Eng - IOI Group

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notestothefinancialstatements cont’d44 LIST OF SUBSIDIARIES AND ASSOCIATES cont’dEffective GroupInterestName of Company 2003 2002 Principal ActivityDirect Subsidiaries cont’dProperty Development and InvestmentBukit Kelang Development Sdn Bhd 100% 100% Property developmentNice Skyline Sdn Bhd 60% 60% Property development and investment holdingRapat Jaya Sendirian Berhad 100% 100% Property developmentEng Hup Industries Sdn Berhad 100% 100% Property development and managementIOI Properties Berhad 65% 65% Property development, property investmentand investment holdingAmoda Sdn Bhd 60% 60% Property investment and investment holdingKean Ko Sdn Berhad 100% 100% Investment holdingResource-based ManufacturingIOI Edible Oils Sdn Bhd * 100% 100% Palm oil refinery/kernel crushing plantLoders Croklaan Group B. V. * 100% - Investment holding(Incorporated in the Netherlands)Palmco Holdings Berhad * 51% 59% Investment holdingIOI Corporation BerhadAnnual Report 2003218Non-SegmentIOI Construction Sdn Bhd 70% 70% Building, engineering and constructionservicesIOI Landscape Services Sdn Bhd 100% 100% Landscape services, sale of ornamental plantsand turfing grassIOI Palm Products Sdn Bhd 100% 100% Manufacturing and trading of oil palmrelated by-productsResort Villa Development Sdn Bhd 100% 100% Hotel and resort developmentResort Villa Golf Course Berhad 100% 100% Golf and recreational club servicesResort Villa Golf Course Development Sdn Bhd 100% 100% Hotel and hospitality servicesIOI Corporation N. V. * 100% - Investment holding(Incorporated in the Netherlands, Antilles)Swee Lam Estates (Malaya) Sdn Berhad 100% 100% Investment holdingJasasinar Multimedia Sdn Bhd 94% 94% Inactive(formerly known as IOI-Multimedia Sdn Bhd)Affinity Communications Sdn Bhd 100% 100% Pre-operatingFocus Media Sdn Bhd 100% 100% Pre-operatingIOI Management Sdn Bhd 100% 100% Pre-operatingKayangan Heights Sdn Bhd 60% 60% Pre-operatingPerfect Format Sdn Bhd 100% 100% Pre-operatingTampoi Development Sdn Bhd 100% 100% Pre-operating
44 LIST OF SUBSIDIARIES AND ASSOCIATES cont’dEffective GroupInterestName of Company 2003 2002 Principal ActivityIndirect SubsidiariesPlantationSubsidiaries of Morisem Palm Oil Mill Sdn BhdMeriteam Sdn Bhd * 100% 100% Cultivation of oil palmPR Enterprise Sdn Bhd * 100% 100% Cultivation of oil palmPriceland Sdn Bhd * 100% 100% Cultivation of oil palmSubsidiary of Future Growth Sdn BhdPermodalan Plantations Sdn Bhd 70% 70% Cultivation of oil palmSubsidiaries of Ladang Sabah Holdings Sdn BhdLadang Sabah Sdn Bhd 100% 100% Cultivation of oil palm and processing ofpalm oilTerusan Baru Sdn Bhd 100% 100% Cultivation of oil palmSubsidiary of Morisem Consolidated Sdn BhdMorisem Plantations Sdn Bhd * 100% 100% Cultivation of oil palmSubsidiary of Morisem Sdn BhdMorisem (Sabah) Sdn Bhd * 100% 100% Cultivation of oil palmSubsidiaries of Syarimo Sdn BhdAgroplex (Sabah) Sdn Bhd 100% 100% Cultivation of oil palmBilprice Development Sdn Bhd 100% 100% Cultivation of oil palmErat Manis Sdn Bhd 100% 100% Cultivation of oil palmFastscope Development Sdn Bhd 100% 100% Cultivation of soft wood timberHidayat Rakyat Sdn Bhd 100% 100% Cultivation of oil palmHidayat Ria Sdn Bhd 100% 100% Cultivation of oil palmKunimas Sdn Bhd 100% - Cultivation of oil palmLokoh Sdn Bhd 100% 100% Cultivation of oil palmMaxgrand Sdn Bhd 100% 100% Cultivation of oil palmMewahandal Sdn Bhd 100% 100% Cultivation of oil palmMuara Julang Sdn Bhd 100% 100% Cultivation of oil palmPricescore Enterprise Sdn Bhd 100% 100% Cultivation of oil palmPujian Harum Sdn Bhd 100% 100% Cultivation of oil palmSyarikat Best Cocoa Sdn Bhd 100% 100% Cultivation of oil palmUnikhas Corporation Sdn Bhd 100% 100% Cultivation of oil palmVery Good Estate Sdn Bhd 100% 100% Cultivation of oil palm219IOI 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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cashflowstatements for the financia
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cashflowstatements for the financia
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notestothefinancialstatements cont
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Page 230 and 231: eportoftheauditors to the members o
Page 232 and 233: groupproperties cont’dAPLANTATION
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Page 238 and 239: groupproperties cont’dEOTHER PROP
Page 240 and 241: LIST OF TOP 30 SHAREHOLDERS cont’
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Eng - IOI Group

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