Eng - IOI Group

eportoftheauditors to the members of IOI Corporation BerhadWe have audited the financial statements set out on pages 128 to 226. These financial statements are the responsibilityof the Company’s Directors. Our responsibility is to express an opinion on the financial statements based on our audit.We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require that weplan and perform the audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in thefinancial statements. An audit also includes assessing the accounting principles used and significant estimates made bythe Directors, as well as evaluating the overall financial statements presentation. We believe that our audit provides areasonable basis for our opinion.In our opinion:athe financial statements have been properly drawn up in accordance with applicable approved accountingstandards in Malaysia and the provisions of the Companies Act, 1965 so as to give a true and fair view of:iiithe matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statementsof the Group and of the Company; andthe state of affairs of the Group and of the Company as at 30 June 2003 and of their results and cash flowsfor the financial year then ended; andbthe accounting and other records and the registers required by the Act to be kept by the Company and by thesubsidiary companies of which we have acted as auditors have been properly kept in accordance with theprovisions of the said Act.We have considered the financial statements and the auditors’ reports of the subsidiary companies of which we have notacted as auditors, as indicated in Note 44 to the financial statements, being financial statements that are included inthe consolidated financial statements.We are satisfied that the financial statements of the subsidiary companies that are consolidated with the Company’sfinancial statements are in form and content appropriate and proper for the purposes of the preparation of theconsolidated financial statements and we have received satisfactory information and explanations required by us forthose purposes.The auditors’ reports on the financial statements of the subsidiary companies were not subject to any qualification anddid not include any comment made under Section 174(3) of the Act.BDO BinderAF : 0206Chartered AccountantsIOI Corporation BerhadAnnual Report 2003228Tan Kim Leong, JP125/06/05 (J/PH)PartnerKuala Lumpur2 September 2003