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197

UEM EDGENTA BERHAD

2016 ANNUAL REPORT

ABOUT

UEM EDGENTA

STRIVING

FOR GROWTH

PERFORMANCE

REVIEW

CORPORATE

FRAMEWORK

LEADERSHIP

SUSTAINABILITY

STATEMENT

TRANSPARENCY

FINANCIAL

REVIEW

ACCOUNTABILITY

1. CORPORATE INFORMATION

The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main

Market of Bursa Malaysia Securities Berhad. The registered office of the Company is located at Level 17, Menara UEM,

Tower 1, Avenue 7, The Horizon, Bangsar South City, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur.

The Company regards UEM Group Berhad and Khazanah Nasional Berhad, both incorporated in Malaysia, as its

immediate and ultimate holding companies respectively. Related companies in these·financial statements refer to

member companies within the UEM Group of companies.

The principal activities of the Company are investment holding and provision of management services to its subsidiaries.

The principal activities of the subsidiaries, joint ventures and associates are described in Note 44.

There have been no significant changes in the nature of the principal activities during the financial year, other than the

acquisition of KFM Holdings Sdn. Bhd. (“KFM”) and Asia Integrated Facility Solutions Pte. Ltd. (“AIFS”) as further

discussed in Note 17. KFM provides integrated facilities management services, green technology and sustainability

services in both Malaysia and United Arab Emirates, while AIFS provides integrated facilities management services,

healthcare facilities management services, housekeeping and patient management services with presence in Singapore,

Taiwan and Malaysia.

The financial statements were authorised for issue by the Board of Directors in accordance with a resolution of the

directors on 27 March 2017.

2. SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of preparation

The financial statements of the Group and of the Company have been prepared in accordance with Financial

Reporting Standards (“FRS”) and the requirements of the Companies Act, 1965 in Malaysia. At the beginning of the

current financial year, the Group and the Company adopted new and revised FRS which are mandatory for financial

periods beginning on or after 1 January 2016 as described fully in Note 2.2.

The financial statements of the Group and of the Company have also been prepared on a historical cost basis

except as disclosed in the accounting policies below.

The financial statements are presented in Ringgit Malaysia (“RM”) and all values are rounded to the nearest

thousand (RM’000) except when otherwise indicated.

N O T E S T O T H E

FINANCIAL

STATEMENTS

for the year ended 31 December 2016