PECCA GROUP BERHAD - .Analysis of Shareholdings 94 ... upholstery for car seat covers ... Leong Wai

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  • PEC

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    P B

    ER

    HA

    D AN

    NU

    AL REPO

    RT 2017

    Annual Report 2017

    PECCA GROUP BERHAD(Company No. 909531-D)

    PECCA GROUP BERHAD(Company No. 909531-D)

    No 1, Jalan Perindustrian Desa Aman 1A, Industri Desa Aman,Kepong 52200, Kuala Lumpur, Malaysia

    Tel : +603 6275 1800 / 3800Fax : +603 6275 9867E-mail : enquiry@peccaleather.com

    www.peccaleather.com

  • CONTENTS About Us 2

    Corporate Information 4

    Board of Directors 6

    Key Management Profile 9

    Management Discussion & Analysis 11

    Corporate Social Responsibility 14

    Corporate Governance Statement 15

    Audit and Risk Management

    Committee Report 27

    Statement of Risk Management

    and Internal Control 31

    Financial Statements 35

    Analysis of Shareholdings 94

    List of Properties 97

    Notice of Annual General Meeting 98

    Proxy Form

  • PECCA GROUP BERHADS

    principal business activities are in the styling,

    manufacturing and installation of leather

    upholstery for seat covers for the automotive

    and aviation industries.

    VISIONTo be the leading leather upholstery

    manufacturer globally.

    MISSIONTo keep exceeding our customers

    expectations in design, quality and innovation.

    Pecca Group Berhad ANNUAL RePoRt 20172

    About Us

  • 3AnnuAl RepoRt 2017 Pecca Group Berhad

    Product & Services

  • Pecca Group Berhad ANNUAL RePoRt 20174

    Corporate Information

    BOARD Of DIRECTORSDAto MoHAMeD SUFFIAN BIN AWANG (Independent Non-executive Chairman)

    DAtUK teoH HWA CHeNG(Group Managing Director)

    DAtIN SAM YIN tHING (executive Director)

    tAN JIN SUN(executive Director)

    SAM CHee KeNG(executive Director)

    DAto DR NoRRAeSAH BINtI HAJI MoHAMAD(Independent Non-executive Director)

    LeoNG KAM WeNG(Independent Non-executive Director)

    AUDIT & RISK MANAGEMENT COMMITTEELeoNG KAM WeNG (Chairman)DAto MoHAMeD SUFFIAN BIN AWANG DAto DR NoRRAeSAH BINtI HAJI MoHAMAD

    NOMINATION COMMITTEEDAto MoHAMeD SUFFIAN BIN AWANG (Chairman) DAto DR NoRRAeSAH BINtI HAJI MoHAMAD LeoNG KAM WeNG

    REMUNERATION COMMITTEEDAto DR NoRRAeSAH BINtI HAJI MoHAMAD (Chairman)LeoNG KAM WeNG DAtUK teoH HWA CHeNG

    COMPANY SECRETARIEStAI YIt CHAN (MAICSA 7009143)tAN AI NING (MAICSA 7015852)

    REGISTERED OffICELot 6.05, Level 6, KPMG tower, 8, First Avenue, Bandar Utama,47800 Petaling Jaya, Selangor Darul ehsantelephone No. (03) 7720 1188Facsimile No. (03) 7720 1111

    SHARE REGISTRARBoardroom Corporate Services (KL) Sdn Bhd(3775-X)Lot 6.05, Level 6, KPMG tower8, First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor Darul ehsantelephone No. (03) 7720 1188Facsimile No. (03) 7720 1111

    BUSINESS ADDRESSNo.1, Jalan Perindustrian Desa Aman 1A, Industri Desa Aman, Kepong, 52200 Kuala Lumpur. telephone No. (03) 6275 1800Facsimile No. (03) 6277 9809email: enquiry@peccaleather.comWebsite: www.peccaleather.com

    LISTINGMain Market of Bursa Malaysia Securities Berhad(Listed on 19 April 2016)Stock Code 5271Stock Name PeCCA

    AUDITORSKPMG PLTLevel 10, KPMG tower, 8, First Avenue, Bandar Utama, 47800 Petaling Jaya,Selangor Darul ehsantelephone No. (03) 7721 3388Facsimile No. (03) 7721 3399

  • 5AnnuAl RepoRt 2017 Pecca Group Berhad

    Corporate Structure

    Styling, manufacturing, distribution and installation of leather upholstery for car seat covers

    Supply of leather cut pieces to the automotive leather upholstery industry

    Styling, manufacturing, distribution and installation of car door trim covers and covers for car accessories

    Supply of leather hides to the automotive upholstery industry

    Provision of sewing services for fabric car seat covers

    Provision of wrapping and stitching services

    Pecca Leather Sdn Bhd

    (PLeather) 100%

    Supply of car seat covers and other products for

    aftermarket

    Everest Empire Sdn Bhd

    (EEmpire) 100%

    Currently dormant. Intended principal activity of supplying leather upholstery for the automotive industry

    Pecca Leather (Thailand) Limited

    (PThailand) 49%

    Manufacturing, repair, refurbishment, distribution and installation of aircraft leather seat covers and other related

    products

    Pecca Aviation Services

    Sdn Bhd (PAviation) 60%

  • Pecca Group Berhad ANNUAL RePoRt 20176

    Board of Directors

    Front from left to right:

    DATIN SAM YIN THINGExecutive Director

    DATO MOHAMED SUffIAN BIN AWANGIndependent Non-Executive Chairman

    DATO DR NORRAESAH BINTI HAJI MOHAMADIndependent Non-Executive Director

    Back from left to right:

    MR. SAM CHEE KENGExecutive Director

    MR. TAN JIN SUNExecutive Director

    DATUK TEOH HWA CHENGGroup Managing Director

    MR. LEONG KAM WENGIndependent Non-Executive Director

  • 7AnnuAl RepoRt 2017 Pecca Group Berhad

    Profile of Directors

    DATO MOHAMED SUffIAN BIN AWANGMale, aged 46, a Malaysian

    Dato Mohamed Suffian bin Awang was appointed as the Independent Non-executive Director of Pecca Group Berhad on 3 December 2014. Subsequently he was re-designated as the Independent Non-executive Chairman on 4 February 2015. He obtained his Diploma in Public Administration and Bachelor of Law Degree from Universiti teknologi Mara Shah Alam in 1992 and 1996 respectively. He has 14 years of legal practice and 6 years of civil service working experience.

    Presently, he is attached to Perumahan Rakyat 1 Malaysia (PR1MA) as Vice President of the Chairmans office, which he assumed since 2014. He is involved in the preparation and development of proposals involving special projects initiated by the Government Ministries and State Regulators for Chairmans office.

    He is also the independent Non-executive Director of Felda Global Ventures Holdings Berhad. He sits on the boards of Koperasi Permodalan Sukarelawan Kuala Lumpur Berhad, Perbadanan Nasional Berhad and Medical Device Authority.

    Dato Mohamed Suffian had attended all the 5 board meetings held in financial year 2017.

    He is the Chairman of our Nomination Committee and a member of our Audit and Risk Management Committee.

    DATUK TEOH HWA CHENGMale, aged 49, a Malaysian

    Datuk teoh Hwa Cheng is the Group Managing Director and founder of Pecca Group. He was appointed to the Board of Pecca Group Berhad on 27 July 2010. He brings with him more than 25 years of business experience in the leather goods industry.

    He established Pecca Leather Sdn Bhd (PLeather) in 2000 to focus on the automotive leather upholstery industry. He was instrumental in our continuous expansion in the leather seat covers business, both locally and internationally. He is responsible for leading the overall strategic planning and the charting of long term objectives of our Pecca Group.

    He does not hold any directorship in other public companies or listed issuers.

    Datuk teoh Hwa Cheng had attended all the 5 board meetings held in financial year 2017.

    He is a member of our Remuneration Committee.

    DATIN SAM YIN THINGfemale, aged 46, a Malaysian

    Datin Sam Yin thing is the executive Director of Pecca Group Berhad. She was appointed to the Board on 31 october 2011. She is currently responsible for overseeing the purchasing functions of our Pecca Group, especially those in relation to vendor development for key raw materials. these include leather and PVC raw materials, where she has extensive knowledge from her involvement in the leather industry for the past 20 years.

    She does not hold any directorship in other public companies or listed issuers.

    Datin Sam Yin thing had attended all the 5 board meetings held in financial year 2017.

    TAN JIN SUNMale, aged 48, a Malaysian

    tan Jin Sun was appointed as the executive Director of Pecca Group Berhad on 3 December 2014. He is also the Chief executive officer of PLeather. He obtained his Associate membership of the Chartered Institute of Management Accountants (CIMA) in 1996 and is a Chartered Accountant with Malaysian Institute of Accountants.

    He has more than 25 years of working experience in finance and management.

    In July 2011, he joined PLeather as Chief Financial officer. He was subsequently promoted to Chief executive officer of PLeather in 2012 and is responsible to ensure the development and proper management of organisation resources for the implementation of business strategies to achieve long term financial objectives to sustain the business of the Pecca Group.

    He does not hold any directorship in other public companies or listed issuers.

    Mr. tan Jin Sun had attended all the 5 board meetings held in the financial year 2017.

  • Profile of Directors(contd)

    Pecca Group Berhad ANNUAL RePoRt 20178

    SAM CHEE KENGMale, aged 38, a Malaysian

    Sam Chee Keng was appointed as the executive Director of Pecca Group Berhad on 3 December 2014. He is also the executive Director of PLeather. He has more than 20 years of working experience specialising in research and development of car seat covers.

    He does not hold any directorship in other public companies or listed issuers.

    Mr. Sam Chee Keng had attended all the 5 board meetings held in financial year 2017.

    DATO DR NORRAESAH BINTI HAJI MOHAMADfemale, aged 69, a Malaysian

    Dato Dr Norraesah binti Haji Mohamad is our Independent Non-executive Director. She was appointed to our Board on 30 July 2015. She obtained a PhD (economics Science) International economics and International Finance from University of Paris I, Pantheon-Sorbonne, France in 1986.

    She has over 43 years of working experience in the field of banking, finance, investment, intern