LEADING | |
we invest in better | |
THRO | |
UGH | |
CHAL | |
LENG | |
ES | 2023 |
integrated annual report | |
vision | brand |
leading investments | promise |
for shared prosperity | we invest in better |
mission
cultivating value, creating positive impact
core values
respect
Recognise the value of other people and accept differences.
discipline
pride
Take pride in our jobs
and KPS Berhad as an organisation and commit to its success.
integrity
Integrity in our conduct is guided by responsibility and accountability.
Operate with team spirit
guided by clear rules of work,
discipline, and a healthy
work-life balance.
extra-mile
Contribute to stakeholders'
growth by "Going the
Extra-Mile".
2023 Integrated Annual Report | 1 |
KPS Berhad | |
leading through
challenges
In looking back at the year, encapsulated in the theme "Leading Through Challenges", we acknowledge the struggle we
encountered, steering the Group's business with the commitment to creating value even during challenging times.
Despite financial challenges, we achieved noteworthy progress in critical areas of our business. Our commitment to sustainability reached new heights as we initiated impactful initiatives that further strengthened our role in environmental stewardship. We bolstered our governance and risk management practices, establishing a robust foundation for ethical decision-making and ensuring the soundness of our business operations.
In the realm of human capital development, we invested significantly in our talent, cultivating a culture of continuous
learning and professional growth. Our employees have risen to the occasion, embodying the spirit of "Leading Through Challenges" by adapting their skill sets to meet the demands of
an ever-evolving landscape.
This annual report not only reflects our financial realities but also celebrates our success in sustainability, governance, risk management, and human resource development - all integral components of our strategic vision and roadmap. We invite stakeholders to recognise the broader spectrum of achievements and join us in charting a resilient path forward.
47th Monday, 27 May 2024
Annual | Kumpulan Perangsang Selangor Berhad |
17th Floor Plaza Perangsang | |
General | Persiaran Perbandaran |
40000 Shah Alam | |
Meeting | |
Selangor Darul Ehsan |
10:00 a.m.
Scan this to view our 2023 Integrated Annual Report, the audited accounts and other information on KPS Berhad are also available at www.kps.com.my
about this report | chapter 1: | chapter 3: | ||
4 | about KPS Berhad | investor relations | ||
about this report | 15 | 57 | ||
9 | who we are | investor relations | ||
the distinction between integrated | 17 | 58 | ||
reporting and sustainability reporting | our business model | engagement channels | ||
10 | 20 | 59 | ||
reporting scope and boundary | corporate structure | annual general meeting | ||
10 | 21 | 60 | ||
icons | where we operate | extraordinary general meeting | ||
10 | 22 | 60 | ||
time period | information on subsidiary companies, | media relations activities | ||
11 | associate companies and other | 60 | ||
investments | ||||
basis of preparation | research coverage | |||
32 | ||||
11 | 62 | |||
corporate information | ||||
other strategic considerations | share price performance | |||
considered | 34 | |||
62 | ||||
11 | organisation structure | |||
share price performance KPS Berhad | ||||
applied frameworks | 35 | |||
vs KLCI | ||||
12 | financial calendar | 63 | ||
forward looking statements | 36 | other communication channels | ||
12 | key milestones and achievements | |||
board's approval | 40 | chapter 4: | ||
12 | 2023 in review | management discussion and | ||
distribution & availability | analysis | |||
12 | chapter 2: | 64 | ||
values created | ||||
feedback | managing director/group chief | |||
13 | 47 | executive officer's message | ||
how to read this report | value creation model | 82 | ||
50 | review of financial performance | |||
financial values | 90 | |||
52 | review of segmental performance | |||
value added and distributed | 94 | |||
54 | business review | |||
consistent dividend returns to | 128 | |||
shareholders | group strategies for sustained value | |||
creation | ||||
inside | ||||
55 | ||||
key performance indicators | ||||
what's |
chapter 5:
our material matters
140
matters material to value creation
150
stakeholder engagement
154
trends and developments impacting value creation in 2023
chapter 6: managing risks
167
managing our corporate risks
169
key risk areas
chapter 7: sustainability statement
173
sustainability statement
174
our approach
176
environmental performance
178
social performance
184
governance performance
chapter 8: leadership
186
board of directors
188
board of directors profile
196
key senior management profile
198
head of departments
201
head of subsidiary companies
chapter 9: governance
206
corporate governance overview statement 2023
244
board audit committee report
251
statement on risk management and internal control
chapter 10 financial statements
274
directors' report
285
statement by directors
285
statutory declaration
286
independent auditors' report
294
statements of profit or loss
296
statements of comprehensive income
297
statements of financial position
299
consolidated statement of changes in equity
301
statement of changes in equity
302
statements of cash flows
305
notes to the financial statements
chapter 11
stakeholders information
421
analysis of shareholdings
423
additional compliance information disclosures
428
list of group properties
435
corporate directory
437
notice of annual general meeting
444
statement accompanying
notice of annual general meeting
445
administrative guide for shareholders
451
proxy form
2023 | 2023 |
Integrated | Sustainability |
Annual Report | Report |
our reporting suite
In promoting reporting conciseness and connectivity of information, the 2023 Integrated Annual Report ("2023IAR") makes references to other documents and reports such as the stand-alone 2023 Sustainability Report ("2023SR") and the Corporate Governance Report 2023 ("CG Report 2023").
about this report
4 2023 Integrated Annual Report KPS Berhad
Kumpulan Perangsang Selangor Berhad ("KPS Berhad" or "the Company") is pleased to present its Integrated Annual Report for the financial year ended 31 December 2023 ("2023IAR"). 2023IAR marks the Group's second integrated annual report, showcasing a significant advancement in our strategic value creation disclosures and narratives.
2023IAR further strengthens the integration of material financial and non- financial data, providing a comprehensive view of the Group's value creation performance, insights and outlook.
2023IAR aims to create more inclusive corporate reporting by highlighting not only financial goals but also the Company's commitment to making a positive social and environmental impact.
This involves efforts like measuring social return on investment ("SROI") and showcasing initiatives aimed at reducing our environmental footprint, such as addressing climate change, managing emissions, and improving waste management practices.
Going beyond historical financial performance, integrated reporting places a significant emphasis on the future endeavours of KPS Berhad and its subsidiary companies ("KPS Berhad" or "the Group").
2023 Integrated Annual Report | 5 |
KPS Berhad | |
about this report | chapter 1 | chapter 2 | chapter 3 | chapter 4 | chapter 5 | ||||||||||||
about KPS Berhad | values created | investor relations | management discussion | our material matters | |||||||||||||
and analysis | |||||||||||||||||
Essentially, KPS Berhad's 2023IAR aims to provide stakeholders with comprehensive insights, enabling them to make well-informed assessments and decisions regarding the Group's business and brand equity.
It presents a comprehensive approach to integrating sustainability-related topics and disclosures, underscoring the significance of environmental, social, and governance ("ESG") considerations ingrained in KPS Berhad's vision, mission, and day-to-day operations. It also provides insights into our status and future outlook, discussing key aspects such as capital allocation, risk dependencies, and multi-capital narrative. Emphasising the inter-linkage between financial, manufactured, social, human, intellectual, and natural capitals, the report offers a concise exploration of the Group's holistic performance.
2023IAR has been developed in accordance with the Principles-based Framework of integrated reporting comprising the six capitals, seven guiding principles and eight content elements.
1 Since August 2022, the Value Reporting Foundation ("VRF") has merged with the International Financial Reporting Standards ("IFRS') Board with the Integrated Reporting Framework now becoming a pivotal part of the effort to link sustainability disclosures with financial statements as prescribed by the emerging IFRS S1 (General Requirements for Disclosure of Sustainability- related Financial Disclosure).
6 2023 Integrated Annual Report KPS Berhad
chapter 6 | chapter 7 | chapter 8 | chapter 9 | chapter 10 | chapter 11 |
managing risks | sustainability statement | leadership | governance | financial statements | stakeholders information |
about this report
business perspective | ||||||||||
previous | current | |||||||||
short-term driven | long-term driven | |||||||||
financial | value | non- | financial | value | non- | |||||
financial | financial | |||||||||
value | creation | value | creation | |||||||
value | value |
Archival value creation approach focusing on value creation based on financial performance, with the aim of generating profit above all else. Success is measured by the returns provided to shareholders and the financial returns on investments. This approach is often short-term focused, prioritising immediate gains over long-term growth.
Evolved value creation approach where creating value is centered on sustainability. This approach considers the interplay between financial and non-financial elements and recognises the need for both to be integrated to drive the business model. While financial goals remain important, they are considered in the context of an agile business model that can adapt to changing stakeholder views, environmental concerns, and societal needs.
6
capitals
- Financial
- Manufactured
- Intellectual
- Human
- Social
- Natural
7
guiding principles
- Strategic focus and future orientation
- Connectivity of information
- Conciseness
- Reliability and completeness
- Consistency and comparability
- Materiality
- Stakeholder relationships
8
content elements
- Organisational overview and external environment
- Governance
- Business model
- Risks and opportunities
- Strategy and resource allocation
- Performance
- Outlook
- Basis of preparation and presentation
2023 Integrated Annual Report | 7 |
KPS Berhad | |
about this report | chapter 1 | chapter 2 | chapter 3 | chapter 4 | chapter 5 | ||||||||||||
about KPS Berhad | values created | investor relations | management discussion | our material matters | |||||||||||||
and analysis | |||||||||||||||||
about this report
our capitals
6
2023IAR contains information on the resources used and the results achieved by KPS Berhad's business model in 2023. It covers how we sustain resources through our business and operational strategies and the outcomes we generate, along with the trade-offs involved. For instance, we explore how generating value in one area might impact or reduce value in another area of our operations.
fi | |||||
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t | l | ||||
a | |||||
l |
All liquid assets, such as cash and cash equivalents, equities, shareholdings, investments, debts and liabilities
as well as liquid
assets.
m | |||||||
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f | a | ||||||
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a | u | r | |||||
pi | e | d | |||||
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al |
All physical
assets employed by the business model, including machinery, equipment, business premises owned or leased.
inctaeplliectual tal
The KPS Berhad business model, proprietary knowledge including intellectual property, related internal systems
and processes,
market insights and
intelligence.
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The value and | |||||||||||||||
strategic capability | |||||||||||||||
The total workforce | developed through | ||||||||||||||
including collective | stakeholder | ||||||||||||||
and individual | relationships and | ||||||||||||||
capabilities, | engagement, | ||||||||||||||
competence | brand credibility | ||||||||||||||
and professional | and equity, values | ||||||||||||||
contributions of | created for society | ||||||||||||||
employees. | including SROI. |
l | ||
a | ||
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p | ||
a | ||
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r | ||
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a | ||
n |
Consumption
and preservation
of natural and
physical resources
such as raw
materials, energy sources and more by the business model.
application of the
7
guiding principles
The seven guiding principles, which serve as guidance pillars towards achieving best practice integrated reporting, have also been applied in the development of content chapters and the use of references to other reports i.e. stand-alone 2023SR. This is consistent with the principles of conciseness and connectivity of information as prescribed by the Integrated Reporting Framework. Other principles such as materiality and stakeholder relationships are presented in a condensed form in 2023IAR but are explained in greater detail within the 2023SR.
8 2023 Integrated Annual Report KPS Berhad
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Kumpulan Perangsang Selangor Bhd published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 10:48:08 UTC.