board of directors - Petron

5. PROFIT FROM ORDINARY ACTIVITIES BEFORE TAX (Continued)The estimated monetary value of benefits provided to Directors during the year by way of usage of theCompany’s assets and the provision of accommodation and other benefits amounted to RM64,000(2000: RM49,000).Provision for retirement benefits is made for all national employees under the Company’s retirementbenefits plan. The charge to income includes an amount of RM104,000 (2000: RM101,000) in respect ofDirectors who are full time employees of the Company.Staff cost disclosed include remuneration of Executive Directors amounting to RM966,000(2000: RM968,000). Of this, the amount paid to the Company’s ultimate holding company in respect ofits executives assigned to the Company as Executive Directors amounted to RM363,000 (2000:RM440,000).6. TAXATION2001 2000RM'000 RM'000Current Taxation 34,021 15,417Prior years (1,713) 573Deferred TaxationCurrent year 41,716 76374,024 16,753The effective tax rate was higher than the prevailing statutory tax rate because certain expenses werenot deductible for tax purposes.7. EARNINGS PER ORDINARY STOCK UNITEarnings per ordinary stock unit is calculated by dividing the net profit attributable to shareholdersby the number of ordinary stock units in issue during the year.2001 2000Net profit attributable to shareholders (RM'000) 182,481 21,873Number of ordinary stock unit in issue ('000) 270,000 270,000Basic earnings per stock unit (sen) 67.6 8.18. PROPERTY, PLANT AND EQUIPMENTCost or valuation:Buildings Plant CapitalFreehold Leasehold and and projectland land improvements equipment in-progress TotalRM'000 RM'000 RM'000 RM'000 RM'000 RM'000At January 1, 2001 195,112 98,141 234,676 1,050,395 68,915 1,647,239Additions at cost - 23,386 - 95,046 55,970 174,402Disposals (52) - (675) (19,511) - (20,238)Reclassifications 13,130 - 4,205 26,491 (43,826) -At December 31, 2001 208,190 121,527 238,206 1,152,421 81,059 1,801,403Representing items at:Valuation-1982 66,227 4,573 17,069 - - 87,869Cost-Post 1982 net additions 141,963 116,954 221,137 1,152,421 81,059 1,713,534208,190 121,527 238, 206 1,152,421 81,059 1,801,403ANNUAL REPORT & ACCOUNTS 200131ESSO MALAYSIA BERHAD