Eng - IOI Group

More documents

Recommendations

Info

Management’s Discussion and Analysis cont’dGROUP BUSINESS REVIEWINTRODUCTIONThe Group’s property businesses are principally carried out by the Company’s 71% owned listed property arm, IOI PropertiesBerhad. The main stream of the property business is the development activities that contributed approximately 91% of the overallproperty business’s operating profit (excluding a fair value gain on investment properties in FY2007 ). Besides, the Group is alsoinvolved in property investment and most of the investment properties held by the Group are mainly in respect of retail complexesand office buildings developed as part of our township development.Over the years, the Group has been reputed as a successful township developer with our mainstay being the Puchong growthcorridor and southern Johor. As at 30 June 2007, our main property development projects and the status of their development areas follows:OriginalEstimatedYear of Land GrossDevelopment Size DevelopmentPROJECT Commencement (Hectares) Status ValueBandar Puchong Jaya 1990 374 Approaching RM3 billionCompletionBandar Puteri Puchong 2000 374 On-going RM4 billionIOI Resort 1995 37 On-going RM0.5 billionBandar Putra Kulai 1995 2,299 On-going RM8 billionTaman Lagenda Putra, Kulai 2006 91 On-going RM0.5 billionDengkil Land – 217 Expected RM2 billionlaunching inFY2008/951ANNUAL REPORT 2007IOI Corporation Berhad
Management’s Discussion and Analysis cont’dGROUP BUSINESS REVIEWINTRODUCTION cont’dThe table below sets forth certain information with respect to the performance of our property development business:FINANCIAL YEAR2007 2006 2005 2004 2003Units of property sold 1,373 1,266 1,588 2,880 1,963Total sales (RM’000) 636,945 533,124 493,378 669,426 428,897Revenue (RM’000) 706,858 623,778 587,848 685,189 509,857EBIT (RM’000) 397,171 331,350 295,249 315,487 241,907EBIT margin (%) 56.19 53.12 50.23 46.04 47.45OPERATIONS REVIEWThe Malaysian housing market continued to be affected by higher stock overhang in secondary locations in 2006 and this hasinevitably lead to slower take-up rates for new launches. With ample options to choose from, buyers were generally not in a hurryto buy, resulting in an increasing trend of houses being sold only when they are in advanced stage of construction, rather than “offplans”. However, whilst this was the prevailing trend for the broad base market, the upper tier property market was enjoying acompletely different demand scenario.The global surplus in liquidity and the formation of REITS helped ignite sharp price increases in commercial and retail properties aswell as prime residential properties for the rich and super rich in major global cities such as Singapore and this has a spill over effect,albeit relatively on a smaller scale, in the Klang Valley.Capitalising on this trend firstly, we continue to focus on commercial / retail spaces for sale in our twin townships, Bandar Puteri andBandar Puchong Jaya, in Puchong, by offering products such as shop offices. These products were very well received as Puchong isclearly establishing as a very vibrant hub of commercial activities for the sizeable and rapidly growing population catchment.Secondly, in terms of land-banking, we are supplementing our township development by venturing into niche development of luxuryhomes in prime locations; hence the reason for 50:50 joint venture with Ho Bee Investment Ltd. for the Sentosa Cove condominiumproject in Singapore and for the planned development of a condominium project in Jalan Ampang, Kuala Lumpur.For the financial year under review, the Group sold a total of 1,373 units of properties for a total sales value of RM636.9 millionagainst the previous year’s 1,266 units at a total sales value of RM533.1 million.IOI Corporation BerhadANNUAL REPORT 2007 52
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 30 and 31: PALM OIL BUSINESS STREAMManagement
Page 40 and 41: CORPORATE SOCIAL RESPONSIBILITY (CS
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:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
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?