Eng - IOI Group

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notestothefinancialstatements cont’d12 PROPERTY, PLANT AND EQUIPMENT cont’dCompany2002In RM’000AtBeginningAt Endof Financial Write- Reclassi- of FinancialAt Cost Year Additions Disposals offs fication YearFreehold plantations 291,467 3,608 (16) - - 295,059Long term leaseholdplantations 53,740 2 - - - 53,742Freehold land 2,115 - - - - 2,115Buildings andimprovements 20,828 3,616 - (61) 253 24,636Plant and machinery 28,452 842 (263) (83) - 28,948Motor vehicles 4,834 1,345 (1,170) - - 5,009Furniture, fittings andequipment 8,641 901 (31) (72) - 9,439Construction inprogress 438 1,150 - - (253) 1,335410,515 11,464 (1,480) (216) - 420,283In RM’000At CurrentBeginning Year At EndAccumulated of Financial Depreciation of FinancialDepreciation Year Charge Disposals Write-offs YearIOI Corporation BerhadAnnual Report 2003160Long term leaseholdplantations 1,034 105 - - 1,139Buildings andimprovements 5,714 1,007 - (19) 6,702Plant and machinery 15,131 2,381 (151) (82) 17,279Motor vehicles 4,152 394 (911) - 3,635Furniture, fittings andequipment 4,760 860 (19) (65) 5,53630,791 4,747 (1,081) (166) 34,291
12 PROPERTY, PLANT AND EQUIPMENT cont’dIn RM’000GroupCompanyNet Book Value 2003 2002 2003 2002Freehold plantations 411,132 402,057 296,968 295,059Long term leasehold plantations 1,559,794 1,148,052 52,498 52,603Freehold land 227,599 46,133 2,115 2,115Long term leasehold land 6,845 7,853 - -Short term leasehold land 23,688 23,436 - -Golf course 43,886 43,894 - -Buildings and improvements 622,138 298,772 17,671 17,934Plant and machinery 699,254 414,274 10,450 11,669Motor vehicles 16,911 11,584 1,290 1,374Furniture, fittings and equipment 49,464 35,365 3,612 3,903Construction in progress 157,265 233,990 935 1,3353,817,976 2,665,410 385,539 385,992Included in long term leasehold plantations and construction in progress is an amount of interest expensecapitalised during the financial year amounted to RM2,240,000 (2002 - RM7,900,000) for the Group.Freehold and leasehold landed properties of the Group and of the Company at net book value of RM86,531,000(2002 - RM579,947,000) and RM64,591,000 (2002 - RM196,447,000) respectively have been charged to banks forcredit facilities granted to the Group and the Company.13 SUBSIDIARIESIn RM’000Company2003 2002At costShares quoted in Malaysia 936,038 1,005,941Unquoted shares in Malaysia 846,570 846,570Unquoted shares outside Malaysia 279,553 -2,062,161 1,852,511Less: impairment losses (5,724) (5,724)2,056,437 1,846,787At market valueShares quoted in Malaysia 1,898,171 1,834,768Details of the subsidiaries are set out in Note 44.161IOI Corporation BerhadAnnual Report 2003
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www.ioigroup.comIOI Corporation Ber
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OPERATING BACKGROUNDThe Malaysian e
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FINANCIAL OVERVIEW cont’dGroup’
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REVIEW OF RESULTS cont’dEBIT cont
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OTHER CORPORATE DEVELOPMENT AND GRO
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SOCIAL CONTRIBUTIONSAs a responsibl
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ACKNOWLEDGEMENTOn behalf of the Boa
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noticeofannualgeneralmeetingNOTICE
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noticeofannualgeneralmeeting cont
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noticeofannualgeneralmeeting cont
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oostingjobfulfilment“When it come
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oardofdirectorsTan Sri Dato’ Lee
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Dato’ Lee Yeow ChorExecutive Dire
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Datuk Khalid b Hj HusinIndependent
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groupfinancialoverviewBalance Sheet
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groupperformancehighlightsIOI Corpo
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five-yearfinancialhighlightsIn RM
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oostingsocialcommitment“As a cari
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HIGHLIGHTS cont’d• Net operatin
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ECONOMIC PROFIT AND RETURNS cont’
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RISK MANAGEMENTThe Group has in pla
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Financial Risk Management cont’d
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management’sdiscussionandanalysis
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Area Statement (In Hectares)Year en
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OPERATIONS cont’dAlthough oil yie
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OUTLOOK AND PROSPECTSPrices of edib
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OPERATIONS cont’dIn line with the
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RESULTS cont’dThe Group’s overa
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ValKepongKLCCKualaLumpurKL SentralP
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OPERATIONSThe Group’s palm oil re
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PROSPECTSThe oleochemical sub-segme
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4 Duties and ResponsibilitiesIn ful
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ACTIVITIES cont’dviiReview of the
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Roles and Principal Duties cont’d
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Board Composition and Balance cont
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Re-electionIn accordance with the C
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Directors’ Remuneration cont’d1
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Financial Reporting cont’dIn addi
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NATURE OF OUR INTERNAL CONTROLS CON
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otherinformationCOMPOSITION OF SHAR
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Type of Recurrent Interested Direct
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Type of Recurrent Interested Direct
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27 Tan Sri Dato’ Lee Shin Cheng i
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groupbusinessstructurePlantationPla
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EuropeNetherlands : Wormerveer and
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■ Plantation1 Bukit Dinding Estat
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• The exercise price of Warrants
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MARCH 2003• IOI achieved a 5th pl
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Page 116 and 117: directors’reportThe Directors of
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Page 128 and 129: directors’report cont’dSIGNIFIC
Page 130 and 131: incomestatements for the financial
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eportoftheauditors to the members o
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groupproperties cont’dAPLANTATION
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groupproperties cont’dBDEVELOPMEN
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groupproperties cont’dDINDUSTRIAL
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groupproperties cont’dEOTHER PROP
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LIST OF TOP 30 SHAREHOLDERS cont’
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fold hereIOI Corporation BerhadNo.
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Eng - IOI Group

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