĂƐƐƵƌĂŶĐĞ͘
page 322
dŚĞ ĂĐĐƵƌĂĐLJ ŽĨ ƚŚĞ ^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ ŝƐ ƐƵďũĞĐƚ ƚŽ ŝŶŚĞƌĞŶƚ
ůŝŵŝƚĂƟŽŶƐ ŐŝǀĞŶ ƚŚĞŝƌ ŶĂƚƵƌĞ ĂŶĚ ŵĞƚŚŽĚƐ ĨŽƌ ĚĞƚĞƌŵŝŶŝŶŐ͕
ĐĂůĐƵůĂƟŶŐĂŶĚĞƐƟŵĂƟŶŐƐƵĐŚĚĂƚĂ͘
KƵƌůŝŵŝƚĞĚĂƐƐƵƌĂŶĐĞƌĞƉŽƌƚƐŚŽƵůĚƚŚĞƌĞĨŽƌĞďĞƌĞĂĚŝŶĐŽŶŶĞĐƟŽŶ
ǁŝƚŚ ^ŝŵĞ ĂƌďLJ ĞƌŚĂĚ͛Ɛ ƐƵƐƚĂŝŶĂďŝůŝƚLJ ƌĞƉŽƌƟŶŐ ŐƵŝĚĞůŝŶĞƐ ĂŶĚ
ƉƌŽĐĞĚƵƌĞƐŽŶƚŚĞƌĞƉŽƌƟŶŐŽĨŝƚƐƐƵƐƚĂŝŶĂďŝůŝƚLJƉĞƌĨŽƌŵĂŶĐĞ͘
/Ŷ Ă ůŝŵŝƚĞĚ ĂƐƐƵƌĂŶĐĞ ĞŶŐĂŐĞŵĞŶƚ͕ ƚŚĞ ĞǀŝĚĞŶĐĞͲŐĂƚŚĞƌŝŶŐ
ƉƌŽĐĞĚƵƌĞƐ ĂƌĞ ŵŽƌĞ ůŝŵŝƚĞĚ ƚŚĂŶ ĨŽƌ Ă ƌĞĂƐŽŶĂďůĞ ĂƐƐƵƌĂŶĐĞ
ĞŶŐĂŐĞŵĞŶƚ͕ ĂŶĚ ƚŚĞƌĞĨŽƌĞ ůĞƐƐ ĂƐƐƵƌĂŶĐĞ ŝƐ ŽďƚĂŝŶĞĚ ƚŚĂŶ ŝŶ Ă
ƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĞŶŐĂŐĞŵĞŶƚ͘
SUBJECT MATTER
dŚĞĨŽůůŽǁŝŶŐŝŶĨŽƌŵĂƟŽŶĐŽůůĞĐƟǀĞůLJŬŶŽǁŶĂƐ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶ
ŽŶǁŚŝĐŚǁĞƉƌŽǀŝĚĞůŝŵŝƚĞĚĂƐƐƵƌĂŶĐĞĐŽŶƐŝƐƚƐŽĨƚŚĞŵĂŶĂŐĞŵĞŶƚ
ĂŶĚ ƌĞƉŽƌƟŶŐ ƉƌŽĐĞƐƐĞƐ ǁŝƚŚ ƌĞƐƉĞĐƚ ƚŽ ƚŚĞ ƉƌĞƉĂƌĂƟŽŶ ŽĨ ƚŚĞ
ĨŽůůŽǁŝŶŐ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶƌĞƉŽƌƚĞĚĂŶĚŵĂƌŬĞĚǁŝƚŚĂƐƚĞƌŝƐŬƐ
;ΎͿŝŶ^ŝŵĞĂƌďLJŶŶƵĂůZĞƉŽƌƚϤϢϣϪ͗
ϣ͘ ;>d/&ZͿĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϥϢ:ƵŶĞϤϢϣϪ͘
CRITERIA
^ŝŵĞĂƌďLJĞƌŚĂĚ͛ƐŝŶƚĞƌŶĂůƐƵƐƚĂŝŶĂďŝůŝƚLJƌĞƉŽƌƟŶŐŐƵŝĚĞůŝŶĞƐĂŶĚ
ƉƌŽĐĞĚƵƌĞƐďLJǁŚŝĐŚƚŚĞ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶŝƐŐĂƚŚĞƌĞĚ͕ĐŽůůĂƚĞĚ
ĂŶĚĂŐŐƌĞŐĂƚĞĚŝŶƚĞƌŶĂůůLJ͘
SIME DARBY BERHAD
MAIN ASSURANCE PROCEDURES
KƵƌǁŽƌŬ͕ǁŚŝĐŚŝŶǀŽůǀĞĚŶŽŝŶĚĞƉĞŶĚĞŶƚĞdžĂŵŝŶĂƟŽŶŽĨĂŶLJŽĨƚŚĞ
ƵŶĚĞƌůLJŝŶŐĮŶĂŶĐŝĂůŝŶĨŽƌŵĂƟŽŶ͕ŝŶĐůƵĚĞĚƚŚĞĨŽůůŽǁŝŶŐƉƌŽĐĞĚƵƌĞƐ͗
ͻ /ŶƋƵŝƌŝĞƐ ŽĨ ƉĞƌƐŽŶŶĞů ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ƚŚĞ ^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ
ƌĞƉŽƌƚĞĚ ŝŶ ^ŝŵĞ ĂƌďLJ ŶŶƵĂů ZĞƉŽƌƚ ϤϢϣϪ ƌĞŐĂƌĚŝŶŐ ƚŚĞ
ƉƌŽĐĞƐƐĞƐƚŽƉƌĞƉĂƌĞƚŚĞƐĂŝĚƌĞƉŽƌƚĂŶĚƚŚĞƵŶĚĞƌůLJŝŶŐĐŽŶƚƌŽůƐ
ŽǀĞƌƚŚŽƐĞƉƌŽĐĞƐƐĞƐ͖
ͻ /ŶƋƵŝƌŝĞƐ ŽĨ ƉĞƌƐŽŶŶĞů ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĚĂƚĂ ĐŽůůĞĐƟŽŶ Ăƚ ƚŚĞ
ĐŽƌƉŽƌĂƚĞĂŶĚŽƉĞƌĂƟŽŶƵŶŝƚůĞǀĞůĨŽƌƚŚĞ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶ͖
ͻ /ŶƐƉĞĐƟŽŶ ŽŶ Ă ƐĂŵƉůĞ ďĂƐŝƐ ŽĨ ŝŶƚĞƌŶĂů ĚŽĐƵŵĞŶƚƐ͕ ĐŽŶƚƌĂĐƚƐ͕
ƌĞƉŽƌƚƐ͕ĚĂƚĂĐĂƉƚƵƌĞĨŽƌŵƐĂŶĚŝŶǀŽŝĐĞƐƚŽƐƵƉƉŽƌƚƚŚĞ^ĞůĞĐƚĞĚ
/ŶĨŽƌŵĂƟŽŶĨŽƌĂĐĐƵƌĂĐLJŝŶĐůƵĚŝŶŐŽďƐĞƌǀĂƟŽŶŽĨŵĂŶĂŐĞŵĞŶƚ͛Ɛ
ĐŽŶƚƌŽůƐŽǀĞƌƚŚĞƉƌŽĐĞƐƐĞƐ͖
ͻ /ŶƋƵŝƌŝĞƐ ŽĨ ƉĞƌƐŽŶŶĞů ŽŶ ƚŚĞ ĐŽůůĂƟŽŶ ĂŶĚ ƌĞƉŽƌƟŶŐ ŽĨ ƚŚĞ
^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ Ăƚ ƚŚĞ ĐŽƌƉŽƌĂƚĞ ĂŶĚ ŽƉĞƌĂƟŽŶ ƵŶŝƚ ůĞǀĞů͖
ĂŶĚ
ͻ ŚĞĐŬŝŶŐ ƚŚĞ ĨŽƌŵƵůĂƐ͕ ƉƌŽdžŝĞƐ ĂŶĚ ĚĞĨĂƵůƚ ǀĂůƵĞƐ ƵƐĞĚ ŝŶ ƚŚĞ
^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ ĂŐĂŝŶƐƚ ^ŝŵĞ ĂƌďLJ ĞƌŚĂĚ͛Ɛ ƐƵƐƚĂŝŶĂďŝůŝƚLJ
ƌĞƉŽƌƟŶŐŐƵŝĚĞůŝŶĞƐĂŶĚƉƌŽĐĞĚƵƌĞƐ͘
/EWEEEYh>/dzKEdZK>
tĞ ŚĂǀĞ ĐŽŵƉůŝĞĚ ǁŝƚŚ ƚŚĞ ƌĞůĞǀĂŶƚ ŝŶĚĞƉĞŶĚĞŶĐĞ ƌĞƋƵŝƌĞŵĞŶƚƐ
ĂŶĚŽƚŚĞƌĞƚŚŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞ/ŶƚĞƌŶĂƟŽŶĂůƚŚŝĐƐ^ƚĂŶĚĂƌĚƐ
ŽĂƌĚĨŽƌĐĐŽƵŶƚĂŶƚƐ͛ŽĚĞŽĨƚŚŝĐƐĨŽƌWƌŽĨĞƐƐŝŽŶĂůĐĐŽƵŶƚĂŶƚƐ͕
ǁŚŝĐŚ ĂƌĞ ĨŽƵŶĚĞĚ ŽŶ ĨƵŶĚĂŵĞŶƚĂů ƉƌŝŶĐŝƉůĞƐ ŽĨ ŝŶƚĞŐƌŝƚLJ͕
ŽďũĞĐƟǀŝƚLJ͕ ƉƌŽĨĞƐƐŝŽŶĂů ĐŽŵƉĞƚĞŶĐĞ ĂŶĚ ĚƵĞ ĐĂƌĞ͕ ĐŽŶĮĚĞŶƟĂůŝƚLJ
ĂŶĚƉƌŽĨĞƐƐŝŽŶĂůďĞŚĂǀŝŽƵƌ͘
tĞĂƉƉůLJ/ŶƚĞƌŶĂƟŽŶĂů^ƚĂŶĚĂƌĚŽŶYƵĂůŝƚLJŽŶƚƌŽůϣ͞YƵĂůŝƚLJŽŶƚƌŽů
ĨŽƌ&ŝƌŵƐƚŚĂƚWĞƌĨŽƌŵƵĚŝƚƐĂŶĚZĞǀŝĞǁƐŽĨ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͕
ĂŶĚ KƚŚĞƌ ƐƐƵƌĂŶĐĞ ĂŶĚ ZĞůĂƚĞĚ ^ĞƌǀŝĐĞƐ ŶŐĂŐĞŵĞŶƚƐ͕͟ ĂŶĚ
ĂĐĐŽƌĚŝŶŐůLJ ŵĂŝŶƚĂŝŶ Ă ĐŽŵƉƌĞŚĞŶƐŝǀĞ ƐLJƐƚĞŵ ŽĨ ƋƵĂůŝƚLJ ĐŽŶƚƌŽů
ŝŶĐůƵĚŝŶŐĚŽĐƵŵĞŶƚĞĚƉŽůŝĐŝĞƐĂŶĚƉƌŽĐĞĚƵƌĞƐƌĞŐĂƌĚŝŶŐĐŽŵƉůŝĂŶĐĞ
ǁŝƚŚ ĞƚŚŝĐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ͕ ƉƌŽĨĞƐƐŝŽŶĂů ƐƚĂŶĚĂƌĚƐ ĂŶĚ ĂƉƉůŝĐĂďůĞ
ůĞŐĂůĂŶĚƌĞŐƵůĂƚŽƌLJƌĞƋƵŝƌĞŵĞŶƚƐ͘
ANNUAL REPORT 2018
CONCLUSION
ĂƐĞĚŽŶŽƵƌůŝŵŝƚĞĚĂƐƐƵƌĂŶĐĞĞŶŐĂŐĞŵĞŶƚ͕ŝŶĂůůŵĂƚĞƌŝĂůĂƐƉĞĐƚƐ͕
ŶŽƚŚŝŶŐ ŚĂƐ ĐŽŵĞ ƚŽ ŽƵƌ ĂƩĞŶƟŽŶ ƚŚĂƚ ĐĂƵƐĞƐ ƵƐ ƚŽ ďĞůŝĞǀĞ ƚŚĂƚ
ƚŚĞ^ĞůĞĐƚĞĚ/ŶĨŽƌŵĂƟŽŶŝŶƚŚĞ^ƵďũĞĐƚDĂƩĞƌŚĂƐŶŽƚďĞĞŶĨĂŝƌůLJ
ƐƚĂƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ^ŝŵĞĂƌďLJĞƌŚĂĚ͛ƐŝŶƚĞƌŶĂůƐƵƐƚĂŝŶĂďŝůŝƚLJ
ƌĞƉŽƌƟŶŐŐƵŝĚĞůŝŶĞƐ͘
RESTRICTION ON USE
dŚŝƐ ƌĞƉŽƌƚ͕ ŝŶĐůƵĚŝŶŐ ŽƵƌ ĐŽŶĐůƵƐŝŽŶƐ͕ ŚĂƐ ďĞĞŶ ƉƌĞƉĂƌĞĚ ƐŽůĞůLJ
ĨŽƌ ƚŚĞ ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ŽĨ ^ŝŵĞ ĂƌďLJ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ
ĂŐƌĞĞŵĞŶƚďĞƚǁĞĞŶƵƐ͕ŝŶĐŽŶŶĞĐƟŽŶǁŝƚŚƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨĂŶ
ŝŶĚĞƉĞŶĚĞŶƚ ůŝŵŝƚĞĚ ĂƐƐƵƌĂŶĐĞ ŽŶ ƚŚĞ ^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ ŝŶ ƚŚĞ
^ƵďũĞĐƚDĂƩĞƌĂƐƌĞƉŽƌƚĞĚďLJ^ŝŵĞĂƌďLJĞƌŚĂĚŝŶŝƚƐ^ŝŵĞĂƌďLJ
ŶŶƵĂůZĞƉŽƌƚϤϢϣϪ͘ĐĐŽƌĚŝŶŐůLJ͕ƚŚŝƐƌĞƉŽƌƚƐŚŽƵůĚŶŽƚďĞƵƐĞĚŽƌ
ƌĞůŝĞĚƵƉŽŶĨŽƌĂŶLJŽƚŚĞƌƉƵƌƉŽƐĞƐ͘tĞĐŽŶƐĞŶƚƚŽƚŚĞŝŶĐůƵƐŝŽŶŽĨ
ƚŚŝƐƌĞƉŽƌƚŝŶƚŚĞ^ŝŵĞĂƌďLJŶŶƵĂůZĞƉŽƌƚϤϢϣϪĂŶĚƚŽďĞĚŝƐĐůŽƐĞĚ
ŽŶůŝŶĞ Ăƚ ǁǁǁ͘ƐŝŵĞĚĂƌďLJ͘ĐŽŵ͕ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞ ϤϢϣϪ ĮŶĂŶĐŝĂů
LJĞĂƌ͕ ƚŽ ĂƐƐŝƐƚ ƚŚĞ ŝƌĞĐƚŽƌƐ ŝŶ ƌĞƐƉŽŶĚŝŶŐ ƚŽ ƚŚĞŝƌ ŐŽǀĞƌŶĂŶĐĞ
ƌĞƐƉŽŶƐŝďŝůŝƟĞƐ ďLJ ŽďƚĂŝŶŝŶŐ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ĂƐƐƵƌĂŶĐĞ ƌĞƉŽƌƚ ŝŶ
ĐŽŶŶĞĐƟŽŶ ǁŝƚŚ ƚŚĞ ^ĞůĞĐƚĞĚ /ŶĨŽƌŵĂƟŽŶ͘ Ɛ Ă ƌĞƐƵůƚ͕ ǁĞ ǁŝůů ŶŽƚ
ĂĐĐĞƉƚ ĂŶLJ ůŝĂďŝůŝƚLJ Žƌ ĂƐƐƵŵĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ƚŽ ĂŶLJ ŽƚŚĞƌ ƉĂƌƚLJ ƚŽ
ǁŚŽŵŽƵƌƌĞƉŽƌƚŝƐƐŚŽǁŶŽƌŝŶƚŽǁŚŽƐĞŚĂŶĚƐŝƚŵĂLJĐŽŵĞ͘ŶLJ
ƌĞůŝĂŶĐĞŽŶƚŚŝƐƌĞƉŽƌƚďLJĂŶLJƚŚŝƌĚƉĂƌƚLJŝƐĞŶƟƌĞůLJĂƚŝƚƐŽǁŶƌŝƐŬ͘
WZ/tdZ,Kh^KKWZ^W>d
>>WϢϢϣϦϦϢϣͲ>Θ&ϣϣϦϨ
ŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐ
<ƵĂůĂ>ƵŵƉƵƌ
ϪKĐƚŽďĞƌϤϢϣϪ
page 323
 EKd//^,Zz'/sE that the dǁĞůŌŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ;͞'D͟ͿŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚ;͞^ŝŵĞĂƌďLJ͟Žƌ͞ŽŵƉĂŶLJ͟Ϳ
ǁŝůůďĞŚĞůĚĂƚƚŚĞ'ƌĂŶĚĂůůƌŽŽŵ͕&ŝƌƐƚ&ůŽŽƌ͕^ŝŵĞĂƌďLJŽŶǀĞŶƟŽŶĞŶƚƌĞ͕ϭ͕:ĂůĂŶƵŬŝƚ<ŝĂƌĂϭ͕ϲϬϬϬϬ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ
ŽŶdŚƵƌƐĚĂLJ͕ϭϱEŽǀĞŵďĞƌϮϬϭϴĂƚϭϬ͘ϬϬĂ͘ŵ͘ĨŽƌƚŚĞĨŽůůŽǁŝŶŐďƵƐŝŶĞƐƐĞƐ͗

dŚƵƌƐĚĂLJ͕ϭϱEŽǀĞŵďĞƌϮϬϭϴĂƚϭϬ͘ϬϬĂ͘ŵ NOTICE OF
'ƌĂŶĚĂůůƌŽŽŵ͕&ŝƌƐƚ&ůŽŽƌ͕^ŝŵĞĂƌďLJ
ŽŶǀĞŶƟŽŶĞŶƚƌĞ͕ϭ͕:ĂůĂŶƵŬŝƚ<ŝĂƌĂϭ͕
ANNUAL GENERAL
ϲϬϬϬϬ<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂ
MEETING
^KZ/EZzh^/E^^

ϭ͘ dŽƌĞĐĞŝǀĞƚŚĞƵĚŝƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞ
ZĞƉŽƌƚƐŽĨƚŚĞŝƌĞĐƚŽƌƐĂŶĚƚŚĞƵĚŝƚŽƌƐƚŚĞƌĞŽŶ͘
Refer to Explanatory Note 1

Ϯ͘ dŽ ĂƉƉƌŽǀĞ ƚŚĞ ƉĂLJŵĞŶƚ ŽĨ ŝƌĞĐƚŽƌƐ͛ ĨĞĞƐ ƚŽ ƚŚĞ EŽŶͲdžĞĐƵƟǀĞ ŝƌĞĐƚŽƌƐ ďĂƐĞĚ ŽŶ ƚŚĞ ƌĞŵƵŶĞƌĂƟŽŶ
ƐƚƌƵĐƚƵƌĞĂƐĚŝƐĐůŽƐĞĚŝŶdžƉůĂŶĂƚŽƌLJEŽƚĞϮĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϭϴ͘ Resolution 1
Refer to Explanatory Note 2

ϯ͘ dŽ ĂƉƉƌŽǀĞ ƚŚĞ ƉĂLJŵĞŶƚ ŽĨ ŝƌĞĐƚŽƌƐ͛ ĨĞĞƐ ƚŽ ƚŚĞ EŽŶͲdžĞĐƵƟǀĞ ŝƌĞĐƚŽƌƐ ďĂƐĞĚ ŽŶ ƚŚĞ ƉƌŽƉŽƐĞĚ
ƌĞŵƵŶĞƌĂƟŽŶƐƚƌƵĐƚƵƌĞĂƐĚŝƐĐůŽƐĞĚŝŶdžƉůĂŶĂƚŽƌLJEŽƚĞϯĨŽƌƚŚĞƉĞƌŝŽĚĨƌŽŵϭ:ƵůLJϮϬϭϴƵŶƟůƚŚĞŶĞdžƚ
'DŽĨƚŚĞŽŵƉĂŶLJ͘ Resolution 2
Refer to Explanatory Note 3

ϰ͘ dŽĂƉƉƌŽǀĞƚŚĞƉĂLJŵĞŶƚŽĨďĞŶĞĮƚƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐƵƉƚŽĂŶĂŵŽƵŶƚŽĨZDϮ͘ϬŵŝůůŝŽŶĨƌŽŵ
ƚŚĞdǁĞůŌŚ'DƵŶƟůƚŚĞŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJ͘ Resolution 3
Refer to Explanatory Note 4

ϱ͘ dŽĞůĞĐƚƚŚĞĨŽůůŽǁŝŶŐŝƌĞĐƚŽƌƐǁŚŽƌĞƟƌĞƉƵƌƐƵĂŶƚƚŽZƵůĞϴϯ͘ϮŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJĂŶĚǁŚŽ
ďĞŝŶŐĞůŝŐŝďůĞ͕ŽīĞƌƚŚĞŵƐĞůǀĞƐĨŽƌĞůĞĐƟŽŶ͗

;ŝͿ dĂŶ^ƌŝĂƚŽ͛DŽŚĂŵĞĚnjŵĂŶzĂŚLJĂ Resolution 4

;ŝŝͿ ĂƚŽ͛^ƌŝďĚƵů,ĂŵŝĚLJďĚƵů,ĂĮnj Resolution 5
;ŝŝŝͿ ĂƚŽ͛ŚŵĂĚWĂƌĚĂƐ^ĞŶŝŶ Resolution 6
;ŝǀͿ dŚĂLJĂƉĂƌĂŶ^ĂŶŐĂƌĂƉŝůůĂŝ Resolution 7
;ǀͿ :Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ Resolution 8
;ǀŝͿ ĂƚŽ͛>ĂǁƌĞŶĐĞ>ĞĞŚĞŽǁ,ŽĐŬ Resolution 9
;ǀŝŝͿ DŽLJWƵŝzĞĞ Resolution 10
Refer to Explanatory Note 5

ϲ͘ dŽƌĞͲĞůĞĐƚƚŚĞĨŽůůŽǁŝŶŐŝƌĞĐƚŽƌƐǁŚŽƌĞƟƌĞƉƵƌƐƵĂŶƚƚŽZƵůĞϭϬϰŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJĂŶĚ
ǁŚŽďĞŝŶŐĞůŝŐŝďůĞ͕ŽīĞƌƚŚĞŵƐĞůǀĞƐĨŽƌƌĞͲĞůĞĐƟŽŶ͗

;ŝͿ dĂŶ^ƌŝĂƚŽ͛^ƌŝƌtĂŶďĚƵůnjŝnjtĂŶďĚƵůůĂŚ Resolution 11

;ŝŝͿ ĂƚƵŬtĂŶ^ĞůĂŵĂŚtĂŶ^ƵůĂŝŵĂŶ Resolution 12
Refer to Explanatory Note 5

ϳ͘ dŽƌĞͲĂƉƉŽŝŶƚDĞƐƐƌƐWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐW>dĂƐƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚŝŶŐ
ϯϬ:ƵŶĞϮϬϭϵĂŶĚƚŽĂƵƚŚŽƌŝƐĞƚŚĞŝƌĞĐƚŽƌƐƚŽĚĞƚĞƌŵŝŶĞƚŚĞŝƌƌĞŵƵŶĞƌĂƟŽŶ͘ Resolution 13
Refer to Explanatory Note 6

page 324 SIME DARBY BERHAD

AS SPECIAL BUSINESS

ϴ͘ dŽĐŽŶƐŝĚĞƌĂŶĚ͕ŝĨƚŚŽƵŐŚƚĮƚ͕ƉĂƐƐƚŚĞĨŽůůŽǁŝŶŐKƌĚŝŶĂƌLJZĞƐŽůƵƟŽŶƐ͗

(i) Proposed Share Buy-Back Authority for the Company to Purchase its Own Shares of up to Ten Percent
(10%) of the Total Number of Issued Shares of the Company (“Proposed Share Buy-Back”)

 ͞d,d ƚŚĞ ŝƌĞĐƚŽƌƐ ďĞ ĂŶĚ ĂƌĞ ŚĞƌĞďLJ ĂƵƚŚŽƌŝƐĞĚ ƚŽ ƉƵƌĐŚĂƐĞ ƚŚĞ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ
ƚŚƌŽƵŐŚ ƚŚĞ ƐƚŽĐŬ ĞdžĐŚĂŶŐĞ ŽĨ ƵƌƐĂ DĂůĂLJƐŝĂ ^ĞĐƵƌŝƟĞƐ ĞƌŚĂĚ Ăƚ ĂŶLJ ƟŵĞ ƵƉŽŶ ƐƵĐŚ ƚĞƌŵƐ ĂŶĚ
ĐŽŶĚŝƟŽŶƐĂƐƚŚĞŝƌĞĐƚŽƌƐŝŶƚŚĞŝƌĂďƐŽůƵƚĞĚŝƐĐƌĞƟŽŶĚĞĞŵĮƚƉƌŽǀŝĚĞĚƚŚĂƚ͗

;ĂͿ ƚŚĞĂŐŐƌĞŐĂƚĞŶƵŵďĞƌŽĨƐŚĂƌĞƐƉƵƌĐŚĂƐĞĚ;ǁŚŝĐŚĂƌĞƚŽďĞƚƌĞĂƚĞĚĂƐƚƌĞĂƐƵƌLJƐŚĂƌĞƐͿĚŽĞƐŶŽƚ
ĞdžĐĞĞĚƚĞŶƉĞƌĐĞŶƚ;ϭϬйͿŽĨƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨŝƐƐƵĞĚƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJ͖ĂŶĚ
;ďͿ ƚŚĞĨƵŶĚƐĂůůŽĐĂƚĞĚĨŽƌƚŚĞƉƵƌĐŚĂƐĞŽĨƐŚĂƌĞƐƐŚĂůůŶŽƚĞdžĐĞĞĚŝƚƐƌĞƚĂŝŶĞĚƉƌŽĮƚƐ͘

 Ed,dƚŚĞŝƌĞĐƚŽƌƐďĞĂŶĚĂƌĞŚĞƌĞďLJĨƵƌƚŚĞƌĂƵƚŚŽƌŝƐĞĚƚŽĚĞĂůǁŝƚŚƚŚĞƚƌĞĂƐƵƌLJƐŚĂƌĞƐŝŶƚŚĞŝƌ
ĂďƐŽůƵƚĞĚŝƐĐƌĞƟŽŶ;ǁŚŝĐŚŵĂLJďĞĚŝƐƚƌŝďƵƚĞĚĂƐĚŝǀŝĚĞŶĚƐ͕ƌĞƐŽůĚ͕ƚƌĂŶƐĨĞƌƌĞĚ͕ĐĂŶĐĞůůĞĚĂŶĚͬŽƌŝŶĂŶLJ
ŽƚŚĞƌ ŵĂŶŶĞƌƐ ĂƐ ƉƌĞƐĐƌŝďĞĚ ďLJ ƚŚĞ ŽŵƉĂŶŝĞƐ Đƚ ϮϬϭϲ͕ ĂŶĚ ƚŚĞ ƌĞůĞǀĂŶƚ ƌƵůĞƐ͕ ƌĞŐƵůĂƟŽŶƐ ĂŶĚͬŽƌ
ƌĞƋƵŝƌĞŵĞŶƚƐͿ͘

 Ed,dƐƵĐŚĂƵƚŚŽƌŝƚLJƐŚĂůůĐŽŶƟŶƵĞƚŽďĞŝŶĨŽƌĐĞƵŶƟů͗

;ĂͿ ƚŚĞĐŽŶĐůƵƐŝŽŶŽĨƚŚĞŶĞdžƚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ;͞'D͟Ϳ͖Žƌ
;ďͿ ƚŚĞĞdžƉŝƌĂƟŽŶŽĨƚŚĞƉĞƌŝŽĚǁŝƚŚŝŶǁŚŝĐŚƚŚĞŶĞdžƚ'DŝƐƌĞƋƵŝƌĞĚďLJůĂǁƚŽďĞŚĞůĚ͖Žƌ
;ĐͿ ƌĞǀŽŬĞĚŽƌǀĂƌŝĞĚŝŶĂŐĞŶĞƌĂůŵĞĞƟŶŐ͕

 ǁŚŝĐŚĞǀĞƌŝƐƚŚĞĞĂƌůŝĞƌ͖

 E d,d ƚŚĞ ŝƌĞĐƚŽƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ďĞ ĂŶĚ ĂƌĞ ŚĞƌĞďLJ ĂƵƚŚŽƌŝƐĞĚ ƚŽ ƚĂŬĞ Ăůů ƐƵĐŚ ƐƚĞƉƐ ĂƐ ĂƌĞ
ŶĞĐĞƐƐĂƌLJŽƌĞdžƉĞĚŝĞŶƚƚŽŝŵƉůĞŵĞŶƚ͕ĮŶĂůŝƐĞĂŶĚŐŝǀĞĨƵůůĞīĞĐƚƚŽƚŚĞWƌŽƉŽƐĞĚ^ŚĂƌĞƵLJͲĂĐŬǁŝƚŚ
ĨƵůůƉŽǁĞƌƚŽĂƐƐĞŶƚƚŽĂŶLJĐŽŶĚŝƟŽŶƐ͕ŵŽĚŝĮĐĂƟŽŶ͕ǀĂƌŝĂƟŽŶƐĂŶĚͬŽƌĂŵĞŶĚŵĞŶƚƐĂƐŵĂLJďĞŝŵƉŽƐĞĚ
ďLJƚŚĞƌĞůĞǀĂŶƚĂƵƚŚŽƌŝƟĞƐ͘͟ Resolution 14
Refer to Explanatory Note 7

(ii) WƌŽƉŽƐĞĚ^ŚĂƌĞŚŽůĚĞƌƐ͛DĂŶĚĂƚĞĨŽƌZĞĐƵƌƌĞŶƚZĞůĂƚĞĚWĂƌƚLJdƌĂŶƐĂĐƟŽŶƐŽĨĂZĞǀĞŶƵĞŽƌdƌĂĚŝŶŐ
Nature

 ͞d,d͕ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ WĂƌĂŐƌĂƉŚ ϭϬ͘Ϭϵ ŽĨ ƚŚĞ DĂŝŶ DĂƌŬĞƚ >ŝƐƟŶŐ ZĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ƵƌƐĂ
DĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚ;͞ƵƌƐĂ^ĞĐƵƌŝƟĞƐ͟Ϳ͕ĂŶĚƐƵďũĞĐƚƚŽƚŚĞŽŵƉĂŶŝĞƐĐƚϮϬϭϲ;͞ϮϬϭϲ͟Ϳ͕
ƚŚĞ ŽŶƐƟƚƵƟŽŶ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͕ ŽƚŚĞƌ ĂƉƉůŝĐĂďůĞ ůĂǁƐ͕ ŐƵŝĚĞůŝŶĞƐ͕ ƌƵůĞƐ ĂŶĚ ƌĞŐƵůĂƟŽŶƐ͕ ĂŶĚ ƚŚĞ
ĂƉƉƌŽǀĂůƐŽĨƚŚĞƌĞůĞǀĂŶƚŐŽǀĞƌŶŵĞŶƚĂůĂŶĚͬŽƌƌĞŐƵůĂƚŽƌLJĂƵƚŚŽƌŝƟĞƐ͕ĂƉƉƌŽǀĂůďĞĂŶĚŝƐŚĞƌĞďLJŐŝǀĞŶ
ƚŽƚŚĞŽŵƉĂŶLJĂŶĚͬŽƌŝƚƐƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐƚŽĞŶƚĞƌŝŶƚŽƌĞĐƵƌƌĞŶƚƌĞůĂƚĞĚƉĂƌƚLJƚƌĂŶƐĂĐƟŽŶƐŽĨ
ĂƌĞǀĞŶƵĞŽƌƚƌĂĚŝŶŐŶĂƚƵƌĞ͕ĂƐƐĞƚŽƵƚŝŶ^ĞĐƟŽŶϮ͘ϯŽĨWĂƌƚŽĨƚŚĞŝƌĐƵůĂƌƚŽ^ŚĂƌĞŚŽůĚĞƌƐĚĂƚĞĚ
ϭϳKĐƚŽďĞƌϮϬϭϴĚĞƐƉĂƚĐŚĞĚƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞŶŶƵĂůZĞƉŽƌƚ͕ǁŚŝĐŚĂƌĞŶĞĐĞƐƐĂƌLJĨŽƌƚŚĞĚĂLJͲƚŽͲĚĂLJ
ŽƉĞƌĂƟŽŶƐŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚͬŽƌŝƚƐƐƵďƐŝĚŝĂƌLJĐŽŵƉĂŶŝĞƐŽŶŶŽƌŵĂů
ĐŽŵŵĞƌĐŝĂůƚĞƌŵƐǁŚŝĐŚĂƌĞŶŽƚŵŽƌĞĨĂǀŽƵƌĂďůĞƚŽƚŚĞƌĞůĂƚĞĚƉĂƌƟĞƐƚŚĂŶƚŚŽƐĞŐĞŶĞƌĂůůLJĂǀĂŝůĂďůĞ
ƚŽƚŚĞƉƵďůŝĐ͕ƵŶĚĞƌƚĂŬĞŶŽŶĂƌŵ͛ƐůĞŶŐƚŚďĂƐŝƐ͕ĂŶĚĂƌĞŶŽƚĚĞƚƌŝŵĞŶƚĂůƚŽƚŚĞŵŝŶŽƌŝƚLJƐŚĂƌĞŚŽůĚĞƌƐŽĨ
ƚŚĞŽŵƉĂŶLJ;͞DĂŶĚĂƚĞ͟Ϳ͖

 d,dƚŚĞDĂŶĚĂƚĞƐŚĂůůĐŽŶƟŶƵĞƚŽďĞŝŶĨŽƌĐĞƵŶƟů͗

;ĂͿ ƚŚĞĐŽŶĐůƵƐŝŽŶŽĨƚŚĞŶĞdžƚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ;͞'D͟ͿŽĨƚŚĞŽŵƉĂŶLJĨŽůůŽǁŝŶŐƚŚŝƐ'DĂƚ
ǁŚŝĐŚƐƵĐŚDĂŶĚĂƚĞŝƐƉĂƐƐĞĚ͕ĂƚǁŚŝĐŚƟŵĞŝƚǁŝůůůĂƉƐĞ͕ƵŶůĞƐƐďLJĂŶŽƌĚŝŶĂƌLJƌĞƐŽůƵƟŽŶƉĂƐƐĞĚĂƚ
ƚŚĂƚŵĞĞƟŶŐǁŚĞƌĞďLJƚŚĞDĂŶĚĂƚĞŝƐƌĞŶĞǁĞĚ͖Žƌ
;ďͿ ƚŚĞĞdžƉŝƌĂƟŽŶŽĨƚŚĞƉĞƌŝŽĚǁŝƚŚŝŶǁŚŝĐŚƚŚĞŶĞdžƚ'DŝƐƌĞƋƵŝƌĞĚƚŽďĞŚĞůĚƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶ
ϯϰϬ;ϮͿŽĨϮϬϭϲ͕;ďƵƚƐŚĂůůŶŽƚĞdžƚĞŶĚƚŽƐƵĐŚĞdžƚĞŶƐŝŽŶƐĂƐŵĂLJďĞĂůůŽǁĞĚƉƵƌƐƵĂŶƚƚŽ^ĞĐƟŽŶ
ϯϰϬ;ϰͿŽĨϮϬϭϲͿ͖Žƌ
;ĐͿ ƚŚĞDĂŶĚĂƚĞŝƐƌĞǀŽŬĞĚŽƌǀĂƌŝĞĚďLJŽƌĚŝŶĂƌLJƌĞƐŽůƵƟŽŶƉĂƐƐĞĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ
ŝŶĂŐĞŶĞƌĂůŵĞĞƟŶŐ͕

ANNUAL REPORT 2018 page 325

  ǁŚŝĐŚĞǀĞƌŝƐƚŚĞĞĂƌůŝĞƌ͖

 Ed,dƚŚĞŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚͬŽƌĂŶLJŽĨƚŚĞŵďĞĂŶĚĂƌĞͬŝƐŚĞƌĞďLJĂƵƚŚŽƌŝƐĞĚƚŽĐŽŵƉůĞƚĞ
ĂŶĚĚŽĂůůƐƵĐŚĂĐƚƐĂŶĚƚŚŝŶŐƐ;ŝŶĐůƵĚŝŶŐĞdžĞĐƵƟŶŐĂůůƐƵĐŚĚŽĐƵŵĞŶƚƐĂƐŵĂLJďĞƌĞƋƵŝƌĞĚͿĂƐƚŚĞLJŵĂLJ
ĐŽŶƐŝĚĞƌĞdžƉĞĚŝĞŶƚŽƌŶĞĐĞƐƐĂƌLJƚŽŐŝǀĞĞīĞĐƚƚŽƚŚĞDĂŶĚĂƚĞ͘͟ Resolution 15
Refer to Explanatory Note 8

(iii) WƌŽƉŽƐĞĚ'ƌĂŶƚƚŽ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶƉƵƌƐƵĂŶƚƚŽƚŚĞWĞƌĨŽƌŵĂŶĐĞͲĂƐĞĚŵƉůŽLJĞĞ^ŚĂƌĞ^ĐŚĞŵĞ
ĨŽƌƚŚĞůŝŐŝďůĞŵƉůŽLJĞĞƐ;ŝŶĐůƵĚŝŶŐdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐͿŽĨ^ŝŵĞĂƌďLJĞƌŚĂĚĂŶĚ/ƚƐ^ƵďƐŝĚŝĂƌŝĞƐ
(excluding subsidiaries which are dormant) (“Scheme”)

 ͞d,dƉƵƌƐƵĂŶƚƚŽƚŚĞ^ĐŚĞŵĞĂƐĂƉƉƌŽǀĞĚďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐĂƚƚŚĞdžƚƌĂŽƌĚŝŶĂƌLJ'ĞŶĞƌĂůDĞĞƟŶŐ
ŚĞůĚŽŶϴEŽǀĞŵďĞƌϮϬϭϮ͕ĂƵƚŚŽƌŝƚLJďĞĂŶĚŝƐŚĞƌĞďLJŐŝǀĞŶƚŽƚŚĞŽĂƌĚŽĨŝƌĞĐƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJ
ƚŽ͕ĂƚĂŶLJƟŵĞĂŶĚĨƌŽŵƟŵĞƚŽƟŵĞ͕ĐĂƵƐĞͬƉƌŽĐƵƌĞƚŚĞŽīĞƌŝŶŐĂŶĚĂůůŽĐĂƟŽŶƚŽ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ͕
ƚŚĞ'ƌŽƵƉŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌŽĨƚŚĞŽŵƉĂŶLJ͕ŽĨƵƉƚŽϮ͕ϱϬϬ͕ϬϬϬŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶƚŚĞŽŵƉĂŶLJ
;͞^ŝŵĞĂƌďLJ^ŚĂƌĞƐ͟ͿǁŚŝĐŚǁŝůůďĞǀĞƐƚĞĚŝŶŚŝŵĂƚĂĨƵƚƵƌĞĚĂƚĞĂŶĚƚŽƉƌŽĐƵƌĞƚŚĞƚƌĂŶƐĨĞƌŽĨƐƵĐŚ
ŶƵŵďĞƌŽĨ^ŝŵĞĂƌďLJ^ŚĂƌĞƐƚŽŚŝŵ͕ĂůůŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞLJͲ>ĂǁƐŽĨƚŚĞ^ĐŚĞŵĞ͘͟ Resolution 16
Refer to Explanatory Note 9

ϵ͘ dŽƚƌĂŶƐĂĐƚĂŶLJŽƚŚĞƌďƵƐŝŶĞƐƐĨŽƌǁŚŝĐŚĚƵĞŶŽƟĐĞƐŚĂůůŚĂǀĞďĞĞŶŐŝǀĞŶŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŽŵƉĂŶŝĞƐ
ĐƚϮϬϭϲĂŶĚƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͘

FURTHER NOTICE IS HEREBY GIVEN THATĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĚĞƚĞƌŵŝŶŝŶŐĂŵĞŵďĞƌǁŚŽƐŚĂůůďĞĞŶƟƚůĞĚƚŽĂƩĞŶĚƚŚŝƐdǁĞůŌŚŶŶƵĂů

'ĞŶĞƌĂůDĞĞƟŶŐ͕ƚŚĞŽŵƉĂŶLJƐŚĂůůďĞƌĞƋƵĞƐƟŶŐƵƌƐĂDĂůĂLJƐŝĂĞƉŽƐŝƚŽƌLJ^ĚŶŚĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϲϱŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞ
ŽŵƉĂŶLJĂŶĚ^ĞĐƟŽŶϯϰ;ϭͿŽĨƚŚĞ^ĞĐƵƌŝƟĞƐ/ŶĚƵƐƚƌLJ;ĞŶƚƌĂůĞƉŽƐŝƚŽƌŝĞƐͿĐƚϭϵϵϭ͕ƚŽŝƐƐƵĞĂ'ĞŶĞƌĂůDĞĞƟŶŐZĞĐŽƌĚŽĨĞƉŽƐŝƚŽƌƐĂƐĂƚ
ϳEŽǀĞŵďĞƌϮϬϭϴ͘KŶůLJĂĚĞƉŽƐŝƚŽƌǁŚŽƐĞŶĂŵĞĂƉƉĞĂƌƐŽŶƚŚĞZĞĐŽƌĚŽĨĞƉŽƐŝƚŽƌƐĂƐĂƚϳEŽǀĞŵďĞƌϮϬϭϴƐŚĂůůďĞĞŶƟƚůĞĚƚŽĂƩĞŶĚƚŚĞ
ƐĂŝĚŵĞĞƟŶŐŽƌĂƉƉŽŝŶƚƉƌŽdžŝĞƐƚŽĂƩĞŶĚĂŶĚͬŽƌǀŽƚĞŽŶŚŝƐͬŚĞƌďĞŚĂůĨ͘

By Order of the Board

EŽŽƌŝƚĂ,ĂƐƐĂŶ;D/ϭϱϬϳϯͿ
'ƌŽƵƉ^ĞĐƌĞƚĂƌLJ

^ĞůĂŶŐŽƌĂƌƵůŚƐĂŶ͕DĂůĂLJƐŝĂ
ϭϳKĐƚŽďĞƌϮϬϭϴ

page 326 SIME DARBY BERHAD

NOTES:

Proxy and/or Authorised Representative

1. A Member entitled to attend and vote at the above Meeting is entitled to appoint not more than two (2) proxies to exercise all or any of
his rights to attend, participate, speak and vote at the Meeting on his/her behalf. Where a Member appoints more than one (1) proxy,
the appointment shall be invalid unless he/she specifies the proportion of his/her shareholdings to be represented by each proxy. A proxy
may, but need not, be a Member of the Company.

2. A Member may appoint any person to be his/her proxy without any restriction as to the qualification of such person.

3. Pursuant to Paragraph 8.29A(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, all resolutions set out in
the Notice of the Twelfth Annual General Meeting (“AGM”) of the Company shall be put to vote by way of a poll.

4. Where a Member of the Company is an Authorised Nominee as defined under the Securities Industry (Central Depositories) Act 1991
(“SICDA”), he/she may appoint not more than two (2) proxies in respect of each Securities Account he/she holds with ordinary shares of
the Company standing to the credit of the said Securities Account to attend and vote at a meeting of the Company instead of him.

5. Where a Member of the Company is an Exempt Authorised Nominee as defined under SICDA which holds ordinary shares in the Company
for multiple beneficial owners in one (1) Securities Account (“Omnibus Account”), there is no limit to the number of proxies which the
Exempt Authorised Nominee may appoint in respect of each Omnibus Account it holds PROVIDED THAT each beneficial owner of ordinary
shares, or where the ordinary shares are held on behalf of joint beneficial owners, such joint beneficial owners, shall only be entitled
to instruct the Exempt Authorised Nominee to appoint not more than two (2) proxies to attend and vote at a general meeting of the
Company instead of the beneficial owner or joint beneficial owners.

6. The instrument appointing a proxy shall be in writing signed by the appointor or his/her attorney duly authorised in writing or, if the
appointor is a corporation, either under its common seal or signed by an officer or attorney so authorised. Any alteration to the instrument
appointing a proxy must be initialled.

7. The Form of Proxy and the Power of Attorney or other authority, if any, under which it is signed or a notarially certified copy of that power
or authority, must be deposited at the office of the Share Registrar of the Company, Tricor Investor & Issuing House Services Sdn Bhd
at Unit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia
before 12.00 p.m. on 14 November 2018 or not less than 24 hours before the time appointed for the taking of the poll at the Twelfth AGM,
whichever is the later.

Explanatory Notes

1. Audited Financial Statements for the Financial Year Ended 30 June 2018

The Audited Financial Statements are laid in accordance with Section 340(1)(a) of the Companies Act 2016 (“CA 2016”) for discussion only.
The Audited Financial Statements do not require shareholders’ approval and as such, will not be put forward for voting to be formally
approved by the shareholders.

2. Resolution 1 - Payment of Directors’ Fees to the Non-Executive Directors for the Financial Year Ended 30 June 2018

Pursuant to Section 230(1) of CA 2016 which came into force on 31 January 2017, fees and benefits payable to the Directors of a listed
company and its subsidiaries shall be approved by shareholders at a general meeting. The Company is requesting for the shareholders’
approval for the payment of fees to the Non-Executive Directors (“NEDs”) of RM3.74 million for the financial year ended 30 June 2018 in
accordance with the remuneration structure set out below:

ANNUAL REPORT 2018 page 327

 Pre Pure-play Post Pure-play
ŽĂƌĚͬŽĂƌĚŽŵŵŝƩĞĞƐ Chairman Member Chairman Member
(RM/Year) (RM/Year) (RM/Year) (RM/Year)
Board 600,000 180,0001 540,000 220,0001
360,000 2
360,0002
'ŽǀĞƌŶĂŶĐĞΘƵĚŝƚŽŵŵŝƩĞĞ 40,000 30,000 80,000 50,000
KƚŚĞƌŽŵŵŝƩĞĞƐ 40,000 30,000 60,000 35,000
&ůĂŐƐŚŝƉ^ƵďƐŝĚŝĂƌŝĞƐ 150,000 100,000 - -
^ƵďƐŝĚŝĂƌLJ - - 150,000 -

 EŽƚĞƐ͗
1
&ĞĞĨŽƌZĞƐŝĚĞŶƚŝƌĞĐƚŽƌ
2
&ĞĞĨŽƌEŽŶͲZĞƐŝĚĞŶƚŝƌĞĐƚŽƌ
 dŚĞƉƵƌĞͲƉůĂLJĞdžĞƌĐŝƐĞŽĨƚŚĞ^ŝŵĞĂƌďLJ'ƌŽƵƉǁĂƐĐŽŵƉůĞƚĞĚŽŶϯϬEŽǀĞŵďĞƌϮϬϭϳ͘

 dŚĞĨĞĞƐŽĨĞĂĐŚŝƌĞĐƚŽƌĂƌĞƐĞƚŽƵƚŝŶƚŚĞŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞKǀĞƌǀŝĞǁ^ƚĂƚĞŵĞŶƚŽŶƉĂŐĞϴϮŽĨƚŚĞŽŵƉĂŶLJ͛ƐŶŶƵĂůZĞƉŽƌƚϮϬϭϴ͘

ϯ͘ ZĞƐŽůƵƟŽŶϮͲWĂLJŵĞŶƚŽĨŝƌĞĐƚŽƌƐ͛&ĞĞƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐĨƌŽŵϭ:ƵůLJϮϬϭϴƚŽƚŚĞŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJ

 dŚĞŽŵƉĂŶLJŝƐƌĞƋƵĞƐƟŶŐĨŽƌƚŚĞƐŚĂƌĞŚŽůĚĞƌƐ͛ĂƉƉƌŽǀĂůĨŽƌƚŚĞƉĂLJŵĞŶƚŽĨĨĞĞƐƚŽƚŚĞEƐĨŽƌƚŚĞƉĞƌŝŽĚĨƌŽŵϭ:ƵůLJϮϬϭϴƚŽƚŚĞŶĞdžƚ
'DŽĨƚŚĞŽŵƉĂŶLJŝŶϮϬϭϵŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƉƌŽƉŽƐĞĚƌĞŵƵŶĞƌĂƟŽŶƐƚƌƵĐƚƵƌĞƐĞƚŽƵƚďĞůŽǁ͗

WƌŽƉŽƐĞĚ&ĞĞ
(RM/Year)
ŽĂƌĚͬŽĂƌĚŽŵŵŝƩĞĞƐ Chairman Member
Board 560,000 240,0001
380,0002
'ŽǀĞƌŶĂŶĐĞΘƵĚŝƚŽŵŵŝƩĞĞ 80,000 50,000
KƚŚĞƌŽŵŵŝƩĞĞƐ 60,000 35,000
^ƵďƐŝĚŝĂƌLJ 150,000 -

 EŽƚĞƐ͗
1
&ĞĞĨŽƌZĞƐŝĚĞŶƚŝƌĞĐƚŽƌ
2
&ĞĞĨŽƌEŽŶͲZĞƐŝĚĞŶƚŝƌĞĐƚŽƌ

 dŚĞƌĞƐŽůƵƟŽŶ͕ŝĨƉĂƐƐĞĚ͕ǁŝůůŐŝǀĞĂƉƉƌŽǀĂůƚŽƚŚĞŽŵƉĂŶLJĂŶĚƚŚĞƐƵďƐŝĚŝĂƌLJƚŽŵĂŬĞƚŚĞƉĂLJŵĞŶƚŽĨĨĞĞƐƚŽƚŚĞEƐŽŶĂƋƵĂƌƚĞƌůLJ
ďĂƐŝƐŝŶƐƚĞĂĚŽĨŝŶĂƌƌĞĂƌƐĂŌĞƌĞǀĞƌLJ'D͘dŚĞĚĞĐŝƐŝŽŶŝŶƌĞƐƉĞĐƚŽĨĨĞĞƐďLJƚŚĞƐƵďƐŝĚŝĂƌLJǁŝůůďĞŵĂĚĞďLJƚŚĞƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞ
ƐƵďƐŝĚŝĂƌLJŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞůĂǁƐĂƉƉůŝĐĂďůĞŝŶŝƚƐũƵƌŝƐĚŝĐƟŽŶ͘

ϰ͘ ZĞƐŽůƵƟŽŶϯͲWĂLJŵĞŶƚŽĨĞŶĞĮƚƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐƵƉƚŽĂŶĂŵŽƵŶƚŽĨZDϮ͘ϬŵŝůůŝŽŶĨƌŽŵƚŚĞdǁĞůŌŚ'DƵŶƟůƚŚĞ
ŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJ

 dŚĞďĞŶĞĮƚƐƉĂLJĂďůĞƚŽƚŚĞEƐĐŽŵƉƌŝƐŝŶŐƚŚĞĨŽůůŽǁŝŶŐ͗

ͻ ŽŵƉĂŶLJĐĂƌ͕ƉĞƚƌŽůĂŶĚĚƌŝǀĞƌĨŽƌƚŚĞEŽŶͲdžĞĐƵƟǀĞŚĂŝƌŵĂŶ
ͻ dĞůĞĐŽŵŵƵŶŝĐĂƟŽŶĚĞǀŝĐĞƐͬĨĂĐŝůŝƟĞƐ
ͻ ůƵďŵĞŵďĞƌƐŚŝƉƐƵďƐĐƌŝƉƟŽŶ
ͻ DĞĚŝĐĂůĂŶĚŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞ
ͻ ŝƐĐŽƵŶƚŽŶƉƵƌĐŚĂƐĞƐŽĨ'ƌŽƵƉͬŽŵƉĂŶLJƉƌŽĚƵĐƚƐŽŶƚĞƌŵƐŶŽƚŵŽƌĞĨĂǀŽƵƌĂďůĞƚŚĂŶƚŚŽƐĞŐŝǀĞŶƚŽƚŚĞƉƵďůŝĐͬĞŵƉůŽLJĞĞƐ
ͻ KƚŚĞƌĐůĂŝŵĂďůĞďĞŶĞĮƚƐŝŶĐůƵĚŝŶŐƌĞŝŵďƵƌƐĂďůĞĞdžƉĞŶƐĞƐŝŶĐƵƌƌĞĚŝŶƚŚĞĐŽƵƌƐĞŽĨĐĂƌƌLJŝŶŐŽƵƚƚŚĞŝƌĚƵƟĞƐĂƐŝƌĞĐƚŽƌƐ

 dŚĞƉĂLJŵĞŶƚŽĨďĞŶĞĮƚƐƚŽƚŚĞEƐǁŝůůďĞŵĂĚĞďLJƚŚĞŽŵƉĂŶLJŽŶĂŵŽŶƚŚůLJďĂƐŝƐĂŶĚͬŽƌĂƐĂŶĚǁŚĞŶŝŶĐƵƌƌĞĚ͘

page 328 SIME DARBY BERHAD

ϱ͘ ZĞƐŽůƵƟŽŶƐ ϰ ƚŽ ϭϮ Ͳ ůĞĐƟŽŶ ĂŶĚ ƌĞͲĞůĞĐƟŽŶ ŽĨ ŝƌĞĐƚŽƌƐ
WƵƌƐƵĂŶƚ ƚŽ ZƵůĞƐ ϴϯ͘Ϯ ĂŶĚ ϭϬϰ ŽĨ ƚŚĞ ŽŶƐƟƚƵƟŽŶ ŽĨ ƚŚĞ
Company
;ŝͿ ZƵůĞϴϯ͘ϮŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJĞdžƉƌĞƐƐůLJƐƚĂƚĞƐ
ƚŚĂƚĂŝƌĞĐƚŽƌĂƉƉŽŝŶƚĞĚďLJƚŚĞŽĂƌĚƐŚĂůůŚŽůĚŽĸĐĞƵŶƟů
ƚŚĞĐŽŶĐůƵƐŝŽŶŽĨƚŚĞŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJĂŶĚƐŚĂůůďĞ
ĞůŝŐŝďůĞĨŽƌĞůĞĐƟŽŶ͘
 dĂŶ^ƌŝĂƚŽ͛DŽŚĂŵĞĚnjŵĂŶzĂŚLJĂ͕ĂƚŽ͛^ƌŝďĚƵů,ĂŵŝĚLJ
ďĚƵů ,ĂĮnj͕ ĂƚŽ͛ ŚŵĂĚ WĂƌĚĂƐ ^ĞŶŝŶ͕ Dƌ dŚĂLJĂƉĂƌĂŶ
^ĂŶŐĂƌĂƉŝůůĂŝ͕ŶĐŝŬ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ͕ĂƚŽ͛>ĂǁƌĞŶĐĞ>ĞĞ
ŚĞŽǁ,ŽĐŬĂŶĚDƐDŽLJWƵŝzĞĞǁĞƌĞĂƉƉŽŝŶƚĞĚĚƵƌŝŶŐƚŚĞ
LJĞĂƌ͕ďĞŝŶŐĞůŝŐŝďůĞ͕ŚĂǀĞŽīĞƌĞĚƚŚĞŵƐĞůǀĞƐĨŽƌĞůĞĐƟŽŶĂƚ
ƚŚĞdǁĞůŌŚ'DƉƵƌƐƵĂŶƚƚŽZƵůĞϴϯ͘ϮŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨ
ƚŚĞŽŵƉĂŶLJ͘
 dĂŶ ^ƌŝ DŽŚĂŵĞĚ njŵĂŶ͕ ĂƚŽ͛ ^ƌŝ ďĚƵů ,ĂŵŝĚLJ͕ ĂƚŽ͛
ŚŵĂĚWĂƌĚĂƐ͕DƌdŚĂLJĂƉĂƌĂŶ͕ŶĐŝŬ:Ğīƌŝ͕ĂƚŽ͛>ĂǁƌĞŶĐĞ
>ĞĞ ĂŶĚ DƐ DŽLJ ŚĂǀĞ ĐŽŵƉůĞƚĞĚ ƚŚĞŝƌ DĂŶĚĂƚŽƌLJ
ĐĐƌĞĚŝƚĂƟŽŶ WƌŽŐƌĂŵŵĞ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƉƌŽǀŝƐŝŽŶ ŽĨ
ƚŚĞ DĂŝŶ DĂƌŬĞƚ >ŝƐƟŶŐ ZĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ƵƌƐĂ DĂůĂLJƐŝĂ
^ĞĐƵƌŝƟĞƐĞƌŚĂĚ;͞DD>Z͟Ϳ͘
;ŝŝͿ ZƵůĞϭϬϯŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJĞdžƉƌĞƐƐůLJƐƚĂƚĞƐ
ƚŚĂƚĂƚĞǀĞƌLJ'D͕ĂƚůĞĂƐƚŽŶĞͲƚŚŝƌĚ;ϭͬϯͿŽĨƚŚĞŝƌĞĐƚŽƌƐĨŽƌ
ƚŚĞƟŵĞďĞŝŶŐƐŚĂůůƌĞƟƌĞĨƌŽŵŽĸĐĞĂƚĞĂĐŚĂŶŶƵĂůŐĞŶĞƌĂů
ŵĞĞƟŶŐ͘ŝƌĞĐƚŽƌƌĞƟƌŝŶŐĂƚĂŵĞĞƟŶŐƐŚĂůůƌĞƚĂŝŶŽĸĐĞ
ƵŶƟů ƚŚĞ ĐŽŶĐůƵƐŝŽŶ ŽĨ ƚŚĞ ŵĞĞƟŶŐ͘ /Ŷ ĂĚĚŝƟŽŶ͕ ZƵůĞ ϭϬϰ
ŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJƐƚĂƚĞƐƚŚĂƚĂůůŝƌĞĐƚŽƌƐ
ƐŚĂůů ƌĞƟƌĞ ĨƌŽŵ ŽĸĐĞ Ăƚ ůĞĂƐƚ ŽŶĐĞ ĞǀĞƌLJ ƚŚƌĞĞ ;ϯͿ LJĞĂƌƐ͘
ƌĞƟƌŝŶŐŝƌĞĐƚŽƌƐŚĂůůďĞĞůŝŐŝďůĞĨŽƌƌĞͲĞůĞĐƟŽŶ͘
 dĂŶ^ƌŝĂƚŽ͛^ƌŝƌtĂŶďĚƵůnjŝnjtĂŶďĚƵůůĂŚĂŶĚĂƚƵŬ
tĂŶ ^ĞůĂŵĂŚ tĂŶ ^ƵůĂŝŵĂŶ͕ ďĞŝŶŐ ĞůŝŐŝďůĞ͕ ŚĂǀĞ ŽīĞƌĞĚ
ƚŚĞŵƐĞůǀĞƐĨŽƌƌĞͲĞůĞĐƟŽŶĂƚƚŚĞdǁĞůŌŚ'DƉƵƌƐƵĂŶƚƚŽ
ZƵůĞϭϬϰŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ͘
 dŚĞŽĂƌĚƌĞĐŽŵŵĞŶĚƐĨŽƌƚŚĞĞůĞĐƟŽŶĂŶĚƌĞͲĞůĞĐƟŽŶŽĨƚŚĞ
ŝƌĞĐƚŽƌƐ͘ ůů ŝƌĞĐƚŽƌƐ ƐƚĂŶĚŝŶŐ ĨŽƌ ĞůĞĐƟŽŶ ĂŶĚ ƌĞͲĞůĞĐƟŽŶ
ŚĂǀĞ ĂďƐƚĂŝŶĞĚ ĨƌŽŵ ĚĞůŝďĞƌĂƟŽŶƐ ĂŶĚ ĚĞĐŝƐŝŽŶƐ ŽŶ ƚŚĞŝƌ ŽǁŶ
ĞůŝŐŝďŝůŝƚLJ ƚŽ ƐƚĂŶĚ ĨŽƌ ĞůĞĐƟŽŶ ĂŶĚ ƌĞͲĞůĞĐƟŽŶ Ăƚ ƚŚĞ ƌĞůĞǀĂŶƚ
EŽŵŝŶĂƟŽŶ Θ ZĞŵƵŶĞƌĂƟŽŶ ŽŵŵŝƩĞĞ ;͞EZ͟Ϳ ĂŶĚ ŽĂƌĚ
ŵĞĞƟŶŐƐ ĂŶĚ ǁŝůů ĐŽŶƟŶƵĞ ƚŽ ĂďƐƚĂŝŶ ĨƌŽŵ ĚĞůŝďĞƌĂƟŽŶƐ ĂŶĚ
ĚĞĐŝƐŝŽŶƐ ŽŶ ƚŚĞŝƌ ŽǁŶ ĞůŝŐŝďŝůŝƚLJ ƚŽ ƐƚĂŶĚ ĨŽƌ ĞůĞĐƟŽŶ ĂŶĚ
ƌĞͲĞůĞĐƟŽŶĂƚƚŚŝƐ'D͘
 ĂƟŶ WĂĚƵŬĂ <ĂƌƟŶŝ ,ũ ďĚƵů DĂŶĂĨ ŚĂƐ ŝŶĨŽƌŵĞĚ ƚŚĞ ŽĂƌĚ
ŝŶ ǁƌŝƟŶŐ ŽĨ ŚĞƌ ŝŶƚĞŶƟŽŶ ƚŽ ƌĞƟƌĞ ĂƐ Ă EŽŶͲ/ŶĚĞƉĞŶĚĞŶƚ
EŽŶͲdžĞĐƵƟǀĞ ŝƌĞĐƚŽƌ ĂŶĚ ƚŚĞƌĞĨŽƌĞ ǁŽƵůĚ ŶŽƚ ďĞ ƐĞĞŬŝŶŐ
ĞůĞĐƟŽŶĂƚƚŚŝƐ'DƵŶĚĞƌZƵůĞϴϯ͘ϮŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞ
ŽŵƉĂŶLJ͘ ,ĞŶĐĞ͕ ƐŚĞ ǁŝůů ƌĞƚĂŝŶ ŽĸĐĞ ƵŶƟů ƚŚĞ ĐŽŶĐůƵƐŝŽŶ ŽĨ
ƚŚŝƐ'DŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϭϬϯŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞ
ŽŵƉĂŶLJ͘
ANNUAL REPORT 2018
ϲ͘ ZĞƐŽůƵƟŽŶϭϯͲZĞͲĂƉƉŽŝŶƚŵĞŶƚŽĨƵĚŝƚŽƌƐ
 dŚĞ'ŽǀĞƌŶĂŶĐĞΘƵĚŝƚŽŵŵŝƩĞĞ;͞'͟ͿĂƚŝƚƐŵĞĞƟŶŐŚĞůĚ
ŽŶϮϭ^ĞƉƚĞŵďĞƌϮϬϭϴƵŶĚĞƌƚŽŽŬƚŚĞĂŶŶƵĂůĂƐƐĞƐƐŵĞŶƚŽĨƚŚĞ
ƐƵŝƚĂďŝůŝƚLJ ĂŶĚ ĞīĞĐƟǀĞŶĞƐƐ ŽĨ ƚŚĞ ĞdžƚĞƌŶĂů ĂƵĚŝƚ ƉƌŽĐĞƐƐ͕ ĂŶĚ
ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ͕ ƐƵŝƚĂďŝůŝƚLJ ĂŶĚ ŝŶĚĞƉĞŶĚĞŶĐĞ ŽĨ ƚŚĞ ĞdžƚĞƌŶĂů
ĂƵĚŝƚŽƌƐ͕ WƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐ W>d ;͞Wǁ͟Ϳ͘ dŚĞ ĨŽůůŽǁŝŶŐ
ĨĂĐƚŽƌƐǁĞƌĞƚĂŬĞŶŝŶƚŽĐŽŶƐŝĚĞƌĂƟŽŶ͗
;ŝͿ ŝƐƐĞŵŝŶĂƟŽŶŽĨŝŶĨŽƌŵĂƟŽŶĂďŽƵƚƉŽůŝĐŝĞƐĂŶĚƉƌŽĐĞƐƐĞƐĨŽƌ
ŵĂŝŶƚĂŝŶŝŶŐŝŶĚĞƉĞŶĚĞŶĐĞ͕ŽďũĞĐƟǀŝƚLJĂŶĚƚŚĞŵŽŶŝƚŽƌŝŶŐŽĨ
Wǁ͛ƐĐŽŵƉůŝĂŶĐĞǁŝƚŚƉƌŽĨĞƐƐŝŽŶĂůĞƚŚŝĐĂůƐƚĂŶĚĂƌĚƐ͖
;ŝŝͿ ŽŵŵƵŶŝĐĂƟŽŶŽĨĂƵĚŝƚƐƚƌĂƚĞŐLJĂŶĚĐƵƌƌĞŶƚĚĞǀĞůŽƉŵĞŶƚƐ
ŝŶƌĞůĂƟŽŶƚŽĂĐĐŽƵŶƟŶŐĂŶĚĂƵĚŝƟŶŐƐƚĂŶĚĂƌĚƐƌĞůĞǀĂŶƚƚŽ
ƚŚĞ'ƌŽƵƉ͛ƐĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚƚŚĞƉŽƚĞŶƟĂůŝŵƉĂĐƚŽŶ
ƚŚĞĂƵĚŝƚ͖
;ŝŝŝͿdŝŵĞůŝŶĞƐƐ ĂŶĚ ƋƵĂůŝƚLJ ŽĨ ĐŽŵŵƵŶŝĐĂƟŽŶ ǁŝƚŚ ƌĞŐĂƌĚ ƚŽ
ƐŝŐŶŝĮĐĂŶƚ ĂƵĚŝƚ͕ ĂĐĐŽƵŶƟŶŐ͕ ƌĞůĂƚĞĚ ƌŝƐŬƐ ĂŶĚ ĐŽŶƚƌŽů
ǁĞĂŬŶĞƐƐĞƐĂŶĚƌĞĐŽŵŵĞŶĚĂƟŽŶƐĂƐǁĞůůĂƐĞīĞĐƟǀĞƵƐĞŽĨ
ŵĞĞƟŶŐƐǁŝƚŚƚŚĞ'ǁŝƚŚŽƵƚŵĂŶĂŐĞŵĞŶƚƉƌĞƐĞŶĐĞ͖
;ŝǀͿŽŵƉĞƚĞŶĐLJŝŶƚŚĞĐŽŽƌĚŝŶĂƟŽŶŽĨƌĞƐŽƵƌĐĞƐĂŶĚƚĞĐŚŶŝĐĂů
ŬŶŽǁůĞĚŐĞ͕ĂŶĚĞdžƉĞƌƟƐĞŝŶŵĂŶĂŐŝŶŐŝƚƐĞŶŐĂŐĞŵĞŶƚ͖ĂŶĚ
;ǀͿ ZĞĂƐŽŶĂďůĞŶĞƐƐŽĨƚŚĞĂƵĚŝƚĨĞĞƐĐŚĂƌŐĞĚ͘
 dŚĞ'ǁĂƐƐĂƟƐĮĞĚǁŝƚŚƚŚĞƐƵŝƚĂďŝůŝƚLJŽĨWǁďĂƐĞĚŽŶƚŚĞ
ƋƵĂůŝƚLJ ŽĨ ĂƵĚŝƚ͕ ƉĞƌĨŽƌŵĂŶĐĞ͕ ĐŽŵƉĞƚĞŶĐLJ ĂŶĚ ƐƵĸĐŝĞŶĐLJ ŽĨ
ƌĞƐŽƵƌĐĞƐƚŚĂƚƚŚĞĞdžƚĞƌŶĂůĂƵĚŝƚƚĞĂŵŚĂĚƉƌŽǀŝĚĞĚƚŽƚŚĞ^ŝŵĞ
ĂƌďLJ'ƌŽƵƉĂƐƉƌĞƐĐƌŝďĞĚƵŶĚĞƌWĂƌĂŐƌĂƉŚϭϱ͘ϮϭŽĨƚŚĞDD>Z͘
 dŚĞŽĂƌĚĂƚŝƚƐŵĞĞƟŶŐŚĞůĚŽŶϮϱ^ĞƉƚĞŵďĞƌϮϬϭϴĂƉƉƌŽǀĞĚ
ƚŚĞ'͛ƐƌĞĐŽŵŵĞŶĚĂƟŽŶƚŚĂƚƚŚĞƐŚĂƌĞŚŽůĚĞƌƐ͛ĂƉƉƌŽǀĂůďĞ
ƐŽƵŐŚƚ Ăƚ ƚŚĞ dǁĞůŌŚ 'D ŽŶ ƚŚĞ ƌĞͲĂƉƉŽŝŶƚŵĞŶƚ ŽĨ Wǁ ĂƐ
ĞdžƚĞƌŶĂůĂƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚŝŶŐ
ϯϬ :ƵŶĞ ϮϬϭϵ͕ ƵŶĚĞƌ ZĞƐŽůƵƟŽŶ ϭϯ͘ dŚĞ ƉƌĞƐĞŶƚ ĞdžƚĞƌŶĂů
ĂƵĚŝƚŽƌƐ͕Wǁ͕ŚĂǀĞŝŶĚŝĐĂƚĞĚƚŚĞŝƌǁŝůůŝŶŐŶĞƐƐƚŽĐŽŶƟŶƵĞƚŚĞŝƌ
ƐĞƌǀŝĐĞƐĨŽƌƚŚĞŶĞdžƚĮŶĂŶĐŝĂůLJĞĂƌ͘
džƉůĂŶĂƚŽƌLJEŽƚĞƐŽŶ^ƉĞĐŝĂůƵƐŝŶĞƐƐ
ϳ͘ ZĞƐŽůƵƟŽŶ ϭϰ Ͳ WƌŽƉŽƐĞĚ ^ŚĂƌĞ ƵLJͲĂĐŬ ƵƚŚŽƌŝƚLJ ĨŽƌ ƚŚĞ
ŽŵƉĂŶLJ ƚŽ WƵƌĐŚĂƐĞ ŝƚƐ KǁŶ ^ŚĂƌĞƐ ŽĨ ƵƉ ƚŽ dĞŶ WĞƌĐĞŶƚ
;ϭϬйͿŽĨƚŚĞdŽƚĂůEƵŵďĞƌŽĨ/ƐƐƵĞĚ^ŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJ
 dŚĞƉƌŽƉŽƐĞĚZĞƐŽůƵƟŽŶϭϰ͕ŝĨƉĂƐƐĞĚ͕ǁŝůůĂůůŽǁƚŚĞŽŵƉĂŶLJ
ƚŽ ƉƵƌĐŚĂƐĞ ŝƚƐ ŽǁŶ ƐŚĂƌĞƐ ƚŚƌŽƵŐŚ ƵƌƐĂ DĂůĂLJƐŝĂ ^ĞĐƵƌŝƟĞƐ
ĞƌŚĂĚŽĨƵƉƚŽƚĞŶƉĞƌĐĞŶƚ;ϭϬйͿŽĨƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨŝƐƐƵĞĚ
ƐŚĂƌĞƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘ WůĞĂƐĞ ƌĞĨĞƌ ƚŽ ƚŚĞ ^ŚĂƌĞ ƵLJͲĂĐŬ
^ƚĂƚĞŵĞŶƚĚĂƚĞĚϭϳKĐƚŽďĞƌϮϬϭϴĨŽƌĨƵƌƚŚĞƌŝŶĨŽƌŵĂƟŽŶ͘
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 ϴ͘ ZĞƐŽůƵƟŽŶϭϱͲWƌŽƉŽƐĞĚ^ŚĂƌĞŚŽůĚĞƌƐ͛DĂŶĚĂƚĞĨŽƌZĞĐƵƌƌĞŶƚ
ZĞůĂƚĞĚWĂƌƚLJdƌĂŶƐĂĐƟŽŶƐŽĨĂZĞǀĞŶƵĞŽƌdƌĂĚŝŶŐEĂƚƵƌĞ
 dŚĞƉƌŽƉŽƐĞĚZĞƐŽůƵƟŽŶϭϱ͕ŝĨƉĂƐƐĞĚ͕ǁŝůůĞŶĂďůĞƚŚĞŽŵƉĂŶLJ
ĂŶĚͬŽƌ ŝƚƐ ƐƵďƐŝĚŝĂƌLJ ĐŽŵƉĂŶŝĞƐ ƚŽ ĞŶƚĞƌ ŝŶƚŽ ƌĞĐƵƌƌĞŶƚ
ƚƌĂŶƐĂĐƟŽŶƐ ŝŶǀŽůǀŝŶŐ ƚŚĞ ŝŶƚĞƌĞƐƚƐ ŽĨ ƚŚĞ ZĞůĂƚĞĚ WĂƌƟĞƐ͕
ǁŚŝĐŚĂƌĞŽĨĂƌĞǀĞŶƵĞŽƌƚƌĂĚŝŶŐŶĂƚƵƌĞĂŶĚŶĞĐĞƐƐĂƌLJĨŽƌƚŚĞ
'ƌŽƵƉ͛ƐĚĂLJͲƚŽͲĚĂLJŽƉĞƌĂƟŽŶƐ͕ƐƵďũĞĐƚƚŽƚŚĞƚƌĂŶƐĂĐƟŽŶƐďĞŝŶŐ
ĐĂƌƌŝĞĚŽƵƚŝŶƚŚĞŽƌĚŝŶĂƌLJĐŽƵƌƐĞŽĨďƵƐŝŶĞƐƐŽŶƚĞƌŵƐŶŽƚŵŽƌĞ
ĨĂǀŽƵƌĂďůĞƚŚĂŶƚŚŽƐĞŐĞŶĞƌĂůůLJĂǀĂŝůĂďůĞƚŽƚŚĞƉƵďůŝĐĂŶĚĂƌĞ
ŶŽƚ ĚĞƚƌŝŵĞŶƚĂů ƚŽ ƚŚĞ ŵŝŶŽƌŝƚLJ ƐŚĂƌĞŚŽůĚĞƌƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ͘
ĞƚĂŝůĞĚ ŝŶĨŽƌŵĂƟŽŶ ŽŶ ƚŚĞ WƌŽƉŽƐĞĚ ^ŚĂƌĞŚŽůĚĞƌƐ͛ DĂŶĚĂƚĞ
ĨŽƌZĞĐƵƌƌĞŶƚZĞůĂƚĞĚWĂƌƚLJdƌĂŶƐĂĐƟŽŶƐŽĨĂZĞǀĞŶƵĞŽƌdƌĂĚŝŶŐ
EĂƚƵƌĞ ŝƐ ƐĞƚ ŽƵƚ ŝŶ ^ĞĐƟŽŶ Ϯ͘ϯ ŽĨ WĂƌƚ  ŽĨ ƚŚĞ ŝƌĐƵůĂƌ ƚŽ
^ŚĂƌĞŚŽůĚĞƌƐĚĂƚĞĚϭϳKĐƚŽďĞƌϮϬϭϴĚĞƐƉĂƚĐŚĞĚƚŽŐĞƚŚĞƌǁŝƚŚ
ƚŚĞŽŵƉĂŶLJ͛ƐŶŶƵĂůZĞƉŽƌƚϮϬϭϴ͘
ϵ͘ ZĞƐŽůƵƟŽŶ ϭϲ Ͳ WƌŽƉŽƐĞĚ 'ƌĂŶƚ ƚŽ :Ğīƌŝ ^Ăůŝŵ ĂǀŝĚƐŽŶ
ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ WĞƌĨŽƌŵĂŶĐĞͲĂƐĞĚ ŵƉůŽLJĞĞ ^ŚĂƌĞ ^ĐŚĞŵĞ
ĨŽƌ ƚŚĞ ůŝŐŝďůĞ ŵƉůŽLJĞĞƐ ;ŝŶĐůƵĚŝŶŐ džĞĐƵƟǀĞ ŝƌĞĐƚŽƌƐͿ ŽĨ
^ŝŵĞĂƌďLJĞƌŚĂĚĂŶĚ/ƚƐ^ƵďƐŝĚŝĂƌŝĞƐ;ĞdžĐůƵĚŝŶŐƐƵďƐŝĚŝĂƌŝĞƐ
ǁŚŝĐŚĂƌĞĚŽƌŵĂŶƚͿ;͞^ĐŚĞŵĞ͟Ϳ
 dŚĞƉƌŽƉŽƐĞĚZĞƐŽůƵƟŽŶϭϲ͕ŝĨƉĂƐƐĞĚ͕ǁŝůůĞŶĂďůĞƚŚĞŽŵƉĂŶLJ
ƚŽŐƌĂŶƚƚŽŶĐŝŬ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ͕ƚŚĞ'ƌŽƵƉŚŝĞĨdžĞĐƵƟǀĞ
KĸĐĞƌŽĨƚŚĞŽŵƉĂŶLJ͕ƵŶĚĞƌƚŚĞ^ĐŚĞŵĞ͕ƵƉƚŽϮ͕ϱϬϬ͕ϬϬϬ^ŝŵĞ
ĂƌďLJ ^ŚĂƌĞƐ ƵŶĚĞƌ ƚŚĞ ^ĐŚĞŵĞ͘ dŚĞ ŶƵŵďĞƌ ŽĨ ^ŝŵĞ ĂƌďLJ
^ŚĂƌĞƐƉƌŽƉŽƐĞĚƚŽďĞŐƌĂŶƚĞĚƚŽŶĐŝŬ:ĞīƌŝǁŝůůďĞĚĞƚĞƌŵŝŶĞĚ
ďLJƚŚĞEZŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞLJͲ>ĂǁƐĂƐĂƉƉƌŽǀĞĚďLJƚŚĞ
ƐŚĂƌĞŚŽůĚĞƌƐŽĨƚŚĞŽŵƉĂŶLJ͘
 ŶĐŝŬ :Ğīƌŝ ŚĂƐ ĂďƐƚĂŝŶĞĚ ĂŶĚ ǁŝůů ĐŽŶƟŶƵĞ ƚŽ ĂďƐƚĂŝŶ ĨƌŽŵ
ǀŽƟŶŐĂŶĚͬŽƌĚĞůŝďĞƌĂƟŶŐŽŶŚŝƐĞŶƟƚůĞŵĞŶƚƵŶĚĞƌƚŚĞ^ĐŚĞŵĞ
Ăƚ ƚŚĞ ƌĞůĞǀĂŶƚ ŽĂƌĚ ŵĞĞƟŶŐƐ ŽĨ ƚŚĞ ŽŵƉĂŶLJ ĂŶĚ ǁŝůů ĂůƐŽ
ĂďƐƚĂŝŶĨƌŽŵǀŽƟŶŐĂŶĚͬŽƌĚĞůŝďĞƌĂƟŶŐŝŶƌĞƐƉĞĐƚŽĨŚŝƐĚŝƌĞĐƚ
ĂŶĚͬŽƌ ŝŶĚŝƌĞĐƚ ƐŚĂƌĞŚŽůĚŝŶŐƐ ŝŶ ƚŚĞ ŽŵƉĂŶLJ ;ŝĨ ĂŶLJͿ ŽŶ ƚŚĞ
ƌĞƐŽůƵƟŽŶ ƉĞƌƚĂŝŶŝŶŐ ƚŽ ŚŝƐ ĞŶƟƚůĞŵĞŶƚ ƵŶĚĞƌ ƚŚĞ ^ĐŚĞŵĞ Ăƚ
ƚŚĞ ŽŵƉĂŶLJ͛Ɛ dǁĞůŌŚ 'D ƚŽ ďĞ ĐŽŶǀĞŶĞĚ͘ ŶĐŝŬ :Ğīƌŝ ŚĂƐ
ĂůƐŽƵŶĚĞƌƚĂŬĞŶƚŽĞŶƐƵƌĞƚŚĂƚĂůůƉĞƌƐŽŶƐĐŽŶŶĞĐƚĞĚǁŝƚŚŚŝŵ
ǁŝůů ĂďƐƚĂŝŶ ĨƌŽŵ ǀŽƟŶŐ ĂŶĚͬŽƌ ĚĞůŝďĞƌĂƟŶŐ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞŝƌ
ĚŝƌĞĐƚĂŶĚͬŽƌŝŶĚŝƌĞĐƚƐŚĂƌĞŚŽůĚŝŶŐƐŝŶƚŚĞŽŵƉĂŶLJ;ŝĨĂŶLJͿŽŶ
ƚŚĞƌĞƐŽůƵƟŽŶƉĞƌƚĂŝŶŝŶŐƚŽŚŝƐĞŶƟƚůĞŵĞŶƚƵŶĚĞƌƚŚĞ^ĐŚĞŵĞĂƚ
ƚŚĞŽŵƉĂŶLJ͛ƐdǁĞůŌŚ'DƚŽďĞĐŽŶǀĞŶĞĚ͘

 dŚĞĞƐƚĂďůŝƐŚŵĞŶƚŽĨƚŚĞ^ĐŚĞŵĞǁĂƐĂƉƉƌŽǀĞĚďLJƐŚĂƌĞŚŽůĚĞƌƐ
ĂƚƚŚĞdžƚƌĂŽƌĚŝŶĂƌLJ'ĞŶĞƌĂůDĞĞƟŶŐŽĨƚŚĞŽŵƉĂŶLJŚĞůĚŽŶ
ϴEŽǀĞŵďĞƌϮϬϭϮ͘

STATEMENT ACCOMPANYING
NOTICE OF ANNUAL GENERAL
MEETING
(PURSUANT TO PARAGRAPH 8.27(2) OF THE MAIN MARKET LISTING REQUIREMENTS OF
BURSA MALAYSIA SECURITIES BERHAD)

dŚĞƉƌŽĮůĞŽĨƚŚĞŝƌĞĐƚŽƌƐǁŚŽĂƌĞƐƚĂŶĚŝŶŐĨŽƌĞůĞĐƟŽŶĂŶĚƌĞͲĞůĞĐƟŽŶ;ĂƐƉĞƌZĞƐŽůƵƟŽŶƐϰƚŽϭϮĂƐƐƚĂƚĞĚĂďŽǀĞͿĂƚƚŚĞdǁĞůŌŚ'DŽĨ
^ŝŵĞĂƌďLJĂƌĞƐĞƚŽƵƚŝŶƚŚĞ͞WƌŽĮůĞŽĨŝƌĞĐƚŽƌƐ͟ƐĞĐƟŽŶŽŶƉĂŐĞƐϳϬƚŽϳϯŽĨƚŚĞŽŵƉĂŶLJ͛ƐŶŶƵĂůZĞƉŽƌƚϮϬϭϴ͘

dŚĞĚĞƚĂŝůƐŽĨĂŶLJŝŶƚĞƌĞƐƚŝŶƐĞĐƵƌŝƟĞƐŚĞůĚďLJƚŚĞƐĂŝĚŝƌĞĐƚŽƌƐĂƌĞƐĞƚŽƵƚŝŶƚŚĞ͞ŝƌĞĐƚŽƌƐ͛ZĞƉŽƌƚ͟ƐĞĐƟŽŶŽŶƉĂŐĞƐϭϭϭƚŽϭϭϱŽĨƚŚĞ
ŽŵƉĂŶLJ͛ƐŶŶƵĂůZĞƉŽƌƚϮϬϭϴ͘

page 330 SIME DARBY BERHAD

 SIME DARBY BERHAD
(Company No. 752404-U)
(Incorporated in Malaysia)

FORM OF PROXY Number of ordinary

shares held
CDS Account No.

- -

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ϣϧEŽǀĞŵďĞƌϤϢϣϪĂƚϣϢ͘ϢϢĂ͘ŵ͘ĂŶĚĂƚĂŶLJĂĚũŽƵƌŶŵĞŶƚƚŚĞƌĞŽĨ͘

No. Agenda
ϣ͘ dŽƌĞĐĞŝǀĞƚŚĞƵĚŝƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϥϢ:ƵŶĞϤϢϣϪƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞZĞƉŽƌƚƐŽĨƚŚĞŝƌĞĐƚŽƌƐĂŶĚƚŚĞƵĚŝƚŽƌƐƚŚĞƌĞŽŶ
KƌĚŝŶĂƌLJƵƐŝŶĞƐƐ ZĞƐŽůƵƟŽŶ For ŐĂŝŶƐƚ
Ϥ͘ dŽĂƉƉƌŽǀĞƚŚĞƉĂLJŵĞŶƚŽĨŝƌĞĐƚŽƌƐ͛ĨĞĞƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐĨŽƌƚŚĞĮŶĂŶĐŝĂůLJĞĂƌĞŶĚĞĚϥϢ:ƵŶĞϤϢϣϪ ϣ
ϥ͘ dŽĂƉƉƌŽǀĞƚŚĞƉĂLJŵĞŶƚŽĨŝƌĞĐƚŽƌƐ͛ĨĞĞƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐĨƌŽŵϣ:ƵůLJϤϢϣϪƵŶƟůƚŚĞŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJ Ϥ
Ϧ͘ dŽĂƉƉƌŽǀĞƚŚĞƉĂLJŵĞŶƚŽĨďĞŶĞĮƚƐƚŽƚŚĞEŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐƵƉƚŽĂŶĂŵŽƵŶƚŽĨZDϤ͘ϢŵŝůůŝŽŶĨƌŽŵƚŚĞdǁĞůŌŚ'DƵŶƟůƚŚĞ ϥ
ŶĞdžƚ'DŽĨƚŚĞŽŵƉĂŶLJ
ϧ͘ ;ŝͿ dŽĞůĞĐƚdĂŶ^ƌŝĂƚŽ͛DŽŚĂŵĞĚnjŵĂŶzĂŚLJĂǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ Ϧ
ϧ͘ ;ŝŝͿ dŽĞůĞĐƚĂƚŽ͛^ƌŝďĚƵů,ĂŵŝĚLJďĚƵů,ĂĮnjǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ ϧ
ϧ͘ ;ŝŝŝͿ dŽĞůĞĐƚĂƚŽ͛ŚŵĂĚWĂƌĚĂƐ^ĞŶŝŶǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ Ϩ
ϧ͘ ;ŝǀͿ dŽĞůĞĐƚdŚĂLJĂƉĂƌĂŶ^ĂŶŐĂƌĂƉŝůůĂŝǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ ϩ
ϧ͘ ;ǀͿ dŽĞůĞĐƚ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ Ϫ
ϧ͘ ;ǀŝͿ dŽĞůĞĐƚĂƚŽ͛>ĂǁƌĞŶĐĞ>ĞĞŚĞŽǁ,ŽĐŬǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ ϫ
ϧ͘ ;ǀŝŝͿ dŽĞůĞĐƚDŽLJWƵŝzĞĞǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϪϥ͘ϤŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ ϣϢ
Ϩ͘ ;ŝͿ dŽƌĞͲĞůĞĐƚdĂŶ^ƌŝĂƚŽ͛^ƌŝƌtĂŶďĚƵůnjŝnjtĂŶďĚƵůůĂŚǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϣϢϦŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞ ϣϣ
ŽŵƉĂŶLJ
Ϩ͘ ;ŝŝͿ dŽƌĞͲĞůĞĐƚĂƚƵŬtĂŶ^ĞůĂŵĂŚtĂŶ^ƵůĂŝŵĂŶǁŚŽƌĞƟƌĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚZƵůĞϣϢϦŽĨƚŚĞŽŶƐƟƚƵƟŽŶŽĨƚŚĞŽŵƉĂŶLJ ϣϤ
ϩ͘ dŽƌĞͲĂƉƉŽŝŶƚWƌŝĐĞǁĂƚĞƌŚŽƵƐĞŽŽƉĞƌƐW>dĂƐƵĚŝƚŽƌƐŽĨƚŚĞŽŵƉĂŶLJĂŶĚƚŽĂƵƚŚŽƌŝƐĞƚŚĞŝƌĞĐƚŽƌƐƚŽĚĞƚĞƌŵŝŶĞƚŚĞŝƌƌĞŵƵŶĞƌĂƟŽŶ ϣϥ
^ƉĞĐŝĂůƵƐŝŶĞƐƐ ZĞƐŽůƵƟŽŶ For ŐĂŝŶƐƚ
Ϫ͘ ;ŝͿ dŽĂƉƉƌŽǀĞƚŚĞĂƵƚŚŽƌŝƚLJĨŽƌƚŚĞŽŵƉĂŶLJƚŽƉƵƌĐŚĂƐĞŝƚƐŽǁŶƐŚĂƌĞƐ ϣϦ
Ϫ͘ ;ŝŝͿ dŽĂƉƉƌŽǀĞƚŚĞ^ŚĂƌĞŚŽůĚĞƌƐ͛DĂŶĚĂƚĞĨŽƌZĞĐƵƌƌĞŶƚZĞůĂƚĞĚWĂƌƚLJdƌĂŶƐĂĐƟŽŶƐŽĨĂZĞǀĞŶƵĞŽƌdƌĂĚŝŶŐEĂƚƵƌĞ ϣϧ
Ϫ͘ ;ŝŝŝͿ dŽĂƉƉƌŽǀĞƚŚĞWĞƌĨŽƌŵĂŶĐĞͲďĂƐĞĚŵƉůŽLJĞĞ^ŚĂƌĞ^ĐŚĞŵĞ'ƌĂŶƚƚŽ:Ğīƌŝ^ĂůŝŵĂǀŝĚƐŽŶ ϣϨ

DLJͬKƵƌƉƌŽdžLJŝƐƚŽǀŽƚĞŽŶƚŚĞƌĞƐŽůƵƟŽŶƐĂƐŝŶĚŝĐĂƚĞĚďLJĂŶ͞y͟ŝŶƚŚĞĂƉƉƌŽƉƌŝĂƚĞƐƉĂĐĞĂďŽǀĞ͘/ĨŶŽŝŶĚŝĐĂƟŽŶŝƐŐŝǀĞŶ͕ŵLJͬŽƵƌƉƌŽdžLJƐŚĂůůǀŽƚĞŽƌĂďƐƚĂŝŶĨƌŽŵǀŽƟŶŐĂƐŚĞͬƐŚĞƚŚŝŶŬƐĮƚ͘

&Žƌ ĂƉƉŽŝŶƚŵĞŶƚ ŽĨ ƚǁŽ ;ϤͿ ƉƌŽdžŝĞƐ͕ ƉĞƌĐĞŶƚĂŐĞ ŽĨ ƐŚĂƌĞŚŽůĚŝŶŐƐ ƚŽ ďĞ
ƌĞƉƌĞƐĞŶƚĞĚďLJƚŚĞƉƌŽdžŝĞƐŵƵƐƚďĞŝŶĚŝĐĂƚĞĚďĞůŽǁ͗
WĞƌĐĞŶƚĂŐĞ;йͿ
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^ĞĐŽŶĚƉƌŽdžLJ

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WůĞĂƐĞƌĞĨĞƌƚŽƚŚĞEŽƟĐĞƚŽ^ŚĂƌĞŚŽůĚĞƌƐƵŶĚĞƌƚŚĞWĞƌƐŽŶĂůĂƚĂWƌŽƚĞĐƟŽŶĐƚϤϢϣϢ;͞WWEŽƟĐĞ͟ͿŝŶƚŚĞŶŶƵĂůZĞƉŽƌƚϤϢϣϪĐŽŶĐĞƌŶŝŶŐƚŚĞŽŵƉĂŶLJ͛ƐĐŽůůĞĐƟŽŶŽĨLJŽƵƌƉĞƌƐŽŶĂůĚĂƚĂ
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zŽƵŚĞƌĞďLJĚĞĐůĂƌĞƚŚĂƚLJŽƵŚĂǀĞƌĞĂĚ͕ƵŶĚĞƌƐƚŽŽĚĂŶĚĂĐĐĞƉƚĞĚƚŚĞƐƚĂƚĞŵĞŶƚƐĂŶĚƚĞƌŵƐĐŽŶƚĂŝŶĞĚŝŶƚŚĞWWEŽƟĐĞ͘

/ŶĚŝƐĐůŽƐŝŶŐƚŚĞƉƌŽdžLJ͛ƐƉĞƌƐŽŶĂůĚĂƚĂ͕LJŽƵĂƐĂƐŚĂƌĞŚŽůĚĞƌ͕ǁĂƌƌĂŶƚƚŚĂƚƚŚĞƉƌŽdžLJ;ŝĞƐͿŚĂƐͬŚĂǀĞŐŝǀĞŶŚŝƐͬŚĞƌͬƚŚĞŝƌĞdžƉůŝĐŝƚĐŽŶƐĞŶƚĨŽƌŚŝƐͬŚĞƌͬƚŚĞŝƌƉĞƌƐŽŶĂůĚĂƚĂďĞŝŶŐĚŝƐĐůŽƐĞĚĂŶĚ
ƉƌŽĐĞƐƐĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞEŽƟĐĞƚŽWƌŽdžŝĞƐƵŶĚĞƌƚŚĞWĞƌƐŽŶĂůĂƚĂWƌŽƚĞĐƟŽŶĐƚϤϢϣϢĂƩĂĐŚĞĚ͘

ĂƚĞĚƚŚŝƐͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺĚĂLJŽĨͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺϤϢϣϪ
    ^ŝŐŶĂƚƵƌĞͬŽŵŵŽŶ^ĞĂůŽĨDĞŵďĞƌ;ƐͿ

Ύ WůĞĂƐĞĚĞůĞƚĞĂƐĂƉƉůŝĐĂďůĞ͘
ΎΎ /ĨLJŽƵĚŽŶŽƚǁŝƐŚƚŽĂƉƉŽŝŶƚƚŚĞŚĂŝƌŵĂŶŽĨƚŚĞDĞĞƟŶŐĂƐLJŽƵƌƉƌŽdžLJͬŽŶĞŽĨLJŽƵƌƉƌŽdžŝĞƐ͕ƉůĞĂƐĞƐƚƌŝŬĞŽƵƚƚŚĞǁŽƌĚƐ͞ŽƌĨĂŝůŝŶŐŽĨŚŝŵͬŚĞƌ͕ƚŚĞŚĂŝƌŵĂŶŽĨƚŚĞDĞĞƟŶŐ͟ĂŶĚŝŶƐĞƌƚ
ƚŚĞŶĂŵĞ;ƐͿŽĨƚŚĞƉƌŽdžLJ;ŝĞƐͿLJŽƵǁŝƐŚƚŽĂƉƉŽŝŶƚŝŶƚŚĞďůĂŶŬƐƉĂĐĞ;ƐͿƉƌŽǀŝĚĞĚ͘
EŽƚĞƐ͗

ϣ͘ DĞŵďĞƌĞŶƟƚůĞĚƚŽĂƩĞŶĚĂŶĚǀŽƚĞĂƚƚŚĞDĞĞƟŶŐŝƐĞŶƟƚůĞĚƚŽĂƉƉŽŝŶƚŶŽƚŵŽƌĞƚŚĂŶƚǁŽ;ϤͿƉƌŽdžŝĞƐƚŽĞdžĞƌĐŝƐĞĂůůŽƌĂŶLJŽĨŚŝƐƌŝŐŚƚƐƚŽĂƩĞŶĚ͕ƉĂƌƟĐŝƉĂƚĞ͕ƐƉĞĂŬĂŶĚǀŽƚĞĂƚƚŚĞDĞĞƟŶŐ
ŽŶŚŝƐͬŚĞƌďĞŚĂůĨ͘tŚĞƌĞĂDĞŵďĞƌĂƉƉŽŝŶƚƐŵŽƌĞƚŚĂŶŽŶĞ;ϣͿƉƌŽdžLJ͕ƚŚĞĂƉƉŽŝŶƚŵĞŶƚƐŚĂůůďĞŝŶǀĂůŝĚƵŶůĞƐƐŚĞͬƐŚĞƐƉĞĐŝĮĞƐƚŚĞƉƌŽƉŽƌƟŽŶŽĨŚŝƐͬŚĞƌƐŚĂƌĞŚŽůĚŝŶŐƐƚŽďĞƌĞƉƌĞƐĞŶƚĞĚďLJ
ĞĂĐŚƉƌŽdžLJ͘ƉƌŽdžLJŵĂLJ͕ďƵƚŶĞĞĚŶŽƚ͕ďĞĂDĞŵďĞƌŽĨƚŚĞŽŵƉĂŶLJ͘

Ϥ͘ DĞŵďĞƌŵĂLJĂƉƉŽŝŶƚĂŶLJƉĞƌƐŽŶƚŽďĞŚŝƐͬŚĞƌƉƌŽdžLJǁŝƚŚŽƵƚĂŶLJƌĞƐƚƌŝĐƟŽŶĂƐƚŽƚŚĞƋƵĂůŝĮĐĂƟŽŶŽĨƐƵĐŚƉĞƌƐŽŶ͘

ϥ͘ WƵƌƐƵĂŶƚƚŽWĂƌĂŐƌĂƉŚϪ͘Ϥϫ;ϣͿŽĨƚŚĞDĂŝŶDĂƌŬĞƚ>ŝƐƟŶŐZĞƋƵŝƌĞŵĞŶƚƐŽĨƵƌƐĂDĂůĂLJƐŝĂ^ĞĐƵƌŝƟĞƐĞƌŚĂĚ͕ĂůůƌĞƐŽůƵƟŽŶƐƐĞƚŽƵƚŝŶƚŚĞEŽƟĐĞŽĨƚŚĞdǁĞůŌŚŶŶƵĂů'ĞŶĞƌĂůDĞĞƟŶŐ
;͞'D͟ͿŽĨƚŚĞŽŵƉĂŶLJƐŚĂůůďĞƉƵƚƚŽǀŽƚĞďLJǁĂLJŽĨĂƉŽůů͘

Ϧ͘ tŚĞƌĞĂDĞŵďĞƌŽĨƚŚĞŽŵƉĂŶLJŝƐĂŶƵƚŚŽƌŝƐĞĚEŽŵŝŶĞĞĂƐĚĞĮŶĞĚƵŶĚĞƌƚŚĞ^ĞĐƵƌŝƟĞƐ/ŶĚƵƐƚƌLJ;ĞŶƚƌĂůĞƉŽƐŝƚŽƌŝĞƐͿĐƚϣϫϫϣ;͞^/͟Ϳ͕ŚĞͬƐŚĞŵĂLJĂƉƉŽŝŶƚŶŽƚŵŽƌĞƚŚĂŶƚǁŽ;ϤͿ
ƉƌŽdžŝĞƐŝŶƌĞƐƉĞĐƚŽĨĞĂĐŚ^ĞĐƵƌŝƟĞƐĐĐŽƵŶƚŚĞͬƐŚĞŚŽůĚƐǁŝƚŚŽƌĚŝŶĂƌLJƐŚĂƌĞƐŽĨƚŚĞŽŵƉĂŶLJƐƚĂŶĚŝŶŐƚŽƚŚĞĐƌĞĚŝƚŽĨƚŚĞƐĂŝĚ^ĞĐƵƌŝƟĞƐĐĐŽƵŶƚƚŽĂƩĞŶĚĂŶĚǀŽƚĞĂƚĂŵĞĞƟŶŐŽĨƚŚĞ
ŽŵƉĂŶLJŝŶƐƚĞĂĚŽĨŚŝŵ͘

ϧ͘ tŚĞƌĞĂDĞŵďĞƌŽĨƚŚĞŽŵƉĂŶLJŝƐĂŶdžĞŵƉƚƵƚŚŽƌŝƐĞĚEŽŵŝŶĞĞĂƐĚĞĮŶĞĚƵŶĚĞƌ^/ǁŚŝĐŚŚŽůĚƐŽƌĚŝŶĂƌLJƐŚĂƌĞƐŝŶƚŚĞŽŵƉĂŶLJĨŽƌŵƵůƟƉůĞďĞŶĞĮĐŝĂůŽǁŶĞƌƐŝŶŽŶĞ;ϣͿ^ĞĐƵƌŝƟĞƐ
ĐĐŽƵŶƚ;KŵŶŝďƵƐĐĐŽƵŶƚͿ͕ƚŚĞƌĞŝƐŶŽůŝŵŝƚƚŽƚŚĞŶƵŵďĞƌŽĨƉƌŽdžŝĞƐǁŚŝĐŚƚŚĞdžĞŵƉƚƵƚŚŽƌŝƐĞĚEŽŵŝŶĞĞŵĂLJĂƉƉŽŝŶƚŝŶƌĞƐƉĞĐƚŽĨĞĂĐŚKŵŶŝďƵƐĐĐŽƵŶƚŝƚŚŽůĚƐWZKs/d,d
ĞĂĐŚďĞŶĞĮĐŝĂůŽǁŶĞƌŽĨŽƌĚŝŶĂƌLJƐŚĂƌĞƐ͕ŽƌǁŚĞƌĞƚŚĞŽƌĚŝŶĂƌLJƐŚĂƌĞƐĂƌĞŚĞůĚŽŶďĞŚĂůĨŽĨũŽŝŶƚďĞŶĞĮĐŝĂůŽǁŶĞƌƐ͕ƐƵĐŚũŽŝŶƚďĞŶĞĮĐŝĂůŽǁŶĞƌƐ͕ƐŚĂůůŽŶůLJďĞĞŶƟƚůĞĚƚŽŝŶƐƚƌƵĐƚƚŚĞdžĞŵƉƚ
ƵƚŚŽƌŝƐĞĚEŽŵŝŶĞĞƚŽĂƉƉŽŝŶƚŶŽƚŵŽƌĞƚŚĂŶƚǁŽ;ϤͿƉƌŽdžŝĞƐƚŽĂƩĞŶĚĂŶĚǀŽƚĞĂƚĂŐĞŶĞƌĂůŵĞĞƟŶŐŽĨƚŚĞŽŵƉĂŶLJŝŶƐƚĞĂĚŽĨƚŚĞďĞŶĞĮĐŝĂůŽǁŶĞƌŽƌũŽŝŶƚďĞŶĞĮĐŝĂůŽǁŶĞƌƐ͘

Ϩ͘ dŚĞŝŶƐƚƌƵŵĞŶƚĂƉƉŽŝŶƟŶŐĂƉƌŽdžLJƐŚĂůůďĞŝŶǁƌŝƟŶŐƐŝŐŶĞĚďLJƚŚĞĂƉƉŽŝŶƚŽƌŽƌŚŝƐͬŚĞƌĂƩŽƌŶĞLJĚƵůLJĂƵƚŚŽƌŝƐĞĚŝŶǁƌŝƟŶŐŽƌ͕ŝĨƚŚĞĂƉƉŽŝŶƚŽƌŝƐĂĐŽƌƉŽƌĂƟŽŶ͕ĞŝƚŚĞƌƵŶĚĞƌŝƚƐĐŽŵŵŽŶƐĞĂů
ŽƌƐŝŐŶĞĚďLJĂŶŽĸĐĞƌŽƌĂƩŽƌŶĞLJƐŽĂƵƚŚŽƌŝƐĞĚ͘ŶLJĂůƚĞƌĂƟŽŶƚŽƚŚĞŝŶƐƚƌƵŵĞŶƚĂƉƉŽŝŶƟŶŐĂƉƌŽdžLJŵƵƐƚďĞŝŶŝƟĂůůĞĚ͘

ϩ͘ dŚĞ&ŽƌŵŽĨWƌŽdžLJĂŶĚƚŚĞWŽǁĞƌŽĨƩŽƌŶĞLJŽƌŽƚŚĞƌĂƵƚŚŽƌŝƚLJ͕ŝĨĂŶLJ͕ƵŶĚĞƌǁŚŝĐŚŝƚŝƐƐŝŐŶĞĚŽƌĂŶŽƚĂƌŝĂůůLJĐĞƌƟĮĞĚĐŽƉLJŽĨƚŚĂƚƉŽǁĞƌŽƌĂƵƚŚŽƌŝƚLJ͕ŵƵƐƚďĞĚĞƉŽƐŝƚĞĚĂƚƚŚĞŽĨĮĐĞŽĨƚŚĞ
^ŚĂƌĞZĞŐŝƐƚƌĂƌŽĨƚŚĞŽŵƉĂŶLJ͕dƌŝĐŽƌ/ŶǀĞƐƚŽƌΘ/ƐƐƵŝŶŐ,ŽƵƐĞ^ĞƌǀŝĐĞƐ^ĚŶŚĚĂƚhŶŝƚϥϤͲϢϣ͕>ĞǀĞůϥϤ͕dŽǁĞƌ͕sĞƌƟĐĂůƵƐŝŶĞƐƐ^ƵŝƚĞ͕ǀĞŶƵĞϥ͕ĂŶŐƐĂƌ^ŽƵƚŚ͕EŽ͘Ϫ͕:ĂůĂŶ<ĞƌŝŶĐŚŝ͕ϧϫϤϢϢ
<ƵĂůĂ>ƵŵƉƵƌ͕DĂůĂLJƐŝĂďĞĨŽƌĞϣϤ͘ϢϢƉ͘ŵ͘ŽŶϣϦEŽǀĞŵďĞƌϤϢϣϪŽƌŶŽƚůĞƐƐƚŚĂŶϤϦŚŽƵƌƐďĞĨŽƌĞƚŚĞƟŵĞĂƉƉŽŝŶƚĞĚĨŽƌƚŚĞƚĂŬŝŶŐŽĨƚŚĞƉŽůůĂƚƚŚĞ'D͕ǁŚŝĐŚĞǀĞƌŝƐƚŚĞůĂƚĞƌ͘

Ϫ͘ KŶůLJDĞŵďĞƌƐƌĞŐŝƐƚĞƌĞĚŝŶƚŚĞZĞĐŽƌĚŽĨĞƉŽƐŝƚŽƌƐĂƐĂƚϩEŽǀĞŵďĞƌϤϢϣϪƐŚĂůůďĞĞůŝŐŝďůĞƚŽĂƩĞŶĚ͕ƐƉĞĂŬĂŶĚǀŽƚĞĂƚƚŚĞ'DŽƌĂƉƉŽŝŶƚƉƌŽdžLJ;ŝĞƐͿƚŽĂƩĞŶĚ͕ƐƉĞĂŬĂŶĚͬŽƌǀŽƚĞŽŶƚŚĞŝƌ
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>ĞǀĞůϵ͕DĞŶĂƌĂ^ŝŵĞĂƌďLJ͕KĂƐŝƐŽƌƉŽƌĂƚĞWĂƌŬ͕:ĂůĂŶW:h
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