Eng - IOI Group

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Notes To The Financial Statements cont’d8. OPERATING PROFIT cont’dGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000(restated)(restated)and crediting:Allowance for doubtful debts written back 318 332 - -Amortisation of negative goodwill of subsidiaries - 751 - -Amortisation of negative goodwill of associates - 2,208 - -Gain on disposal of investment properties - 58 - -Gain on disposal of land held for property development 168 - - -Gross dividend received from- short term funds quoted in Malaysia 10,484 5,833 10,484 5,833- other quoted investments in Malaysia 875 303 142 113- other unquoted investments in Malaysia 37 37 - -- subsidiary quoted in Malaysia - - 148,345 136,455- unquoted subsidiaries - - 367,600 444,049- unquoted associates - - 5,040 6,696Impairment loss on other long term investments written back - 285 - -Negative goodwill recognised arising from additionalinterest acquired in a subsidiary 263 - - -Rental income from plant and machinery 6,107 6,135 - -Rental income 69,766 63,603 - -Contract cost of the Group recognised as an expense during the financial year amounted to RM324,000 (2006 - RM21,000). Costof inventories of the Group and of the Company recognised as an expense during the financial year amounted to RM5,330,268,000(2006 - RM3,436,241,000) and RM27,001,000 (2006 - RM29,390,000) respectively.b) Employee informationThe employee benefits expense are as follows:GroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000(restated)(restated)Wages, salaries and others 515,438 492,800 50,014 47,767Contributions to Employee’s Provident Fund 47,115 18,344 3,954 3,876Expenses for retirement benefits 18,370 6,966 8 162Share option expenses 26,732 15,129 24,377 13,967607,655 533,239 78,353 65,772165ANNUAL REPORT 2007IOI Corporation Berhad
Notes To The Financial Statements cont’d9. INTEREST INCOMEGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Short term deposits 29,736 15,261 17,250 2,229Subsidiaries - - 87,331 82,797Jointly controlled entity 277 - - -Housing development accounts 2,002 3,007 - -Others 7,665 1,744 583 60539,680 20,012 105,164 85,63110. FINANCE COSTSGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Interest expensesBank overdrafts 562 775 - 2Revolving credits 1,235 850 - -Short term loans 3,607 2,135 905 1,056Subsidiaries - - 111,033 99,302Term loans 19,390 13,751 - -1 st Exchangeable Bonds 6,392 33,431 - -2 nd Exchangeable Bonds 31,277 - - -Guaranteed Notes 82,107 85,557 - -Others 304 16 - -144,874 136,515 111,938 100,360Less: Interest capitalised (720) (6,530) - -144,154 129,985 111,938 100,360IOI Corporation BerhadANNUAL REPORT 2007 166
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Our Vision... is to be a leading co
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Chairman’s StatementDear Valued S
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Responsibility“ Today, more than
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Group Performance Highlights2007 20
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Efficiency“The future belongs to
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Management’s Discussion and Analy
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PALM OIL BUSINESS STREAMManagement
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CORPORATE SOCIAL RESPONSIBILITY (CS
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KepongKLCCKL SentralPetaling JayaKu
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Corporate InformationBOARD OF DIREC
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Profile of Directors cont’dDATO
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Profile of Directors cont’dDATUK
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Excellence in ExecutionOur commitme
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Audit Committee Report cont’dTERM
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Audit Committee Report cont’dTERM
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Corporate GovernanceINTRODUCTIONThe
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Corporate Governance cont’dTHE BO
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Corporate Governance cont’dTHE BO
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Corporate Governance cont’dSHAREH
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Statement on Internal ControlINTROD
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Statement on Internal Control cont
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Other InformationCOMPOSITION OF SHA
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RECURRENT RELATED PARTY TRANSACTION
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Other Information cont’dPENALTIES
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Senior Management TeamGroup Chief E
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Global PresenceNORTH AMERICA• USA
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Location of Operations in MalaysiaP
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Corporate CalendarNov 2006• IOI P
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Corporate Calendar cont’dMarch200
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Social ContributionSep 2006• Yaya
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Social Contributions cont’dMay 20
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Directors’ ReportThe Directors of
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Directors’ Report cont’dUSD310
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Directors’ Report cont’dExecuti
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Directors’ Report cont’dReserve
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Directors’ Report cont’dDirecto
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Notes To The Financial Statements c
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Statement By DirectorsIn the opinio
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Group PropertiesA. PLANTATION ESTAT
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Group Properties cont’dA. PLANTAT
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Group Properties cont’dB. DEVELOP
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Group Properties cont’dC. INVESTM
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Group Properties cont’dD. INDUSTR
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Group Properties cont’dE. OTHER P
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Notice of Annual General MeetingNOT
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Notice of Annual General Meeting co
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Statement Accompanying Noticeof Ann
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Shareholders Information cont’das
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This page has been intentionally le
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fold herestampThe Company Secretary
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Eng - IOI Group

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