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notestothefinancialstatements cont’d45 CHANGES IN ACCOUNTING POLICES AND PRIOR YEAR ADJUSTMENTS cont’d45.2 Recognition of gains or losses arising from deemed disposals cont’dThe effects of the change in the above accounting polices on the comparative figures are as follows:GROUPIn RM’000Effect ofAs Previously Change inReported Policy As RestatedIncome StatementOperating profit 556,486 (1,191) 555,295Earnings per share (sen)Basic 41.21 (0.52) 40.69Diluted 38.63 (0.49) 38.14Statement of Changes in EquityAt 30.06.2001Retained profits 1,704,171 485 1,704,656Reserve on consolidation 17,855 (9,628) 8,227Capital reserve 45,190 (34,003) 11,187At 30.06.2002Retained profits 1,973,138 (3,974) 1,969,164Reserve on consolidation 16,529 (8,379) 8,150Capital reserve 43,432 (34,003) 9,429Balance SheetProperty, plant & equipment 2,671,783 (6,373) 2,665,410Deferred tax assets - 29,311 29,311Goodwill on consolidation 163,629 15,999 179,628Retained profits 1,973,138 (3,974) 1,969,164Reserve on consolidation 16,529 (8,379) 8,150Capital reserve 43,432 (34,003) 9,429Minority interests 940,021 (11,685) 928,336Deferred tax liabilities 115,253 96,978 212,231IOI Corporation BerhadAnnual Report 200322646 COMPARATIVE FIGURESThe changes in comparative figures as a result of changes in accounting policies are stated in Note 45. In additionthe comparative segmental information have been re-presented to conform with the requirements of MASB 22,Segment Reporting (Note 42).47 AUTHORISATION FOR ISSUEThe financial statements of the Group and of the Company for the financial year ended 30 June 2003 wereauthorised for issue by the Board of Directors on 2 September 2003.
statementbydirectorsIn the opinion of the Directors, the financial statements set out in pages 128 to 226 are drawn up in accordance withapplicable approved accounting standards in Malaysia and the provisions of the Companies Act, 1965 so as to give a trueand fair view of:ithe state of affairs of the Group and of the Company as at 30 June 2003 and of their results for the financial yearended on that date; andii the cash flows of the Group and of the Company for the financial year ended 30 June 2003.On behalf of the Board,Tan Sri Dato’ Lee Shin ChengExecutive ChairmanDato’ Yeo HowExecutive DirectorPuchong, Selangor Darul Ehsan2 September 2003statutorydeclarationI, Dato’ Yeo How, being the Director primarily responsible for the financial management of IOI Corporation Berhad, dosolemnly and sincerely declare that the financial statements set out in pages 128 to 226 are, to the best of myknowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true and byvirtue of the Statutory Declaration Act, 1960.Subscribed and solemnly declared )by the abovenamed )at Puchong, Selangor Darul Ehsan )this 2 September 2003 )Dato’ Yeo HowBefore meS. Nirmala DeviCommissioner for OathsNo. B076227IOI 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 238 and 239: groupproperties cont’dEOTHER PROP
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Eng - IOI Group

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