Eng - IOI Group

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Notes To The Financial Statements cont’d37. TRADE AND OTHER PAYABLES cont’d37.2 Other payables and accrualsGroupCompany2007 2006 2007 2006RM’000 RM’000 RM’000 RM’000Land premium payable 25,738 26,671 - -Advances from minority shareholders 17,064 12,849 - -Other payables 210,088 98,056 14,368 18,863Customer deposits and other deposits 25,304 27,413 1,722 1,956Accruals 116,432 107,277 7,900 5,001394,626 272,266 23,990 25,82037.3 Amount due to customers on contractsGroup2007 2006RM’000 RM’000Aggregate cost incurred to date 2,680 -Recognised profit 867 -3,547 -Progress billings (3,635) -Amount due to customers on contracts (88) -38. BANK OVERDRAFTSGroup2007 2006RM’000 RM’000Unsecured 7,013 7,897The bank overdrafts bear interest at rates ranging from 7.25% to 10.50% (2006 - 3.75% to 12.20%) per annum. The significantlyhigher interest rate of 10.50% (2006 - 12.20%) incurred is in respect of an indirect subsidiary in Egypt.213ANNUAL REPORT 2007IOI Corporation Berhad
Notes To The Financial Statements cont’d39. SHORT TERM BORROWINGSGroup2007 2006RM’000 RM’000SecuredTerm loans - portion due within 12 months (Note 34) 68,552 94,444Revolving credits (Note 39.1) 30,664 28,935Trade financing (Note 39.2) 136,747 30,277235,963 153,656UnsecuredTerm loans - portion due within 12 months (Note 34) 6,718 -242,681 153,65639.1 Revolving creditsThe secured revolving credits are secured by a first legal mortgage of an investment property of the Group. The revolvingcredits bear interest at rates ranging from 3.17% to 4.54% (2006 - 2.79% to 4.48%) per annum.39.2 Trade financingTrade financing utilised during the financial year is subject to interest at rates ranging from 3.68% to 5.89% (2006 - 3.00%to 4.00%) per annum.39.3 Short term loansThe Company has entered into a RM300 million Islamic Notes Issuance Facility on 21 May 2002. The RM300 million IslamicNotes Issuance Facility comprises the issuance of Commercial Papers (“CPs”) with maturity of 1 to 12 months and/or MediumTerm Notes (“MTNs”) with maturity of 1 to 7 years based on the Syariah Principle of Al-Murabahah.The CPs issued by the Company during the financial year bear yield to maturity at 3.55% (2006 - 3.30% to 3.46%) perannum. The Company has not issued any MTNs during the financial year.No CP was outstanding as at end of the financial year.IOI Corporation BerhadANNUAL REPORT 2007 214
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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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Directors’ Report cont’dStatuto
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Directors’ Report cont’dSignifi
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Directors’ Report cont’dSignifi
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Income Statementsfor the financial
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Balance Sheets cont’das at 30 Jun
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Statements Of Changes In Equity con
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Statements Of Changes In Equity con
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Cash Flow Statements cont’dfor th
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Cash Flow Statements cont’dfor th
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Notes To The Financial Statements c
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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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fold herestampThe Company Secretary
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