Gas Malaysia Berhad (“Gas Malaysia” or “the Group”) was incorporated on May 16, 1992 to sell, market and distribute natural gas and to develop, operate the natural gas distribution system (“NGDS”) in Peninsular Malaysia and maintained. It is also intended to keep our valued investors informed of Gas Malaysia's business operations, strategic direction and latest performance.
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2 ND QUARTER
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4 TH QUARTER
19 MAY 2022
1 JULY 2022
27 JULY 2022
- ASSISTANCE TO FLOOD VICTIMS
- DONATING FOR A CHARITABLE CAUSE As part of our continuous commitment to assist the
- October 05 AWARD CEREMONY - GCEO VIDEO CLIP CHALLENGE
- November 23 LIGHT & EASY WITH GCEO
- December 02 GAS SALES AGREEMENTS – SIGNING CEREMONY BETWEEN GMES & PEGT
- THE EDGE BILLION RINGGIT CLUB CORPORATE AWARDS CEREMONY
- LOGO & SLOGAN CONTEST IN CONJUNCTION WITH 30TH ANNIVERSARY
- MOTORCYCLE REFUELLING CONTINUATION CAMPAIGN
Takbir Raya Aidilfitri was attended by the Management of Gas Malaysia at our resource and training center in Shah Alam. We organized a town hall session at our resource and training center with the presence of Gas Malaysia's chairman, Tan Sri Wan Zulkiflee Wan Ariffin.
Dear Valued Shareholders,
During the year, we faced the resurgence of the Covid-19 pandemic and the reinstatement of the Movement Control Order (“MCO”) in the second half of 2021 with the Group's monthly volume of natural gas sold in 2021 falling to the lowest level down in July. In line with GDP growth, Gas Malaysia recorded a commendable performance in terms of gas volume sold as we have adapted to the challenges of the pandemic given the experience gained in the past year and leveraging our strong base .
17.67 226.9 sen millionRM
This was higher than the previous year's RM309.8 million, mainly due to higher cash flow from operating activities, consistent with the higher EBITZDA recorded during the current financial year. The amount will be used for the development of the NGDS network and the Group's non-NGDS activities.
Summary of Gas Volume Sold Based on Industry for FY2021
We recognize that managing operational risk is also an essential component in driving performance and ensuring the Group's long-term sustainability. RISK • This risk describes the potential loss of key talent and personnel, which may affect the Group's business operations.
OUR APPROACH TO SUSTAINABILITY
The Group is committed to complying with all applicable legislative requirements for occupational safety and health. Satisfaction The Group is committed to complying with all applicable legislative requirements for occupational safety and health.
203.3 million MMBtu
ECONOMIC
In this regard, the Group is committed to enforcing a strong culture of integrity through our Integrity and Governance Department, which was established in 2021. During the year under review, the Group continued to organize training sessions for all employees on awareness of bribery and corruption.
ENVIRONMENT
Agreement signing
374,398 litres
1,884,086 kWh
The Group also promotes energy and emissions efficiency through the use of combined heat and power (“CHP”) systems. The Group is also exploring the use of methane released from palm oil mill effluents (“POME”) to increase our gas reserves.
Total Amount: 19,923 tCO 2 e
During the year under review, the group signed an agreement with Kulim Greenergy Sdn Bhd to purchase 350,000 MMBtu of biomethane per annum from their palm oil mills. In addition, the group is talking to other landfill owners to explore options for energy-from-waste solutions.
Total Amount: 1,307 tCO 2 e
Climate change is the result of global warming, which is due to the increasing concentration of greenhouse gases (GHG) in the atmosphere caused by human activities. The Group manages its waste responsibly with the overall objective of reducing the amount of waste going to landfills.
TOTAL 5,308KG
SOCIAL
As part of our standard operating procedure, all third party work in the immediate vicinity of our gas plant requires approval and is further monitored by our operations and maintenance team to prevent damage. Despite the pandemic, we managed to implement a few meaningful initiatives inspired by these pillars to uplift the communities we serve, to help those affected by the floods and support the front lines involved in the fight against the pandemic.
TRUSTED, COMMITTED
Malaysian
Dato' Sri Che Khalib was previously a member of the Board and the Executive Committee of Khazanah Nasional Berhad from year 2000 to 2004. He has no family relationship with any Director and/or major shareholder of the Company, nor any personal interest in any business. arrangement involving the Company. She has no family relationship with any Director and/or major shareholder of the Company, nor any personal interest in any business deal involving the Company.
He is currently the Managing Director of the World Islamic Economic Forum Foundation and King George Financial Corp. He has no family relationship with any director and/or major shareholder of the Company nor any personal interest in any business arrangement involving the Company.
OUR DIVERSE AND DYNAMIC
Board Responsibilities
The Board is collectively responsible for promoting the long-term success of the Group, driving shareholder value and contribution to the wider society. His role is to ensure the leadership of the Group within a framework of prudent and effective controls that enables risk assessment and management. Committees focus on their areas delegated by the Board through relevant terms of reference.
This enables Board meetings to focus on strategy, governance and compliance, making the best use of Board time. The Board of Directors (the “Board”) recognizes the importance of corporate governance practices in enhancing shareholder value by implementing and maintaining them.
The Board of Directors (the “Board”) acknowledges the importance of corporate governance practice in enhancing shareholders’ value by implementing and maintaining
Board Composition Composition of the Board
In accordance with the MMLR, none of the Board members holds more than five directorships in listed companies. The profile of each of the Board members is presented on pages 62 to 70 of this Annual Report. Post-Covid State of the World Lecture Series Economic overview; Digital disruption in the banking sector; and Transformation, evolution and innovation in the automotive sector.
The policy allows exceptions, subject to annual review by the NRC and the board and annual shareholders. The Board of Directors believes that the seniority of the IDs on the Board does not prejudice their exercise of independent and objective judgment and the performance of their fiduciary duties in the best interests of the Company and the Group.
Board Remuneration
Examine and recommend to the board of directors suitable persons for appointment as members of the board of directors and general manager/executive director of the company, its commissions and its subsidiaries; annually review the performance of the members of the board of directors, its committees and the boards of directors of subsidiaries; Annually assess the size and effectiveness of the Board as a whole, its committees, the contribution of each individual director, including IDs, as well as the GCEO;.
Following the assessment, the NRC will consider and recommend measures to improve the effectiveness of the Board and its committees. The results of these evaluations form the basis for the NRC's recommendations to the board of directors for the re-election of directors at the next general meeting of the company.
Audit Committee (“AC”)
To determine the adequacy and effectiveness of the Group's administrative, operational and internal accounting controls and ensure that the Group operates in accordance with the prescribed procedures, codes of conduct and applicable legal and regulatory requirements. To review related party transactions and recurring related party transactions to ensure that the transactions are carried out on an arm's length basis, on normal commercial terms, in the best interests of the group and not to the detriment of the minority shareholders. Be an independent and objective party from management in the review of the company's and group's financial information presented by management for distribution to shareholders and the public.
Provide guidance and supervision of the company's and the group's internal and external auditors to ensure their independence from management. The Board had in February 2021 approved the creation of the Department of Integrity and Management with its objective to ensure the practice of excellent work culture among the employees with strong morals, ethics and integrity.
Risk Management and Internal Control
The Board manages and implements risk management and internal control through the Risk and Compliance Committee (“RCC”).
Engagement with stakeholdersThe RCC comprises
To ensure that shareholders are able to participate, effectively involve the Board and Senior Management, and make informed voting decisions at general meetings, the Board, with the assistance of the Company Secretary, has provided shareholders with sufficient knowledge and time to the resolutions that will be discussed and decided at the AGM by issuing the notice for AGM at least 28 days before the meeting. The notice contains details of the resolutions to be tabled and explanation of the proposed resolutions together with background information and reports or recommendations that are relevant.
Conduct of General Meetings
The Chairman of the
However, the company complied with Section 15.02(1)(b) of the MMLR, which sets out the requirement that listed issuers with a market capitalization of RM2 billion. and above must have at least one female director.
The board discloses
Large companies
- RISK MANAGEMENT
- GROUP’S RISK AND COMPLIANCE MANAGEMENT POLICIES AND PROCEDURES FRAMEWORK
- REPORTING STRUCTURE
- RISK IDENTIFICATION PROCESS AND ANALYSIS
- GAS MALAYSIA RISK REGISTER (“GRR”)
- BUSINESS CONTINUITY MANAGEMENT MANUAL (“BCMM”)
- GOVERNANCE AND CONTROL ENVIRONMENT
- RISK ASSESSMENT
- ANTI-BRIBERY AND ANTI-CORRUPTION POLICY AND FRAMEWORK
- KEY ELEMENTS OF INTERNAL CONTROL SYSTEM (“ICS”)
- CONTROL ACTIVITIES
- INFORMATION AND COMMUNICATION
- MONITORING
- PLO 171A, Jalan Angkasa Mas,
The management of risks is considered an integral part of the Group's management process. This is due to the constantly changing nature of the risks that the Group faces. Apart from the above, there were no significant changes in the nature of these activities of the Group and of the Company during the financial year.
There were no changes in the issued and paid-up capital of the Company during the financial year. The Group and the Company classify their trade receivables according to the nature of the customer accounts, ie Other receivables usually arise from transactions outside the normal operating activities of the Group and of the Company.
Other debts generally arise from transactions outside the normal course of business of the Group and the Company. The financial statements of the Group and the Company are presented in Ringgit Malaysia, the functional and presentation currency of the Company. See Note 3(aa)(iii) for the rights and obligations of the Group and the Company under the IBR and TPA.
