Directors - Boustead Holdings Berhad

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DEAR SHAREHOLDER To surmise that it has been an eventful year would certainly be an understatement. Our guiding principles of unlocking value for our assets and improving shareholder value has been our passion.
Chief Executive’s Review Each year our challenges neither reduce nor diminish but with these challenges come opportunities. I am happy to note your Group has not only been able to embrace these challenges, but have been able to convert them into opportunities that have had a material impact on our profitability and financial health. FINANCIAL PERFORMANCE We achieved a sterling year with a Group pre-tax profit of RM386 million compared with last year’s profit of RM271 million. This represents an increase of 42% on a year-on-year basis incorporating both operating profit and our landmark exercise involving the Al-Hadharah <strong>Boustead</strong> REIT which contributed a gain of RM249 million. Profit from operations amounted to RM199 million compared with last year’s RM164, representing a 21% increase. This was the result of impressive contributions by our Plantation and Trading Divisions. Our gearing level at year end stood at 1.20, a slight increase from last year’s 1.17. This increase was due to our investing activities, mainly our acquisition of <strong>Boustead</strong> Naval Shipyard. Nevertheless, gearing reduced in early 2007 as a result of cash inflow of RM220 million derived from our REIT. The Government has initiated a transformation programme for Government-Linked Companies (GLC) in 2006 with a view towards raising the bar on how we perform in corporate Malaysia. This exercise which is laudable and most needed, demanded from each GLC a set of key performance indicators (KPI). I am glad to note we have outperformed our KPIs. Return on Equity was 11.5% and Return on Asset was 9.2% versus the targets set of 7.9% and 7.6% respectively, while dividend payout will be 37% versus the target set of 32%. The Plantation Division remains our mainstay as far as contributions to Group profitability is concerned and this will be the case for years to come. The surge in palm oil prices was all the more evident as CPO averaged at RM1,464 per MT, as compared to previous year’s at RM1,375 per MT. 39
Page 1 and 2: www.boustead.com.my Boustead Holdin
Page 3 and 4: annual report
Page 5 and 6: Standing from left Y. BHG. LT. GEN.
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Page 11 and 12: Corporate Calendar FINANCIAL YEAR 1
Page 13 and 14: En Hussin Abdul Jalil Boustead Esta
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Boustead Group 140 Group Interest %
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Boustead Group 142 Group Interest %
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Additional Disclosure (Pursuant to
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Recurrent Related Party Transaction
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Recurrent Related Party Transaction
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Group Oil Palm Agricultural Statist
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Location of Group Plantation Proper
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Shareholding Statistics 166 AS AT 3
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Statement of Directors’ Interest
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Notice of Annual General Meeting NO
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Boustead Management Services Sdn Bh
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Directors - Boustead Holdings Berhad

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