WHAT'S INSIDE
1 ABOUT US
- Vision, Mission
- Core Values
- Corporate Prole
- Worldwide Operation
- Corporate Information
2 THE YEAR IN BRIEF
- Financial Highlights
- Corporate Calendar
- Sustainability Statement
3 FROM THE BOARD OF DIRECTORS
AND KEY SENIOR MANAGEMENT
37 Management Discussion and Analysis
44 Prole of the Board of Directors
49 Prole of the Key Senior Management
GOVERNANCE
4 | 53 | Audit Committee |
58 | Remuneration Committee | |
61 | Nomination Committee | |
67 | Corporate Governance Overview Statement | |
83 | Additional Compliance Information | |
84 | Statement on Risk Management and | |
Internal Control | ||
5 | 87 | Statement of Directors' Responsibility |
FINANCIAL STATEMENTS | ||
88 | Audited Financial Statements | |
6 | ADDITIONAL INFORMATION | |
206 | Summary of Signicant Recurrent | |
208 | Related Party Transactions | |
Top 10 List of Properties | ||
210 | Analysis of Shareholdings | |
213 | Notice of Twenty-Third | |
Annual General Meeting | ||
219 | Statement Accompanying Notice of | |
Twenty-Third Annual General Meeting |
Proxy Form
MISSION
To accelerate the
global energy transition while enhancing value for all our stakeholders.
VISION
To deliver reliable and competitive solutions to the energy industry with net zero carbon emissions by the year 2026.
02 | Wah Seong Corporation Berhad | A n n u a l R e p o r t 2022 |
PASSION
We will embrace our
company's vision, energy and growth plans in a passionate manner.
C O R E
VALUES
PERFORMANCE BASED | COMMITTED TO | SOCIALLY RESPONSIBLE |
Everyone in Wasco has the | CUSTOMERS | We will treat everyone with |
same opportunity to receive | We will meet customers' | respect and empathy. We put |
rewards, career and | expectations and deliver on | value on being charitable, |
professional advancement | our commitments every | caring for the environment and |
based on their capabilities and | time, all the time. | supporting our stakeholder |
achievement. | communities. |
INTEGRITY | INTOLERANT TO WASTE | SAFETY |
We will always act with integrity and | We are always aware and | We will conduct our operations in the |
will remain professional and | mindful of operating at our | safest manner possible, ensuring no |
accountable while operating in an | most efficient in terms of cost, | harm to people and no damage to |
open and transparent manner. | time and opportunity. | the environment. |
ONLY SUSTAINABLE PROFIT AND GROWTH WILL PERPETUATE
OUR BUSINESS AND ENABLE ALL OF THE ABOVE
A n n u a l R e p o r t 2 0 2 2 | Wah Seong Corporation Berhad | 03 |
CORPORATE PROFILE
A Rising Global Energy Service Provider
Once a medium-sized Malaysian enterprise, Wah Seong Corporation Berhad incorporated on 9 October, 1999 has evolved into an international Energy Solutions Services and Industrial Services group. Listed on the Main Market of Bursa Malaysia Securities Berhad, we have established footprints in almost 17 countries worldwide.
As a globally integrated energy infrastructure group, we have positioned our Energy Solutions Services Division and Industrial Services Division to be our main strategic business pillars.
Our Energy Solutions Services Division provides world-class specialised pipe coating, corrosion protection services, EPC, fabrication and rental of gas compressors and process equipment, as well as various E&P products and services for the international oil and gas sector. Meanwhile, our Industrial Services Division is involved in renewable energy, agriculture development and infrastructure materials. Through this Division, we have grown to be one of the leading service providers of process equipment in Asia, serving the plantations, oleo-chemical, petrochemical and power generation industries. We are also one of the top distributors of infrastructure and building materials in Malaysia.
Seeing no limits to the future, we aim to grow through innovation and productivity to be a world class and profitable, integrated energy infrastructure group. We endeavour to serve the needs of both our internal and external stakeholders by enhancing our corporate values that is driven by our uniqueness and capabilities.
Alongside this, we manage both our local and global operations with interests for health, safety and the environment. Fulfilling our corporate responsibility by according the highest priorities to these principles are prerequisites for the success of our business while also demonstrating our commitment to sustainable development and the communities which we serve.
04 | Wah Seong Corporation Berhad | A n n u a l R e p o r t 2022 |
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Wah Seong Corporation Bhd published this content on 17 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 08:36:11 UTC.