Eng - IOI Group

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notestothefinancialstatements cont’d33 DEFERRED TAXATION cont’dThe movements of deferred tax liabilities and assets during the financial year prior to offsetting are as follows:Deferred tax liabilitiesIn RM’000GroupCompany2003 2002 2003 2002At beginning of financial yearAs reported 115,253 44,901 6,220 5,827Prior year adjustments 96,978 95,502 - -As restated 212,231 140,403 6,220 5,827Recognised in the income statements (Note 9)Temporary differences arising fromaccelerated capital allowances 17,889 2,706 (500) 393Temporary differences on prepaid lease rental 4,603 - - -Temporary differences on recognitionof project profit 539 (6,025) - -Temporary differences on recognitionof project expenses 2,601 98 - -Other temporary differences (2,002) (1,598) - -23,630 (4,819) (500) 393Charged to equity 9,132 - - -Addition through subsidiary acquired 46,661 46,349 - -Reduction through subsidiary disposed - (1,559) - -Arising from fair value adjustmentson acquisitions 45,994 31,857 - -337,648 212,231 5,720 6,220IOI Corporation BerhadAnnual Report 2003184
33 DEFERRED TAXATION cont’dDeferred tax assetsIn RM’000Group2003 2002At beginning of financial yearAs reported - -Prior year adjustments 29,311 31,103As restated 29,311 31,103Recognised in the income statements (Note 9)Arising from unabsorbed tax losses 16,557 -Arising from unutilised capital allowances 5,885 -Utilisation of unabsorbed tax losses (24,193) (2,095)Utilisation of unutilised capital allowances (10) 303Other deductible temporary differences 1,713 -(48) (1,792)Charged to equity 1,723 -Addition through subsidiaries acquired 11,999 -42,985 29,311The components of deferred tax liabilities and assets at the end of the financial year comprise tax effects of:Deferred tax liabilitiesIn RM’000GroupCompany2003 2002 2003 2002Fair value adjustments on acquisitions 115,401 109,027 - -Temporary differences arising fromaccelerated capital allowances 177,742 83,222 5,720 6,220Temporary differences on prepaid lease rental 11,112 6,509 - -Temporary differences on recognitionof project profit 2,075 1,533 - -Temporary differences on recognitionof project expenses 6,131 3,745 - -Other taxable temporary differences 6,814 165 - -Revaluation of investment properties 10,606 8,030 - -329,881 212,231 5,720 6,220185IOI 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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directors’report cont’dDIRECTOR
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directors’report cont’dSTATUTOR
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directors’report cont’dSIGNIFIC
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incomestatements for the financial
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statementsofchangesinequity for the
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statementsofchangesinequity for the
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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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