QL RESOURCES BERHAD INTEGRATED ANNUAL REPORT 2023 Feature Saujana Ballroom, Saujana Resort, Jalan Lapangan Terbang SAAS, 40150 Shah Alam, Selangor Darul Ehsan Wednesday, 30 August 2023 10:00 a.m. 26th Annual General Meeting Cover Rationale QL achieved satisfactory results with strong profit growth in business divisions. Meanwhile, we continued to optimise our business model to accelerate business development and to sustain solid growth. As a result, we enhanced the enterprise value of QL in 2023. During the year, we increased the Group’s revenue, implemented effective cost control and improved capital structure. Taking these measures, we expanded our business portfolio, further consolidated our leading position in the industry, and strengthened our profitability to enhance shareholder returns and to maximise enterprise value. What’s Inside SECTION To be the preferred global agro-based enterprise. Create nourishing products from agro resources, leading to benefit for all parties. About This Report Management Discussion And Analysis Sustainability Statement Financial Statements Chairman’s Statement QL At A Glance Leadership & Governance Appendices VISION MISSION OUR CORE VALUES Personality • Progressive • Trustworthy • Initiative • Humility Values • Integrity • Win-Win • Teamwork • Innovative Page 2 Pages 8 - 11 Pages 28 - 76 Pages 112 - 228 Pages 3 - 7 Pages 12 - 27 Pages 77 - 111 Pages 229 - 246 1 2 3 4 6 7 8 5 2 About This Report 3 Principal Activities 4 2023 Key Highlights 6 Our Presence 8 Chairman’s Statement 28 Overview & FY2023 Sustainability Highlights 32 Stakeholder Engagement 33 Materiality Assessment 36 Environmental Responsibility 43 Social Responsibility 66 Governance Responsiblity 77 Corporate Information 78 Profile of Board of Directors 93 Key Senior Management 94 Corporate Governance Overview Statement 103 Audit Committee Report 106 Statement on Risk Management and Internal Control 110 Additional Compliance Information 111 Statement of Directors’ Responsibility 229 List of Properties 231 Shareholders’ Analysis Report 234 Disclosure on Recurrent Related Party Transactions 238 Notice of Annual General Meeting Form of Proxy 113 Directors’ Report 119 Statements of Financial Position 121 Statements of Profit or Loss and Other Comprehensive Income 122 Consolidated Statement of Changes in Equity 124 Statement of Changes in Equity 125 Statements of Cash Flows 129 Notes to the Financial Statements 223 Statement by Directors 224 Statutory Declaration 225 Independent Auditors’ Report 8 7 6 5 1 2 3 12 Group Managing Director’s Review 14 Strategy 16 Value Creation Business Model 18 Business Review 26 Group Outlook 4 Navigation Icon CAPITALS OUR GROWTH STRATEGY STAKEHOLDERS Regional Replication Downstream Integration Enhance Branding & Product Innovation Financial FC Social SC Human HC Intellectual IC Manufactured MC Natural NC Strengthening Value Chain Sustainably Enhancing Performance Empowering Talents Integrating Technology Customers Vendors and suppliers Community Regulators and NGOs Employees Investors and shareholders Media
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