When Dreams Take Flight. Cover Rationale

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1 FRONT COVER

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3 Cover Rationale When Dreams Take Flight Spurred on by the tagline Your Dreams, Made Affordable, When Dreams Take Flight epitomises our long-standing commitment to realise the dreams of our customers. The dream of every Malaysian to own an affordable home is the driving force of our mission. The paper airplane is symbolic of that dream it represents the wings that carry the dream when the paper airplane takes light, the dream is realised. The illustration of various buildings in the distance denotes Hua Yang s strong presence across Malaysia, from its birthplace in Perak till its maiden foray into mainland Penang. 2

4 ABOUT US Since its inception in 1978, Hua Yang Berhad continues to hold steadfast to the belief that the vision of making affordable homes a dream come true for many Malaysians is a realistic and attainable goal. This is evident in the thousands of properties worth more than RM4.0 billion that we have completed across the nation. Today, Hua Yang has strengthened its presence as one of the nation s leading property developers in the affordable housing segment and strives to be the market leader. This is a testament to the perseverance and commitment of our experienced and dedicated staff in helping our customers realise their dreams. Building affordable homes is not our only ambition. With thoughtful and meticulous planning, our self-sustaining townships are a fusion of nature s wonders and modern innovations, which result in green spaces that help to raise living standards and improve quality of life. Not one to rest on its laurels, Hua Yang Berhad continues to forge ahead by building a better and brighter future for all and expanding its foothold across the nation. Taman Bercham Utara, Perak HUA YANG BERHAD ANNUAL REPORT 2017

5 OUR CORE VALUES OUR VISION Provide affordable housing for a developing nation OUR MISSION Empower Malaysians to achieve their dream homes Protect and enhance the interest of our stakeholders Ensure quality in our products and performance Dependable The smallest details get our full attention as we develop homes that owners can be proud of Reliable Hua Yang aspires to offer quality and reliable homes Efficient Performing eficiently is not a goal nor mission, it is our culture Affordable Providing Malaysians with affordable homes is our pioneering vision Motivated We strive to do our best in building homes that meet the needs of Malaysians Sustainable Sustainability is key in building a home for generations 4

6 OUR FOOTPRINT ACROSS MALAYSIA PENANG Meritus Seberang Perai, Penang Hua Yang marked a new milestone in 2015 by its maiden foray into mainland Penang with its land acquisitions in several prime locations namely Bukit Mertajam, Taman Juru and Seberang Perai. Making its debut is its residential project, Meritus Residensi which is located at the edge of Penang s irst bridge in Jalan Baru, Seberang Perai, Penang. The project comprises 480 units of serviced apartments and 15 retail lots that cater to the needs of urban lifestyles. This mixed development also consists of spacious 1 and 3-storey shop ofices, and is poised to be a thriving hotspot for rising entrepreneurs, as it is also strategically located near matured commercial areas such as Chai Leng Park and Perai Industrial Estate. HUA YANG BERHAD ANNUAL REPORT 2017

7 PERAK Bandar Universiti Seri Iskandar, Perak Strategically located in the bustling town of Bandar Universiti Seri Iskandar (BUSI), are two new residential developments Erica and Freesia. Erica comprises double-storey terraced houses that are designed for comfortable living and equipped with quality ittings and inishing. Built with practicality in mind, Freesia exudes modernity and is the ideal home for small families. Each unit of the single-storey Freesia comes with 3 bedrooms and 2 bathrooms, and offers residents a relaxing living space. Both Erica and Freesia are within close proximity to a myriad of amenities that includes a Tesco Superstore, a KFC drive-thru restaurant, major universities (UiTM and Universiti Teknologi Petronas), police station, wet market, schools, banks, healthcare facilities and bus station terminals. KLANG VALLEY Making waves in Klang Valley is Astetica Residences, the latest lifestyle serviced apartments located in the heart of Seri Kembangan. 34 storeys and 35 storeys in height, these towering residential masterpieces offer exquisite homes with comprehensive sky facilities and a range of practical layouts and built-up sizes suitable for large families, newly-weds and young adults alike. Astetica Seri Kembangan, Klang Valley 6

8 The Group currently has an on-going project located at Jalan Tampin. Senawang Link is a fully integrated commercial and industrial development that can accommodate all types of businesses. NEGERI SEMBILAN Senawang Seremban, Negeri Sembilan JOHOR Taman Pulai Hijauan (TPH), an integrated township development, is a relection of the Group s expansion in the Southern state of Johor, comprising residential homes and shop lots in 9 phases of development. The irst project within TPH began in Aerial view of Taman Pulai Hijauan, Johor HUA YANG BERHAD ANNUAL REPORT 2017

9 CONTENTS ABOUT HUA YANG 3 About Us 4 Our Vision 4 Our Mission 4 Our Core Values 5 Our Footprint Across Malaysia 9 Corporate Information 10 Corporate Structure CORPORATE HIGHLIGHTS 11 Five-Year Group Financial Highlights 13 Our Journey 15 Highlights of Our Newsboard PERFORMANCE REVIEW GROUP LEADERSHIP 19 Board of Directors 21 Proile of Directors 23 Other Information of Directors 24 Proile of Senior Management 26 Chairman s Statement 29 Management Discussion and Analysis Report 44 Corporate Responsibility Statement 47 Corporate Governance Statement 56 Audit Committee Report 59 Nomination Committee Report 61 Additional Compliance Information 62 Statement of Risk Management & Internal Control FINANCIAL STATEMENTS 65 Directors Report 69 Statements of Financial Position 71 Statements of Proit or Loss and Other Comprehensive Income 72 Statements of Changes in Equity 73 Statements of Cash Flows ADDITIONAL INFORMATION 140 List of Group s Properties 143 Analysis of Shareholdings 145 Notice of Annual General Meeting Proxy Form Enclosed 76 Notes to the Financial Statements 133 Supplementary Financial Information 134 Statement by Directors 134 Statutory Declaration 135 Independent Auditors Report Jalan Abdul Samad, Johor 8

10 CORPORATE INFORMATION Board of Directors Tan Sri Dato Seri Dr. Ting Chew Peh Chairman/ Independent Non-Executive Director Ho Wen Yan Chief Executive Oficer/ Executive Director Dato Tan Bing Hua Senior Independent Non-Executive Director Ho Mook Leong Non-Independent Non-Executive Director Chew Po Sim Non-Independent Non-Executive Director Chew Hoe Soon Non-Independent Non-Executive Director Dato Wan Azahari Bin Yom Ahmad Independent Non-Executive Director Audit Committee Chairman Tan Sri Dato Seri Dr. Ting Chew Peh Independent Non-Executive Director Members Dato Tan Bing Hua Senior Independent Non-Executive Director Chew Hoe Soon Non-Independent Non-Executive Director Remuneration Committee Chairman Dato Tan Bing Hua Senior Independent Non-Executive Director Members Tan Sri Dato Seri Dr. Ting Chew Peh Independent Non-Executive Director Chew Hoe Soon Non-Independent Non-Executive Director Nomination Committee Chairman Tan Sri Dato Seri Dr. Ting Chew Peh Independent Non-Executive Director Members Dato Tan Bing Hua Senior Independent Non-Executive Director Chew Hoe Soon Non-Independent Non-Executive Director Company Secretaries Leong Oi Wah (MAICSA ) Tan Hwai Lun (MIA 24085) Lam Cho Wai (MIA 37324) Registered Ofice C-21, Jalan Medan Selayang 1, Medan Selayang, Batu Caves, Selangor Darul Ehsan. Tel : Fax : kl@huayang.com.my Ofices in Malaysia Head Ofice C-21, Jalan Medan Selayang 1, Medan Selayang, Batu Caves, Selangor Darul Ehsan. Tel : Fax : kl@huayang.com.my Website : Perak Branch 123A, Jalan Raja Permaisuri Bainun (Jalan Kampar), Ipoh, Perak Darul Ridzuan. Tel : Fax : ipoh@huayang.com.my Johor Branch 53 & 55, Jalan Besi, Taman Sri Putri, Skudai, Johor Darul Takzim. Tel : Fax : jb@huayang.com.my Penang Branch Unit 3-07 & 3-08, Medan Perniagaan Pauh Jaya, Jalan Baru, Perai, Pulau Pinang. Tel : Fax : pg@huayang.com.my Auditors KPMG PLT (LLP LCA & AF 0758) Chartered Accountants Level 10, KPMG Tower 8, First Avenue, Bandar Utama Petaling Jaya Selangor Darul Ehsan Principal Bankers Alliance Bank Malaysia Berhad AMBank Berhad Bangkok Bank Berhad OCBC Bank (Malaysia) Berhad Public Bank Berhad RHB Bank Berhad Share Registrars Symphony Share Registrars Level 6, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, Petaling Jaya, Selangor Darul Ehsan. Tel : Fax : / 8152 Stock Exchange Listing Main Market of Bursa Malaysia Securities Berhad Listed on : 29 November 2002 Stock name : HuaYang Stock code : 5062 Sector : Properties Shariah Compliance Listing Shariah Advisory Council of the Securities Commission Malaysia listing on 26 May 2017 Roof Top of Sentrio Suites, Desa Pandan, Klang Valley HUA YANG BERHAD ANNUAL REPORT 2017

11 CORPORATE STRUCTURE Grandeur Park G Land Development Daya Niaga Bison Holdings Grand View Realty Agro-Mod Industries Johanjana Corporation Pembinaan Hua Yang Prisma Pelangi Yoon Lian Realty Sendirian Berhad *30.95% Magna Prima Berhad Prop Park Sunny Mode Tinggian Development Sendirian Berhad *Investment in associate 10

12 FIVE-YEAR GROUP FINANCIAL HIGHLIGHTS HUA YANG BERHAD ANNUAL REPORT 2017

13 Erica & Bandar Universiti Seri Iskandar, Perak 12

14 OUR JOURNEY Jalan Gopeng, Ipoh Hua Yang Berhad was incorporated on 28 December 1978 as a private limited company, Heng Po. The Group started its irst project in Ipoh, Perak consisting of eight units of four-storey shops at Jalan Gopeng, Ipoh. The project was completed in September The Group acquired 838 acres of land in Bandar Universiti Seri Iskandar, Hua Yang s irst integrated township in Perak consisting of residential and commercial units that was launched in year Bandar Universiti Seri Iskandar, Perak Taman Pulai Indah, Johor Extending its reach into the southern state, the Group progressively acquired 477 acres of freehold land in Johor Bahru for a township development project, Taman Pulai Indah that was launched in March Image for illustration only Hua Yang was listed on the Main Board of Bursa Malaysia on 29 November HUA YANG BERHAD ANNUAL REPORT 2017

15 Seri Kembangan, Klang Valley The Group acquired acres of land in Sungai Besi to develop One South, a mixed development which is the Group s lagship project in Klang Valley. The irst phase of One South was launched at the start of In October 2008, the Group launched its irst high-rise in Klang Valley, Symphony Heights serviced apartments, which was successfully completed in November The Group further expands in Johor with its progressive land acquisition of 140 acres to develop Taman Pulai Hijauan, a township consisting of residential and commercial units. Medan Selayang, Klang Valley Taman Pulai Hijauan, Johor At the beginning of 2010, the Group launched Senawang Link, an integrated commercial and industrial development project in Seremban. Seremban, Negeri Sembilan The Group ventured into a new market by acquiring 4.9 acres of land in Bukit Mertajam, Penang. Hua Yang further strengthened its presence in Penang via the acquisitions of 9.5 acres of land in Taman Juru and 8.59 acres of land in Seberang Perai. Its maiden launch, Meritus Residensi, is a 44-storey tower comprising 480 units of serviced apartments and 15 retail shops. Strategically located near matured commercial hotspots such as Chai Leng Park and Perai Industrial Estate, this project makes up the irst phase of a 6.98-acre freehold mixed development. Upon completion, Meritus Residensi is poised to be one of the tallest skyscrapers in the Seberang Perai area. Seberang Perai, Penang 14

16 05 May 2016 Team Building at Lost World of Tambun, Ipoh (13-15 May) 06 June 2016 In the Spotlight, Bursa Malaysia (14 June) 08 August 2016 Majlis Pecah Tanah Program Perumahan Rakyat Sri Iskandar Perak (PPR) (22 August) 09 September 2016 Company Trip to Ho Chi Minh, Vietnam (15-18 September) a b 11 November 2016 a) First Aider (22 23 November) b) Segi College Students Assignment Site Visit to Astetica Residences project site (18 November) HUA YANG BERHAD ANNUAL REPORT 2017

17 12 December 2016 Behavioural Event Interview (1 & 8 December) 01 January 2017 Time Management & Productivity (9 January) b a 02 February 2017 a) CNY Event, Hua Yang HQ (6 February) b) Problem Solving & Decision Making (16 February) a c b 03 March 2017 a) Emergency Response Plan (6 & 7 March) b) Astetica Residences Exclusive Property Showcase (11 March) c) Meritus Residensi, Penang Oficial Launch & CNY Celebration (31 March) One Seri Kembangan, Klang Valley 16