Annual Report 2020 - listed company

1 Registration No. 199101013622 (223934-T) Annual Report 2020 CONTENTS010 corporate Diary017 corporate Information018 Profile of Board of Directors024 Profile of Key Senior Management026 corporate Structure028 Group Financial Highlights030 Board Report & Management Discussion and Analysis040 Sustainability Statement090 Directors Report095 Statement by Directors095 Statutory Declaration096 Independent Auditors Report to the Members of Bonia Corporation Berhad101 Statements of Financial Position102 Statements of Profit or Loss and Other Comprehensive Income104 Consolidated Statement of Changes in Equity105 Statement of Changes in Equity106 Statements of Cash Flows109 Notes to the Financial Statements055 corporate governance Overview Statement067 Report of the Audit & Risk Management Committee 072 Statement on Risk Management & Internal Control076 Directors Responsibility Statement077 List of Properties081 Analysis of

2 Shareholdings084 Notice of 29th Annual General Meeting086 Statement Accompanying Notice of 29th Annual General Meeting087 Proxy Form010089055077 corporate overviewFinanCial StatementSCorporate GovernanCeother inFormationS010 Bonia Corporation BerhaD | Annual Report 2020 corporate DiaryJACLYN#iChooSeBonia CampaignDuring this period, we worked with Key Opinion Leaders ( KOLs ) to increase our products visibility in the social sphere. During the ISOLE event that was held at the end of 2019, we managed to bring together these KOLs to drive organic social media reach under the hashtag # FONGJESTINNAPUTERI AISHAHEIKASEAN LEESTEPHYMAY HOAISHARN ovember 2019 - April 2020 Artist / TV Host / Songwriter | 146K | Total Engagement Influencer | 337K | Total Engagement & Beauty Influencer | 55K | Total Engagement Influencer | 474K | Total Engagement %Pharmacist / Fashion Influencer | 247K | Total Engagement Influencer | 390K | Total Engagement Lifestyle Influencer | 297K | Total Engagement 14%Fashion Influencer | 375K | Total Engagement Host / Lifestyle Influencer | 759K | Total Engagement 3%Fashion Influencer | | Total Engagement | 942K | Total Engagement Influencer | 231K | Total Engagement 1% corporate OverviewCorporate GovernanceOther InformationsFinancial Statements011 Bonia awarded for the most outstanding malaysian Brands award at 3 DamansaraDatuk Albert Chiang was present with other management and staff to receive the Most Outstanding malaysian

3 Brands Award under the Lifestyle segment from Branding Association of Malaysia. mrCa presents Bonia with the international exponential Growth award at imperial Ballroom, one world hotelFollowing the success of BONIA being in the retail industry for 45 years, we were graced with more good news when we received recognition from the Malaysia Retail Chain Association ( MRCA ) for our outstanding achievement in the industry. Datuk Albert Chiang received the award on behalf of 12, 2020 February 13, 2020 corporate Diary012 Bonia Corporation BerhaD | Annual Report 2020 BONIA launched our Spring/Summer 2020 collection with a fashion event. Among the guests were editors from major media titles (print and digital), celebrities, socialites, social media influencers and friends of the brand. We transported every guest to an island themed fantasy by transforming the venue into what we called the BONIA ISOLE 3, 2019 Bonia Celebrates 45 years together with the launch of iSole Spring/Summer Collectionat Fukuya authentic Japanese restaurantChairman, Chiangvenice minCai pei XuanDebbie GohDatin Sri linda ChenDato Sri Daniel Chiangnana lawDaphne Charicewei wei limJunees teohJuwei teohBrian SeeCorporate DiaryCorporate OverviewCorporate GovernanceOther InformationsFinancial Statements013 KUANTANSHAH ALAMB onia relaunch at east Coast mall, Kuantan On 14 December 2019, BONIA renovated and reopened its boutique in East Coast Mall.

4 The new look included fresh and vibrant displays of products with a more modern and elegant 14, 2019We relaunched our new concept boutique in the heart of Selangor s Golden Triangle, Central I-City Mall. October 26, 2019relaunching of Bonia Boutique at Central i-City, Shah alamCorporate Diary014 Bonia Corporation BerhaD | Annual Report 2020 Designed by Creative Director, Fabio Panzeri, setting the tone for a whole new Braun Buffel brand retail experience - one that invites customers to feel welcome and relaxed. The architectural philosophy of the new design concept radiates contemporary luxury where a fusion of heritage, modernity and industrial intersects - keeping up with the modern eclecticism that characterises the House s new collections. The new contemporary vision for the brand is to create a new Braun Buffel brand experience across multiple physical and digital touch-points. The launch of the new store design concept is the first step of the House s new business strategy.

5 Braun Buffel Opens 6 New Store Design Concept Boutiques Across Asia-Pacific RegionBraun Buffel presents & launches a Capsule Collection - Jumper Special edition at Culture Cartel, 2019 Culture Cartel is Asia s first and only all-emcompassing street culture convention, bringing together various subcultures and communities under one roof. A limited edition version of the bestseller shapes from the Jumper Collection were reimagined with metallic and neon accents. Exclusive bag customisations were done on-site by Visual Artist and Graffiti Writer, DiaryCorporate OverviewCorporate GovernanceOther InformationsFinancial Statements015 Braun Buffel presents at the Sime Darby motors Dreamride exhibit, alongside Bmw, mini, Jaguar, land rover & volvoBraun Buffel Commemorates remy martin s legacy by presenting a masterclass Artisans from Braun Buffel demonstrated the intricate art of leathercrafting at the first ever edition of La Maison R my Martin in Southeast Asia. Guests took home personalised artisanal leather goods by Braun Buffel.

6 corporate DiaryThe first ever automobile exhibit by Sime Darby Motors featuring multiple luxury brands and incorporating lifestyle elements tocreate a unique shopping experience. Guests took home a mystery gift from Braun Buffel and a complimentary : Inspired by space travel- Classic form contrasted with futuristic ideals, a highlight of our Neu Romantic collection for OverviewCorporate GovernanceOther InformationsFinancial Statements017 corporate inFormationAS AT 30 SEPTEMBER 2020 company SECRETARIESC hong Chin lookMembership No. MIA 8043 SSM Practising Certificate No. 202008001280 Chok Kwee wahMembership No. MACS 00550 SSM Practising Certificate No. 202008002837tan Kean waiMembership No. MAICSA 7056310 SSM Practising Certificate No. 202008000801 AUDITORSBDo plt (LLP0018825-LCA & AF 0206)Chartered AccountantsHEAD OFFICEL evel 6 Ikon Connaught Lot 160 Jalan Cerdas Taman Connaught Cheras 56000 Kuala Lumpur Wilayah Persekutuan MalaysiaTel : +603-9108 9000 Fax : +603-9108 9098 REGISTERED Jalan Radin Bagus 9 Bandar Baru Sri Petaling57000 Kuala LumpurWilayah Persekutuan MalaysiaTel : +603-9054 1498 Fax.

7 +603-9054 # oF DireCtorSChiang Sang Sem Founder and Group Executive ChairmanDato Sri Chiang Fong tatGroup Executive DirectorDato Sri Chiang Fong Seng Group Executive DirectorChong Chin look Group Finance DirectorDatuk Chiang heng Kieng Non-Independent Non-Executive DirectorDato Sri Chiang Fong yee Non-Independent Non-Executive DirectoraUDit & riSK manaGement CommitteeChairman Datuk ng peng hong @ ng peng hayMembers Chong Sai Sinazian Binti mohd yusof Datuk ng peng hong @ ng peng hay Senior Independent Non-Executive DirectorChong Sai Sin Independent Non-Executive Directorazian Binti mohd yusof Independent Non-Executive DirectorChiang may ling Alternate Director to Chiang Sang SemChiang Fong Chyen Alternate Director to Datuk Chiang Heng Kiengnomination & remUneration CommitteeChairman Datuk ng peng hong @ ng peng hayMembersChong Sai Sinazian Binti mohd yusofSHARE REGISTRARBina management (m) Sdn. 10 The Highway CentreJalan 51/205 46050 Petaling JayaSelangor Darul Ehsan MalaysiaTel : +603-7784 3922 Fax : +603-7784 1988 STOCK EXCHANGE LISTINGMain Market of Bursa Malaysia Securities BerhadStock Name: BoniaStock Code: 9288018 Bonia Corporation BerhaD | Annual Report 2020proFile oF BoarD oF DireCtorSChianG SanG Sem Founder and Group Executive ChairmanDato Sri ChianG FonG tat SSAPG roup Executive DirectorChiang Sang Sem is the founder of BONIA.

8 He was appointed to the Board on 16 June 1994 as the Executive Chairman of the company . On 01 September 2018, he relinquished from his position as the Group Executive Chairman cum Chief Executive Officer and was re-designated as the Founder cum Executive Director of the company . On 02 October 2018, he assumed the role of Group CEO and was re-designated as the Founder, Group CEO and Group Executive Director of Bonia Corporation Berhad. Thereafter, Chiang Sang Sem relinquished from his position as Group CEO and was re-designated as the Founder and Group Executive Chairman of the company effective from 01 January involvement in the leather industry spans a period of over 45 years. He possesses in-depth knowledge, skills and expertise in all aspects of the leatherwear trade. He is responsible for the overall business development and formulating the Group s strategic plans and policies. He travels regularly around Europe and Asia to get the latest updates on fashion trends and technological changes in leatherwear and fashion accessories currently holds directorships in several subsidiaries of the company and does not have any other directorships of public brother, Datuk Chiang Heng Kieng, his sons, Dato Sri Chiang Fong Yee, Dato Sri Chiang Fong Tat and Dato Sri Chiang Fong Seng, his daughter, Chiang May Ling and his nephew, Chiang Fong Chyen are also members of the Sri Chiang Fong tat graduated with a Bachelor (Hons) Degree in Marketing and Management from Middlesex University in the United Kingdom and joined Bonia Group in 2000.

9 He was appointed to the Board on 30 August 2004 as a Group Executive Director of the company . He is responsible for the Group s expansion and growth, market entry, product research and development as well as business holds directorships in several subsidiaries of the company and does not have any other directorships of public father, Chiang Sang Sem, his uncle, Datuk Chiang Heng Kieng, his brothers, Dato Sri Chiang Fong Yee and Dato Sri Chiang Fong Seng, his sister, Chiang May Ling, and his cousin, Chiang Fong Chyen are also members of the 67 | malaysian | MaleAged 42 | malaysian | MaleCorporate OverviewCorporate GovernanceOther InformationsFinancial Statements019 Profile of Board of DirectorsDato Sri ChianG FonG SenG SSAP Group Executive DirectorChonG Chin looK Group Finance DirectorDato Sri Chiang Fong Seng was appointed to the Board on 10 January 2014 and holds the position as Group Executive Director. He graduated in year 2007 with a Bachelor of Commerce from The University of Melbourne, Australia.

10 He joined Bonia Group in year 2008 initially as Personal Assistant to the Founder and Group Executive Chairman and was eventually promoted as Associate Director. His responsibilities were expanded across the company over the years with his involvement in the Group s business development, strategic planning, products research and was conferred Darjah Kebesaran Sultan Ahmad Shah Pahang Yang Amat DiMulia - Peringkat Pertama Sri Sultan Ahmad Shah Pahang (SSAP) which carries the title Dato Sri in year was appointed as Vice President of malaysian Dato Entrepreneurs Association (MDEA) for 2 consecutive terms 2015-2017 and was appointed as a Committee Member of Federation of malaysian Fashion Textile and Apparels (FMFTA) since its launch in October currently holds directorships in several subsidiaries of the company and does not have any other directorships of public father, Chiang Sang Sem, his uncle, Datuk Chiang Heng Kieng, his brothers, Dato Sri Chiang Fong Yee and Dato Sri Chiang Fong Tat, his sister, Chiang May Ling, and his cousin, Chiang Fong Chyen are also members of the Chin look was appointed to the Board on 20 June 1994.