Eng - IOI Group

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notestothefinancialstatements cont’d44 LIST OF SUBSIDIARIES AND ASSOCIATES cont’dEffective GroupInterestName of Company 2003 2002 Principal ActivityIndirect Subsidiaries cont’dResource-based ManufacturingSubsidiaries of IOI Edible Oils Sdn BhdIOI Bio-Energy Sdn Bhd * 100% 100% Produce and supply palm-based renewableenergy generation using biomassIOI Jeti Sdn Bhd * 100% 100% Operation of jettyIOI Speciality Fats Sdn Bhd * 100% 100% Palm oil trading and refinerySubsidiaries of Palmco Holdings BerhadAcidchem International Sdn Bhd * 51% 59% Manufacturing of fatty acids and glycerineDerichem (M) Sdn Bhd * 51% 59% Manufacturing of soap noodlesEsterchem (M) Sdn Bhd * 51% 59% Trading in estersStabichem (M) Sdn Bhd * 51% 59% Manufacturing of metallic stearatesPalmco Oil Mill Sendirian Berhad * 51% 59% Production of palm kernel oil and palmkernel cakes and trading in commoditiesSubsidiaries of Loders Croklaan Group B. V.Loders Croklaan B. V. * 100% - Manufacturing of specialty oils and fats(Incorporated in the Netherlands)Loders Croklaan IOI Canada Inc. * 100% - Manufacturing of specialty oils and fats(Incorporated in Canada)Loders Croklaan USA B. V. * 100% - Investment holding(Incorporated in the Netherlands)Loders Croklaan For Oils S.A.E. Egypt * 100% - Production of emulsified raw materials(Incorporated in Egypt)and semi finished goods on oils and fatsLoders Croklaan Malaysia Sdn Bhd 100% - Inactive(Formerly known as Sim Intelliport Sdn Bhd)Subsidiary of Loders Croklaan USA B. V.Loders Croklaan USA LLC * 100% - Manufacturing of specialty oils and fats(Incorporated in United States of America)IOI Corporation BerhadAnnual Report 2003222Subsidiary of Loders Croklaan For OilsS. A. E. EgyptLoders Croklaan Trading & Distribution LLC Egypt * 100% - Trading and marketing of food-based(Incorporated in Egypt)products
44 LIST OF SUBSIDIARIES AND ASSOCIATES cont’dEffective GroupInterestName of Company 2003 2002 Principal ActivityIndirect Subsidiaries cont’dNon-SegmentSubsidiaries of Palmco Holdings BerhadPalmco Jaya Sendirian Berhad * 51% 59% Bulk cargo warehousingPalmco Hotels Sdn Bhd * 51% 59% Hotel and related activitiesPalmco Management Services Sdn Bhd * 51% 59% Management services and rental of storagetanksCare Security Services Sdn Bhd * 51% 59% Management of collection of service chargesPerformance Chemicals (M) Sdn Bhd * 51% 59% DormantPalmina Sendirian Berhad * 51% 59% DormantPalmco Plantations Sendirian Berhad * 51% 59% DormantPalmco Cocoa Sendirian Berhad * 51% 59% DormantDirect Consolidated Sdn Bhd * 51% 59% DormantQuantum Green Sdn Bhd * 51% 59% DormantAcidchem (Sabah) Sdn Bhd * 51% 59% DormantSubsidiary of Acidchem International Sdn BhdAcidchem (USA) Inc * 51% 59% Trading in fatty acids and glycerine(Incorporated in United States of America)Subsidiary of Palmex Industries Sdn BerhadPalmco International (HK) Limited * 51% 59% Investment holding(Incorporated in Hong Kong)Subsidiaries of Palmco International(HK) LimitedPalmco Engineering Limited * 51% 59% Investment holding(Incorporated in Hong Kong)Acidchem (Singapore) Pte Ltd * 51% 59% Dormant(Incorporated in Singapore)Subsidiary of Palmco Engineering LimitedTianjin Palmco Oil & Fats Co Ltd * 51% 59% Dormant(Incorporated in People’s Republic of China)223IOI 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
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