Annual Report 2012 - IOI Group

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The Malaysian property market outlook is expectedto remain positive especially in the landed propertysegment. With the Group’s proven track record intownship development as well as the good locationof our townships, we are confident that the Groupwill perform better in FY2013. As for our developmentprojects in Singapore, the continued resilientperformance of the mass market segment willensure that the Group’s more recent mass marketprojects continue to do well, although the high-endmarket segment is still affected by uncertainty in theglobal economic environment and cooling measuresintroduced by the Government of Singapore. Overall,the Group remains optimistic on the long-termprospects of its property development business. Aspart of the Group’s strategy in boosting up itsinvestment properties portfolio, the Group hasembarked on its flagship project called IOI CityDevelopment comprising a mega shopping mall,two office towers and a hotel in Putrajaya. This newaddition will provide the Group with stable recurringincome as well as potential capital gains in thefuture.The Group’s resource-based manufacturing divisioncontinues to face margin pressures due to Indonesia’sdifferential export duty structure. However, thissegment should still perform satisfactorily due toresilient demand from the food industry for specialtyoils and fats and the established multinationalcustomer base enjoyed by both our specialty fatsand oleochemical business.ACKNOWLEDGMENTSDespite the many challenges faced, the Group hasperformed satisfactorily during the year underreview. I wish to express my personal gratitude andappreciation to our Management and all ouremployees for their contribution, dedication andloyalty throughout these challenging times. Inaddition, I would like to take the opportunity toextend a warm welcome to Mr Cheah Tek Kuang,who was appointed to the Board effective from 22August 2012.I also wish to thank all our customers, businesspartners, Government authorities, shareholders andfellow Board members for their continued strongsupport to the Group.Thank you.TAN SRI DATO’ LEE SHIN CHENGExecutive ChairmanTop: The environmentalfriendlySouth Beachdevelopment in Singapore wasaccorded two Building &Construction Authority (“BCA”)Green Mark Platinum Awardsfor its Residential andCommercial components.Bottom: An artist’s impressionof IOI City Mall; a maincomponent of the 36-acre IOICity Development locatedwithin IOI Resort City,Putrajaya.Annual Report 2012IOI CORPORATION BERHAD 11
GROUP FINANCIALOVERVIEWCASH FLOWFOR THE FINANCIAL YEAR ENDED 30 JUNE 2012RM MILLIONNet operating cash flow 2,132Capital expenditure, net of disposal (397)Free cash flow from operation 1,735Proceeds from issuance of shares 34Proceeds from disposal of investments,net of payments for other investments 90Investment in development land bank (1,204)Payment to jointly controlled entities (237)Advances from non-controlling interests 130Interest paid (198)Share repurchases by the Company (140)Dividend payments– Shareholders of the Company (1,023)– Shareholders of subsidiaries (12)Cash outflow in net borrowings (825)Accretion of term loans (2)Fair value changes of exchangeable bonds 33Accretion of guaranteed notes (1)Net increase in net borrowings (795)Net borrowings as at 30.06.11 (2,612)Translation difference (354)Net borrowings as at 30.06.12 (3,761)STATEMENT OF FINANCIAL POSITIONAS AT 30 JUNE 2012STATEMENT RM MILLIONOF FINANCIAL POSITIONAS AT 30 JUNE 2012AssetsProperty, plant & equipment5,714Other long term assets8,165Other current assets4,825Cash & cash equivalents (A)4,361Equity and LiabilitiesRetained earnings10,197Share capital & other reserves2,431Borrowings (B)8,122Non-controlling interests288Other liabilities2,027Net borrowings = (B)-(A) = RM3,761 MillionNet Gearing = 30%12IOI CORPORATION BERHADAnnual Report 2012
Page 1 and 2: IOI CORPORATION BERHAD (9027-W)IOI
Page 3 and 4: KEYINDICATORS20%15105IOI CORPORATIO
Page 5 and 6: OUR VISIONOUR COREVALUESCONTENTSIOI
Page 7 and 8: CHAIRMAN’SSTATEMENT
Page 9 and 10: CONTRIBUTION TO SEGMENT RESULTS2012
Page 11: Sustainability andCORPORATE SOCIALR
Page 15 and 16: GROUP PERFORMANCEHIGHLIGHTS2012RM
Page 17 and 18: FIVE-YEAR FINANCIALHIGHLIGHTS2012RM
Page 19 and 20: MANAGEMENT’SDISCUSSION AND ANALYS
Page 21 and 22: • Pre-tax Earnings decreased by 1
Page 23 and 24: 20181614121086420-2%Cost of Equity
Page 25 and 26: plantationAchievements in productiv
Page 27 and 28: PLANTATION
Page 29 and 30: PLANTATION STATISTICSCROP STATEMENT
Page 31 and 32: OPERATIONS REVIEWFor the financial
Page 33 and 34: esource-based manufacturingThe succ
Page 35 and 36: RESOURCE-BASED MANUFACTURING
Page 37 and 38: OLEOCHEMICALSMANUFACTURINGThe princ
Page 39 and 40: Bottom: IOI Loders CroklaanAmericas
Page 41 and 42: PROPERTYA green building comprises
Page 43 and 44: Property
Page 45 and 46: Left: The new Palm GardenGolf Cours
Page 47 and 48: OUTLOOK & PROSPECTSThe local proper
Page 49 and 50: sustainability andCORPORATE SOCIAL
Page 51 and 52: Top: Beneficial plants.Bottom: Buff
Page 53 and 54: Operating under the Institute of Sh
Page 55 and 56: CORPORATE SOCIALRESPONSIBILITYSocia
Page 57 and 58: SEPTEMBER 2011Palm Garden Hotel, to
Page 59 and 60: DECEMBER 2011IOI Mall Puchong offer
Page 61 and 62: APRIL 2012Yayasan TSLSC donated RM2
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BOARD OF DIRECTORS3 4211. DATO’ L
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PROFILE OFDIRECTORSWhen others seet
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Lee Cheng Leang was first appointed
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Quah Poh Keat was first appointed t
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SeniorManagement TeamGroup Chief Ex
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GLOBALPRESENCECANADAONTARIOCANADAON
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LOCATION OFOPERATIONS IN MALAYSIAPe
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CORPORATECALENDARJULY 2011IOI Corpo
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JANUARY 2012IOIP, through its subsi
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MAY 2012IOI Oleochemical’s Penang
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Audit and Risk ManagementCommittee
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x. To review any related party tran
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STATEMENT ONCORPORATE GOVERNANCEInt
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Training and Development of Directo
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Cheah Tek Kuang 2011 Forbes Global
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SHAREHOLDERSDialogue Between the Co
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STATEMENT ONINTERNAL CONTROLINTRODU
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MONITORING• The Group’s policie
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STATEMENT OF DIRECTORS’ INTERESTS
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Notes:(1) Details of the transactin
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DIRECTORS’REPORTThe Directors of
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DIRECTORS’REPORTUSD600 Million Ze
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DIRECTORS’REPORTExecutive Share O
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DIRECTORS’REPORTDirectors’ Inte
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DIRECTORS’REPORTSignificant Event
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INCOMESTATEMENTSFor The Financial Y
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STATEMENTS OFFINANCIAL POSITIONAs A
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STATEMENTS OFCHANGES IN EQUITYFor T
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STATEMENTS OFCHANGES IN EQUITYFor T
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STATEMENTS OFCASH FLOWSFor The Fina
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STATEMENTS OFCASH FLOWSFor The Fina
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NOTES TO THEFINANCIAL STATEMENTS3.
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INDEPENDENTAUDITORS’ REPORTTo The
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GROUPPROPERTIESA. PLANTATIONS ESTAT
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GROUPPROPERTIESB. DEVELOPMENT PROPE
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GROUPPROPERTIESB. DEVELOPMENT PROPE
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GROUPPROPERTIESC. INVESTMENT PROPER
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GROUPPROPERTIESD. INDUSTRIAL PROPER
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GROUPPROPERTIESE. OTHER PROPERTIES
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NOTICE ofAnnual general MeetingAGEN
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NOTICE ofAnnual general MeetingNote
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SHAREHOLDERSINFORMATIONAs At 30 Aug
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SHAREHOLDERSINFORMATIONAs At 30 Aug
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1st fold heresTAMPThe Company Secre
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Annual Report 2012 - IOI Group

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