Eng - IOI Group

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notestothefinancialstatements cont’d26 TRADE AND OTHER PAYABLES cont’d26.1 Trade payablesIn RM’000GroupCompany2003 2002 2003 2002Trade payables 216,983 105,877 1,258 1,334Included in trade payables of the Group are retention monies of RM34,600,000 (2002 - RM33,333,000).26.2 Other payables and accrualsIn RM’000GroupCompany2003 2002 2003 2002Land premium payable 33,449 33,449 - -Advances from minority shareholdersof subsidiaries to the subsidiaries 17,820 20,475 - -Other payables 156,335 120,473 5,056 8,877Customer and other deposits 19,689 24,876 325 411Accruals 86,689 76,251 5,044 9,048313,982 275,524 10,425 18,33626.3 Amount due to customers on contractsIn RM’000Group2003 2002Aggregate cost incurred to date - 5,723Recognised profit - 610- 6,333Progress billings - (6,527)Amount due to customers on contracts - (194)IOI Corporation BerhadAnnual Report 2003172
27 BANK OVERDRAFTSIn RM’000GroupCompany2003 2002 2003 2002Secured 5,919 22,067 - 2,007Unsecured 6,229 5,533 875 9,15512,148 27,600 875 11,162The secured bank overdrafts are secured by way of fixed charges over certain freehold and leasehold landedproperties of the Group and of the Company. Additionally, certain bank overdrafts of the subsidiaries are securedby fixed and floating charges over their other assets. The bank overdrafts bear interest at rates ranging from3.75% to 8.15% (2002 - 4.00% to 8.15%) per annum.28 SHORT TERM BORROWINGSIn RM’000GroupCompany2003 2002 2003 2002SecuredTerm loans - portion due within 12 months(Note 31) 62,700 79,889 17,500 67,330Revolving credits 19,468 37,443 - -Trade financing - 19,084 - -82,168 136,416 17,500 67,330UnsecuredTerm loans - portion due within 12 months(Note 31) 73,000 10,000 73,000 10,000Short term loans 140,000 534,000 140,000 534,000Revolving credits 30,000 - 30,000 -Trade financing 1,886 - - -244,886 544,000 243,000 544,000327,054 680,416 260,500 611,330173IOI 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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socialcontributions• In conjuncti
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• IOI contributed RM100,000 for t
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directors’reportThe Directors of
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directors’report cont’dWARRANTS
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directors’report cont’dEXECUTIV
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directors’report cont’dRESERVES
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notestothefinancialstatements cont
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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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