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INDEPENDENT AUDITORS’ REPORT

TO THE MEMBERS OF BIMB HOLDINGS BERHAD

(INcORPORATED IN MALAySIA)
(cOMPANy NO. REGISTRATION NO: 199701008362 (423858-X))

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
Our opinion
In our opinion, the financial statements of BIMB Holdings Berhad (“the company”) and its subsidiaries (“the Group”) give a true and
fair view of the financial position of the Group and of the company as at 31 December 2020, and of their financial performance and
their cash flows for the financial year then ended in accordance with Malaysian Financial Reporting Standards, International Financial
Reporting Standards and the requirements of the companies Act 2016 in Malaysia.
INTEGRATED ANNUAL REPORT 2020 We have audited the financial statements of the Group and of the company, which comprise the statements of financial position as
What we have audited

at 31 December 2020 of the Group and of the company, and the statements of profit or loss, statements of comprehensive income,
statements of changes in equity and statements of cash flows of the Group and of the company for the financial year then ended, and
notes to the financial statements, including a summary of significant accounting policies, as set out on pages 168 to 337.
Basis for opinion
We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing.
Our responsibilities under those standards are further described in the “Auditors’ responsibilities for the audit of the financial
338 statements” section of our report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence and other ethical responsibilities
BIMB HOLDINGS BERHAD 199701008362 (423858-X) code of Ethics for Professional Accountants (including International Independence Standards) (“IESBA code”), and we have fulfilled
We are independent of the Group and of the company in accordance with the By-Laws (on Professional Ethics, conduct and Practice)
of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ International

our other ethical responsibilities in accordance with the By-Laws and the IESBA code.
Our audit approach
As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements of
the Group and of the company. In particular, we considered where the Directors made subjective judgements; for example, in respect
of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. As in
all of our audits, we also addressed the risk of management override of internal controls, including among other matters, consideration
of whether there was evidence of bias that represented a risk of material misstatement due to fraud.

We tailored the scope of our audit in order to perform sufficient work to enable us to provide an opinion on the financial statements as
a whole, taking into account the structure of the Group and of the company, the accounting processes and controls, and the industry
in which the Group and the company operate.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the Group and of the company for the current financial year. These matters were addressed in the context of our audit
of the financial statements of the Group and of the company as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.