Annual Report 2012 - IOI Group

More documents

Recommendations

Info

The Board has identified Datuk Hj Mohd Khalil b Dato’ Hj MohdNoor as the Senior Independent Non-Executive Director of theBoard to whom concerns (of shareholders, management or others)may be conveyed. The Senior Independent Non-Executive Directormay be contacted at Tel: +(603) 8947 8953 and email: datuk.mohd.khalil@ioigroup.com.Board MeetingsThe Board has at least five (5) regularly scheduled meetingsannually, with additional meetings for particular matters convenedas and when necessary. Board meetings bring an independentjudgement to bear on issues of strategies, risks, performance,resources and standards of conduct.Eight (8) Board meetings were held during the financial yearended 30 June 2012. The attendance record of each Director sincethe last financial year was as follows:TotalNumber ofMeetingsNumber ofMeetingsAttendedExecutive DirectorsTan Sri Dato’ Lee Shin Cheng 8 8Dato’ Lee Yeow Chor 8 8Lee Yeow Seng 8 7Lee Cheng Leang 8 7Non-Executive DirectorsDatuk Hj Mohd Khalil b8 8Dato’ Hj Mohd NoorDatuk Karownakaran @8 7Karunakaran a/l RamasamyQuah Poh Keat 8 7Lim Tuang Ooi 8 8Cheah Tek Kuang(Appointed on 22 August 2012)– –Supply of InformationAll Board members are supplied with information in a timelymanner. Board reports are circulated prior to the Board meetingsto enable the Directors to obtain further information andexplanation, where necessary, before the meetings.The Board reports include, amongst others, periodical financialand corporate information, significant operational, financial andcorporate issues, performance of the various business units andmanagement proposals that require Board’s approval.Detailed periodic briefings on industry outlook, companyperformance and forward previews (forecasts) are also conductedfor the Directors to ensure that the Board is well informed of thelatest market and industry trends and developments.The Board has direct access to the advice and services of two (2)Company Secretaries who are responsible to the Board for ensuringthat all Board procedures are followed and that applicable lawsand regulations are complied with. These include obligations onDirectors relating to disclosure of interests and disclosure of anyconflicts of interest in transactions with the Group. The CompanySecretaries are also charged with highlighting all issues which theyfeel ought to be brought to the Board’s attention. BesidesCompany Secretaries, independent Directors also have unfetteredaccess to the financial and legal officers as well as the internalauditors of the Company.In exercising their duties, Board committees are entitled to obtainprofessional opinions or advice from external consultants such asinvestment bankers, valuers, human resource consultants, etc.Annual Report 2012IOI CORPORATION BERHAD 87
Training and Development of DirectorsTraining needs as deemed appropriate by individual Board members are provided. Board members keep abreast with general economic,industry and technical developments by their attendances at appropriate conferences, seminars and briefings.All the Directors had completed the Mandatory Accreditation Programme as specified by Bursa Securities. During the financial year,members of the Board have attended various training programmes, forums, conferences and seminars as follows:Tan Sri Dato’ Lee ShinChengMalaysia - China Trade & Investment International 10 September 2011 to 11 September 2011Conference 20112011 Forbes Global CEO Conference 12 September 2011 to 14 September 201111th World Chinese Entrepreneurs Convention 5 October 2011 to 7 October 2011Rabobank 2011 Asia Food & Agribusiness Advisory 22 November 2011 to 23 November 2011Board Meeting23rd Annual Palm & Lauric Oils Conference & Exhibition 6 March 2012Price Outlook 2012/2013China (Gui Zhou) - Malaysia Joint Development 21 March 2012Promotion ConferenceChina (Fujian) - Malaysia Joint Development Promotion 28 May 2012ConferenceDato’ Lee Yeow Chor 2011 Forbes Global CEO Conference 12 September 2011 to 14 September 20113rd World Chinese Economic Forum 2011 3 October 2011 to 4 October 2011Palm Oil Trade Fair & Seminar, South Africa, Nigeria & 6 December 2011 to 13 December 2011AbujaPrice Outlook Forum 6 March 2012 to 7 March 2012Palm Oil Trade Fair & Seminar, Philippines 16 April 2012 to 17 April 2012Palm Oil Trade Fair & Seminar, India 6 June 2012 to 8 June 2012Lee Yeow Seng 11th World Chinese Entrepreneurs Convention 5 October 2011 to 7 October 2011Economic Seminar by Standard Chartered Bank 12 October 2011Rabobank 2011 Asia Food & Agribusiness Advisory 22 November 2011 to 23 November 2011Board MeetingProgramme Advisory Committee Seminar by Malaysian 5 April 2012Palm Oil BoardProperty & Hospitality Summit 2012 26 April 2012Lee Cheng LeangScrutinising Financial Statements Frauds and Detectionof Red Flags for Directors and Officers of PLCs andGovernment Regulatory AgenciesCorporate Governance - The Competitive Advantage byMinority Shareholder Watchdog GroupBursa Malaysia’s Half Day Governance Programme: Roleof Audit Committee in Assuring Audit QualityBursa Malaysia’s Half Day Governance Programme:Corporate Governance Blueprint and Malaysian Codeof Corporate Governance 201231 October 201116 April 201222 May 201218 June 201288IOI 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 and 12:
Sustainability andCORPORATE SOCIALR
Page 13 and 14:
GROUP FINANCIALOVERVIEWCASH FLOWFOR
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
Page 63 and 64: BOARD OF DIRECTORS3 4211. DATO’ L
Page 65 and 66: PROFILE OFDIRECTORSWhen others seet
Page 67 and 68: Lee Cheng Leang was first appointed
Page 69 and 70: Quah Poh Keat was first appointed t
Page 71 and 72: SeniorManagement TeamGroup Chief Ex
Page 73 and 74: GLOBALPRESENCECANADAONTARIOCANADAON
Page 75 and 76: LOCATION OFOPERATIONS IN MALAYSIAPe
Page 77 and 78: CORPORATECALENDARJULY 2011IOI Corpo
Page 79 and 80: JANUARY 2012IOIP, through its subsi
Page 81 and 82: MAY 2012IOI Oleochemical’s Penang
Page 83 and 84: Audit and Risk ManagementCommittee
Page 85 and 86: x. To review any related party tran
Page 87: STATEMENT ONCORPORATE GOVERNANCEInt
Page 91 and 92: Cheah Tek Kuang 2011 Forbes Global
Page 93 and 94: SHAREHOLDERSDialogue Between the Co
Page 95 and 96: STATEMENT ONINTERNAL CONTROLINTRODU
Page 97 and 98: MONITORING• The Group’s policie
Page 99 and 100: STATEMENT OF DIRECTORS’ INTERESTS
Page 101 and 102: Notes:(1) Details of the transactin
Page 103 and 104: DIRECTORS’REPORTThe Directors of
Page 105 and 106: DIRECTORS’REPORTUSD600 Million Ze
Page 107 and 108: DIRECTORS’REPORTExecutive Share O
Page 109 and 110: DIRECTORS’REPORTDirectors’ Inte
Page 111 and 112: DIRECTORS’REPORTSignificant Event
Page 113 and 114: INCOMESTATEMENTSFor The Financial Y
Page 115 and 116: STATEMENTS OFFINANCIAL POSITIONAs A
Page 117 and 118: STATEMENTS OFCHANGES IN EQUITYFor T
Page 119 and 120: STATEMENTS OFCHANGES IN EQUITYFor T
Page 121 and 122: STATEMENTS OFCASH FLOWSFor The Fina
Page 123 and 124: STATEMENTS OFCASH FLOWSFor The Fina
Page 125 and 126: NOTES TO THEFINANCIAL STATEMENTS3.
Page 139 and 140:
NOTES TO THEFINANCIAL STATEMENTS5.
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:
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267 and 268:
Page 269 and 270:
Page 271 and 272:
INDEPENDENTAUDITORS’ REPORTTo The
Page 273 and 274:
GROUPPROPERTIESA. PLANTATIONS ESTAT
Page 275 and 276:
GROUPPROPERTIESB. DEVELOPMENT PROPE
Page 277 and 278:
GROUPPROPERTIESB. DEVELOPMENT PROPE
Page 279 and 280:
GROUPPROPERTIESC. INVESTMENT PROPER
Page 281 and 282:
GROUPPROPERTIESD. INDUSTRIAL PROPER
Page 283 and 284:
GROUPPROPERTIESE. OTHER PROPERTIES
Page 285 and 286:
NOTICE ofAnnual general MeetingAGEN
Page 287 and 288:
NOTICE ofAnnual general MeetingNote
Page 289 and 290:
SHAREHOLDERSINFORMATIONAs At 30 Aug
Page 291 and 292:
SHAREHOLDERSINFORMATIONAs At 30 Aug
Page 293:
1st fold heresTAMPThe Company Secre
show all

Annual Report 2012 - IOI Group

Create successful ePaper yourself

Delete template?

Save as template?