Eng - IOI Group

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Notes To The Financial Statements cont’d50. ANALYSIS OF LIABILITIES PAYABLE AND DEBTS RECEIVABLEThe liabilities payable and debts receivable by the Group, estimated by the Directors are as follows:Group2007 2006RM’000 RM’000(restated)Liabilities PayableAmount due to an associate 2,058 2,739Trade payables 393,035 243,674Other payables and accruals 394,714 272,266Progress billings 28,203 6,733Bank overdrafts 7,013 7,897Short term borrowings 1 167,411 59,212Taxation 78,684 22,875Term loans 688,503 163,6581 st Exchangeable Bonds - 439,1632 nd Exchangeable Bonds 1,051,107 -Guaranteed Notes 1,717,323 1,825,854Club membership deposits 13,601 14,9044,541,652 3,058,975Less:Short term funds 1,879,345 460,633Deposits with financial institutions 507,070 418,595Cash and bank balances 341,581 349,1101,813,656 1,830,637(Receivable)/Payable as follows:Not later than 1 year 2 (1,581,608) (518,498)Later than 1 year and not later than 5 years 1,223,565 508,377Later than 5 years 2,171,699 1,840,7581,813,656 1,830,637Debts ReceivableTrade receivables 935,994 571,384Other receivables, deposits and prepayments 160,066 120,203Accrued billings 101,626 96,185Amount due from customers on contracts 2,575 55Amount due from jointly controlled entity 160,357 -Tax recoverable 95,406 144,2011,456,024 932,028Receivable as follows:Not later than 1 year 1,295,667 932,028Later than 1 year 160,357 -1,456,024 932,028Notes:1 Included in short term borrowings of RM 167,411,000 (2006 - RM59,212,000) are revolving credit facilities of RM 30,664,000 (2006- RM28,935,000) and trade financing of RM 136,747,000 (2006 - RM30,277,000). Even though these facilities have been classified aspayable not later than 1 year based on accounting requirements, the Directors are however of the view that the facilities form part of thebasic financing tools of the Group and therefore significant portion of these facilities will continue to be available in the foreseeable future.2 The liabilities payable not later than 1 year is net of short term funds, deposits with financial institutions and cash and bank balances.245ANNUAL REPORT 2007IOI Corporation Berhad
Notes To The Financial Statements cont’d51. LIST OF SUBSIDIARIES, ASSOCIATES AND JOINTLY CONTROLLED ENTITY cont’dThe subsidiaries and associates, incorporated in Malaysia except otherwise stated, are as follows:Effective GroupInterestName of Company 2007 2006 Principal ActivitiesDirect SubsidiariesPlantationB. A. Plantations Sdn Bhd 100% 100% Cultivation of oil palm and investment holdingCantawan Oil Palms Sdn Bhd 100% 100% Cultivation of oil palmFruitful Plantations Sdn Bhd 100% 100% Cultivation of oil palmHill Land Sdn Bhd 100% 100% Cultivation of oil palmLadang Asas Sdn Bhd 100% 100% Cultivation of oil palmLadang Cantawan (Sabah) Sdn Bhd 100% 100% Cultivation of oil palmMayvin (Sabah) Sdn Bhd 100% 100% Cultivation of oil palm and investment holdingMeriteam Sdn Bhd 100% 100% Cultivation of oil palmMorisem Plantations Sdn Bhd 100% 100% Cultivation of oil palmMorisem (Sabah) Sdn Bhd 100% 100% Cultivation of oil palmPermodalan Plantations Sdn Bhd 70% 70% Cultivation of oil palmPine Capital Sdn Bhd 100% 100% Cultivation of oil palm and investment holdingPR Enterprise Sdn Bhd 100% 100% Cultivation of oil palmPriceland Sdn Bhd 100% 100% Cultivation of oil palmRight Purpose Sdn Bhd 100% 100% Cultivation of oil palmSafima Plantations Sdn Bhd 100% 100% Cultivation of oil palmSakilan Desa Sdn Bhd 100% 90% Cultivation of oil palmSri Cantawan Sdn Bhd 100% 100% Cultivation of oil palmTerusan Baru Sdn Bhd 100% 100% Cultivation of oil palmDynamic Plantations Berhad 100% 100% Cultivation of oil palm and processing of palm oilHalusah Ladang Sdn Bhd 100% 100% Cultivation of oil palm and processing of palm oilLadang Sabah Sdn Bhd 100% 100% Cultivation of oil palm and processing of palm oilMayvin Incorporated Sdn Bhd 100% 100% Cultivation of oil palm, processing of palm oil andinvestment holdingMorisem Palm Oil Mill Sdn Bhd 100% 100% Cultivation of oil palm and processing of palm oilIOI Pelita Plantation Sdn Bhd 70% - Cultivation of oil palm(formerly known as Rinwood Pelita Plantation Sdn Bhd)IOI Pelita Quarry Sdn Bhd 70% - Quarry operator(formerly known as Rinwood Pelita Quarry Sdn Bhd)IOI Corporation BerhadANNUAL REPORT 2007 246
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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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Page 261 and 262: Group PropertiesA. PLANTATION ESTAT
Page 263 and 264: Group Properties cont’dA. PLANTAT
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Page 267 and 268: Group Properties cont’dC. INVESTM
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Page 273 and 274: Notice of Annual General MeetingNOT
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Page 279 and 280: Shareholders Information cont’das
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Page 283 and 284: fold herestampThe Company Secretary
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