Co

nso

lid

ate

& Fo

cus

Consolidate and Focus

02 Performance Highlights

04 Corporate Information

06 Group Structure

08 Directors’Profile

13 ProfilesofKeySeniorManagement

14 Executive Chairman’s Statement

25 Corporate Governance Statement

36 Audit Committee Report

39 StatementonRiskManagementandInternalControl

42 Financial Statements

145 Other Information

146 Statistics on Shareholdings

149 Properties of the Group

153 NoticeoftheFifthAnnualGeneralMeeting

ProxyForm

COntEntS

2

Annual Report 2016

performance highlights

fY 2013 fY 2012fY 2014fY 2015(rm’000 unless otherwise stated)

(1)

(1)

(1)(1)

(1)(1)

(2)

Notes:(1) Excludes discontinued operations. (2) FY2012 represents the 18-month financial period ended 30 June 2012 and comprises the consolidated financialresultsof: –AICGroupforthe18monthsfinancialperiodfrom1January2011to30June2012. –Jotech Group and AutoV Group for the period from 25 May 2012, being the completion date of the Merger, to30June2012.

fY 2016

Turnover 255,628 299,368 318,963 387,875 220,519(Loss)/Profitbeforetaxation 13,933(Loss)/Profitaftertaxation 11,871Net(loss)/profit 12,217Net(loss)/earningspershare(sen)-basic 0.438Property,plantandequipment 126,079 133,035 177,253 209,455 225,585Totalassets 493,874 521,533 500,106 554,541 585,322Shareholders’funds 294,782 311,399 348,750 382,311 403,734 Nettangibleassets 264,733 269,054 261,786 275,716 275,918 Totaldebt 37,353 47,428 56,022 70,658 70,084 Totaldebt/Shareholders’funds(times) 0.13 0.15 0.16 0.18 0.17Pre-tax(loss)/profit/Turnover(%) 6.32Pre-tax(loss)/profit/Sharecapital(%) 2.64Pre-tax(loss)/profit/Totalassets(%) 2.38Pre-tax(loss)/profit/Shareholders’funds(%) 3.45Currentratio(times) 2.28 2.06 1.84 1.78 1.61

(13,138) (38,062) (35,412) (15,043) (19,741) (45,802) (37,377) (20,658) (15,843) (41,297) (37,186) (20,698) (0.294) (0.767) (0.697) (0.392)

(5.14)(1) (12.71) (11.10) (3.38) (2.44)(1) (7.07) (6.58) (2.85) (2.66)(1) (7.30) (7.08) (2.71) (4.46)(1) (12.22) (10.15) (3.93)

(1)

(1)

(1)

(1)

(1)

(1)

(1)

(1)

3

Annual Report 2016

performance highlights (cont’d) 3

Revenue NetProfit/(Loss) TotalAssetsSegments/Divisions: RM’000 RM’000 RM’000

fY 2016

(2,203)

(3,489) (191) (18,998) (14,552) (1,291)

(83,912)

(15,843)

Revenue NetProfit/(Loss) TotalAssetsSegments/Divisions: RM’000 RM’000 RM’000

fY 2015

IMS PrecisionMachining,Stamping&Tooling 91,793 9,448 84,104Semiconductor 37,842 68,307AutomotiveComponentsDesign&Manufacturing 162,935 116,460

IMS:Total 292,570 268,871Energy 12 115,372Resources 6,568 76,324investment holding 218 60,295 continuing operations 299,368 520,862 Discontinuedoperations 33,562 1,704 18,526Customerrelationships 7,104Goodwillarisingonconsolidation 34,165Consolidation adjustments -

Total 332,717 521,533

(3,615) (9,057)

(3,224) (1,923) (326) (37,528) (43,001)

(213) (59,124)

(41,297)

*

Note: * Including gain on disposal of discontinued operations of RM8,285,000

IntegratedManufacturingServices(“IMS”): PrecisionMachining,Stamping&Tooling 97,484 9,017 101,726Semiconductor 31,387 63,179AutomotiveComponentsDesign&Manufacturing 119,430 1,312 89,930

IMS:Total 248,301 8,126 254,835energy 1,018 143,360resources 6,301 68,066Investmentholding 8 70,376 ContinuingOperations 255,628 536,637 Discontinuedoperations 2,358 12,006Customerrelationships 6,709Goodwillarisingonconsolidation 22,434Consolidation adjustments - -

Total 257,986 493,874

4

Annual Report 2016

corporate information4

Board of directors

datuk seri panglima (dr.) goh tian chuan, JpGroup Executive Chairman

Kong Kok KeongGroupDeputyChairman

ooi Boon pinChiefExecutiveOfficer(“CEO”)ofAICGroup/ExecutiveDirector

chen heng munExecutive Director/Group Finance Director ash’ari Bin ayubSenior Independent non-Executive Director Wong Zee shinIndependent non-Executive Director mej Jen dato’ mokhtar Bin perman (rtd)non-Independent non-Executive Director

Yong nam YunCEOofAutoVGroup/AlternateDirectortoKongKokKeong

aUdit committee

Ash’ariBinAyub(Chairman)Wong Zee ShinMejJenDato’MokhtarBinPerman(Rtd)

nominating committee

Ash’ariBinAyub(Chairman)Wong Zee ShinMejJenDato’MokhtarBinPerman(Rtd)

remUneration committee

Ash’ariBinAyub(Chairman)DatukSeriPanglima(Dr.)GohTianChuan,JPWong Zee Shin

5

Annual Report 2016

corporate information (cont’d)

companY secretaries

Seow Fei San (MAICSA 7009732)LawMeePoo(MAICSA 7033423)

eXternal aUditor

KPMG

internal aUditor

AxcelasiaColumbusSdnBhd(formerly known as Columbus Advisory Sdn Bhd)

solicitors

LeeChoonWan&Co.Mah-Kamariyah&PhilipKoh

registered office

Wisma AIC Lot3,PersiaranKemajuanSeksyen1640200ShahAlamSelangor Darul EhsanTel : +60355431413Fax : +60355432045

share registrar

TricorInvestor&IssuingHouseServicesSdnBhd(formerly known as Equiniti Services Sdn Bhd) Unit32-01,Level32,TowerAVerticalBusinessSuite,Avenue3BangsarSouth,No.8,JalanKerinchi59200KualaLumpurTel : +60327839299Fax : +60327839222

principal BANKERS/FINANCIERS

AmBank(M)BerhadBankIslamMalaysiaBerhadCIMBBankBerhadCitibankBerhadMalaysianIndustrialDevelopmentFinanceBerhadMalayanBankingBerhadOCBCBank(Malaysia)BerhadPublicBankBerhadRHB Bank BerhadStandardCharteredBankMalaysiaBerhadUnitedOverseasBank(Malaysia)Berhad

6

Annual Report 2016

Asat17October2016

groUp strUctUre

7

Annual Report 2016

groUp strUctUre (cont’d)Asat17October2016

8

Annual Report 2016

directors’ profile

datUK seri panglima (dr.) goh tian chUanSSAP, SPDK, PGDK, ASDK, JP, PhD(h)Group Executive Chairman, Malaysian Male, aged 55

DatukSeri Panglima (Dr.)GohTianChuan, JP is ourfounder and Group Executive Chairman. He was appointedtoourBoardofDirectors(“Board”)on20July2011andasamemberof theRemunerationCommitteeon 28 March 2012. He is also a Non-Executive Director

(appointedon17December2014)ofNuEnergyGasLimited(“NGY”),asubsidiaryoftheGlobaltecGroupwhichislistedon

the Australian Securities Exchange.

DatukSeriPanglima(Dr.)GohTianChuan,JPgraduatedfromtheRoyalMalaysiaPoliceCollegein1982andwasaSeniorPoliceOfficerattachedtothe

policeheadquartersKotaKinabalu,Sabah,Malaysiaforthirteen(13)years.Hestartedhisownbusinessafter leavingthepoliceforce in1994.Hisbusinessesatpresent,apart fromhis investments inseveralpublic listedcompaniescoveramultitudeofindustries from investmentholding toplantationsandpropertydevelopment.DatukSeriPanglima(Dr)GohTianChuan,JPisactivelyinvolvedincommunityactivities/services and is holding the post of Vice President of the Federation of ChineseAssociations Malaysia (Huazong) and the post of President of The Federation ofChineseAssociationsSabah(FCAS).

On 31 May 2012, a merger exercise which integrated the then AIC CorporationBerhad (“AIC”), JotechHoldingsBerhad (“Jotech”) andAutoVCorporationBerhadrespectivegroupofcompaniesunderourCompany(“Merger”)wascompleted.DatukSeriPanglima (Dr.)GohTianChuan, JPwas theExecutiveChairmanofAICandJotech. He was appointed to the board of directors ofAIC on 15 June 2006. HewasalsoappointedasamemberoftheRemunerationCommitteeofAICon31July2006.Hewas redesignatedasExecutiveChairmanofAICon2 July 2007.DatukSeriPanglima(Dr.)GohTianChuan,JPwasappointedtotheboardofdirectorsofJotechon1June2006andwasalsotheChairmanoftheRemunerationCommitteeofJotech.

On2October2006,hewasconferredthetitleofPanglimaGemilangDarjahKinabalu(“PGDK”)whichcarriesthetitleof“Datuk”bytheHonourableHeadofStateofSabah,Malaysia.OnDecember2011,hewasappointedasJusticeof thePeace(“JP”)bytheHonourableHeadofStateofMalacca,Malaysia.On26December2013,hewasconferred the title of Sri SultanAhmad Shah Pahang (“SSAP”) which carries thetitleof“Dato’Sri”bytheHonourableSultanAhmadShahofPahangDarulMakmur,Malaysia.On 4October 2014, hewas conferred the awardSeri PanglimaDarjahKinabalu (“SPDK”) by the Honourable Head of State of Sabah, the highest stateawardinSabahwhichcarriesthetitle‘DatukSeriPanglima’.

Based on his experiences as a Senior Police Officer and Corporate Leader inMalaysia,hewasconferredHonoraryDoctorateofCivilLawsbyEuropeanUniversitySwitzerlandon7April2012.

9

Annual Report 2016

directors’ profile (cont’d)

Kong KoK KeongGroup Deputy Chairman, Malaysian Male, aged 62

ooi Boon pinCEO of AIC Group/Executive Director, Malaysian Male, aged 58

Kong Kok Keong was appointed to our Board on 28March 2012 as theGroup Deputy Executive Chairman (Non-Independent Non-Executive)andwas theExecutiveChairman ofAutoVGroup until his re-designationasGroup Deputy Chairman on 21 December 2015. He was appointed aNon-ExecutiveDirectoron21August2014andlaterredesignatedasNon-ExecutiveChairmanofNGYon17December2014. Kong Kok Keong obtained his B.A (Honours) in Business Studies fromLeicesterPolytechnic,UnitedKingdominJuly1979.HestartedhiscareerwithBinderHamlyn(CharteredAccountants)inUnitedKingdomasanelectronicdataprocessingsupervisorfromSeptember1979toJanuary1983.HethenreturnedtoMalaysiaandjoinedRashidHussainSecuritiesSdnBhdasaFinanceManagerfromApril1983toAugust1984.HemovedontoLarutTinFieldsBhdasanaccountantfromSeptember1984toAugust1985.FromSeptember1985toOctober1987,hewastheFinancialControllerofKimaraSecuritiesSdnBhdbeforejoiningFountainIndustriesSdnBhdasanaccountant fromJanuary1988toDecember1988.Subsequently,hewasaDirectorofVisionplanSystems(M)SdnBhdfromJanuary1989toApril1990.FromMay1990toMarch1992,hewasacommissioneddealer’srepresentativeforArab-MalaysianSecuritiesSdnBhd.HelaterjoinedInnosabahSecuritiesSdnBhdandservedasanExecutiveDirectorfromApril1992toDecember2001. KongKokKeongwas theExecutiveChairmanofAutoV from15April2006 to21December2015.

OoiBoonPinwasappointedtoourBoardon28March2012asanExecutiveDirector and he is the CEO of AIC Group.

HegraduatedwithanHonoursDegree inManufacturingTechnology fromtheNationalInstituteforHigherEducation(UniversityofLimerick),Irelandin1981.Whilestudyingforhisdegree,hejoinedAnalogDevicesB.V.,Ireland,in1978,acompanyinvolvedindesignandwaferfabrication,assemblyandtestofsemiconductors,asaProductDevelopmentEngineerand laterasaProcessEngineer in theassembly department.Uponhis return toMalaysiain1981,hejoinedMicro-MachiningSdnBhd,asaQualityAssuranceEngineerwherehewasinchargeofqualityassuranceintoolroomandleadframestampingfacility. He was promoted to the position of Project Engineering Manager andwas responsible for thedevelopment of new tool designsandend-of-lineassemblyequipmentfromdesigntomanufacturing.In1985hefoundedProdelconandisitsManagingDirectorfrom1996tillnow.HewasanExecutiveDirectorofJotechsince30April1997butwasredesignated as a non-Independent non-Executive Director on 20 August 2008. He is also the Chairmanof theTechnicalAdvisoryCommittee forAppliedEngineeringat thePenangSkillsDevelopmentCentre (“PSDC”)andacouncilmemberofPSDC.Hewasawarded thePingatKelakuanTerpujibytheGovernorofPenanginJuly2006.

10

Annual Report 2016

chen heng mUnExecutive Director/Group Finance Director, Malaysian Male, aged 46

ash’ari Bin aYUBSenior Independent Non-Executive Director, Malaysian Male, aged 74

directors’ profile (cont’d)

Chen Heng Mun was appointed to our Board on 28 March 2012 as anExecutive Director and he is also our Group Finance Director. He is also a Non-ExecutiveDirector(appointedon1January2015)ofNGY.

Prior topassing theprofessionalexamsconductedby the thenMalaysianAssociationofCertifiedPublicAccountantsin1995,ChenHengMunworkedforKPMG,an internationalaccountingfirm fromJanuary1991 toFebruary1996.HestartedasanAuditAssistantinKPMGandleftasanAuditSupervisor.Subsequently,hejoinedAICasGroupAccountant inFebruary1996andwas

appointedtotheboardofAICon1August2007asanExecutiveDirector/ChiefFinancialOfficer.HewasanIndependentNon-ExecutiveDirectorofJotechfrom

3January2007to2July2007.HewasappointedtotheBoardofAutoVon26May2008asaNon-IndependentNon-ExecutiveDirector.HeisamemberoftheMalaysian

Institute of Accountants, Malaysian Institute of Certified Public Accountants and CertifiedPublicAccountants,Australia.

Ash’aribinAyub isourSenior IndependentNon-ExecutiveDirectorandhewasappointedtoourBoardon28March2012.HeisalsotheChairmanoftheAuditCommittee,RemunerationCommitteeandNominatingCommittee.

HepassedtheprofessionalexaminationofthethenMalaysianAssociationof Certified PublicAccountants on 24 June 1967. He is amember of theMalaysianInstituteofCertifiedPublicAccountantsandtheMalaysianInstituteofAccountants.HestartedhiscareerwithCoopersBrothers&Coasanarticledclerkin1961andwaslaterpromotedtoaqualifiedauditassistant.Heserved

inCoopersBrothers&Countil1970.Thereafter,hejoinedvariousorganisationsin the government and private sector. He was a senior partner in Coopers &

Lybrandforabout20yearsfrom1974untilhisretirementin1994.Currently,heisanIndependentNon-ExecutiveDirectorofMetrodHoldingsBerhadandBCBBerhad.

HehasbeenanIndependentNon-ExecutiveDirectorofAutoVsince20February2001.HewasalsotheChairmanoftheAuditCommitteeandRemunerationCommitteeofAutoVandwasamemberof theNominatingCommitteeofAutoV.Subsequent to theMerger,hehas resignedfromAutoVon30June2012.

11

Annual Report 2016

directors’ profile (cont’d)

meJ Jen dato’ moKhtar Bin perman (rtd)Non-Independent Non-Executive Director, Malaysian Male, aged 63

Wong Zee shinIndependent Non-Executive Director, Malaysian Male, aged 41

Mej Jen Dato’ Mokhtar Bin Perman (Rtd) is our Non-Independent Non-ExecutiveDirectorandhewasappointedtoourBoardon10June2013.HejoinedtheMalaysianArmyinJuly1970.AftercompletinghismilitarytrainingattheRoyalMilitaryCollege,hewascommissionedintotheRoyalMalaysianArtilleryRegiment.DuringhisserviceintheArmy,hewassenttoattendthevariousacademicandprofessionalcourseslocallyaswellasoverseas. Inhisnearly40yearsofserviceintheArmy,MejJenDatoMokhtar(Rtd)hasservedinbothcommandandstaffappointmentsatthevariousunits,formationsandtheMinistryofDefence.HehasalsorepresentedtheMalaysianArmyatthevariousinternationalconferences,seminarsandworkshopslocallyandoverseas.HislastappointmentintheMalaysianArmywasastheGeneralOfficer-In-CommandoftheTrainingCommand,responsiblefortheindividualtrainingofallMalaysianArmyofficersandsoldiers.HeretiredfromtheMalaysianArmyinDecember2010.

Wong Zee Shin is our Independent non-Executive Director and he was appointed to ourBoard on 28March 2012.He is amember of theAuditCommittee,NominatingCommitteeandRemunerationCommitteesince28March2012.

He graduated with a Bachelor Degree in Finance and Accounting from the UniversityTechnologyofSydney,AustraliainJuly1999.HeisamemberoftheMalaysianInstituteofAccountantsandCertifiedPublicAccountants,Australia.HestartedhiscareerinErnst&Young,aninternationalpublicaccountingfirminSandakan,SabahfromDecember1999to2004.InAugust2004,hejoinedCepatwawasan Group Berhad as an Accountant and later joined Sogomax Sdn BhdasanAccountantinJune2006.SubsequentlyinDecember2009topresent,hejoinedMalbumiEstateSdnBhdastheirGroupAccountant.

HewasappointedtotheBoardofJotechon2July2007.HewasanIndependentNon-ExecutiveDirectorofJotechandwasalsotheChairmanoftheAuditandNominatingCommitteesandwasamemberoftheRemunerationCommittee.SubsequenttotheMerger,hehasresignedfromJotechon18June2012.

12

Annual Report 2016

directors’ profile (cont’d)

additional information

Conflictofinterest/familyrelationshipswithanyDirectorand/ormajorShareholdernone

Convictions for offences (within the past 5 years, other than traffic offences) andparticularsofanypublicsanctionorpenaltyimposedbytherelevantregulatorybodiesduringthefinancialyearnone

ParticularsofmaterialcontractsoftheGroup,involvingdirectorsandmajorshareholders’interestnone

Yong nam YUnCEO of AutoV Group/Alternate Director to Kong Kok Keong, Malaysian

Male, aged 50

YongNamYunwasappointedasanalternatedirectortoKongKokKeongon6January2014andheistheCEOofAutoVGroup.

HeobtainedhisLCCIDiplomafromtheJasaCollege,Malaysiain1987.Hehas been involved in his family businesses since 1987, startingwithKumLoongEnterpriseSdnBhdasFinanceDirectorfrom1987to1998andlaterastheChiefOperatingOfficerinKumLoongPlasticIndustriesSdnBhdfrom1998to2009.InFebruary2009,heformedKLPIResourcesSdnBhdandbecamethe

ChiefExecutiveOfficer.YongNamYunthenco-foundedProreka(M)SdnBhdinApril2000andheldthepositionofChiefExecutiveOfficer.Hewasappointedasan

ExecutiveDirectorofAutoVon28December2011.YongNamYunisalsoadirectorandshareholderinKLPIResourcesSdnBhd,whichprovidescubicprintingandpainting

services.

13

Annual Report 2016

profiles of oUr KeY senior management

Kee Yong WahDeputy Executive Chairman of Energy Segment, Malaysian Male, aged 57

Woon Wai thongChief Financial Officer, Malaysian Male, aged 41

KeeYongWahwasappointedadirectorofNuEnergyGasLimited(“NGY”),asubsidiaryoftheGroupintheEnergySegment,on21August2014.Hewas later re-designatedasExecutiveDirectoron1January2015andasDeputy Executive Chairman of NGY on 7April 2016. Mr Kee hasmorethan30yearsofexperienceintheoilandgasexploration,productionandservicing industry. In 1984, he joined Halliburton, a global conventionalandunconventionaloilandgasservicingcompanywhereheheldvariousmanagerial,businessdevelopment,operationalandmanufacturingpositionsinAsiaandtheUSA.HislastappointmentinHalliburtonwasGeneralManagerofBusinessDevelopmentwhere hewas responsible for leading a groupofBusinessDevelopmentandAccountManagersinundertakingstrategicplanningand business development projects including mergers and acquisitions for allbusinessunitsinHaliburtonandformulatingdistributorshipandagencyagreementswithcustomers.Having leftHalliburton,MrKee joinedSmith International, Inc,aNewYorkStockExchangelistedcompanyprincipallyinvolvedinthesupplyofproductsandservicestotheoilandgasexplorationandproductionindustry,petrochemicalindustryandotherindustrialmarketsastheGeneralManagerofitsChinaoperations.Subsequently,MrKeeservedastheVicePresidentofSPTEnergyGroupInc,acompanylistedontheHongKongStockExchangethatisprincipallyinvolvedintheprovisionofoilfieldservicespriortojoiningNGY.MrKeeisthefounderofNewCenturyEnergyResourcesLimited,asubsidiaryoftheGroupandasubstantialshareholder of nGY.

Woon was appointed as Chief Financial Officer of the Company on 1 November 2013. Woon has over 15 years’ experience in operationalandfinancialmanagement.He isaCharteredAccountant,memberof theMalaysian Institute of Accountants. In 1998, he started his career withDeloitteKassimChanasanAuditAssistantandleftasanAuditSeniorI in2002. Subsequently, he joinedAIC Corporation Berhad, a company thenlistedontheMainMarketofBursaMalaysia,nowpartofGlobaltec.

additional information

Conflictofinterest/familyrelationshipswithanyDirectorand/ormajorShareholdernone

Convictions for offences (within the past 5 years, other than traffic offences) andparticularsofanypublicsanctionorpenaltyimposedbytherelevantregulatorybodiesduringthefinancialyearnone

14

Annual Report 2016

eXecUtive chairman’s statement

On behalf of theBoard of Directors,I would like to present to youthe 2016 annual reportof your Company.

15

Annual Report 2016

eXecUtive chairman’s statement (cont’d)

datuk seri panglima (dr.) goh tian chuan, JpGroup Executive Chairman

16

Annual Report 2016

eXecUtive chairman’s statement (cont’d)

overvieW

In 2015, global growthmoderated amid heightened international financialmarket volatility. Throughout 2015, theglobaleconomicandfinancialenvironmentwasshapedbycertainmajordevelopments.First,globalcommoditypricesfellsharply topost-crisis lows,withsignificant repercussions forglobalgrowthand inflation.Second, internationalfinancialmarketsexperiencedintensifiedvolatilityamongstpolicyshiftsinthemajoreconomiesandconcernsovertheslowingmomentumofglobalgrowth,sovereigndebt in theEuroarea,andthefall incommodityprices. In thesecondquarterof2016, theglobaleconomyexpandedatamoremoderatepace,withunevengrowthmomentumacross economies.While the initial impact from the result of the United Kingdom’s European Union referendumcreateduncertaintyandamplifiedriskaversion,financialmarketvolatilityhassincesubsided.

TheMalaysianeconomygrewby5.0% in2015 (2014:6.0%)and4.0% in thesecondquarterof 2016 (1Q2016:4.2%).Malaysia’sgrossdomesticproductgrowthhasbeenslowingfor4consecutivequarters.Despitethestrongerexpansionindomesticdemand,growthwasweigheddownbythecontinueddeclineinnetexportsandasignificantdrawdowninstocks.Onthesupplyside,growthcontinuedtobedrivenbythemajoreconomicsectors.Onaquarter-on-quarterseasonally-adjustedbasis,theeconomyrecordedagrowthof0.7%(1Q2016:1.0%).Malaysia’seconomicgrowthoverthecourseof2016remainschallengingbecauseofweakdomesticconsumptionandexternalheadwinds,includingaslowdowninChina’seconomyandlowercrudeoilprices.

Theelectronicsindustry,beingoneoftheindustriestheGroupisexposedto,isunderconstantchangeandimmensecompetitionand facesdownwardpressureonmargins incessantly.Aside from this, theMalaysianautomotivecarindustryalsofaredworsethanlastyearwiththeTotalIndustryVolume(“TIV”)fortheyearto-dateJune2016down16.5%fromthesamecorrespondingperiodlastyear.Frost&Sullivanisalsopredictingvehiclesalestodeclineby1.44%year-on-yeartoreach648,000unitsin2016.TheGroup’smajorcustomerhassincelostmarketshareamidstintense competition.

FlaggingeconomicgrowthinChina,wheresmartphonesalesinthepastexceeded400millionunitsayear,representsoneofthereasonstheglobalsemiconductorindustryisfacingaslowdown.Worldwidesemiconductor

revenuetotaledUSD334.8billionin2015,a2.3%declinefrom2014.GlobalsemiconductorsalesinJune2016reachedUSD26.4billion,anuptickof1.1%overMay2016total

ofUSD26.1billion,butdown5.8%fromtheJune2015totalofUSD28.0billion.Cumulatively, year-to-date global sales during the first half of 2016 were

5.8% lower than they were at the same point in 2015. In fact, growthin global semiconductor sales has been decelerating over the yearsandisexpectedtodeclinefurtherinthecomingyearsduelargelytoglobaleconomicuncertaintyandsluggishdemand.

17

Annual Report 2016

eXecUtive chairman’s statement (cont’d)

Inthepreviousfinancialyear,theGroupventuredintotheoilandgasexplorationandproduction(“E&P”)andservicesbusinesswithprimaryfocusintheunconventionaloilandgas,andthisbusinesswasreferredastheEnergySegment.Duringthefinancialyear,theGroupfurtherincreaseditsexposureinthisindustrywiththeacquisitionofDartEnergy(Indonesia)HoldingsPteLtd(“DEIH”).TheEnergySegmentnonethelessisstillinitsexplorationstageandhasyettocommencecommercialproduction.TheEnergySegmenthassecuredstrategicallylocatedcoalbedmethane(“CBM”)inareaswhere there isa significantlyundersuppliedgasandpowermarketandwhere there isabundantenergyinfrastructure to takegasand/orpower to themarket.TheEnergySegmenthasa total of 6operatedproductionsharing contracts (“PSC”) in Indonesia.TheEnergySegment during the financial year, focused its operations onthe drilling campaign in the tanjung Enim PSC in South Sumatra with the aim of upgrading resources and proving reserves.TheEnergySegmentcompleteddrilling8wellsintheTanjungEnimPSC.Resultsfromloggingrevealedcoalseamswithtotalthicknessofupto49meterswithover13metersfromasingleseam,whichshowsgeologicalparameterssimilarwithotherprovensuccessfulCBMbasinsaroundtheworld.Uponthecompletionofdrilling,thecampaign moved to the next phase of dewatering and production testing. the initial production performances were encouragingandtheEnergySegmentwillcontinuetomonitortheproductionperformanceinpreparationtoupgradetheassetthroughreservesbooking.

AspartoftheGroup’sefforttoshedoffsomeofitsnon-coreandnon-profitablebusinesses,theGrouphadduringthe year further reduced its exposure to the lowmarginmetal stampingbusinessbyentering intoequity transferagreementsforthedivestmentofGuangDongJotechKongYuePrecisionIndustriesLtd(“JKY”),whichwascompletedshortlyafter thefinancialyearend. Inaddition, theGrouphadsubsequent to thefinancialyearend,alsoenteredintoatermsheetfortheintendeddisposalof its interest inalossmakingsubsidiary,AICSemiconductorSdnBhd(“AICS”),whichisinvolvedinassemblyandtestofintegratedcircuitchips.AfterthecompletionoftheduediligenceandsubjecttothePurchaser’ssatisfactiontotheduediligenceresults,thepartiesshallenterintoaformalagreementuponsuchtermsandconditionstobemutuallyagreedtodisposeofAICS.Thesedivestmentshaveandareintendedto strengthen our liquidity positionwhich in turn enables theGroup to solidify its core businesses.The intendeddisposalofAICSsignifiestheGroup’sexitfromthesemiconductorindustry.

TheGroupfacedachallengingbusinessenvironmentduringthefinancialyear.Nevertheless,thelargestsegment,theIntegratedManufacturingServices(“IMS”)Segmentreturnedtotheblackthisfinancialyear.DespitetheGroup’simprovedperformance,yourBoardwillnotrest on its laurels and will continue its efforts in turning around the Group. Your Board believes the Group’s financialreservesandexpertiseinthediversebusinessesaswellasthebusinessnetworkswillbeakeystrengththatcanhelp propel the Group towards achieving its vision.

18

Annual Report 2016

financial and operations revieW

TheGroup’srevenuefromcontinuingoperationsforthecurrentyeardecreasedfromRM299.4millionintheprioryeartoRM255.6million.ThiswasduemainlytoadecreaseintheIMSSegment’srevenueofRM44.3millionasaresultof a decline in the revenue of the Semiconductor and Automotive divisions. the decline in revenue was due to overall weakdemand.RevenuefromtheResourcesSegmentdeclinedmarginallyduetoadropinoilpalmfreshfruitbunch(“FFB”)production.

TheGroup’srevenueandnetresultsbysegment/divisionforthefinancialyeararesummarisedasfollows:

Forfinancialyearended30June Revenue Netprofit/(loss) 2016 2015 2016 2015 amount amount amount amountSegment/Division RM’000 % RM’000 % RM’000 RM’000

PMST 97,484 39 91,793 28 9,017 9,448Semiconductor 31,387 12 37,842 11 (2,203) (3,615)Automotive 119,430 46 162,935 49 1,312 (9,057)

IMS 248,301 97 292,570 88 8,126 (3,224)

resources 6,301 2 6,568 2 (191) (326)

energy 1,018 * 12 * (3,489) (1,923)

Investmentholding 8 * 218 * (18,998) (37,528)

continuing operations 255,628 99 299,368 90 (14,552) (43,001)discontinued operations 2,358 1 33,562 10 (1,291) 1,704Consolidationadjustments - (213) - -

Total 257,986 100 332,717 100 (15,843) (41,297)

Note: * Negligible

TheGroup’snetlossfromcontinuingoperationsforthecurrentyearofRM14.6millionfellbymorethanhalfascomparedtoRM43.0millionintheprioryear.ThiswasachievedwiththeIMSSegmentregisteringapositiveturnaroundofalmost400%fromanetlossofRM3.2milliontoanetprofitofRM8.1million.Inaddition,theGroupforthecurrentfinancialyearrecordedlowerimpairmentlossesongoodwill,property,plantandequipmentandcustomerrelationshipsbutwasoffsetpartiallybyalowergainonbargainpurchaseandanimpairmentlossonanassociate.AlltheIMSdivisions(despitetheSemiconductorandAutomotivedivisionscontributinglowerrevenues)recordedimprovedresultsduemainlytobettercostmodelsbeing implemented.TheEnergySegmentwhichhasnotcommencedcommercialproduction registeredhigherlossesinthecurrentyearastheEnergySegmentwasonlysetuptowardstheendofthesecondquarteroftheprioryear.TheResourcesSegment’snetlossofRM0.2millionforthecurrentyearwasslightlylowerthanintheprioryear.

IncludedinthenetprofitfromthediscontinuedoperationsfortheprioryearwasanetgainondisposalofsubsidiariesamountingtoRM8.3million.Excludingthisnetgain,thediscontinuedoperationscontinuedtoincurlossesalbeitatalowerlossthanintheprioryearasithasceasedoperationsatthebeginningofthecurrentfinancialyear.

NetcashinflowfromoperatingactivitiescontinuedtogrowfromRM18.6milliontoRM27.8millionyearonyear.However,cash and bank balances of theGroup decreasedmarginally fromRM59.2million to RM53.1million duemainly toincreaseinunconventionalgasexplorationactivity,decreaseinproceedsfromdisposalofsubsidiariesbutwasoffsetpartiallybynetinflowfromarightsissueconductedbyNuEnergyGasLimited(“NGY”),apubliclylistedsubsidiary.TheGroup’sbankborrowingswhichisonadecliningtrend,decreasedfromRM47.4milliontoRM37.4millionresultinginthegearingratiodecliningto0.13timesfrom0.15timesintheprioryear.Furthermore,currentratiooftheGroupimprovedto2.3timesfrom2.0timesintheprioryear.

eXecUtive chairman’s statement (cont’d)

19

Annual Report 2016

eXecUtive chairman’s statement (cont’d)

financial and operations revieW (cont’d)

IMS SegMeNt

pmst division

ThePMSTDivisionisinvolvedinprecisionmachining&automation(“PMA”)andprecisionmetalstamping&tooling(“PST”).

Duringthefinancialyear,thePMSTDivisionreportedimprovementinrevenuefromRM91.8millionintheprioryeartoRM97.5millionforthecurrentfinancialyearduetoimprovementindemandandadditionsincustomers.However,netprofitwasrelativelyunchangedduemainlytoanincreaseinoperatingcostbyPMA.

PMA’srevenueincrease5%ascomparedtotheprecedingyear’srevenueofRM45.4million.TheincreaseinrevenuewasdrivenbygrowthofnewcustomerinhighprecisiontoolingandmouldsbusinessandincreasedsalesintheLifeSciences,DiagnosticsandAppliedMarketsbusiness.PMAalsobenefitedfromfavourableforeigncurrencyexchangerate intheexportmarketandwillcontinuetomaintain itscompetitiveedgewithhigh-qualityproducts,expertise inengineeringprocessandproduction.PMAwillstrivetoimprovetheefficiencyandutilisationofitsinstalledcapacitybyutilisingcustomisedrobotichandlingsystemsinitslineinordertoreducedependancyonforeignlabour.

RevenuefromPSTinchedup7%ascomparedtoprecedingyear’srevenueofRM46.4million.Netprofitwasrelativelyunchanged.

aUtomotive division

TheMalaysianautomotivesector’sTIVforthefirsthalfof2016wasreportedat275,459units,whichtranslatestoonly41%oftheTIVfortheyear2015of666,674units.Itisalso16.5%lowercomparedtotheTIVforthecorresponding6monthsin2015.TheMalaysianAutomotiveAssociationexpectssalestoimproveinthesecondhalfof2016duetonewmodellaunchesscheduledforthatperiod.Protonwhichcontributed55%ofourAutomotiveDivision’srevenueforthefinancialyearendedJune2016,sawitsmarketshareinMalaysiashrunkto10.2%inJuly2016comparedto18.5%ayearbefore.

Inlinewiththeabove,revenuefromourAutomotiveDivisionforthecurrentyearreducedtoRM119.4million,27%lower than theRM162.9million recorded in financial year 2015.However, the results of ourAutomotiveDivisionimprovedfromanetlossofRM9.1millioninthepreviousyeartoanetprofitofRM1.3millioninthecurrentfinancialyear,duemainlytonon-recurringincomeforprojectdevelopmentandtoolingcoststotallingRM8.5millionduringthefinancialyear.

Movingforward,theAutomotiveDivisionhashasteneditsstepstointroducenewproductlinesandsecurenewcustomers.At thesametime, theAutomotiveDivisionhas takennecessarystepsto reduce overheads and manage operating expenses to help improve its performance for the ensuing years.Thesemeasures included the cessation of the lossmaking fibreglassreinforced plastic and vacuum forming operations as well as a rightsizing exerciseundertakenduringthecurrentfinancialyear.

20

Annual Report 2016

financial and operations revieW (cont’d)

IMS SegMeNt (cont’d)

semicondUctor division

Thesemiconductorbusinesspersists tobechallengingascanbeseenby theSemiconductorDivision registeringayearonyeardecline in itsrevenuefromRM37.8millionforfinancialyear2015toRM31.4millionforthecurrentfinancialyearduetoadeclineindemandandloading.Nevertheless,theSemiconductorDivision’snetlossdeclinedfromRM3.6milliontoRM2.2millionunderpinnedmainlybyadecreaseintheimpairmentlossonplantandmachineryamounting to RM0.9 million and also partly due to the strengthening of the USD against Ringgit Malaysia. TheconsecutivelossesandweakcashflowoftheSemiconductorDivisionfurthersupportstheGroup’sintendeddisposalofAICSandtoexitfromthesemiconductorindustry.

ReSouRceS SegMeNt

The Resources Segment registered a revenue of RM6.3million for this financial year which is RM0.3million or4% lower than theRM6.6million recorded in thepreviousfinancialyearasa resultof lowerFFBproduction.TheResourcesSegment incurredanet lossofRM0.2millionascompared toanet lossofRM0.3million for theprioryear.Duringtheyear,theResourcesSegmenthashadplantednewtreesatanareaofapproximately24hectares,increasingthetotalplantedareato806hectaresfrom782hectaresinthepreviousfinancialyear.

eNeRgy SegMeNt

BrentcrudeoilpricesdeclinedsharplytoanaverageofUSD54perbarrelin2015(2014:USD99perbarrel).Higherproductionbymajoroil-producingeconomiesandshaleoilproducersintheUnitedStatesofAmerica(“USA”),amongstmoderating global demand, contributed to persistent oversupply concerns in the globalmarkets.These concernsintensifiedfurtherinthesecondhalfoftheyearfollowingthesuccessfulconclusionoftheIraniannucleardeal,thecommitmentoftheOrganisationofthePetroleumExportingCountriestonotcuttheexistingproductionlevels,andtheworseningsentimentsoverglobalgrowthprospectsofseverallargeemergingeconomies.Consequently,crudeoilpricesfelltoatwelve-yearlowofUSD36perbarreltowardstheendof2015.

Theglobaloildemandremainedsupportedbyoilconsumptionintheemergingeconomies,particularlyinChinaandIndia.TowardstheendofQ22016,however,pricemovementswerehighlyvolatile,reflectingmainlyshiftsindemandintheoilfuturesmarket.AweakerUSDinearly-JuneinitiallyliftedBrentcrudeoilpricetoitshighestlevelsincemid-October2015,atUSD52perbarrelon8June.Subsequently,uncertaintiessurroundingUnitedKingdom’sEuropeanUnion referendumand its unexpected result led to a decline inBrent crudeoil price.Nonetheless, as immediateconcernsoverthepotentialimpactoftheresultwaned,oilpriceincreased,endingQ22016atUSD50perbarrel.

The Energy Segment, which has yet to commence commercial production, incurred a net loss of RM3.5million,constitutedmainlyofadministrativeandpersonnelexpenditure.Asatendofthefinancialyear,thecarryingvalueoftheexplorationandevaluationexpenditureamountedtoRM128.2millionupfromthepreviousyearofRM86.2million.On 20 November 2015, the Energy Segment completed the acquisition of DEIH. DEIH group of companies hasparticipatinginterestinthefollowingPSCscovering1,559squarekilometres:

a) 45%participatinginterestinTanjungEnimPSC,SouthSumatra;b) 50%participatinginterestinMuralimPSC,SouthSumatra;andc) 100%participatinginterestinBontangBengalonPSC,EastKalimantan.

eXecUtive chairman’s statement (cont’d)

21

Annual Report 2016

financial and operations revieW (cont’d)

eNeRgy SegMeNt (cont’d)

TheEnergySegmentnowhas6PSCsfromthecompletionofthesaidacquisition.Withthelargeresourcesizeoftheportfolioandthelocationoftheassetswithinthesamebasin,theEnergySegmentwillfocusonintegratingtheSouthSumatraPSCs(consistingoftheMuaraEnimPSC,MuaraEnimIIPSC,TanjungEnimPSCandMuralimPSC)toprovidethepotentialscaleofoperationsandsynergiesforalargescaleCBMsupply.

Map of the energy Segment PScs in South Sumatraand gas Pipeline Infrastructure

eXecUtive chairman’s statement (cont’d)

Basin field coal thickness gas content (metres) (scf/t)

NGY–SouthSumatraBasin(Indonesia) TanjungEnim 40-49 80-110PowderRiverBasin(USA) RecluseRawhideButte 12-27 30-70WesternCanadianSedimentary(Alberta) HorseshoeCanyon 10-33 55-110

Source: Society of Petroleum Engineers (SPE 103514)

InNovember2015,theEnergySegmentcompletedtheworkoveroperationson2wells(TE-01andTE-2)thatweredrilledprior to theacquisitionofDEIHandcommencedon thedewateringoperationsandproduction testing.ThefirstCBMproductioncommenced72hoursafterthecommencementofthedewateringoperationsandtheearlygasproductionandflaringresultsignificantlyexceededexpectations.

During the financial year, theEnergySegmentoperationsweremainly focuson theCBMexplorationactivities inTanjungEnimPSC,SouthSumatraandRengatPSC,CentralSumatra.

– tanJUng enim psc With the strategic acquisition ofDEIH, theEnergySegment shift its focus to theTanjungEnimPSCas this PSCisattheadvancedstageoftheexplorationactivitiesthatwillprovideanopportunitytofast-trackthefield programsandbookearlygasreserves.TheEnergySegmentdrilled3corewellsinJuly2015todeliverthePSC firmcommitmentsandextendtheexplorationperiodforanadditionalperiodof4yearsto3August2019.The3 corewellsweresuccessfullydrilledtothetargeteddepthof300metres.Resultsrevealedfromthe3corewells withlogsofcoalseamswithtotalthicknessbetween40metersto49meterswithover13metersfromasingle seam.GassaturationanalysisascertifiedbytheofficialIndonesiacertifier,revealedgascontentrangingbetween 80 and 110 scf/ton from all the coal seams. The results were highly encouraging and show geological parametersimilaritieswithotherprovensuccessfulcommercialisedCBMbasinsoftheworld.

22

Annual Report 2016

financial and operations revieW (cont’d)

eNeRgy SegMeNt (cont’d)

eXecUtive chairman’s statement (cont’d)

TheexplorationresultscontinuedtohighlightthedeepgaspotentialoftheassetandreinforcestheEnergySegment’sfocustowardstheearlyappraisalforresourcecertification.

In December 2015, the Energy Segment through NGY, raised funds amounting to A$10.0 million before costs,through a rights issue primarily to fund theTanjung EnimPSC exploration activities for resourcesmigration andreservescertification.Thereafter,theEnergySegmentstartedonthepreparationforthedrillingcampaignonthepilotproductionprogram.5pilotwellsweredrilled in the lastquarterof thefinancialyear.Thewellsweresuccessfullydrilledtothetargeteddepthrangingfrom384metersto460meters.Resultscontinuedtohighlighttheconsistencyof the geological parameter from the previous wells drilled. Results from logging revealed coal seams with total thicknessofupto47meterswithover13metersfromasingleseam.

Dewatering operations and production testing commenced after the completion of drilling. the initial production performanceswere encouraging and theEnergySegmentwill continue tomonitor the production performance inpreparationtoupgradetheassetthroughreservescertificationbytheendof2016.

– rengat psc In December 2015, 3 exploratorywells were drilled. Bothmud logging andwireline logging have confirmed prognosis of identifiable coal seams to their depth although the targeted seams revealed low economic significance. Further geological and geophysical studieswill be conducted to complement existing data and toidentifyandmapcoalcontinuityacrossthebasinandtounderstandthereservoircharacteristicsforfurther development.Duringthefinancialyear,theIndonesianregulatoryauthority,SKKMigashasgrantedtheextension oftheRengatPSCexplorationperiodtoamaximumperiodof4yearsto29November2019.

23

Annual Report 2016

eXecUtive chairman’s statement (cont’d)

prospects

Theinternationaleconomicandfinanciallandscapeislikelytoremainchallenginguntilendof2016andwillbeakeyfactorthatwill influencetheprospectsoftheMalaysianeconomy.Dependingontheirnature,globaldevelopmentscanposebothupsideanddownsideriskstotheMalaysianeconomicgrowth.TheMalaysianeconomyisexpectedtogrowby4.0%-4.5%in2016.Headlineinflationisprojectedtobehigherat2.5%-3.5%in2016(2015:2.1%),duemainlytoincreasesinthepricesofseveralprice-administereditemsandtheweakringgitexchangerate.However,theimpactofthesecostfactorsoninflationwillbemitigatedbythelowglobalenergyandcommodityprices,generallysubduedglobalinflationandmoremoderatedomesticdemand.Thetrajectoryofinflationduringtheyear,however,couldbemorevolatilegiventheuncertaintiesrelatingtoglobaloilandcommoditypricesaswellasthepaceofglobalgrowth.

Enteringfinancialyear2017,theGroupremainscautiouslyoptimisticaboutitsoutlook,despitecontinuingdepressedconditions in the national and global economy. Short-term global economic uncertainties have not significantlychangedthemediumtolong-termoutlookforthemarketstheGroupserves.Oil,naturalgasandcoalwillcontinuetomeetabout80%ofglobalenergydemandwiththebiggestexpectedgrowthindemandwillbeinnaturalgas,whichprovidesapracticalenergysolutionformanyapplicationswhilealsoprovidingasignificantcostadvantageversusotheroptionstohelpreduceclimatechangerisks.ThisbodeswellfortheGroup’sEnergySegment.

The uncertainty of the global economy growth and lackluster local business environment continues to pose achallengingoutlookfor theGroup’sbusinesses intheIMSSegment. Inadditiontotherelativelysmallcontributionfrom theResourcesSegment, the volatility of crude palmoil pricesmakes theResourcesSegment an unsteadysource of income.

Nonetheless,theGroup’sprospectsarebrighterwiththeEnergySegmentmovinganotherstepclosertoupgradingits exploration assets (which are located in Indonesia) through reserves booking. Moreover, the Indonesian gasand power markets have robust, increasing demand, that is yet to be fully met whilst gas and power prices inIndonesiaare someof thehighest in theworldand insulated fromvolatileoil prices. Inaddition,demandgrowthandthe internationalpushforreducedcarbonemissionsfavoursgrowinguseofgas in thebuddingpowersector.Furthermore,theGroupcanexpectimprovedresultsinthefollowingyears,withthedisposalorintendeddisposaloflossmakingsubsidiariessuchasJKYandAICS.

forWard plans and strategies

Your Board shares your concerns and urgency to return the Group to profit in theensuingyears.Onthisnote,effortsarecurrentlybeingundertakentoexpeditetheoil andgasE&Pbusiness.TheEnergySegmenthas just recentlyundertakenapilotdrillingprogramme inoneof itsprospectiveblock, theTanjungEnimPSCandisexpectedtodeliverthefirstmajormilestonebytheendoftheyearfortheEnergySegmentbyupgradingthereservesthroughcertification.ThereservesupgradingandcertificationisanimportantmilestonefortheEnergySegmentto work towards getting the Plan of Development. Your Board is confidentthat the Energy Segment will contribute positively to theGroup’s long termperformanceandenhance theGroup’s long termgrowthpotential.However,toachievethis,theEnergySegmentwillcontinuetorequirefundinginordertoadvance its exploration stage towards commercialisation.

24

Annual Report 2016

forWard plans and strategies (cont’d)

TheGroupwill also continue to strive to further reduce its cost of operations by increasing efficiency, securingmaterialsandlabouratlowerpriceswhilstmaintaininghighqualityofitsproductsandservices.Moreover,thereareongoing plans to further integrate theGroup’smanufacturing business primarily in theAutomotiveDivision.Also,efforts are underway for theAutomotive Division to expand regionally, particularly to Indonesia, and diversify itscustomerportfolio.Inthisaspect,theAutomotiveDivisionhasinitiatedmanydiscussionswithlargemultinationalcarmanufacturersaswellas initiatedcollaborationswith thesuppliers to these largemultinationalcarmanufacturers.RidingonthegrowthoftheautomotiveindustryinIndonesia,thePMSTDivisionwillfocusontappingintohighervalueaddedmetalstampedautomotiveproducts/accessoriesbyleveragingontheexpertiseandnetworkoftheAutomotiveDivisionandwidenitsproductrangeaswellascustomerbasetoensurethesustainablegrowthofitsrevenueandprofitcontributiontotheGroup.

corporate governance and investor relations

OurGroupdeemsitourtoppriorityinrole-modellingourselvesinmaintaininghighstandardsincorporategovernancepracticesinmanagingourbusinessesandaffairswithintheGroup.Toachievetheseobjectives,yourBoardandkeymanagementstaffhavebeenproactivelyeducatingourselvesinorderfortheGrouptocomplyfullywiththeprinciplesand best practices set out in theMalaysianCode onCorporateGovernance and developments of internationallyrecognisedbestgovernancepractices.TheGroupremainscommittedtoespouseandmaintain itsgoodcorporategovernancetrackrecordthroughtimelyandobjectivereportingandconstantcommunicationwithallitsstakeholders.

corporate social responsiBilities (“csr”)

YourBoardbelievesintheimportanceofCSRinthattheimprovementintheconditionssurroundingourstakeholders,employees,societyandtheenvironment,whichistheembodimentofCSR,isvitaltothegrowthoftheGroup.YourBoardrecognisesthatactinginaresponsibleandsustainablemannercreatesnewopportunities,enhancesinvestorvalue,andimprovessocialandenvironmentalreturns.

appreciation

IwishtoexpressmysincerethankstoallourcherishedshareholdersforyourcontinuedsupportandwishtoreiteratethatyourBoardiscommittedtoimprovetheGroup’sperformanceandenhanceshareholders’values.

Iwouldliketoexpressoursinceregratitudetoourvaluedcustomers,businesspartners,bankersandtherelevantgovernmentauthoritiesfortheirinvaluablesupport.

IalsowishtoexpressmygratitudetomyfellowBoardmembers,themanagementandstafffortheirprofessionalismandundyingcommitmenttosteertheGrouptowardsexcellence.

datuk seri panglima (dr.) goh tian chuan, JpGroup Executive Chairman17October2016

eXecUtive chairman’s statement (cont’d)