Eng - IOI Group

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chairman’sstatement cont’dFINANCIAL OVERVIEWThe Group registered another set of outstanding performance for the financial year under review. Group’s revenue for FY2003 increased by 62% over the preceding year to RM3.91 billion on the back of 36% higher palm oil prices andadditional revenue contribution from the two new acquisitions, namely Loders Croklaan and Pamol estates.Group’s earnings before interest and taxation (“EBIT") increased by 43%, from RM605.7 million achieved in FY 2002 toRM867.8 million for FY 2003. Likewise, the Group’s pre-tax and net profit attributable to shareholders, continued theirgrowth trend to a new high of RM812.6 million and RM502.1 million respectively.Consequently, the fully diluted EPS reflected a 32% growth to 50.49 sen as compared to 38.14 sen previously.During the financial year, 177,928,072 and 6,897,000 new shares were issued pursuant to the exercise of rights underthe Company’s 1995/2003 Warrants (which expired on 30 April 2003) and Executive Share Option Scheme (“ESOS”)respectively. Proceeds from the allotment of these new shares, together with net earnings for the year, exceeded theRM114.4 million cash outlay on buying back an additional 22,863,000 treasury shares and dividend pay-out and capitaldistribution totalling RM328.1 million during the year, thus resulting in a 22% increase in shareholders’ fund to RM3.53billion as at 30 June 2003.IOI Corporation BerhadAnnual Report 20034
FINANCIAL OVERVIEW cont’dGroup’s net gearing ratio however increased from 22.1% as at 30 June 2002 to 39.5% as at 30 June 2003 as the Grouptook on borrowings to finance its acquisitions of Loders Croklaan and the Pamol Group estates from Unilever.Nevertheless, the Group’s net gearing ratio is at a conservative level, especially when measured against strong cashflows being generated from operations and the prevailing low interest rate environment.Segmental Contribution to Operating Profit20032002Plantation 60%Property 29%Resource-based Manufacturing 11%Others 0%Plantation 40%Property 46%Resource-based Manufacturing 10%Others 4%5IOI Corporation BerhadAnnual Report 2003
Page 1: www.ioigroup.comIOI Corporation Ber
Page 5: OPERATING BACKGROUNDThe Malaysian e
Page 9 and 10: REVIEW OF RESULTS cont’dEBIT cont
Page 11 and 12: OTHER CORPORATE DEVELOPMENT AND GRO
Page 13 and 14: SOCIAL CONTRIBUTIONSAs a responsibl
Page 15: ACKNOWLEDGEMENTOn behalf of the Boa
Page 18 and 19: noticeofannualgeneralmeetingNOTICE
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Page 25 and 26: oostingjobfulfilment“When it come
Page 27 and 28: oardofdirectorsTan Sri Dato’ Lee
Page 29 and 30: Dato’ Lee Yeow ChorExecutive Dire
Page 31 and 32: Datuk Khalid b Hj HusinIndependent
Page 34 and 35: groupfinancialoverviewBalance Sheet
Page 36 and 37: groupperformancehighlightsIOI Corpo
Page 38 and 39: five-yearfinancialhighlightsIn RM
Page 40: oostingsocialcommitment“As a cari
Page 43 and 44: HIGHLIGHTS cont’d• Net operatin
Page 45 and 46: ECONOMIC PROFIT AND RETURNS cont’
Page 47 and 48: RISK MANAGEMENTThe Group has in pla
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Page 51 and 52: management’sdiscussionandanalysis
Page 53 and 54: Area Statement (In Hectares)Year en
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OUTLOOK AND PROSPECTSPrices of edib
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management’sdiscussionandanalysis
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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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eportoftheauditors to the members o
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groupproperties cont’dAPLANTATION
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groupproperties cont’dBDEVELOPMEN
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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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