Eng - IOI Group

More documents

Recommendations

Info

Notes To The Financial Statements cont’d40. DISPOSAL OF A SUBSIDIARY2007Palmco Hotels Sdn BhdOn 1 September 2006, a wholly-owned subsidiary of the Company, IOI Oleochemical Industries Berhad (“IOI Oleo”) disposedoff its 22,500,002 ordinary shares of RM1.00 each in Palmco Hotels Sdn Bhd (“PHSB”), representing the entire issued and paidupshare capital of PHSB, for a cash consideration of RM24,489,000. In addition, IOI Oleo also received RM18,692,000 for thesettlement of debt owing by PHSB to IOI Oleo as at 1 September 2006. The subsidiary was previously reported as part of the hoteloperation and management.Details of fair value of the net assets disposed and cash inflow on disposal of the subsidiary were as follows:RM’000Property, plant and equipment 47,919Net current liabilities (18,180)Other long term liabilities (4,712)Net assets disposed 25,027Less: Net proceeds from disposal (24,489)Loss on disposal of a subsidiary 538Cash consideration for the disposal 24,489Settlement of inter-company loan owing by PHSB 18,692Total proceeds from disposal 43,181Less: cash and cash equivalents of subsidiary disposed (1,055)Cash inflow on disposal of a subsidiary 42,126Less: Deposit received in the previous financial year (4,550)Less: Retention sum (2,379)35,197215ANNUAL REPORT 2007IOI Corporation Berhad
Notes To The Financial Statements cont’d40. DISPOSAL OF A SUBSIDIARY cont’dThe effect of the above disposal on the financial results of the Group for the current financial year was as follows:2007 *RM’000Operating profit 242Net interest expense -Profit before taxation 242Taxation -Profit after taxation 242Loss on disposal of a subsidiary (538)Decrease in Group’s net profit (296)* Financial results up to date of disposal41. ACQUISITION OF SUBSIDIARIES2007During the current financial year, the Company acquired the following subsidiaries:NoteCash outflow,net of cashand cashequivalentsacquiredRM’000Rinwood Pelita Plantation Sdn Bhd and Rinwood Pelita Quarry Sdn Bhd 41.1 52,345Pan-Century Edible Oils Sdn Bhd and Pan-Century Oleochemicals Sdn Bhd 41.2 428,099480,444IOI Corporation BerhadANNUAL REPORT 2007 216
Page 3 and 4:
Our Vision... is to be a leading co
Page 5:
Chairman’s StatementDear Valued S
Page 12:
Responsibility“ Today, more than
Page 15:
Group Performance Highlights2007 20
Page 20 and 21:
Efficiency“The future belongs to
Page 22 and 23:
Management’s Discussion and Analy
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
PALM OIL BUSINESS STREAMManagement
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
CORPORATE SOCIAL RESPONSIBILITY (CS
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
KepongKLCCKL SentralPetaling JayaKu
Page 61 and 62:
Corporate InformationBOARD OF DIREC
Page 63 and 64:
Profile of Directors cont’dDATO
Page 65 and 66:
Profile of Directors cont’dDATUK
Page 68 and 69:
Excellence in ExecutionOur commitme
Page 70 and 71:
Audit Committee Report cont’dTERM
Page 72 and 73:
Audit Committee Report cont’dTERM
Page 74 and 75:
Corporate GovernanceINTRODUCTIONThe
Page 76 and 77:
Corporate Governance cont’dTHE BO
Page 78 and 79:
Corporate Governance cont’dTHE BO
Page 80 and 81:
Corporate Governance cont’dSHAREH
Page 82 and 83:
Statement on Internal ControlINTROD
Page 84 and 85:
Statement on Internal Control cont
Page 86 and 87:
Other InformationCOMPOSITION OF SHA
Page 88 and 89:
RECURRENT RELATED PARTY TRANSACTION
Page 90 and 91:
Other Information cont’dPENALTIES
Page 93 and 94:
Senior Management TeamGroup Chief E
Page 95 and 96:
Global PresenceNORTH AMERICA• USA
Page 97 and 98:
Location of Operations in MalaysiaP
Page 99 and 100:
Corporate CalendarNov 2006• IOI P
Page 101 and 102:
Corporate Calendar cont’dMarch200
Page 103 and 104:
Social ContributionSep 2006• Yaya
Page 105 and 106:
Social Contributions cont’dMay 20
Page 107 and 108:
Directors’ ReportThe Directors of
Page 109 and 110:
Directors’ Report cont’dUSD310
Page 111 and 112:
Directors’ Report cont’dExecuti
Page 113 and 114:
Directors’ Report cont’dReserve
Page 115 and 116:
Directors’ Report cont’dDirecto
Page 117 and 118:
Directors’ Report cont’dStatuto
Page 119 and 120:
Directors’ Report cont’dSignifi
Page 121 and 122:
Directors’ Report cont’dSignifi
Page 123 and 124:
Income Statementsfor the financial
Page 125 and 126:
Balance Sheets cont’das at 30 Jun
Page 127 and 128:
Statements Of Changes In Equity con
Page 129 and 130:
Statements Of Changes In Equity con
Page 131 and 132:
Cash Flow Statements cont’dfor th
Page 133 and 134:
Cash Flow Statements cont’dfor th
Page 135 and 136:
Notes To The Financial Statements c
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168: Notes To The Financial Statements c
Page 217: Notes To The Financial Statements c
Page 259 and 260: Statement By DirectorsIn the opinio
Page 261 and 262: Group PropertiesA. PLANTATION ESTAT
Page 263 and 264: Group Properties cont’dA. PLANTAT
Page 265 and 266: Group Properties cont’dB. DEVELOP
Page 267 and 268: Group Properties cont’dC. INVESTM
Page 269 and 270:
Group Properties cont’dD. INDUSTR
Page 271 and 272:
Group Properties cont’dE. OTHER P
Page 273 and 274:
Notice of Annual General MeetingNOT
Page 275 and 276:
Notice of Annual General Meeting co
Page 277 and 278:
Statement Accompanying Noticeof Ann
Page 279 and 280:
Shareholders Information cont’das
Page 281 and 282:
This page has been intentionally le
Page 283 and 284:
fold herestampThe Company Secretary
show all

Eng - IOI Group

Create successful ePaper yourself

Delete template?

Save as template?