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Audit-practice-done - A Background of PBB Berhad The...

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A. Background of PBB Berhad The history of PPB Group Berhad which was incorporated in Malaysia in year 1968 which the company is a subsidiary of Kuok Brothers Sdn Bhd. Upon successfully listed on the Main Market of Bursa Malaysia, the company begins to engaging in property investment and investment holding especially in manufacturing and services, food, property, entertainment and agribusiness sectors primarily in Asia. PPB owns and operates a few retail or commercial properties particularly, which are the New World Park and the Whiteaways Arcade in Georgetown, Penang; as well as a shopping complex, Cheras LeisureMall, and an office building, Cheras Plaza in Taman Segar, Kuala Lumpur. PPB Hartabina Sdn Bhd, a wholly-owned subsidiary of PPB, undertaken by PPB group companies and parters is a property developer and also provides project management services for property development projects. PPB Group's main businesses are flour are animal feed milling and grains trading, more than that the company also manages downstream activities including livestock farming; food processing; bakery and marketing and distribution of consumer products. Besides food manufacturing sector, PPB also owns Golden Screen Cinemas Sdn Bhd which is the largest film exhibitor in Malaysia with 233 screens in 27 locations nationwide, conquering about 40% of domestic box office collections. PPB's strategic acquisitions and business ventures over the years have enabled it to successfully diversify its businesses, other business like environmental engineering and waste management; contract manufacturing and chemicals manufacturing which are under the Chemquest Group offers refuse, liquid waste, and garbage collection and disposal services. 1
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PPB Group has grown into a major conglomerate with assets and market capitalisation totaling RM17.1 billion and RM19.1 billion respectively as at 30 December 2013. PPB Group currently has operations in China, Vietnam, Indonesia, Myanmar, Thailand and Singapore and employs more than 3,940 employees in its domestic operations. Recently, the company has also devoted much attention to its fulfillment of corporate social responsibilities, seeing to the eminence of contributing positively to the progress of the ICT sector as well as maximizing value to its shareholders and other key stakeholders. Moreover, it has supported a wide spectrum of activities emphasizing on ongoing human capital development, sound corporate governance, social enrichment and environment conservation. B. CSR activities performed by PPB Group Berhad 1. Marketplace 1.1 Corporate governance 1.1.1 The Group has clearly stated the corporate governance statement during the financial year. “The Board of Directors of PPB Group Berhad is committed to maintaining a high standard of corporate governance and ensuring that effective self-regulatory controls exist throughout PPB and its subsidiaries to safeguard the Group’s assets.” 1.1.2 The board form by 7 directors which are 2 non-independent executive director, 3 independent non-executive directors, and 2 non-independent non-executive directors. In order
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