Our People, Our Strength

Transcription

1 Printed on recycled paper Dicetak atas kertas kitar semula Gamuda Berhad T Laporan Tahunan Annual Report 2001 Our People, Our Strength produced by Group Public Affairs Division diterbitkan oleh Bahagian Hal-Ehwal Awam Kumpulan designed by reka bentuk oleh Octagon Design House Gamuda Berhad T No Jalan SS22/23 Damansara Jaya Petaling Jaya Selangor Darul Ehsan Malaysia Tel Fax gbgpa@gamuda.com.my Website Laporan Tahunan Annual Report 2001 FEB 2001 VOTED S BEST MANAGED ASIAN CONSTRUCTION COMPANY

2 Our People, Our Strength Sumber Manusia, Kekuatan Kami Few deeds are accomplished alone. We have our engineering & construction team, design & technical, tender & budget and we make every team search for opportunity for the company. This is the power of the team we have. As we celebrate our 25th Anniversary this year, we salute our people for taking our business to where it is today. Sebesar manakah kejayaan yang boleh dicapai jika dilakukan bersendirian? Kami mempunyai pasukan kejuruteraan & pembinaan, reka bentuk & teknikal, tender & budget dan kami mendorong setiap pasukan meninjau berbagai peluang yang boleh memanfaatkan syarikat. Inilah kelebihan yang ada pada pasukan kami. Sempena ulang tahun ke 25, kami mengambil kesempatan ini untuk memberi sanjungan kepada sumber manusia yang membolehkan kami mencapai kejayaan sehingga kini. from left to right 1st row Elisna Ismail Senior IT Executive Lillian Chan Sales Executive Manjit Singh HR & Admin Executive Eddie Chan Architect & Planning Manager Tee Seng Poh Section Head dari kiri ke kanan barisan 1 Elisna Ismail Eksekutif IT Kanan Lillian Chan Eksekutif Jualan Manjit Singh Eksekutif Sumber Manusia & Pentadbiran Eddie Chan Pengurus Arkitek & Perancangan Tee Seng Poh Ketua Seksyen 2nd row Linda Lim Senior Sales Manager Paul Ong Construction Manager Sharon Kuah Assistant Quantity Surveyor Zilfalela Mohd Kamal Secretary Hasmafikri Harun Senior Contracts Executive barisan 2 Linda Lim Pengurus Jualan Kanan Paul Ong Pengurus Pembinaan Sharon Kuah Penolong Juruukur Bahan Zilfalela Mohd Kamal Setiausaha Hasmafikri Harun Eksekutif Kontrak Kanan 3rd row Liew Sheong Perk IT Executive Shahriza Swayonoh Receptionist Pua Boon Hin Chief Surveyor Krishnamoorthy Naidu Training Executive Susheela Ramasamy Senior HR Executive barisan 3 Liew Sheong Perk Eksekutif IT Shahriza Swayonoh Penyambut Tetamu Pua Boon Hin Ketua Juruukur Krishnamoorthy Naidu Eksekutif Latihan Susheela Ramasamy Eksekutif Kanan, Sumber Manusia 4th row Denise Chong Assistant Manager, Insurance Elaine Koh Design Engineer Mujiati Siono General Assistant Mohd Amjad Faruq Site Engineer Hasnah Mohammed Senior Training Manager barisan 4 Denise Chong Penolong Pengurus, Insurans Elaine Koh Jurutera Reka Bentuk Mujiati Siono Pembantu Am Mohd Amjad Faruq Jurutera Tapak Hasnah Mohammed Pengurus Latihan Kanan Gamuda Teamwork Principles 1 Solve the problem Concentrate on resolving problems and meeting objectives 2 Lead by setting the right example Displaying the right behaviour shows commitment and will motivate others to follow 3 Maintain constructive relationships Cultivate positive attitudes and interpersonal relationships 4 Communicate openly Open and honest communication provides the flow of information to make the right decisions 5 Demonstrate mutual trust and respect Trust is what makes teamwork possible Gamuda Prinsip-prinsip Semangat Berpasukan 1 Menyelesaikan masalah Tumpukan perhatian menyelesai masalah dan memenuhi objektif 2 Kepimpinan melalui teladan Pamerkan kelakuan baik sebagai bukti komitmen yang akan menjadi pendorong kepada orang lain 3 Mengekalkan hubungan membina Pupuk sikap positif dan hubungan antara insan 4 Komunikasi terbuka Komunikasi yang terbuka dan jujur menyediakan aliran maklumat untuk membuat keputusan yang tepat 5 Tampilkan semangat saling mempercayai dan menghormati Kepercayaan adalah intisari keberkesanan semangat berpasukan

3 FINANCIAL STATEMENTS 62 Directors Report 69 Statement by Directors/Statutory Declaration 70 Auditors Report 71 Consolidated Balance Sheet 72 Consolidated Income Statement 73 Consolidated Statement of Changes In Equity 74 Consolidated Cash Flow Statement 76 Balance Sheet 77 Income Statement 78 Statement of Changes In Equity 79 Cash Flow Statement 81 Notes to the Financial Statements

4 DIRECTORS REPORT The directors hereby submit their report together with the audited financial statements of the Group and the Company for the financial year ended 31 July PRINCIPAL ACTIVITIES The principal activities of the Company are that of investment holding and civil engineering construction. The principal activities of the subsidiaries are described in Note 13 to the financial statements. 62 There were no significant changes in these activities during the financial year except for the activities of the new subsidiaries. RESULTS Group RM 000 Company RM 000 Profit after taxation 196,185 72,399 Minority interests (4,477) Net profit attributable to shareholders 191,708 72,399 DIVIDENDS The amount of dividends paid or declared by the Company since 31 July 2000 were as follows: RM 000 In respect of the financial year ended 31 July 2000 Final dividend of 4% tax exempted paid on 5 February ,608 In respect of the financial year ended 31 July 2001 Interim dividend of 4% tax exempted paid on 19 April ,611 The directors recommend a final dividend of 4% less 28% taxation amounting to RM19,163,000 in respect of the current financial year. RESERVES AND PROVISIONS There were no material transfers to or from reserves or provisions during the financial year other than those disclosed in the statements of changes in equity. BAD AND DOUBTFUL DEBTS Before the income statements and balance sheets were made out, the directors took reasonable steps to ascertain that action had been taken in relation to the writing off of bad debts and the making of provision for doubtful debts and satisfied themselves that there were no known bad debts and that adequate provision had been made for doubtful debts. At the date of this report, the directors are not aware of any circumstances that would require any amounts to be written off as bad debts or render the amount of provision for doubtful debts in the financial statements of the Group and the Company inadequate to any substantial extent.

5 DIRECTORS REPORT WARRANTS The Warrants 1996/2001 are constituted by a Deed Poll dated 23 December 1996 executed by the Company for the holders of the Warrants 1996/2001. In 1999, the subscription period was extended for a further period of five years from 29 December 2001 to 29 December The Warrants 1996/2006 may be exercised at any time on and after 30 December 1996 up to 29 December Each Warrant 1996/2006 carries the entitlement to subscribe for one new ordinary share of RM1.00 in the Company at an exercise price of RM4.21 each, which are subject to adjustment in accordance with the provisions in the Deed Poll. Any Warrants 1996/2006 which have not been exercised at the date of maturity will lapse and cease to be valid for any purpose. The shares arising from the exercise of Warrants 1996/2006 shall rank pari passu in all respects with the ordinary shares of the Company except that they shall not be entitled to any rights, dividends or other distributions unless the exercise of Warrants 1996/2006 was effected before the book closure of the share registers for the determination of the entitlement to such rights or distributions. As at the balance sheet date, the total number of Warrants 1996/2006 which remain unexercised amounted to 76,650,642 units. The Warrants 2001/2007 are executed pursuant to the issuance of renounceable rights issue of up to 166,297,668 new warrants during the financial year. The Warrants 2001/2007 are constituted by a Deed Poll dated 27 November 2000 executed by the Company for the holders of the Warrants 2001/2007. The Warrants 2001/2007 may be exercised at any time on and after 22 February 2001 up to 21 August Each Warrant 2001/2007 carries the entitlement to subscribe for one new ordinary share of RM1.00 in the Company at an exercise price of RM3.75 each, which is subject to adjustment in accordance with the provisions in the Deed Poll.Any Warrants 2001/2007 which have not been exercised at the date of maturity will lapse and cease to be valid for any purpose. The shares arising from the exercise of Warrants 2001/2007 shall rank pari passu in all respects with the ordinary shares of the Company except that they shall not be entitled to any rights, dividends or other distributions unless the exercise of Warrants 2001/2007 was effected before the book closure of the share registers for the determination of the entitlement to such rights or distributions. As at the balance sheet date, the total number of Warrants 2001/2007 which remain unexercised amounted to 166,297,668 units. At the date of this report, none of the Warrants 1996/2006 and Warrants 2001/2007 were converted into ordinary shares subsequent to the end of the financial year. EMPLOYEES SHARE OPTION SCHEME The Gamuda Berhad Second Employees Share Option Scheme ( ESOS ) was approved by shareholders at the Extraordinary General Meeting held on 31 October 2000 and became effective on 26 December 2000 upon final approval by the Securities Commission. Pursuant to the ESOS, options to subscribe for 28,205,000 new ordinary shares of RM1.00 each were granted to eligible employees. The principal features of the ESOS are as disclosed in Note 18 (b) to the financial statements.

6 DIRECTORS REPORT CURRENT ASSETS Before the income statements and balance sheets were made out, the directors took reasonable steps to ensure that any current assets which were unlikely to be realised in the ordinary course of business including their values as shown in the accounting records of the Group and the Company have been written down to an amount which they might be expected so to realise. At the date of this report, the directors are not aware of any circumstances which would render the values attributed to the current assets in the financial statements of the Group and the Company misleading. VALUATION METHODS At the date of this report, the directors are not aware of any circumstances which have arisen which render adherence to the existing methods of valuation of assets or liabilities of the Group and the Company misleading or inappropriate. 63 CONTINGENT AND OTHER LIABILITIES At the date of this report, there does not exist: (a) any charge on the assets of the Group and the Company which has arisen since the end of the financial year which secures the liabilities of any other person; or (b) any contingent liability of the Group and the Company which has arisen since the end of the financial year. No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which, in the opinion of the directors, will or may substantially affect the ability of the Group and the Company to meet their obligations when they fall due. CHANGE OF CIRCUMSTANCES At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or the financial statements of the Group and the Company which would render any amount stated in the financial statements misleading. ITEMS OF AN UNUSUAL NATURE The results of the operations of the Group and the Company during the financial year were not, in the opinion of the directors, substantially affected by any item, transaction or event of a material and unusual nature. There has not arisen in the interval between the end of the financial year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the directors, to affect substantially the results of the operations of the Group or the Company for the financial year in which this report is made. SIGNIFICANT EVENTS The significant events during the financial year are as disclosed in Note 31 to the financial statements. SUBSEQUENT EVENTS The subsequent events are as disclosed in Note 32 to the financial statements.

7 DIRECTORS REPORT EMPLOYEES SHARE OPTION SCHEME (cont d) The movement in the options and the option price were as follows: Balance Exercised from unissued 1 August 2001 as at to the date Option Price Granted Retracted* Accepted Exercised 31 July 2001 of this report RM ,532, ,000 19,874, ,000 19,720, ,000 RM3.45 7,673,000 7,673,000 10,000 7,663,000 94, * due to resignations or offer not taken-up SHARE CAPITAL During the financial year, the Company increased its (a) authorised share capital from RM1 billion to RM2 billion through the creation of 1 billion ordinary shares of RM1.00 each; and (b) issued and paid-up share capital from RM665,191,000 to RM665,355,000 via issuance of 164,000 new ordinary shares of RM1.00 each pursuant to the exercise of ESOS. DIRECTORS The directors who served since the date of the last report are: Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Y Bhg Dato Lin Yun Ling Y A M Raja Dato Seri Eleena Azlan Shah Ng Kee Leen Goon Heng Wah Y Bhg Dato Kamarul Zaman bin Mohd Ali Ha Tiing Tai Wong Chin Yen Saw Wah Theng Azmi Mat Nor Chow Chee Wah Y Bhg Datuk Ab Rahman bin Omar (appointed on 22 October 2001) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi (appointed on 22 October 2001) Y M Raja Dato Seri Abdul Aziz bin Raja Salim (appointed on 22 October 2001) Chan Kuan Chan Yong Foo (resigned on 1 August 2001) Heng Teng Kuang (resigned on 1 August 2001) (appointed as alternate to Heng Teng Kuang on 22 December 2000, ceased as alternate to Heng Teng Kuang on 1 August 2001 and appointed as director on 24 September 2001) (appointed as alternate to Chan Kuan Chan Yong Foo on 22 December 2000, ceased as alternate to Chan Kuan Chan Yong Foo on 1 August 2001 and appointed as alternate to Y Bhg Dato Lin Yun Ling on 24 September 2001) In accordance with the Company s Articles of Association,Y A M Raja Dato Seri Eleena Azlan Shah, Ng Kee Leen, Saw Wah Theng, Azmi Mat Nor, Y Bhg Datuk Ab Rahman bin Omar, Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi and Y M Raja Dato Seri Abdul Aziz bin Raja Salim retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.

8 DIRECTORS REPORT DIRECTORS (cont d) Y Bhg Dato Lin Yun Ling retires at the forthcoming Annual General Meeting in compliance with the Listing Requirements of the Kuala Lumpur Stock Exchange and being eligible, offers himself for re-election. The Composition of the Audit Committee, Nomination Committee and Remuneration Committee are as follows: 66 Audit Committee Y M Raja Dato Seri Abdul Aziz bin Raja Salim (Chairman) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Ng Kee Leen Wong Chin Yen Nomination Committee Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim (Chairman) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Wong Chin Yen Remuneration Committee Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim (Chairman) Y Bhg Dato Lin Yun Ling Y M Raja Dato Seri Abdul Aziz bin Raja Salim DIRECTORS BENEFITS During and at the end of the financial year, no arrangements subsisted to which the Company is a party with the object of enabling directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate, other than the share options granted pursuant to the Company s ESOS. Since the end of the previous financial year, no director has received or become entitled to receive a benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by the directors as shown in Note 22 to the financial statements or the fixed salary of a full time employee of the Company) by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member, or with a company in which he has a substantial financial interest. DIRECTORS INTERESTS According to the register of directors shareholdings, the interests of directors in office at the end of the financial year in shares, warrants and options in the Company and its related corporations during the financial year were as follows: Number of Ordinary Shares of RM1 Each 1 August 2000/ date of 31 July appointment Sold 2001 Gamuda Berhad Direct Holding Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 825, ,828 Y Bhg Dato Lin Yun Ling 56,848,818 56,848,818 Ng Kee Leen 14,516,114 14,516,114 Goon Heng Wah 11,471,158 11,471,158 Y Bhg Dato Kamarul Zaman bin Mohd Ali 1,498, ,000 1,218,000 Ha Tiing Tai 13,447, ,000 13,207,938 Saw Wah Theng 540, , ,000 Azmi Mat Nor 10,000 10,000

9 DIRECTORS REPORT DIRECTORS INTERESTS (cont d) Number of Ordinary Shares of RM1 Each 1 August 2000/ date of 31 July appointment Sold 2001 Gamuda Berhad Direct Holding (cont d) Chow Chee Wah 149, ,000 2,000 Chan Kuan Chan Yong Foo 18,178,462 2,620,000 15,558,462 Heng Teng Kuang 14,674,794 14,674, Indirect Holding Y A M Raja Dato Seri Eleena Azlan Shah* 92,486,928 92,486,928 * Deemed interest through Generasi Setia (M) Sdn Bhd Employees Share Option Scheme Number of Options 1 August 2000/ Allotted on date of 26 December 31 July appointment 2000 Exercised 2001 Y Bhg Dato Lin Yun Ling 500, ,000 Ng Kee Leen 500, ,000 Goon Heng Wah 500, ,000 Y Bhg Dato Kamarul Zaman bin Mohd Ali 500, ,000 Ha Tiing Tai 500, ,000 Saw Wah Theng 500, ,000 Chow Chee Wah 450, ,000 Chan Kuan Chan Yong Foo 500, ,000 Heng Teng Kuang 500, ,000 Warrants 1996/2006 Number of Warrants 1 August 2000/ date of 31 July appointment Sold 2001 Direct Holding Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 110, ,110 Y Bhg Dato Lin Yun Ling 8,053,442 8,053,442 Ng Kee Leen 2,288,000 2,288,000 Goon Heng Wah 1,788,158 1,788,158 Y Bhg Dato Kamarul Zaman bin Mohd Ali 172, ,000 Ha Tiing Tai 1,704,000 1,704,000 Chan Kuan Chan Yong Foo 3,957,332 3,957,332 Heng Teng Kuang 3,553,076 3,553,076 Indirect Holding Y A M Raja Dato Seri Eleena Azlan Shah* 13,724,000 13,724,000 * Deemed interest through Generasi Setia (M) Sdn Bhd Each warrant entitles the registered holder to subscribe for one new share in the Company at any time within ten years following the date of issue on 30 December 1996.

10 DIRECTORS REPORT DIRECTORS INTERESTS (cont d) Warrants 2001/2007 Number of Warrants 1 August 2000/ Allotted on date of 22 February 31 July appointment 2001 Sold Direct Holding Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 206, ,457 Y Bhg Dato Lin Yun Ling 12,240,551 12,240,551 Ng Kee Leen 4,308,335 4,308,335 Goon Heng Wah 2,996,000 2,996,000 Ha Tiing Tai 3,477,000 3,477,000 Y Bhg Dato Kamarul Zaman bin Mohd Ali 351,500 20, ,500 Saw Wah Theng 96,000 96,000 Chan Kuan Chan Yong Foo 4,433,000 4,433,000 Heng Teng Kuang 3,670,000 3,670,000 Indirect Holding Y A M Raja Dato Seri Eleena Azlan Shah* 23,122,000 23,122,000 * Deemed interest through Generasi Setia (M) Sdn Bhd Each warrant entitles the registered holder to subscribe for one new share in the Company at any time within six and a half years following the date of issue on 22 February At the end of the financial year,wong Chin Yen did not have any interest in shares, warrants and options in the Company or its related corporations during the financial year. NUMBER OF EMPLOYEES AND REGISTERED OFFICE The number of employees in the Group and the Company at the end of the year were 1,232 (2000: 1,289) and 121 (2000: 482) respectively. During the year, the Company transferred 307 staff to a subsidiary company in the Group. The Company is a public limited liability company, incorporated and domiciled in Malaysia, and is listed on the Main Board of the Kuala Lumpur Stock Exchange. The registered office of the Company is located at 55-61, Jalan SS22/23, Damansara Jaya, Petaling Jaya. AUDITORS Arthur Andersen & Co. retire and have indicated their willingness to accept re-appointment. Signed on behalf of the Board in accordance with a resolution of the directors Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Chairman Saw Wah Theng Finance Director Petaling Jaya Dated: 8 November 2001

11 STATEMENT BY DIRECTORS We,Y BHG TAN SRI DATO IR TALHA BIN HAJI MOHD HASHIM and SAW WAH THENG, being two of the directors of GAMUDA BERHAD, do hereby state that, in the opinion of the directors, the financial statements set out on pages 71 to 110 give a true and fair view of the state of affairs of the Group and the Company as at 31 July 2001 and of their results and their cash flows for the year then ended, and have been properly drawn up in accordance with the provisions of the Companies Act, 1965 and applicable approved accounting standards in Malaysia. Signed on behalf of the Board in accordance with a resolution of the directors Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 69 Saw Wah Theng Petaling Jaya 8 November 2001 STATUTORY DECLARATION I, SAW WAH THENG, the director primarily responsible for the financial management of GAMUDA BERHAD, do solemnly and sincerely declare that the financial statements set out on pages 71 to 110 are, to the best of my knowledge and belief, correct, and I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act, Subscribed and solemnly declared by the ) abovenamed SAW WAH THENG ) at Kuala Lumpur in Wilayah Persekutuan ) on 8 November 2001 ) Saw Wah Theng Before me: Mohd Radzi bin Yasin (W327) Commissioner for Oaths

12 AUDITORS REPORT To the Shareholders of GAMUDA BERHAD We have audited the financial statements set out on pages 71 to 110. These financial statements are the responsibility of the Company s directors. Our responsibility is to express an opinion on these financial statements based on our audit. 70 We conducted our audit in accordance with approved Standards on Auditing in Malaysia. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the directors, as well as evaluating the overall financial statement presentation.we believe that our audit provides a reasonable basis for our opinion. In our opinion: (a) the financial statements have been prepared in accordance with the provisions of the Companies Act, 1965 and applicable approved accounting standards in Malaysia and give a true and fair view of: (i) the state of affairs of the Group and the Company as at 31 July 2001 and of their results and their cash flows for the year then ended; and (ii) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements; and (b) the accounting and other records and the registers required by the Act to be kept by the Company have been properly kept in accordance with the provisions of the Act. We are satisfied that the financial statements of the subsidiaries that have been consolidated with the financial statements of the Company are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial statements and we have received satisfactory information and explanations required by us for those purposes. The auditors reports on the financial statements of the subsidiaries were not subject to any qualification and, in respect of subsidiaries incorporated in Malaysia, did not include any comment made under subsection (3) of Section 174 of the Act. Arthur Andersen & Co. No.AF 0103 Public Accountants Abraham Verghese a/l T V Abraham No. 1664/10/02(J) Partner of the Firm Dated: 8 November 2001

13 CONSOLIDATED BALANCE SHEET 31 July Note RM 000 RM 000 Current Assets Cash and bank balances 7,747 3,874 Deposits 3 352, ,204 Receivables 4 550, ,235 Inventories 6 15,611 15,347 Development properties 7 362,316 99,967 Amount due from customers for construction contracts 8 73,530 35, ,361, ,963 Current Liabilities Bank borrowings 9 8,915 10,691 Bonds 19 (a) 115,000 Payables ,008 93,208 Amount due to customers for construction contracts 8 82,077 30,243 Taxation 8,853 25,901 Proposed dividend 19,281 26, , ,770 Net Current Assets 651, ,193 Other Investments 12 3,440 3,975 Associated Companies , ,484 Property, Plant and Equipment , ,005 Net Goodwill Arising on Consolidation 16 3,033 5,211 Concession Rights 17 70,000 1,728,089 1,218,868 Financed by: Share Capital , ,191 Reserves 550, ,424 1,216,015 1,072,615 Minority Interests 3,351 18,490 Long Term Liabilities , ,763 1,728,089 1,218,868 The accompanying notes are an integral part of this balance sheet.

14 CONSOLIDATED INCOME STATEMENT for the year ended 31 July Note RM 000 RM Revenue , ,488 Other operating income 21 8,134 8,527 Changes in stock of finished goods and work in progress 1,170 (13,627) Purchases raw material and consumables (20,184) (29,530) trading material (14,805) (79) Construction contract costs recognised as contract expenses 8 (604,544) (419,098) Production overheads (2,216) (2,346) Land and development cost (4,420) Staff costs 22 (25,015) (24,864) Depreciation (9,171) (10,410) Other operating expenses 23 (15,340) (24,697) Profit from operations 144, ,364 Finance costs 24 (15,125) (6,045) Interest income 14,276 11,363 Share of profit of associated companies 131,992 79,380 Profit before taxation 276, ,062 Taxation 25 (44,505) (34,706) Share of taxation of associated companies (35,345) (22,615) Profit after taxation 196, ,741 Minority interests (4,477) (1,926) Net profit for the year 191, ,815 Earnings per share 27 Basic earnings per share 29 sen 23 sen Fully diluted earnings per share 28 sen 22 sen The accompanying notes are an integral part of this statement.

15 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the year ended 31 July 2001 Share Share Retained capital premium * profits ** Total RM 000 RM 000 RM 000 RM 000 At 1 August , , , ,779 Conversion of warrants 19,023 47,625 66,648 Exercise of ESOS 28,150 72, ,723 Allotment of bonus shares 322, ,214 Conversion for bonus issue (270,992) (51,222) (322,214) Net profit for the year 146, ,815 Dividends (Note 26) (53,350) (53,350) 73 At 31 July ,191 39, ,385 1,072,615 Exercise of ESOS Capital raising related expenses (3,182) (3,182) Share application monies Net profit for the year 191, ,708 Dividends (Note 26) (45,774) (45,774) At 31 July ,389 36, ,319 1,216,015 * Non-distributable ** Distributable The accompanying notes are an integral part of this statement.

16 CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July RM 000 RM 000 Cash Flows from Operating Activities 74 Profit before taxation 276, ,062 Adjustments for: Attributable profits on development properties (1,396) Attributable profits on construction contracts (146,912) (159,311) Depreciation 9,171 10,410 Property, plant and equipment written off Unrealised loss/(gain) on foreign exchange 20 (17) Net provision for retirement benefits Provision for diminution in value of investment 535 Provision for doubtful debts Writeback of provision for diminution in value of investment (57) Gain on disposal of property, plant and equipment (799) (875) Inventories written off Share of associated companies profits (131,992) (79,380) Net goodwill on consolidation amortised Amortisation of goodwill on an associated company 2,313 Interest income (14,276) (11,363) Interest expense 15,125 6,045 Operating profit/(loss)before working capital changes 9,284 (27,097) Decrease/(increase) in working capital: Inventories (436) (10,196) Receivables (369,672) 92,160 Development properties (119,457) (99,967) Net amount due from customers for construction contracts 165, ,541 Payables 332,231 24,298 Short term borrowings 1, Cash generated from operations 19, ,634 Dividend received from associated companies 12,968 3,031 Income taxes paid (59,964) (18,382) Interest paid (18,084) (13,081) Retirement benefits paid (144) Net cash (used in)/generated from operating activities (45,941) 92,058

17 CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 July RM 000 RM 000 Cash Flows from Investing Activities Proceeds from disposal of investments 35 Purchases of property, plant and equipment (14,475) (24,979) Proceeds from sale of property, plant and equipment 1,732 1,682 Investment in associated companies (19,465) (175,129) Acquisition of subsidiary net of cash acquired (Note 13) (69,816) Payment to minority shareholders for the acquisition of subsidiary (18,400) Interest received 14,276 11, Net cash used in investing activities (106,148) (187,028) Cash Flows from Financing Activities Proceeds from conversion of warrants 66,550 Proceeds from ESOS and share application monies ,721 Proceeds from issuance of bonds and warrants 400,000 Repayment of bonds (75,000) Capital raising related expenses (3,182) Dividend paid to shareholders (53,219) (44,450) Dividend paid to minority shareholders (193) (66) Net cash generated from financing activities 344,054 47,755 Net increase/(decrease) in cash and cash equivalents 191,965 (47,215) Cash and cash equivalents at 1 August 2000/ , ,806 Cash and cash equivalents at 31 July 359, ,591 Cash and cash equivalents comprise: Cash and bank balances 7,747 3,874 Fixed deposits 352, ,204 Bank overdrafts (308) (3,487) 359, ,591 The accompanying notes are an integral part of this statement.

18 BALANCE SHEET 31 July Note RM 000 RM 000 Current Assets 76 Cash and bank balances 556 1,738 Deposits 3 58, ,190 Receivables 4 362, ,405 Due from subsidiaries 5 313, ,110 Inventories 6 1,099 1,012 Amount due from customers for construction contracts 8 2,376 3,009 Current Liabilities 738, ,464 Bonds 19 (a) 115,000 Payables 10 45,398 59,139 Due to subsidiaries 11 57,750 22,840 Amount due to customers for construction contracts 8 34,497 26,985 Taxation 2,889 21,038 Proposed dividend 19,281 26, , ,729 Net Current Assets 463, ,735 Other Investments Subsidiaries ,140 69,540 Associated Companies , ,965 Property, Plant and Equipment 15 59,492 61,344 Financed by: 1,313,388 1,004,302 Share Capital , ,191 Reserves 237, , , ,034 Long Term Liabilities , ,268 1,313,388 1,004,302 The accompanying notes are an integral part of this balance sheet.

19 INCOME STATEMENT for the year ended 31 July Note RM 000 RM 000 Revenue , ,397 Other operating income 21 20,853 10,788 Changes in stock of finished goods 87 1,012 Construction contract costs recognised as contract expenses 8 (241,921) (456,632) Staff costs 22 (13,309) (13,232) Depreciation (4,338) (2,527) Other operating expenses 23 (2,150) (5,516) 77 Profit from operations 103, ,290 Finance costs 24 (14,628) (5,645) Interest income 7,568 9,226 Profit before taxation 96, ,871 Taxation 25 (24,539) (29,539) Net profit for the year 72,399 85,332 The accompanying notes are an integral part of this statement.

20 STATEMENT OF CHANGES IN EQUITY for the year ended 31 July 2001 Share Share Retained capital premium * profits ** Total RM 000 RM 000 RM 000 RM At 1 August , , , ,681 Conversion of warrants 19,023 47,625 66,648 Exercise of ESOS 28,150 72, ,723 Allotment of bonus shares 322, ,214 Conversion for bonus issue (270,992) (51,222) (322,214) Net profit for the year 85,332 85,332 Dividends (Note 26) (53,350) (53,350) At 31 July ,191 39, , ,034 Exercise of ESOS Capital raising related expenses (3,182) (3,182) Share application monies Net profit for the year 72,399 72,399 Dividends (Note 26) (45,774) (45,774) At 31 July ,389 36, , ,125 * Non-distributable ** Distributable The accompanying notes are an integral part of this statement.

21 CASH FLOW STATEMENT for the year ended 31 July RM 000 RM 000 Cash Flows from Operating Activities Profit before taxation 96, ,871 Adjustments for: Attributable profits on construction contracts (102,942) (121,777) Depreciation 4,338 2,527 Property, plant and equipment written off Net write back of provision for retirement benefits (5) Gain on disposal of property, plant and equipment (690) (508) Interest income (7,568) (9,226) Dividend income (14,218) (4,573) Interest expense 14,628 5, Operating loss before working capital changes (9,474) (12,891) Inventories (87) (1,012) Receivables (213,507) 93,741 Due from subsidiaries (126,761) (131,944) Net amount due from/(to) customers for construction contracts 118, ,012 Payables (17,818) 4,929 Due to subsidiaries 34, Cash (used in)/generated from operations (214,400) 85,452 Income taxes paid (42,688) (11,986) Interest paid (17,587) (11,290) Retirement benefits paid (144) Net cash (used in)/generated from operating activities (274,675) 62,032 Cash Flows from Investing Activities Purchase of other investments (35) Purchases of property, plant and equipment (3,011) (7,166) Proceeds from sale of property, plant and equipment 956 1,464 Investment in subsidiaries (111,600) (4,040) Investment in associated companies (19,465) (175,129) Interest received 7,284 9,197 Dividend received 13,178 3,293 Net cash used in investing activities (112,658) (172,416)

22 CASH FLOW STATEMENT for the year ended 31 July RM 000 RM 000 Cash Flows from Financing Activities 80 Proceeds from conversion of warrants 66,550 Proceeds from ESOS and share application monies ,721 Dividend paid to shareholders (53,219) (44,450) Proceeds from issuance of bonds and warrants 400,000 Capital raising related expenses (3,182) Repayment of bonds (75,000) Net cash generated from financing activities 344,247 47,821 Net decrease in cash and cash equivalents (43,086) (62,563) Cash and cash equivalents at 1 August 2000/ , ,491 Cash and cash equivalents at 31 July 58, ,928 Cash and cash equivalents comprise: Cash and bank balances 556 1,738 Fixed deposits 58, ,190 58, ,928 The accompanying notes are an integral part of this statement.

23 NOTES TO THE FINANCIAL STATEMENTS 31 July PRINCIPAL ACTIVITIES The principal activities of the Company are that of investment holding and civil engineering construction. The principal activities of the subsidiaries are described in Note 13. There were no significant changes in these activities during the financial year except for the activities of the new subsidiaries. 2 SIGNIFICANT ACCOUNTING POLICIES 81 (a) Basis of Accounting The financial statements of the Group and the Company are prepared under the historical cost convention unless otherwise indicated in the accounting policies below and comply with the provisions of the Companies Act, 1965 and applicable approved accounting standards in Malaysia. (b) Basis of Consolidation The consolidated financial statements include the financial statements of the Company and all its subsidiaries made up to the end of the financial year. Subsidiaries are those companies which the Group has power to exercise control over the financial and operating policies so as to obtain benefits therefrom. A joint venture is deemed to be a subsidiary when the Group has power to exercise control over the financial and operating policies so as to obtain benefits therefrom. Companies acquired or disposed during the year are included in the consolidated financial statements from the date of acquisition to the date of disposal. Intragroup transactions are eliminated on consolidation and the consolidated financial statements reflect external transactions only. Unrealised losses are eliminated on consolidation unless cost cannot be recovered. The difference of the purchase price over the fair value of the net assets of subsidiaries at the date of acquisition is included in the consolidated balance sheet as goodwill or reserve arising on consolidation. Goodwill arising on consolidation is amortised over its estimated useful economic life. Goodwill on consolidation is reviewed at each balance sheet date and will be written down for impairment where it is considered necessary. (c) Currency Conversion and Translation Transactions in foreign currencies are converted into Ringgit Malaysia at rates of exchange ruling at the transaction dates. Monetary assets and liabilities in foreign currencies at the balance sheet date are translated into Ringgit Malaysia at rates of exchange ruling at that date.all exchange differences are taken to the income statements. Financial statements of foreign consolidated subsidiaries are translated at year-end exchange rates with respect to the balance sheet, and at exchange rates at the dates of the transactions with respect to income statement. All resulting translation differences are taken to reserves. The principal exchange rates for every unit of foreign currency ruling at balance sheet date used are as follows: RM RM United States Dollar Singapore Dollar

24 NOTES TO THE FINANCIAL STATEMENTS 31 July SIGNIFICANT ACCOUNTING POLICIES (cont d) (d) Property, Plant and Equipment and Depreciation Property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment loss. 82 The carrying amounts of property, plant and equipment are reviewed at each balance sheet date to determine whether there is any indication of impairment. If such an indication exists, the property, plant and equipment s recoverable amount is estimated. An impairment loss is recognised whenever the carrying amount of an item of property, plant and equipment exceeds its recoverable amount. The impairment loss is charged to the income statement unless it reverses a previous revaluation in which case it will be charged to equity. Any subsequent increase in recoverable amount is reduced by the amount that would have been recognised as depreciation had the write-off not occurred. Freehold land and construction in progress are not depreciated. Leasehold land is depreciated over the period of the lease. Depreciation of other property, plant and equipment is provided on a straight line basis to write off the cost or valuation of each property, plant and equipment to their residual value over their estimated useful lives at the following annual rates: Long term leasehold land Over a period of 60 years Short term leasehold land and buildings thereon Over periods of 30 to 50 years Buildings and improvements 2% Plant, machinery and office equipment 12% 33% Furniture and fittings 10% 15% Motor vehicles 12% 25% Freehold land, long term and short term leasehold land and buildings of the Group and the Company have not been revalued since they were first revalued in 1991.The directors have not adopted a policy of regular revaluation of such assets. As permitted under the transitional provisions of Malaysian Accounting Standards Board (MASB) No 15: Property, Plant and Equipment, these assets continue to be stated at their 1991 valuation less accumulated depreciation. (e) Inventories Inventories are stated at the lower of cost (determined on weighted average cost basis) and net realisable value. Cost of finished goods and work-in-progress includes direct materials, direct labour and appropriate production overheads. (f) Retirement Benefits Contributions are made to the Company s Retirement Benefit Scheme, a defined benefit plan. The cost of retirement benefits under this Scheme is determined based on accrued benefit valuation method. Current service costs, past service costs and experience adjustments in respect of the Company s Retirement Benefit Scheme are dealt with through the income statement systematically over the expected remaining service lives of members. The Company has done its own computation to determine the provision needed in respect of the scheme and an actuarial valuation has not been carried out.the directors of the Company are of the opinion that the effect of such provision in the financial statements is not material and as such does not justify the cost of the engagement of an actuary.

25 NOTES TO THE FINANCIAL STATEMENTS 31 July SIGNIFICANT ACCOUNTING POLICIES (cont d) (g) Revenue Recognition (i) (ii) Revenue from construction contracts and sale of development properties are accounted for based on the percentage of completion method. The percentage of completion is determined by reference to the costs incurred to date to the total estimated costs where the outcome of the projects can be reliably estimated. Full provision is made for foreseeable losses. The percentage of completion is measured by reference to the certified work done to date. Revenue relating to sale of goods and services is recognised net of sales taxes and discounts when delivery has taken place and transfer of risks and rewards have been completed. 83 (h) Receivables Receivables are carried at anticipated realisable value. Bad debts are written off when identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the financial year end. (i) Amount Due From / To Customers For Construction Contract Amount due from customers for construction contract is the net amount of costs incurred plus recognised profits less the sum of recognised losses and progress billing for all contracts in progress which costs incurred plus recognised profits (less recognised losses) exceeds progress billings. Amount due to customers for construction contract is the net amount of costs incurred plus recognised profits less the sum of recognised losses and progress billings for all contracts in progress for which progress billings exceeds costs incurred plus recognised profits (less recognised losses). Cost includes direct materials, labour, sub-contract sum and attributable overheads paid or payable to date. (j) Deferred Taxation Deferred taxation is provided under the liability method for all material timing differences except where there is reasonable evidence that these timing differences will not reverse in the foreseeable future. (k) Investments Investments in subsidiaries and other investments are stated at cost less provision for any permanent diminution in value. On disposal of investment, the difference between net disposal proceeds and its carrying amount is charged or credited to income statement. (l) Development Properties Land and development expenditure whereby significant development work has been undertaken and is expected to be completed within the normal operating cycle are classified as development properties. Development properties are stated at cost plus profits less losses and applicable progress billings. Cost includes cost of land, all direct building cost and other related development expenditure, including interest expenses incurred during the period of active development. (m) Cash and Cash Equivalents Cash and cash equivalents include cash in hand and at banks and deposits at call net of outstanding bank overdrafts.

26 NOTES TO THE FINANCIAL STATEMENTS 31 July SIGNIFICANT ACCOUNTING POLICIES (cont d) (n) Investments in Associated Companies The Group treats as associated companies those companies in which a long term equity interest of between 20 to 50 percent is held and where it exercises significant influence over the financial and operating policies. 84 Investments in associated companies are accounted for in consolidated financial statements by the equity method of accounting based on management financial statements of the associated companies. Investments in redeemable preferences shares in associated companies are stated at cost less provision for any permanent diminution in value. Unrealised gains on transactions between the Group and the associated companies are eliminated to the extent of the Group s interest in the associated companies; unrealised losses are eliminated unless cost cannot be recovered. The Group s share of post acquisition profits less losses of associated companies is included in the consolidated income statement and the Group s interest in associated companies is stated at cost plus the Group s share of postacquisition retained profits and reserves. Goodwill arising from acquisition of associated companies is amortised over its estimated useful economic life, subject to annual reviews for permanent diminution in the carrying value. (o) Concession Rights Concession rights are attributable costs incurred which are related to arrangement whereby the Group is able to obtain economical benefits over future years. The concession rights is amortised over its estimated useful economic life, subject to annual reviews for permanent diminution in the carrying value. (p) Joint Ventures This includes all joint ventures entered into by the Company that are treated as jointly controlled operations with percentage of share of profits or losses of 70%. The share of profits or losses of the joint ventures are incorporated in the Company financial statements based on the percentage share of profit or losses of each joint venture. 3 DEPOSITS Group Company RM 000 RM 000 RM 000 RM 000 Deposits with licensed banks 335, ,384 57,136 64,370 Deposits with discount houses 16,350 35,820 1,150 35, , ,204 58, ,190

27 NOTES TO THE FINANCIAL STATEMENTS 31 July RECEIVABLES Group Company RM 000 RM 000 RM 000 RM 000 Trade receivables 380, , ,961 86,419 Retention sums 13,881 20,786 13,881 20,786 Trade receivables due from associated companies 98,414 Other receivables 43,819 44,693 19,860 40,367 Dividends receivable 16,833 16,833 16,833 16, , , , ,405 Provision for doubtful debts (2,994) (3,722) (2,000) (2,000) 550, , , ,405 Included in trade receivables of the Group and the Company are amount due from joint ventures of RM349,788,000 (2000: RM74,537,000) and RM312,235,000 (2000: RM74,537,000) respectively. Included in other receivables of the Group and Company are amount due from an associated company of RM15,000,000 (2000: RM14,700,000) in respect of subscription for redeemable preference shares. 5 DUE FROM SUBSIDIARIES Included in amount due from subsidiaries is amount due from an unincorporated joint venture subsidiary of RM38,945,000. The Company s share in the unincorporated subsidiary s assets and liabilities is as follows: RM 000 RM 000 Current assets 262,360 Non-current assets 231 Current liabilities (231,137) Non-current liabilities (24,500) Net assets 6,954 Working capital injection 31,991 38,945 Included in the amount due from subsidiaries are advances given to a subsidiary together with accrued interest of RM18,398,000 (2000: RM17,522,000) which are unsecured, bear interest at rate of 2.5% (2000: 2.5%) per annum and have no fixed terms of repayment. The remaining amounts due from subsidiaries are unsecured, interest free and have no fixed terms of repayment.

28 NOTES TO THE FINANCIAL STATEMENTS 31 July INVENTORIES Group Company RM 000 RM 000 RM 000 RM 000 At cost: 86 Raw materials 273 1,486 Work-in-progress 1, Finished goods 845 4,335 Crusher run and aggregates 805 Consumable stores and spares 1,099 1,012 1,099 1,012 4,623 7,169 1,099 1,012 At net realisable value: Raw materials 6,873 7,123 Work-in-progress 1,055 Finished goods 4,115 10,988 8,178 15,611 15,347 1,099 1,012 7 DEVELOPMENT PROPERTIES Group RM 000 RM 000 Freehold land, at cost 294,981 38,688 Leasehold land, at cost 60,656 60,656 Development expenditure 11, Attributable profits 1, ,131 99,967 Less: Progress billings received and receivable (5,815) 362,316 99,967 Included in development expenditure incurred during the year are: Depreciation 372 Staff costs 944 The freehold land with carrying value of RM255,839,000 are pledged to a licensed bank for bank guarantee granted to a subsidiary in respect of remaining purchase consideration for the land acquired by the subsidiary as referred to in Note 19(c).

29 NOTES TO THE FINANCIAL STATEMENTS 31 July AMOUNT DUE FROM/(TO) CUSTOMERS FOR CONSTRUCTION CONTRACTS Group Company RM 000 RM 000 RM 000 RM 000 Construction costs 2,966,698 2,669,226 2,310,277 2,412,056 Recognised profits less recognised losses 252, , , ,472 Progress billings received and receivable (3,228,072) (2,886,173) (2,542,232) (2,650,504) Represented by: (8,547) 5,093 (32,121) (23,976) 87 Due from customers for construction contracts 73,530 35,336 2,376 3,009 Due to customers for construction contracts (82,077) (30,243) (34,497) (26,985) (8,547) 5,093 (32,121) (23,976) Included in the amount due from/(to) customers for construction contracts are: Construction contract costs incurred during the year 1,147, , , ,997 Construction contract costs recognised as contract expenses during the year 604, , , ,632 Included in construction contract costs incurred during the year are: Depreciation 7,368 5, ,180 Interest expense 7,036 7,036 7,036 5,645 Staff costs 19,184 15,032 5,443 11,210 Rental of equipment 19,954 14,610 1,250 8,205 Rental of premises 66 9 BANK BORROWINGS Group RM 000 RM 000 Bank overdrafts 308 3,487 Bankers acceptance 8,607 7,204 8,915 10,691 The bank borrowings are secured against certain assets of the Group and bear interest of between 3.90% to 8.30% (2000: 3.95% to 8.50%) per annum.

30 NOTES TO THE FINANCIAL STATEMENTS 31 July PAYABLES Group Company RM 000 RM 000 RM 000 RM 000 Trade payables 227,946 47,814 15,547 24,371 Other payables 86,833 45,394 29,851 34,768 Due to an associated company 161, ,008 93,208 45,398 59,139 Included in trade payables of the Group and the Company are retention sums of RM40,285,000 (2000: RM7,612,000) and RM8,881,000 (2000: RM7,612,000) respectively. Included in other payables of the Group is an amount due within twelve months of RM47,041,000 as referred to in Note 19(c) in respect of remaining purchase considerations for the land acquired by its subsidiary. The amount due to an associated company is in respect of advances for construction contract and the amount is unsecured, interest free and repayable through progress billings by the Group. 11 DUE TO SUBSIDIARIES The amounts due to subsidiaries are unsecured, interest free and have no fixed terms of repayment. 12 OTHER INVESTMENTS Group Company RM 000 RM 000 RM 000 RM 000 At cost Quoted shares, in Malaysia 3,703 3, Unquoted shares, in Malaysia Investment in transferable club memberships ,418 4, Provision for diminution in value of investment in quoted shares, in Malaysia (978) (443) 3,440 3, Market value Quoted shares, in Malaysia 2,972 3,

31 NOTES TO THE FINANCIAL STATEMENTS 31 July SUBSIDIARIES Company RM 000 RM 000 Unquoted shares, at cost 181,140 69,540 Details of the subsidiaries are as follows: Effective Interests Paid-up Principal Name of Company Capital % % Activities 89 Gammau Construction Sdn Bhd RM6,000, Civil engineering and earthwork construction Gamuda Engineering Sdn Bhd RM770, Civil engineering and building construction Gamuda Paper Industries Sdn Bhd RM18,000, Manufacture and sale of paper and paper related products Gamuda Trading Sdn Bhd RM109, Trading of construction material Gamuda Overseas Investment Ltd US$100, Investment holding Gamuda (India) Pte Ltd Rps.100, Dormant G.B. Kuari Sdn Bhd* RM750, Operation of quarry and road laying and manufacture of premix GPI Trading Sdn Bhd** RM Trading of paper and paper related products GKTJV*** 70 Civil engineering construction Ganaz Bina Sdn Bhd RM3,000, Civil engineering construction GIT Services Sdn Bhd RM100, Information technology services and trading Harum Intisari Sdn Bhd RM5,350, Property development Masterpave Sdn Bhd RM2,500, Manufacture, supply and laying of road surfacing materials

32 NOTES TO THE FINANCIAL STATEMENTS 31 July SUBSIDIARIES (cont d) Effective Interests Paid-up Principal Name of Company Capital % % Activities Megah Sewa Sdn Bhd RM100, Hire and rental of plant and machinery 90 Megah Capital Sdn Bhd RM Investment holding and trading Megah Management Services Sdn Bhd RM50, Insurance agent Reka Strategi Sdn Bhd RM Dormant Gamuda Water Sdn Bhd RM2,000, Operation and maintenance (formerly known as The Sweet Water of water treatment plants Management Sdn Bhd)**** Valencia Development Sdn Bhd RM300, Property development * 100% held by Ganaz Bina Sdn Bhd ** 100% held by Gamuda Paper Industries Sdn Bhd *** GKTJV is an unincorporated joint venture formed by Gamuda Berhad, Kumpulan Darul Ehsan Berhad and The Sweet Water Alliance Sdn Bhd under a contractual agreement. Pursuant to the Malaysian Accounting Standards Board, Standard No. 16, Financial Reporting of Interests in Joint Ventures, GKTJV is deemed to be the subsidiary of Gamuda Berhad by virtue of its power to govern the financial and operating policies of the economic activity of GKTJV. **** Gamuda Water Sdn Bhd ( GWSB ) is deemed to be a subsidiary of Gamuda Berhad by virtue of the substance that the Sale and Purchase Agreement between Gamuda Berhad and the vendor was concluded as at 31 July All the subsidiaries are incorporated in Malaysia except for the following: Name of Company Gamuda Overseas Investment Ltd Gamuda (India) Pte Ltd Country of incorporation British Virgin Islands India Acquisition of subsidiary: The effective date of acquisition for the 80% equity interest in GWSB was on 31 July 2001 for a cash consideration of RM71,600,000. Hence, there is no effect of the acquisition on the financial results of the Group for the year ended 31 July 2001.

33 NOTES TO THE FINANCIAL STATEMENTS 31 July SUBSIDIARIES (cont d) The fair value of the assets acquired and liabilities assumed from the acquisition of the subsidiary was as follows: 31 July 2001 RM 000 Net assets acquired: Trade and other receivables 220 Cash and bank balances 1,784 Trade and other payables (4) 91 Minority interests 2,000 (400) 1,600 Concession rights 70,000 Purchase consideration 71,600 Less: Cash and cash equivalents of subsidiary acquired (1,784) Net cash used for acquisition of subsidiary 69, ASSOCIATED COMPANIES Group Company RM 000 RM 000 RM 000 RM 000 Unquoted shares, at cost 122,685 89, ,685 89,685 Redeemable Preference Shares 306, , , ,425 Group s share of profits, net of dividends receivable 185, ,925 Represented by: Share of net assets 570, ,780 Goodwill net of amortisation 43,942 46, , , , , , ,035 Quoted shares, at cost 179, , , ,855 Group s share of profits, net of dividends receivable 85,513 52,594 Represented by: Share of net assets 264, , , , , , , , , ,965 Market value: Quoted shares, in Malaysia 726, , , ,803

34 NOTES TO THE FINANCIAL STATEMENTS 31 July ASSOCIATED COMPANIES (cont d) Kesas Holdings Bhd and Lingkaran Trans Kota Holdings Berhad adopted the accounting policy to capitalise interest incurred on borrowings for the construction of the Expressway already in use. The continued capitalisation of interest incurred for the construction of the Expressway already in use and deferral of post-construction interest represents a departure from the provisions of International Accounting Standard (IAS) 23, Capitalisation of Borrowing Costs. Had the provisions of IAS23 been complied with, the income statements and retained profits of the Group will be as follows: Group RM 000 RM 000 Income Statements: Net profit for the year as reported 191, ,815 Share of net interest capitalised during the year written off (35,054) (38,404) Net profit for the year as adjusted 156, ,411 Retained profits: Retained profits carried forward as reported 514, ,385 Share of interest equalisation account written off (140,477) (103,795) Retained profits carried forward as adjusted 373, ,590 The associated companies, all of which are incorporated in Malaysia, are as follows: Effective Interests Paid-up Capital Principal Name of Company RM % % Activities Dyna Plastics Sdn Bhd 44,907, Manufacturing and sale of Polymer Lithium ion batteries and related accessories Gabungan Cekap Sdn Bhd 160,000, Investment holding Hicom-Gamuda Development Sdn Bhd 6,053, Property development Kesas Holdings Bhd 470,914, Investment holding Lingkaran Trans Kota Holdings Berhad* 452,731, Investment holding and provision of management services Madang Permai Sdn Bhd 5,000, Concession holder of an Expressway Sistem Penyuraian Trafik KL Barat 9,055, Investment holding Holdings Sdn Bhd Sussen (Malaysia) Sdn Bhd 600, Manufacturing and trading of bitumen emulsion products * Quoted shares in Malaysia

35 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT Other property Land and Construction- plant and buildings * in-progress equipment ** Total Group RM 000 RM 000 RM 000 RM 000 Valuation/Cost At 1 August ,349 26, , ,164 Additions ,134 14,475 Disposals (7,658) (7,658) Write off (839) (839) 93 At 31 July ,349 26, , ,142 Accumulated Depreciation At 1 August ,866 97, ,159 Charge for the year ,166 16,911 Disposals (6,725) (6,725) Write off (159) (159) At 31 July , , ,186 Net Book Value At 31 July ,738 26,407 56, ,956 At 31 July ,483 26,066 60, ,005 Depreciation charge for ,452 16,139 * Land and buildings At Valuation Cost Freehold Long term Short term Short term Freehold land and leasehold land leasehold leasehold land and buildings and buildings land buildings buildings Total Group RM 000 RM 000 RM 000 RM 000 RM 000 RM 000 Valuation/Cost At 1 August ,192 3,171 14, ,486 44,349 Additions Reclassifications 448 (1,148) 700 At 31 July ,640 2,023 14, ,186 44,349

36 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT (cont d) At Valuation Cost Freehold Long term Short term Short term Freehold land and leasehold land leasehold leasehold land and buildings and buildings land buildings buildings Total Group RM 000 RM 000 RM 000 RM 000 RM 000 RM Accumulated Depreciation At 1 August , ,030 5,866 Reclassifications 172 (232) 60 Charge for the year At 31 July , ,306 6,611 Net Book Value At 31 July ,468 1,682 9, ,880 37,738 At 31 July ,192 2,649 10, ,456 38,483 Depreciation charge for ** Other property, plant and equipment At Cost Office, Plant, equipment, machinery Motor furniture and vehicles and fittings equipment Total Group RM 000 RM 000 RM 000 RM 000 At Cost At 1 August ,072 13, , ,749 Additions 2,569 2,891 8,674 14,134 Disposals (2,319) (112) (5,227) (7,658) Write off (49) (85) (705) (839) At 31 July ,273 16, , ,386 Accumulated Depreciation At 1 August ,270 9,816 68,207 97,293 Charge for the year 4,137 2,237 9,792 16,166 Disposals (1,755) (92) (4,878) (6,725) Write off (25) (73) (61) (159) At 31 July ,627 11,888 73, ,575

37 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT (cont d) ** Other property, plant and equipment At Cost Office, Plant, equipment, machinery Motor furniture and vehicles and fittings equipment Total Group RM 000 RM 000 RM 000 RM 000 Net Book Value 95 At 31 July ,646 4,285 37,880 56,811 At 31 July ,802 3,663 39,991 60,456 Depreciation charge for ,083 1,715 9,654 15,452 At Valuation Cost Other property, Land and Construction- plant and buildings ^ in-progress equipment ^^ Total Company RM 000 RM 000 RM 000 RM 000 Valuation/Cost At 1 August ,970 26,066 36,106 83,142 Additions 341 2,604 2,945 Transfer in Reclassifications 4,335 (4,505) 170 Transfer out (157) (157) Disposals (1,741) (1,741) Write off (156) (156) At 31 July ,305 21,902 36,892 84,099 Accumulated Depreciation At 1 August ,926 21,798 Charge for the year 167 4,385 4,552 Transfer out (112) (112) Disposals (1,520) (1,520) Write off (111) (111) At 31 July ,039 23,568 24,607 Net Book Value At 31 July ,266 21,902 13,324 59,492 At 31 July ,098 26,066 15,180 61,344 Depreciation charge for ,599 4,707

38 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT (cont d) ^ Land and buildings At Valuation Cost Freehold Long term Freehold land and leasehold land land and buildings and buildings building Total Company RM 000 RM 000 RM 000 RM Valuation/Cost At 1 August ,623 17,567 20,970 Reclassifications 860 (860) 4,335 4,335 At 31 July ,640 1,763 21,902 25,305 Accumulated Depreciation At 1 August Reclassifications 172 (172) Charge for the year At 31 July ,039 Net Book Value At 31 July ,468 1,462 21,336 24,266 At 31 July ,199 17,119 20,098 Depreciation charge for ^^ Other property, plant and equipment Office Plant, equipment, machinery Motor furniture and and vehicles fittings equipment Total Company RM 000 RM 000 RM 000 RM 000 Cost At 1 August ,714 9,599 3,793 36,106 Additions 1, ,604 Transfer in Reclassification Transfer out (103) (19) (35) (157) Disposals (1,694) (47) (1,741) Write off (49) (82) (25) (156) At 31 July ,578 10,581 3,733 36,892 Accumulated Depreciation At 1 August ,634 7,357 2,935 20,926 Charge for the year 3,127 1, ,385 Transfer out (67) (15) (30) (112) Disposals (1,478) (42) (1,520) Write off (25) (73) (13) (111) At 31 July ,191 8,236 3,141 23,568

39 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT (cont d) ^^ Other property, plant and equipment Office Plant, equipment, machinery Motor furniture and and vehicles fittings equipment Total Cost RM 000 RM 000 RM 000 RM 000 Net Book Value At 31 July ,387 2, , At 31 July ,080 2, ,180 Depreciation charge for ,980 1, ,599 (a) Details of independent professional valuation of land and buildings owned by the Group at 31 July 2001 are as follows: Long term and short term leasehold land and buildings Year of Description of Amount Basis of Leases valuation property RM 000 valuation expiring in 1991 Long term leasehold land and building at 260 Open 2078 Jalan Gopeng, Ipoh market value 1991 Long term leasehold land and building at 753 Open 2050 Jelapang, Ipoh market value 1991 Long term leasehold land and building at 462 Open 2043 Jelapang, Ipoh market value 1991 Short term leasehold land and building at 14,500 Open 2022 Kampar, District of Kinta market value Freehold land and buildings Year of Description of Amount Basis of valuation property RM 000 valuation 1991 Freehold land and building at 1,240 Open Petaling Jaya market value 1991 Freehold land and building at 400 Open Petaling Jaya market value (b) Certain property, plant and equipment of the Group with net book value of RM7,183,000 (2000: RM7,260,000) have been pledged to a financial institution for credit facilities granted to the Group. (c) Included in property, plant and equipment of the Group and the Company are fully depreciated property, plant and equipment which are still in use costing RM39,300,000 (2000: RM36,728,000) and RM10,639,000 (2000: RM13,925,000) respectively.

40 NOTES TO THE FINANCIAL STATEMENTS 31 July PROPERTY, PLANT AND EQUIPMENT (cont d) (d) Had the revalued property, plant and equipment been carried at historical cost less accumulated depreciation, the net book value of each class of property, plant and equipment that would have been included in the financial statements of the Group and the Company are as follows: Group Company RM 000 RM 000 RM 000 RM Freehold land 15,009 15,020 14,572 14,572 Long term leasehold land Buildings 2,487 2,547 2,487 2, NET GOODWILL ARISING ON CONSOLIDATION Group RM 000 RM 000 Goodwill arising on consolidation (a) 5,448 7,444 Reserve arising on consolidation (b) (1,787) (1,787) 3,661 5,657 Cumulative amortisation of goodwill (2,415) (2,233) Cumulative recognition of reserve 1,787 1,787 3,033 5,211 (a) The goodwill arising on consolidation is attributable to the acquisition of Ganaz Bina Sdn Bhd Group which comprised Ganaz Bina Sdn Bhd and its subsidiary, G.B. Kuari Sdn Bhd.The goodwill is amortised over a period of 30 years in line with the lease period of the quarry which is the principal asset of the Ganaz Bina Sdn Bhd Group. Acquisition of additional interest in G.B. Kuari Sdn Bhd during the year resulted in a reserve on consolidation of RM1,996,000 which is netted off with the existing goodwill. (b) The reserve arising on consolidation is attributable to the acquisition of Gammau Construction Sdn Bhd.The reserve is amortised to the income statements over a period of 8 years based on the approximate average economic useful life of major fixed assets acquired. 17 CONCESSION RIGHTS Group RM 000 RM 000 Concession rights 70,000 The concession rights is attributable to the acquisition of a subsidiary, Gamuda Water Sdn Bhd (formerly known as The Sweet Water Management Sdn Bhd). The subsidiary was granted the rights to operate and maintain the water treatment plants of Sungai Selangor Water Supply Scheme Phase 3 for a period of 30 years.the concession rights will be amortised on a systematic basis on commencement of related operations on each phase over the remaining concession period.

41 NOTES TO THE FINANCIAL STATEMENTS 31 July SHARE CAPITAL Group and Company Number of Ordinary Shares of RM1 each Amount RM 000 RM 000 Authorised: At 1 August 2000/1999 1,000,000 1,000,000 1,000,000 1,000,000 Created during the year 1,000,000 1,000, At 31 July 2,000,000 1,000,000 2,000,000 1,000,000 Issued and fully paid: At 1 August 2000/ , , , ,804 Conversion of warrants 19,023 19,023 Exercise of ESOS , ,150 One for one bonus 322, , , , , ,191 Share application monies 34 At 31 July 665, ,191 (a) The issued and paid-up share capital was increased via issuance of 164,000 new ordinary shares of RM1.00 each pursuant to the exercise of Employees Share Option Scheme. The new shares issued rank pari passu in all respects with the existing ordinary shares of the Company. (b) The principal features of the ESOS are as follows: (i) (ii) Eligible persons are full-time monthly paid employees and Executive Directors of the Group (including contract and non-malaysian employees with a minimum three years of contract of service) whose employment has been confirmed and have been in the employment of the Group for a continuous period of at least one year as at the date of offer.the selection of eligible person for participation in the ESOS shall be at the discretion of the Option Committee. The ESOS shall be in force for a period of 5 years from 26 December 2000 subject however to any extension or renewal for a further period of not exceeding 5 years commencing from the day after the date of expiration of the original 5 years period as may be approved by all relevant parties. (iii) The total number of shares to be offered shall not exceed 10% of the issued and paid-up share capital of the Company at any point of time during the duration of the ESOS. (iv) The subscription price under the ESOS shall be the weighted average market price of the shares as shown in the Daily Official List issued by the Kuala Lumpur Stock Exchange for the 5 market days immediately preceding the date of offer of the options subject to a discount of not more than ten per cent (10%), or at par value of the share, whichever is higher. (v) The aggregate number of shares to be offered to an eligible employee in accordance with the ESOS shall be determined at the discretion of the Option Committee after taking into consideration, amongst other factors, the position, performance, seniority and the length of service that the eligible employee has rendered and subject to the maximum allowable allotment of shares for each eligible employee.

42 NOTES TO THE FINANCIAL STATEMENTS 31 July SHARE CAPITAL (cont d) (vi) The number of shares under the ESOS remaining unexercised or the option price or both may be adjusted following any alteration in the capital structure of the Company during the option period, whether such alteration is by way of capitalisation of profits or reserves, right issues, consolidation of shares, sub-division of shares or reduction of capital or otherwise howsoever taking place, made by the Company. (vii) The options shall not carry any right to vote at any general meeting of the Company and a grantee shall not be entitled to any dividends, right or other entitlements on his unexercised options. 100 (viii) The options granted under the ESOS are not assignable. (ix) The new shares allotted upon any exercise of the option shall rank pari passu in all respects with the then existing issued and paid-up ordinary shares of the Company except that the new shares so issued will not rank for any dividends, rights, allotments and/or other distributions, the entitlement date (namely the date as at the close of business on which shareholders must be registered in order to be entitled to any dividends, rights, allotments or other distributions) of which is prior to the date of allotment of the new shares. (c) In the financial year ended 31 July 1997, the Company issued 38,351,903 Warrants 1996/2006 as described in Note 19(a)(i) to the financial statements. As at the balance sheet date, the total number of Warrants 1996/2006 which remain unexercised amounted to 76,650,642 (2000: 76,650,642) units after adjustment for the one for one bonus issue in the previous financial year. (d) During the financial year, the Company issued 166,297,668 Warrants 2001/2007 as described in Note 19(a)(ii) to the financial statements. As at the balance sheet date, the total number of Warrants 2001/2007 which remain unexercised amounted to 166,297,668 (2000: Nil) units. 19 LONG TERM LIABILITIES Group Company RM 000 RM 000 RM 000 RM 000 Bonds (a) 400, , , ,000 Deferred taxation (b) 9,575 7,986 6,272 6,272 Long term payable (c) 94,083 Provision for retirement benefits (d) 5,065 4,777 3,991 3, , , , ,268 Group and Company RM 000 RM 000 (a) Bonds Nominal amount of 4% Redeemable Unsecured Bonds 1996/ , ,000 Nominal amount of 3% Redeemable Unsecured Bonds 2000/ , , ,000 Amount due within 12 months (115,000) 400, ,000

43 NOTES TO THE FINANCIAL STATEMENTS 31 July LONG TERM LIABILITIES (cont d) The principal features of the bonds are as follows: (i) The RM115,000,000 nominal amount of 4% Redeemable Unsecured Bonds 1996/2001 were issued with 38,351,903 detachable warrants to a primary subscriber and subsequently resold to the shareholders on the basis of one warrant for every three existing ordinary shares held at an offer price of 58.4 sen per warrant. Each warrant entitles the registered holder to subscribe for one new share in the Company at any time on or before the expiry date at the end of five years following the date of issue on 30 December In 1999, the subscription period was extended for a further period of five years from 29 December 2001 to 29 December Each warrant 1996/2006 carries the entitlement to subscribe for one new ordinary share of RM1.00 each in the Company at an exercise price of RM4.21, which are subject to adjustment in accordance with the provision in the Deed Poll. 101 The bonds were issued at 100% of the nominal amount and carry a fixed coupon rate of 4% per annum payable annually in arrears.at the end of its tenure, the bonds will be redeemed at 100% nominal value together with interest accrued to the date of maturity on 29 December (ii) The RM400,000,000 nominal amount of 3% Redeemable Unsecured Bonds 2000/2007 were issued with 166,297,668 detachable warrants to a primary subscriber and subsequently resold to the shareholders on the basis of one warrant for every four existing ordinary shares held at an offer price of 61.0 sen per warrant. Each warrant entitles the registered holder to subscribe for one new share in the Company at any time on or before the expiry date at the end of six and half years following the date of issue on 22 February 2001 at an exercise price of RM3.75 per share. The exercise price is subject to adjustments from time to time in accordance with the conditions set out in the Deed Poll created on 22 February The bonds were issued at 100% of the nominal amount and carry a fixed coupon rate of 3% per annum payable semi annually in arrears.at the end of its tenure, the bonds will be redeemed at 100% nominal value together with interest accrued to the date of maturity on 28 September (b) Deferred taxation Group Company RM 000 RM 000 RM 000 RM 000 At 1 August 2000/1999 7,986 8,136 6,272 6,272 Transfer from/(to) income statement (Note 25) 1,589 (150) At 31 July 9,575 7,986 6,272 6,272 Deferred taxation amounting to RM3,965,000 on the revaluation of certain land and buildings is not provided for in the financial statements as it is not the intention of the directors to dispose the properties.

44 NOTES TO THE FINANCIAL STATEMENTS 31 July LONG TERM LIABILITIES (cont d) (c) Long term payable is in respect of obligation due to a third party for the acquisition of land held for development, referred to in Note 7.The obligation is payable in accordance with the terms and conditions of the sale and purchase agreement as follows: Group and Company RM 000 RM Long term payable 141,124 Due within 12 months (Note 10) (47,041) Due after 12 months 94,083 Repayable: Within one year 47,041 Between one and two years 47,041 Between two and five years 47, ,124 (d) The provision for retirement benefits is non-funded and is determined based on the schedule of benefits stipulated in the Group s policies and agreements. Group Company RM 000 RM 000 RM 000 RM 000 At 1 August 2000/1999 4,777 4,683 3,996 3,996 Net provision/(charge for the year) (Note 23) (5) At 31 July 5,065 4,777 3,991 3, REVENUE Revenue of the Group and the Company consist of the following: Group Company RM 000 RM 000 RM 000 RM 000 Engineering and construction 751, , , ,397 Quarry sales 29,815 32,740 Property development 5,924 Paper sales 25,442 24,132 Trading of construction materials 18,339 1,531 Others 394 1, , , , ,397

45 NOTES TO THE FINANCIAL STATEMENTS 31 July OTHER OPERATING INCOME Included in other operating income are: Group Company RM 000 RM 000 RM 000 RM 000 Management fees received from a subsidiary Dividends received/receivable from subsidiaries 1,250 2,225 investment in an associated company (quoted) 12,968 2,348 Gain on sale of property, plant and equipment Bad debts recovered Unrealised gain on foreign exchange 17 Rental income subsidiary others STAFF COSTS Included in staff costs are: Group Company RM 000 RM 000 RM 000 RM 000 Directors remuneration* 4,176 3,437 3,934 3,198 Net provision/(write back) for retirement benefits (5) * Directors remuneration Directors of the Company: Executive: Salaries and other emoluments 4,065 3,332 3,823 3,093 Benefits-in-kind ,428 3,570 4,165 3,327 Non-Executive: Fees Benefits-in-kind Total 4,570 3,692 4,307 3,449 Total excluding benefits-in-kind 4,176 3,437 3,934 3,198

46 NOTES TO THE FINANCIAL STATEMENTS 31 July STAFF COSTS (cont d) The number of directors of the Company whose total remuneration during the year fall within the following bands are: No. of directors Executive directors: 104 RM200,001 RM250,000 1 RM250,001 RM300,000 1 RM300,001 RM350,000 RM350,001 RM400,000 RM400,001 RM450,000 4 RM450,001 RM500,000 4 RM500,001 RM550, RM550,001 RM600,000 2 RM650,001 RM700,000 1 Non-Executive directors: 10 8 RM1 RM50, RM50,001 RM100,000 RM100,001 RM150, Total 13 11

47 NOTES TO THE FINANCIAL STATEMENTS 31 July OTHER OPERATING EXPENSES Included in other operating expenses are: Group Company RM 000 RM 000 RM 000 RM 000 Auditors remuneration Amortisation of goodwill on consolidation: Subsidiaries Associated company 2,313 Provision for doubtful debts Inventories written off Unrealised loss on foreign exchange 20 Hire of plant and equipment 5,962 13,109 1,250 8,205 Rental expense of premises 1,496 1, Net provision/(write back) for retirement benefits (5) Provision/(write back) for diminution in value of investment in quoted shares in Malaysia 535 (57) Fixed assets written off FINANCE COSTS Finance costs comprise interest expense. 25 TAXATION Group Company RM 000 RM 000 RM 000 RM 000 Current year s provision 41,626 35,179 23,107 30,095 Transfer to/(from) deferred taxation (Note 19(b)) 1,589 (150) Taxation under/(over) provided in previous years 1,290 (323) 1,432 (556) 44,505 34,706 24,539 29,539 The effective tax rate of the Group is higher than the statutory tax rate principally due to losses of certain subsidiaries which cannot be set off against profits made by other companies in the Group as there is no tax relief for the Group. The effective tax rate of the Company is lower than the statutory tax rate principally due to tax exempt dividends received from its subsidiaries. As at 31 July 2001, the Company has tax exempt profit available for distribution of approximately RM9,000 (2000: RM53,228,000) subject to agreement with the Inland Revenue Board. The Company has sufficient tax credit under Section 108 of the Income Tax Act, 1967 to frank the payment of dividend out of its entire retained profits as at 31 July 2001.

48 NOTES TO THE FINANCIAL STATEMENTS 31 July DIVIDENDS Group and Company Amount Dividend per share RM 000 RM 000 Sen Sen 106 Interim dividend paid of 4% tax exempted (2000: 4% tax exempted) 26,611 26, Proposed final dividend of 4% less taxation (2000: 4% tax exempted) 19,163 26, Underprovision of prior year s proposed final dividend ,774 53, EARNINGS PER SHARE The basic earnings per share is calculated by dividing the Group s profit after taxation and minority interests of RM191,708,000 (2000: RM146,815,000) by the weighted average number of shares in issue during the year of 665,240,000 (2000: 639,494,000). The fully diluted earnings per share has been calculated based on the adjusted Group s profit after taxation and minority interests of RM191,708,000 (2000: RM146,815,000) and on the shares of 679,413,000 (2000: 665,567,000) that are in issue or issuable during the financial year. Weighted Average Net profit Number of Shares Earnings Per Share (RM 000) (in thousands) (sen) Net profit for the year 191, , , ,494 Basic earnings per share Assumed exercise of ESOS 4,628 Assumed exercise of warrants 9,545 26, , , , ,567 Diluted earnings per share For the financial year ended 31 July 2001, Warrants 2001/2007 had been excluded from the computation of fully diluted earnings as the effect of such conversion in the earnings would be anti dilutive. The comparative fully diluted earnings per share has been restated to reflect the method of computation used in current financial year which is in accordance with Malaysian Accounting Standards Board Standard 13: Earnings Per Share.

49 NOTES TO THE FINANCIAL STATEMENTS 31 July CAPITAL COMMITMENTS Group Company RM 000 RM 000 RM 000 RM 000 Approved and contracted for 151,160 1, Included in the capital commitments is an amount of RM150,499,000 relating to the purchase of land by the Company s subsidiary, Harum Intisari Sdn Bhd CONTINGENT LIABILITIES (UNSECURED) Group Company RM 000 RM 000 RM 000 RM 000 Indemnities and guarantees given to trade suppliers for credit facilities granted to a subsidiary company 1,037 Performance and retention sum guarantees 266, , , , , , , , SIGNIFICANT RELATED PARTY TRANSACTIONS Group Company RM 000 RM 000 RM 000 RM 000 Contract services rendered to Lingkaran Trans Kota Holdings Berhad, an associated company (1,587) (32,100) (1,587) (32,100) Contract services rendered to Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd, an associated company (163,064) (479,371) (163,064) (479,371) Contract services rendered to Syarikat Pengeluar Air Sungai Selangor Sdn Bhd, an associated company (133,560) Contract services rendered by Sepakat Setia Perunding Sdn Bhd, a company in which a director, Tan Sri Dato Ir Talha bin Haji Mohd Hashim has interest 1, Contract services rendered by subsidiaries 302,807 76,955 Gross dividends receivable from subsidiaries (1,550) (2,435) Interest payable to subsidiaries Management fees receivable from subsidiaries (450) (475) Rental received from subsidiary (337) (22) Interest receivable from subsidiaries (439) (459) Transfer of fixed assets from subsidiaries Transfer of fixed assets to subsidiaries The directors are of the opinion that the transactions have been entered into in the normal course of business and have been established on a negotiated basis which are not materially different from that obtainable in transactions with unrelated parties.

50 NOTES TO THE FINANCIAL STATEMENTS 31 July SIGNIFICANT EVENS During the financial year, (a) the Company subscribed for the followings in Harum Intisari Sdn Bhd: 108 (i) (ii) 5,000,000 ordinary shares of RM1 each representing 100% of the issued and paid-up share capital for a total cash consideration of RM5,000,000; and 350,000 Redeemable Preference Shares at a premium of RM99 each for a total cash consideration of RM35,000,000 for part of the consideration to acquire the pieces of land as disclosed in (c) below. (b) the Company acquired additional 33,000,000 ordinary shares of RM1 each in Gabungan Cekap Sdn Bhd ( GCSB ) for a total cash consideration of RM33,000,000 for the purpose of maintaining its effective interest of 30% in GCSB. (c) the Company s subsidiary, Harum Intisari Sdn Bhd had entered into a conditional contract to acquire the following pieces of land for a total consideration of RM388,830,453: (i) (ii) Three parcels of freehold land measuring approximately 572 acres, together with buildings constructed thereon and structures affixed thereto, held under Geran Lot No , Geran Lot No. 122 and Geran 6631 Lot No in the Mukim and District of Klang, Selangor Darul Ehsan; and Two parcels of freehold land measuring approximately 669 acres, together with buildings constructed thereon and structures affixed thereto, held under Geran Lot No. 31, Geran Lot No in the Mukim and District of Klang, Selangor Darul Ehsan. (d) the Company s subsidiary, Ganaz Bina Sdn Bhd acquired additional 30% interest in G.B. Kuari Sdn Bhd for a total consideration of RM18,400,000 resulting in G.B. Kuari Sdn Bhd becoming a wholly owned subsidiary of Ganaz Bina Sdn Bhd (e) (f) (g) the Company has issued renounceable rights issue of up to 166,297,668 new warrants at an issue price of RM0.61 per new warrant on the basis of one new warrant for every four existing ordinary shares. The exercise price of the warrants has been fixed at RM3.75. the Company issued a seven year 3% Redeemable Unsecured Bonds at a nominal value of RM400,000,000. the Company entered into supplementary agreement dated 15 January 2001 with the intention to subscribe for additional 135,000 preference shares of RM1.00 each for RM100 per share amounting to RM13.5 million in Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd in preparation for commencement of Western Kuala Lumpur Traffic Dispersal Scheme Package C. (h) the Company acquired 1,600,000 ordinary shares of RM1 each representing 80% of the issued and paid-up share capital of Gamuda Water Sdn Bhd (formerly known as The Sweet Water Management Sdn Bhd) for a total cash consideration of RM71,600,000. (i) (j) the Company increased its authorised share capital from RM1,000,000,000 comprising 1,000,000,000 ordinary shares of RM1.00 each to RM2,000,000,000 comprising 2,000,000,000 ordinary shares of RM1.00 each. the issued and paid-up share capital of the Company was increased from RM665,190,672 to RM665,354,672 via the issuance of 164,000 new ordinary shares of RM1.00 each pursuant to the exercise of Employees Share Option Scheme. (154,000 and 10,000 new ordinary shares at prices of RM3.25 and RM3.45 respectively). The new shares issued rank pari passu in all respect with the existing ordinary shares of the Company.

51 NOTES TO THE FINANCIAL STATEMENTS 31 July SUBSEQUENT EVENT (a) On 6 August 2001, the Sales and Purchase Agreement between the Company and the vendor for the acquisition of 80% equity interest in Gamuda Water Sdn Bhd (formerly known as The Sweet Water Management Sdn Bhd) was completed. (b) On 26 September 2001, the National Highways Authority of India has accepted the joint bid by the Company and WCT Engineering Berhad to design, finance, construct, operate and maintain a highway project at KM 517 to KM , Panagarh-Palsit Section in the State of West Bengal. The project is estimated to cost Rps. 5.0 Billion (approximately RM420 million) SEGMENTAL ANALYSIS Profit before Total assets Revenue taxation employed RM 000 RM 000 RM 000 Analysis by activity: 2001 The Company and its subsidiaries: Engineering and construction 751, , ,323 Manufacturing, quarrying and others 73,990 18, ,373 Property development 5,924 (96) 370,199 Water supply (219) 75,084 Associated companies: 831, ,043 1,558,979 Expressways 64, ,025 Water supply 41,708 83,339 Property development 26, ,127 Manufacturing and others (1,359) 68, , ,244 Total 831, ,035 2,438,223

52 NOTES TO THE FINANCIAL STATEMENTS 31 July SEGMENTAL ANALYSIS (cont d) Profit before Total assets Revenue taxation employed RM 000 RM 000 RM 000 Analysis by activity: The Company and its subsidiaries: Engineering and construction 577, , ,387 Manufacturing, quarrying and others 60,091 16, ,411 Property development 103, , , ,154 Associated companies: Expressways 53, ,486 Water supply 8,476 21,044 Property development 17, ,844 Manufacturing and others (305) 70,110 79, ,484 Total 637, ,062 1,405,638 The activities of the Group are principally carried out in Malaysia. The directors are of the opinion that all inter-segment transactions have been entered into in the normal course of business and have been established on terms and conditions that are not materially different from that obtainable in transactions with unrelated parties. 34 COMPARATIVE FIGURES Certain comparative figures have been reclassified to conform with the current year s presentation. 35 CURRENCY All amounts are stated in Ringgit Malaysia unless otherwise stated.

53 LIST OF MAJOR PROPERTIES HELD as at 31 July 2001 Approximate Year of Net book age of Location Tenure Area Description expiry value building No. 36/38, Jalan SS21/62 Freehold 1,078 sq m 2 blocks, 4 storey 1,110, Petaling Jaya, shoplot/office Selangor No. 30, Jalan SS2/44 Freehold 501 sq m Bungalow/staff quarters 358, Petaling Jaya, Selangor 111 No. 39, Jalan SS22/23 Freehold 499 sq m 4 storey shoplot/ 613, Petaling Jaya, office Selangor No , Jalan SS22/23 Freehold 1,996 sq m 4 blocks, 4 storey 904, Petaling Jaya, shoplot/office 904,908 Selangor 1,272,703 1,053,472 Lot 6, Jalan U1/17, Freehold acres Industrial estate/ 7,183, Seksyen U1 factory/office Shah Alam, Selangor No. 152, Jalan Gopeng Leasehold 164 sq m 3 storey shoplot/ , Ipoh, Perak office No. 158, Jalan Gopeng Leasehold 163 sq m 3 storey shoplot/ , Ipoh, Perak office PT 51683, Jalan Jelapang Leasehold 4,353 sq m Industrial estate/ , Ipoh, Perak workshop PT Leasehold 12,144 sq m Industrial estate/ , Meru Industrial Estate store Jelapang, Ipoh, Perak Lot , , Leasehold 45 hectares Granite hill, limestone ,187, , , , hill and industrial , , 46482, land/quarry all in the Mukim Kampar District of Kinta, 31350, Ipoh, Perak HS (D) 54871, Freehold 16,898 sq ft Industrial estate/ 8,097,391 PT No workshop Mukim & District of Kelang Selangor HS (D) 52621, Freehold 42,217 sq ft Commercial land 9,104,000 PT No Mukim & District of Kelang Selangor

54 OTHER INFORMATION NON-AUDIT FEE PAID TO EXTERNAL AUDITORS The Company and its subsidiaries did not pay any non-audit fee to Arthur Andersen & Co (external auditors), for the financial year ended 31 July REVALUATION POLICY ON LANDED PROPERTIES The Group does not adopt a policy of regular revaluation. 112 SHARE BUY-BACK The Company did not purchase any of its own shares during the financial year ended 31 July EMPLOYEES' SHARE OPTIONS AND WARRANTS Save for the exercise of options pursuant to the Employees' Share Option Scheme, the amount of which is disclosed in Note 18 of the Financial Statements, there were no other exercises of options or any exercise of warrants during the financial year ended 31 July MATERIAL CONTRACTS INVOLVING DIRECTORS AND MAJOR SHAREHOLDERS Other than as disclosed in Note 30 of the Financial Statements, there were no material contracts entered into by the Company and its subsidiaries, involving Directors and major shareholders. SANCTIONS AND/OR PENALTIES IMPOSED Since the end of the previous financial year, there is no sanction and/or penalty imposed on the Company and its subsidiaries, Directors or management by the relevant regulatory bodies. AMERICAN DEPOSITORY RECEIPT (ADR) OR GLOBAL DEPOSITORY RECEIPT (GDR) PROGRAMME The Company does not sponsor any ADR or GDR programme. STATUS OF BOND UTILISATION The following is the utilisation of the 3% Redeemable Unsecured Bonds 2000/2007 bond proceeds as at 31 July 2001: Amount Detail activities Approved Utilised RM'000 RM'000 Repayment of borrowings 115,000 Land acquisition 60,000 60,000 Working capital 70,700 70,700 Expenses of Bond Issue 4,300 4,300 Investment in Gabungan Cekap Sdn Bhd 150,000 48,000 (Holding company of Splash) Total 400, ,000

55 ANALYSIS OF SHAREHOLDINGS as at 26 November 2001 Authorised Capital : RM2,000,000, Issued and Fully Paid : RM665,928, Class of Shares : Ordinary shares of RM1.00 each Voting Rights : 1 vote per shareholder on a show of hands 1 vote per ordinary share on a poll No. of Shareholders : 12,624 No. of No. of Size of shareholdings shareholders ordinary shares % , ,000 10,000 10,428 28,397, , ,000 1,341 44,402, ,001 33,296, ,115, ,296,434 and above 3 175,958, Total 12, ,928, SUBSTANTIAL SHAREHOLDERS As shown in the Register of Substantial Shareholders No. of shares in which No. of shares in which substantial substantial shareholders shareholders have are deemed to have Name of substantial shareholder direct interest an interest % Generasi Setia (M) Sdn Bhd 92,486,928 (a) Raja Dato Seri Eleena Azlan Shah 92,486,928 (b) Dato Lin Yun Ling 56,848,818 (c) 8.54 Employees Provident Fund Board 55,189,250 (d) 8.29 (a) Include shares held through a nominee company. (b) Deemed interested through Generasi Setia (M) Sdn Bhd. (c) Include shares held through a nominee company. (d) Include shares held through nominee companies.

56 ANALYSIS OF SHARE/WARRANT HOLDINGS as at 26 November 2001 DIRECTORS INTERESTS As shown in the Register of Directors Shareholdings Other than disclosed below, there is no other Director of the Company who has interest, direct or deemed, in the Company and its related corporations. In the Company Name of Director Direct % Deemed % 114 No. of ordinary shares Tan Sri Dato Ir Talha bin Haji Mohd Hashim 525, Dato Lin Yun Ling 56,848,818^ 8.54 Raja Dato Seri Eleena Azlan Shah 92,486,928* Dato Ir Kamarul Zaman bin Mohd Ali 1,188, Ng Kee Leen 14,516,114 # 2.18 Goon Heng Wah 1.72 Ha Tiing Tai 13,207, Saw Wah Theng 100, Azmi Mat Nor 10, Chow Chee Wah 2, ^ Include ordinary shares held through a nominee company. * Deemed interested through Generasi Setia (M) Sdn Bhd. Include ordinary shares held by Generasi Setia (M) Sdn Bhd through a nominee company. # Include ordinary shares held through a nominee Include ordinary shares held through nominee companies. Held through a nominee company. No. of Warrant 1996/2006 Dato Lin Yun Ling 8,053,442^^ Raja Dato Seri Eleena Azlan Shah 13,724,000** Dato Ir Kamarul Zaman bin Mohd Ali 172, Ng Kee Leen 2,288, Goon Heng Wah 1,788, Ha Tiing Tai 1,704, ^^ Include Warrant 1996/2006 held through a nominee company. ** Deemed interested through Generasi Setia (M) Sdn Bhd. No. of Warrant 2001/2007 Dato Lin Yun Ling 12,240, Raja Dato Seri Eleena Azlan Shah 23,122,000*** Dato Ir Kamarul Zaman bin Mohd Ali 331, Ng Kee Leen 4,308, Goon Heng Wah 2,996, Ha Tiing Tai 3,477, Saw Wah Theng 96, *** Deemed interested through Generasi Setia (M) Sdn Bhd. Include Warrant 2001/2007 held by Generasi Setia (M) Sdn Bhd through a nominee company.

57 ANALYSIS OF SHAREHOLDINGS as at 26 November 2001 DIRECTORS INTERESTS (cont d) As shown in the Register of Directors Shareholdings Employees Share Option Scheme No. of option Option price shares Name of Director RM 000 Dato Lin Yun Ling Dato Ir Kamarul Zaman bin Mohd Ali Ng Kee Leen Goon Heng Wah Ha Tiing Tai Saw Wah Theng Chow Chee Wah TOP 30 SHAREHOLDERS According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. Shareholder s name Shareholding % 1 Generasi Setia (M) Sdn Bhd 82,986, Dato Lin Yun Ling 48,962, Employees Provident Fund Board 44,009, Ha Tiing Tai 12,707, Ng Kee Leen 11,136, Malaysia Nominees (Tempatan) Sendirian Berhad 10,609, Great Eastern Life Assurance (Malaysia) Berhad (MLF) 7 Sukma Sinaran Sdn Bhd 10,102, PAB Nominee (Tempatan) Sdn Bhd 9,500, Pledged Securities Account for Generasi Setia (M) Sdn Bhd 9 EB Nominees (Tempatan) Sendirian Berhad 8,138, Pledged Securities Account for Heng Teng Kuang 10 Citicorp Nominees (Asing) Sdn Bhd 7,811, CBHK PBGSGP for Keyport Limited 11 EB Nominees (Tempatan) Sendirian Berhad 7,402, Pledged Securities Account for Shang Chung Koon Yee 12 Goon Heng Wah 7,071, Amanah Raya Nominees (Tempatan) Sdn Bhd 6,264, Amanah Saham Malaysia 14 EB Nominees (Tempatan) Sendirian Berhad 6,000, Pledged Securities Account for Chan Yong Chan Kuan Nam 15 Amanah Raya Nominees (Tempatan) Sdn Bhd 5,777, Kuala Lumpur Growth Fund 16 Raja Nazrin Shah 5,300, Khazanah Nasional Berhad 4,840, Nik Anida Binti Nik Manshor 4,671, HLG Nominee (Tempatan) Sdn Bhd 4,586, PB Trustee Services Berhad for HLB Growth Fund

58 ANALYSIS OF SHAREHOLDINGS as at 26 November 2001 TOP 30 SHAREHOLDERS (cont d) According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. Shareholder s name Shareholding % Cartaban Nominees (Asing) Sdn Bhd 4,006, SSBT Fund P001 for Morgan Stanley Dean Witter Investment Management Emerging Markets Trust 21 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 3,704, Arab-Malaysian Trustee Bhd for BHLB Pacific Dana Al-Ihsan 22 Chan Yong Chan Kuan Nam 3,484, Lembaga Tabung Haji 3,400, Mayban Nominees (Tempatan) Sdn Bhd 3,344, Pledged Securities Account for Shang Chung Koon Yee 25 Amanah Raya Nominees (Tempatan) Sdn Bhd 3,298, Kuala Lumpur Savings Fund 26 Mayban Nominees (Tempatan) Sdn Bhd 3,240, Pledged Securities Account for Heng Teng Kuang 27 HSBC Nominees (Asing) Sdn Bhd 3,209, Stichting Pensioenfonds ABP 28 DB (Malaysia) Nominee (Asing) Sdn Bhd 3,200, DBSPN for Prudential Assurance Company Singapore (Pte) Limited (Prulink Fund) 29 Malaysia Nominees (Tempatan) Sendirian Berhad 3,175, Great Eastern Life Assurance (Malaysia) Berhad (MLF2) 30 Mayban Nominees (Tempatan) Sdn Bhd 3,127, Mayban Trustees Berhad for Kuala Lumpur Regular Savings Fund Total 335,062,

59 ANALYSIS OF WARRANT HOLDINGS as at 26 November 2001 WARRANT 1996/2006 HOLDINGS No. of Warrants Unexercised : 76,650,642 Exercise Period : 30/12/ /12/2006 Exercise Rights : Each Warrant entitles the holder to subscribe for one (1) new ordinary share of RM1.00 in the Company at any time during the Exercise Period. No. of Warrant No. of Warrant 1996/ /2006 Size of holdings holders held % , ,000 10,000 2,483 7,727, , , ,405, ,001 3,832, ,368, ,832,533 and above 4 29,122, Total 2,990 76,650, TOP 30 WARRANT 1996/2006 HOLDERS According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. of Warrant No. Warrant 1996/2006 holder s name 1996/2006 held % 1 Generasi Setia (M) Sdn Bhd 13,724, Dato Lin Yun Ling 6,453, Malaysia National Insurance Berhad 4,988, Chan Yong Chan Kuan Nam 3,957, Heng Teng Kuang 3,553, Shang Chung Koon Yee 2,500, Ng Kee Leen 2,288, Universal Trustee (Malaysia) Berhad 1,975, SBB Premium Capital Fund 9 Goon Heng Wah 1,788, Ha Tiing Tai 1,704, Citicorp Nominees (Asing) Sdn Bhd 1,574, CBHK PBGSGP for Keyport Limited 12 Takaful Nasional Sdn Berhad 1,244, Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,148, Arab Malaysian Trustee Bhd for HLB Penny Stock Fund (5/4-3) 14 HDM Nominees (Tempatan) Sdn Bhd 1,110, HDM Venture Capital Sdn Bhd for Tiang Ming Sing 15 RHB Nominees (Tempatan) Sdn Bhd 963, Pledged Securities Account for Chan Kok Wah 16 Leong Mun Meng 833, Southern Nominees (Tempatan) Sdn Bhd 602, Southern Bank Berhad 18 Lee Muk Siong 580, Universal Trustee (Malaysia) Berhad 487, BHLB Pacific Emerging Companies Growth Fund 20 Citicorp Nominees (Asing) Sdn Bhd 457, CBHK PBGSGP for Su Zhou Investments Ltd 21 Omega Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Tan Kai T Teck Chuan 420,

60 ANALYSIS OF WARRANT HOLDINGS as at 26 November 2001 TOP 30 WARRANT 1996/2006 HOLDERS (cont d) According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. of Warrant No. Warrant 1996/2006 holder s name 1996/2006 held % Wong Kok Hou 416, BHLB Trustee Berhad 400, TA Comet Fund 24 BHLB Trustee Berhad 373, TA Balanced Fund 25 Amanah Raya Berhad 342, Dana Al-Aiman 26 Hong Chin Chai 300, Lim Thin Peng 294, Lim Thin Peng 282, Ong Boon Kheng 281, Mayban Nominees (Tempatan) Sdn Bhd 250, Mayban Trustees Berhad for Amanah Saham PAB Total 55,290, WARRANT 2001/2007 HOLDINGS No. of Warrants Issued : 166,297,668 Exercise Period : 22/2/ /8/2007 Exercise Rights : Each Warrant entitles the holder to subscribe for one (1) new ordinary share of RM1.00 in the Company at any time during the Exercise Period. No. of Warrant No. of Warrant 2001/ /2007 Size of holdings holders held % , ,000 10,000 5,391 13,973, , , ,545, ,001 8,314, ,201, ,314,884 and above 3 46,376, Total 6, ,297, TOP 30 WARRANT 2001/2007 HOLDERS According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. of Warrant No. Warrant 2001/2007 holder s name 2001/2007 held % 1 Generasi Setia (M) Sdn Bhd 20,747, Employees Provident Fund Board 13,389, Dato Lin Yun Ling 12,240, Malaysia Nominees (Tempatan) Sendirian Berhad 3,637, Great Eastern Life Assurance (Malaysia) Berhad (MLF) 5 Chan Yong Chan Kuan Nam 3,564, Ha Tiing Tai 3,177,

61 ANALYSIS OF WARRANT HOLDINGS as at 26 November 2001 TOP 30 WARRANT 2001/2007 HOLDERS (cont d) According to the Record of Depositors (without aggregating the securities from different securities accounts belonging to the same person) No. of Warrant No. Warrant 2001/2007 holder s name 2001/2007 held % 7 Citicorp Nominees (Asing) Sdn Bhd 2,952, CBHK PBGSGP for Keyport Limited 8 Ng Kee Leen 2,835, Sukma Sinaran Sdn Bhd 2,661, EB Nominees (Tempatan) Sendirian Berhad 2,535, Pledged Securities Account for Heng Teng Kuang 11 PAB Nominee (Tempatan) Sdn Bhd 2,375, Pledged Securities Account for Generasi Setia (M) Sdn Bhd 12 EB Nominees (Tempatan) Sendirian Berhad 1,852, Pledged Securities Account for Shang Chung Koon Yee 13 Goon Heng Wah 1,703, Amanah Raya Nominees (Tempatan) Sdn Bhd 1,637, Kuala Lumpur Savings Fund 15 Mayban Nominees (Tempatan) Sdn Bhd 1,466, Mayban Trustees Berhad for Phileo Equityextra Fund 16 Arab-Malaysian Finance Berhad 1,400, Pledged Securities Account for Ng Leong Huat 17 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,396, Kuala Lumpur Equity Fund 18 Mayban Nominees (Tempatan) Sdn Bhd 1,377, Mayban Trustees Berhad for Kuala Lumpur Aggressive Growth Fund 19 Goon Heng Wah 1,293, Amanah Raya Nominees (Tempatan) Sdn Bhd 1,288, Kuala Lumpur Growth Fund 21 EB Nominees (Tempatan) Sendirian Berhad 1,250, Pledged Securities Account for Chan Kok Wah 22 Ng Kee Leen 1,238, Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,159, Arab-Malaysian Trustee Bhd for HLB Penny Stock Fund (5/4-3) 24 HDM Nominees (Asing) Sdn Bhd 1,156, DBS Vickers Secs (S) Pte Ltd for Mak Wai Nam 25 CIMB Securities Sdn Bhd 1,060, IVT for Company 6 26 Malaysia Nominees (Tempatan) Sendirian Berhad 1,049, Great Eastern Life Assurance (Malaysia) Berhad (MLF2) 27 HSBC Nominees (Asing) Sdn Bhd 864, HSBCIT HK for JF Malaysia Fund 28 HSBC Nominees (Asing) Sdn Bhd 864, BNY Brussels for JF Asean Fund 29 Mayban Nominees (Tempatan) Sdn Bhd 837, Pledged Securities Account for Shang Chung Koon Yee 30 Mayban Nominees (Tempatan) Sdn Bhd 816, Mayban Trustees Berhad for Kuala Lumpur Regular Savings Fund 119 Total 93,820,

62

63 PENYATA KEWANGAN Laporan Para Pengarah 129 Penyata Para Pengarah/Akuan Berkanun 130 Laporan Juruaudit 131 Lembaran Imbangan Disatukan 132 Penyata Pendapatan Disatukan 133 Penyata Perubahan dalam Ekuiti Disatukan 134 Penyata Aliran Tunai Disatukan 136 Lembaran Imbangan 137 Penyata Pendapatan 138 Penyata Perubahan dalam Ekuiti 139 Penyata Aliran Tunai 141 Nota-Nota kepada Penyata Kewangan

64 LAPORAN PARA PENGARAH Para Pengarah dengan ini membentangkan laporan mereka dan penyata kewangan Kumpulan dan Syarikat yang telah diaudit bagi tahun kewangan berakhir 31 Julai KEGIATAN UTAMA Kegiatan utama Syarikat adalah pegangan pelaburan dan pembinaan kejuruteraan awam. Kegiatan-kegiatan utama syarikat-syarikat subsidiari telah dihuraikan dalam Nota 13 kepada penyata kewangan. 122 Tiada sebarang perubahan penting dalam kegiatan-kegiatan utama ini di sepanjang tahun kewangan selain daripada kegiatankegiatan syarikat-syarikat subsidiari baru. KEPUTUSAN Kumpulan RM 000 Syarikat RM 000 Keuntungan selepas cukai 196,185 72,399 Kepentingan minoriti (4,477) Keuntungan bersih milik para pemegang syer 191,708 72,399 DIVIDEN Jumlah dividen yang telah dibayar atau disyorkan oleh Syarikat sejak 31 Julai 2000 adalah seperti berikut: RM 000 Bagi tahun kewangan berakhir 31 Julai 2000 Dividen akhir sebanyak 4% dikecualikan cukai dibayar pada 5 Februari ,608 Bagi tahun kewangan berakhir 31 Julai 2001 Dividen interim sebanyak 4% dikecualikan cukai dibayar pada 19 April ,611 Para pengarah mengisytiharkan dividen akhir sebanyak 4% selepas cukai 28% berjumlah RM19,163,000 bagi tahun kewangan semasa. RIZAB DAN PERUNTUKAN Tiada pindahan yang penting kepada atau daripada rizab atau peruntukan di sepanjang tahun kewangan ini selain dari yang dinyatakan di dalam penyata perubahan dalam ekuiti. HUTANG LAPUK DAN HUTANG RAGU Sebelum penyata pendapatan dan lembaran imbangan disediakan, para pengarah telah mengambil langkah-langkah yang sewajarnya untuk memastikan bahawa tindakan telah diambil berkaitan dengan menghapuskirakan hutang lapuk dan dalam membuat peruntukan bagi hutang ragu dan berpuashati bahawa kesemua hutang yang diketahui lapuk telah dihapuskira dan peruntukan yang mencukupi telah dibuat bagi hutang ragu. Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang kejadian yang memerlukan hutang lapuk dihapuskirakan atau jumlah yang diperuntukkan bagi hutang ragu Kumpulan dan Syarikat tidak mencukupi hingga ke peringkat yang menjejaskan.

65 LAPORAN PARA PENGARAH ASET SEMASA Sebelum penyata pendapatan dan lembaran imbangan disediakan, para pengarah telah mengambil langkah-langkah yang sewajarnya untuk memastikan bahawa aset semasa yang mungkin tidak dapat dijual dalam urusniaga biasa pada nilai yang ditunjukkan di dalam rekod-rekod perakaunan Kumpulan dan Syarikat, telah dikurangkan kepada nilai yang dianggap boleh diperolehi. Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang mungkin menyebabkan nilai aset semasa di dalam penyata kewangan Kumpulan dan Syarikat mengelirukan. KAEDAH PENILAIAN Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang timbul yang boleh menjadikan kepatuhan kepada kaedah penilaian yang sedia ada bagi penilaian aset atau liabiliti Kumpulan dan Syarikat mengelirukan atau tidak sesuai. 123 LIABILITI LUARJANGKA DAN LAIN-LAIN LIABILITI Pada tarikh laporan ini, tidak wujud: (a) sebarang tindihmilik ke atas aset Kumpulan atau Syarikat yang timbul sejak akhir tahun kewangan yang menjamin liabiliti pihak lain; atau (b) sebarang liabiliti luarjangka Kumpulan atau Syarikat yang timbul sejak akhir tahun kewangan. Tiada liabiliti luarjangka atau lain-lain liabiliti yang telah berkuatkuasa atau berkemungkinan dikuatkuasakan dalam tempoh dua belas bulan dari akhir tahun kewangan ini yang pada pendapat para pengarah, akan atau mungkin menjejaskan secara berkesan keupayaan Kumpulan atau Syarikat untuk menunaikan kewajipan mereka apabila tiba masanya kelak. PERUBAHAN KEADAAN Pada tarikh laporan ini, para pengarah tidak mengetahui tentang sebarang keadaan yang tidak dinyatakan di dalam laporan ini atau penyata kewangan Kumpulan atau Syarikat yang akan menyebabkan mana-mana jumlah yang dinyatakan di dalam penyata kewangan mengelirukan. BUTIRAN YANG BERSIFAT LUARBIASA Para pengarah berpendapat bahawa keputusan Kumpulan dan Syarikat di sepanjang tahun kewangan tidak dipengaruhi secara berkesan oleh sebarang butiran, urusniaga atau kejadian yang bersifat penting dan luarbiasa. Di dalam jangkamasa di antara akhir tahun kewangan dan tarikh laporan ini, tidak timbul sebarang butiran, urusniaga atau kejadian yang bersifat penting dan luarbiasa yang, pada pendapat para pengarah, akan mempengaruhi secara berkesan ke atas keputusan Kumpulan atau Syarikat bagi tahun kewangan di mana laporan ini disediakan. PERISTIWA-PERISTIWA PENTING Peristiwa-peristiwa penting di sepanjang tahun kewangan ini adalah dinyatakan dalam Nota 31 kepada penyata kewangan. PERISTIWA SUSULAN Peristiwa-peristiwa susulan di sepanjang tahun kewangan ini adalah dinyatakan dalam Nota 32 kepada penyata kewangan.

66 LAPORAN PARA PENGARAH WARAN Waran 1996/2001 adalah dibentuk oleh Surat Ikatan Cabutan bertarikh 23 Disember 1996 yang dilaksanakan oleh Syarikat untuk pemegang-pemegang Waran 1996/2001. Pada tahun 1999, jangkamasa langganan telah dilanjutkan selama lima tahun bermula 29 Disember 2001 ke 29 Disember Waran 1996/2006 boleh dilaksanakan pada bila-bila masa pada dan selepas 30 Disember1996 sehingga 29 Disember Setiap Waran 1996/2006 membolehkan pemegang waran untuk melanggan satu syer biasa baru Syarikat bernilai RM1.00 setiap satu pada harga perlaksanaan RM4.21 setiap satu tertakluk kepada perubahan mengikut syarat yang terkandung di dalam Surat Ikatan Cabutan. Waran-waran 1996/2006 yang tidak dilaksanakan pada tarikh matang, akan kehilangan haknya dan menjadi tidak sah untuk apa-apa kegunaan. Syer-syer yang diterbitkan daripada perlaksanaan Waran 1996/2006 mempunyai taraf yang sama dalam semua hal dengan syer biasa Syarikat kecuali pemegang-pemegang syer tersebut tidak akan layak untuk sebarang hak, dividen atau pengagihan yang lain melainkan perlaksanaan Waran 1996/2006 tersebut telah dijalankan sebelum tarikh tutup buku daftar-daftar syer untuk penentuan kelayakan pada hak-hak dan pengagihan tersebut. Pada tarikh lembaran imbangan,waran 1996/2006 yang masih belum dilaksanakan berjumlah 76,650,642 unit. Waran 2001/2007 adalah dilaksanakan menurut penerbitan terbitan hak yang boleh dilepaskan sebanyak 166,297,668 waran baru di sepanjang tahun kewangan. Waran 2001/2007 adalah dibentuk oleh Surat Ikatan Cabutan bertarikh 27 November 2000 yang dilaksanakan oleh Syarikat untuk pemegang-pemegang Waran 2001/2007. Waran 2001/2007 boleh dilaksanakan pada bila-bila masa pada dan selepas 22 Februari 2001 hingga 21 Ogos Setiap Waran 2001/2007 membolehkan pemegang waran untuk melanggan satu syer biasa baru Syarikat bernilai RM1.00 setiap satu pada harga perlaksanaan RM3.75 setiap satu tertakluk kepada perubahan mengikut syarat yang terkandung di dalam Surat Ikatan Cabutan. Waran 2001/2007 yang tidak dilaksanakan pada tarikh matang, akan kehilangan haknya dan menjadi tidak sah untuk apa-apa kegunaan. Syer-syer yang diterbitkan daripada perlaksanaan Waran 2001/2007 mempunyai taraf yang sama dalam semua hal dengan syer biasa Syarikat kecuali pemegang-pemegang hak tersebut tidak akan layak untuk sebarang hak, dividen atau pengagihan yang lain melainkan perlaksanaan Waran 2001/2007 tersebut telah dijalankan sebelum tarikh tutup buku daftar-daftar syer untuk penentuan kelayakan pada hak-hak dan pengagihan tersebut. Pada tarikh lembaran imbangan,waran 2001/2007 yang masih belum dilaksanakan berjumlah 166,297,668 unit. Pada tarikh laporan ini, tiada Waran 1996/2006 dan Waran 2001/2007 telah ditukar ke syer-syer biasa selepas akhir tahun kewangan. SKIM OPSYEN SYER PEKERJA ( SOSP ) Skim Opsyen Syer Pekerja ( SOSP ) Kedua bagi Gamuda Berhad telah diluluskan oleh para pemegang syer semasa Mesyuarat Agung Luarbiasa pada 31 Oktober 2000 dan berkuatkuasa pada 26 Disember 2000 selepas pengesahan muktamad diperolehi daripada Suruhanjaya Sekuriti. Menurut SOSP itu, opysen untuk melanggan sebanyak 28,205,000 syer biasa baru Syarikat bernilai RM1.00 setiap satu telah diberikan kepada pekerja-pekerja yang layak. Ciri-ciri utama SOSP ini adalah dinyatakan dalam Nota 18(b) kepada penyata kewangan.

67 LAPORAN PARA PENGARAH SKIM OPSYEN SYER PEKERJA ( SOSP ) (samb) Perubahan dalam opsyen dan harga perlaksanaan opsyen adalah seperti berikut: Dilaksanakan Baki belum mula diterbitkan 1 Ogos 2001 pada hingga tarikh Harga opsyen Diberikan Ditarik balik* Diterima Dilaksanakan 31 Julai 2001 laporan ini RM ,532, ,000 19,874, ,000 19,720, ,000 RM3.45 7,673,000 7,673,000 10,000 7,663,000 94, * Disebabkan oleh perletakan jawatan dan tawaran tidak diterima. MODAL SYER Di sepanjang tahun kewangan Syarikat telah menambahkan (a) modal syer dibenarkan daripada RM1 bilion ke RM2 bilion menerusi terbitan 1 bilion syer bias bernilai RM2 bilion menerusi terbitan 1 bilion syer bias bernilai RM1.00 setiap satu; dan (b) modal syer diterbitkan dan dibayar daripada RM665,191,000 ke RM665,355,000 menerusi terbitan 164,000 syer biasa baru bernilai RM1.00 setiap satu berkaitan perlaksanaan SOSP. PARA PENGARAH Para pengarah yang bertugas sejak tarikh laporan terakhir ialah: Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Y Bhg Dato Lin Yun Ling Y A M Raja Dato Seri Eleena Azlan Shah Ng Kee Leen Goon Heng Wah Y Bhg Dato Kamarul Zaman bin Mohd Ali Ha Tiing Tai Wong Chin Yen Saw Wah Theng Azmi Mat Nor Chow Chee Wah Y Bhg Datuk Ab Rahman bin Omar (dilantik pada 22 Oktober 2001) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi (dilantik pada 22 Oktober 2001) Y M Raja Dato Seri Abdul Aziz bin Raja Salim (dilantik pada 22 Oktober 2001) Chan Kuan Chan Yong Foo (meletak jawatan pada 1 Ogos 2001) Heng Teng Kuang (meletak jawatan pada 1 Ogos 2001) (dilantik sebagai pengarah silih ganti kepada Heng Teng Kuang pada 22 Disember 2000, berhenti sebagai pengarah silih ganti kepada Heng Teng Kuang pada 1 Ogos 2001 dan dilantik sebagai pengarah pada 24 September 2001) (dilantik sebagai pengarah silih ganti kepada Chan Kuan Chan Yong Foo pada 22 Disember 2000 berhenti sebagai pengarah silih ganti kepada Chan Kuan Chan Yong Foo pada 1 Ogos 2001 dan dilantik sebagai pengarah silih ganti kepada Y Bhg Dato Lin Yun Ling pada 24 September 2001) Menurut Tataurusan Pertubuhan Syarikat,Y A M Raja Dato Seri Eleena Azlan Shah, Ng Kee Leen, Saw Wah Theng,Azmi Mat Nor, Y M Raja Dato Seri Abdul Aziz bin Raja Salim,Tan Sri Dato Mohd Ramli bin Kushairi dan Y Bhg Datuk Ab Rahman bin Omar bersara menurut giliran pada Mesyuarat Agung Tahunan yang akan datang dan, oleh kerana layak, menawarkan diri mereka untuk dilantik semula.

68 LAPORAN PARA PENGARAH PARA PENGARAH (samb) Y Bhg Dato Lin Yun Ling bersara pada Mesyuarat Agung Tahunan yang akan datang menurut Kehendak Penyenaraian Bursa Saham Kuala Lumpur dan, oleh kerana layak, menawarkan dirinya untuk dilantik semula. Ahli Jawatankuasa Audit, Penamaan dan Ganjaran adalah seperti berikut: 126 Ahli Jawatankuasa Audit Y M Raja Dato Seri Abdul Aziz bin Raja Salim (Pengerusi) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Ng Kee Leen Wong Chin Yen Ahli Jawatankuasa Penamaan Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim (Pengerusi) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Wong Chin Yen Ahli Jawatankuasa Ganjaran Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim (Pengerusi) Y Bhg Dato Lin Yun Ling Y M Raja Dato Seri Abdul Aziz bin Raja Salim MANFAAT PARA PENGARAH Di sepanjang dan pada akhir tahun kewangan, Syarikat tidak menjadi pihak kepada sebarang persetujuan yang matlamatnya adalah untuk membolehkan para pengarah Syarikat mendapat manfaat melalui perolehan syer atau debentur Syarikat atau sebarang badan korporat, selain daripada opsyen syer yang diberikan menurut SOSP Syarikat. Sejak akhir tahun kewangan yang lepas, tiada pengarah telah menerima atau berhak menerima manfaat (selain daripada manfaat yang termasuk dalam jumlah ganjaran diterima atau akan diterima oleh para pengarah yang dinyatakan dalam Nota 22 kepada penyata kewangan atau gaji tetap bagi pekerja sepenuh masa Syarikat) akibat dari sebarang kontrak yang dibuat oleh Syarikat atau syarikat berkaitan dengan pengarah atau dengan firma di mana ia adalah ahli, atau dengan syarikat di mana ia mempunyai kepentingan kewangan yang besar. KEPENTINGAN PARA PENGARAH Menurut daftar pegangan syer para pengarah, kepentingan para pengarah yang memegang jawatan pada akhir tahun kewangan di dalam syer-syer waran dan opsyen Syarikat dan syarikat-syarikat berkaitan sepanjang tahun kewangan adalah seperti berikut: Bilangan Syer Biasa RM1 Setiap Satu 1 Ogos 2000/ 31 Julai tarikh perlantikan Jual 2001 Gamuda Berhad Pegangan Langsung Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 825, ,828 Y Bhg Dato Lin Yun Ling 56,848,818 56,848,818 Ng Kee Leen 14,516,114 14,516,114 Goon Heng Wah 11,471,158 11,471,158 Y Bhg Dato Kamarul Zaman bin Mohd Ali 1,498, ,000 1,218,000 Ha Tiing Tai 13,447, ,000 13,207,938 Saw Wah Theng 540, , ,000 Azmi Mat Nor 10,000 10,000 Chow Chee Wah 149, ,000 2,000 Chan Kuan Chan Yong Foo 18,178,462 2,620,000 15,558,462 Heng Teng Kuang 14,674,794 14,674,794

69 LAPORAN PARA PENGARAH KEPENTINGAN PARA PENGARAH (samb) Bilangan Syer Biasa RM1 Setiap Satu 1 Ogos 2000/ 31 Julai tarikh perlantikan Jual 2001 Gamuda Berhad Pegangan Tidak Langsung Y A M Raja Dato Seri Eleena Azlan Shah* 92,486,928 92,486,928 * Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd 127 Skim Opsyen Syer Pekerja Jumlah Opsyen 1 Ogos 2000/ Diperuntukkan tarikh pada Julai perlantikan Disember 2000 Dilaksanakan 2001 Y Bhg Dato Lin Yun Ling 500, ,000 Ng Kee Leen 500, ,000 Goon Heng Wah 500, ,000 Y Bhg Dato Kamarul Zaman bin Mohd Ali 500, ,000 Ha Tiing Tai 500, ,000 Saw Wah Theng 500, ,000 Chow Chee Wah 450, ,000 Chan Kuan Chan Yong Foo 500, ,000 Heng Teng Kuang 500, ,000 Waran 1996/2006 Jumlah Waran 1 Ogos 2000/ 31 Julai tarikh perlantikan Dilaksanakan 2001 Pegangan Langsung Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 110, ,110 Y Bhg Dato Lin Yun Ling 8,053,442 8,053,442 Ng Kee Leen 2,288,000 2,288,000 Goon Heng Wah 1,788,158 1,788,158 Y Bhg Dato Kamarul Zaman bin Mohd Ali 172, ,000 Ha Tiing Tai 1,704,000 1,704,000 Chan Kuan Chan Yong Foo 3,957,332 3,957,332 Heng Teng Kuang 3,553,076 3,553,076 Pegangan Tidak Langsung Y A M Raja Dato Seri Eleena Azlan Shah* 13,724,000 13,724,000 * Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa dalam tempoh sepuluh tahun selepas tarikh terbitan iaitu 30 Disember 1996.

70 LAPORAN PARA PENGARAH KEPENTINGAN PARA PENGARAH (samb) Waran 2001/2007 Jumlah Waran 1 Ogos 2000/ Diperuntukkan tarikh pada Julai perlantikan Februari 2001 Jual Pegangan Langsung Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 206, ,457 Y Bhg Dato Lin Yun Ling 12,240,551 12,240,551 Ng Kee Leen 4,308,335 4,308,335 Goon Heng Wah 2,996,000 2,996,000 Ha Tiing Tai 3,477,000 3,477,000 Y Bhg Dato Kamarul Zaman bin Mohd Ali 351,500 20, ,500 Saw Wah Theng 96,000 96,000 Chan Kuan Chan Yong Foo 4,433,000 4,433,000 Heng Teng Kuang 3,670,000 3,670,000 Pegangan Tidak Langsung Y A M Raja Dato Seri Eleena Azlan Shah* 23,122,000 23,122,000 * Dianggap mempunyai kepentingan menerusi Generasi Setia (M) Sdn Bhd Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa dalam tempoh enam setengah tahun selepas tarikh terbitan iaitu 22 Februari Wong Chin Yen pada akhir tahun kewangan tidak mempunyai sebarang kepentingan di dalam syer-syer, waran dan opsyen Syarikat atau syarikat-syarikat berkaitan dengannya sepanjang tahun kewangan. BILANGAN PEKERJA DAN PEJABAT BERDAFTAR Bilangan pekerja di dalam Kumpulan dan Syarikat pada akhir tahun kewangan masing-masing adalah seramai 1,232 (2000: 1,289) dan 121 (2000: 482) orang. Di sepanjang tahun kewangan, Syarikat telah memindah seramai 307 orang ke sebuah syarikat subsidiari di dalam Kumpulan. Syarikat ini adalah sebuah syarikat awam dengan liabiliti terhad, diperbadankan dan berdomisil di Malaysia, dan disenaraikan di Papan Utama Bursa Saham Kuala Lumpur. Pejabat berdaftar Syarikat terletak di 55-61, Jalan SS22/23, Damansara Jaya, Petaling Jaya. JURUAUDIT Arthur Andersen & Co. bersara dan telah menyatakan kesanggupan mereka untuk dilantik semula. Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Pengerusi Saw Wah Theng Pengarah Kewangan Petaling Jaya Tarikh: 8 November 2001

71 PENYATA PARA PENGARAH Kami, Y BHG TAN SRI DATO IR TALHA BIN HAJI MOHD HASHIM dan SAW WAH THENG, dua daripada para pengarah GAMUDA BERHAD, dengan ini menyatakan bahawa, pada pendapat para pengarah, penyata kewangan yang dibentangkan di muka surat 131 hingga 170, memberi gambaran yang benar dan saksama mengenai keadaan urusan Kumpulan dan Syarikat pada 31 Julai 2001 dan keputusan serta aliran tunai Kumpulan dan Syarikat bagi tahun berakhir pada tarikh tersebut, dan telah disediakan dengan wajarnya menurut peruntukan Akta Syarikat, 1965 dan piawaian perakaunan berkenaan yang diluluskan di Malaysia. Ditandatangani bagi pihak Lembaga menurut resolusi para pengarah Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim 129 Saw Wah Theng Petaling Jaya 8 November 2001 AKUAN BERKANUN Saya, SAW WAH THENG, pengarah yang terutamanya bertanggungjawab terhadap pengurusan kewangan GAMUDA BERHAD, dengan sesungguh dan seikhlasnya mengaku bahawa penyata kewangan yang dibentangkan di muka surat 131 hingga 170, adalah sebaik-baik pengetahuan dan kepercayaan saya betul, dan saya membuat pengakuan ini dengan sesungguhnya mempercayai bahawa ianya benar dan menurut peruntukan Akta Akuan Berkanun, Ditandatangani dan diakui sesungguhnya ) oleh penama di atas SAW WAH THENG ) di Kuala Lumpur dalam Wilayah Persekutuan ) pada 8 November 2001 ) Saw Wah Theng Di hadapan saya: Mohd Radzi bin Yasin (W327) Pesuruhjaya Sumpah

72 LAPORAN JURUAUDIT Kepada Pemegang-Pemegang Syer GAMUDA BERHAD Kami telah mengaudit penyata kewangan yang dibentangkan di muka surat 131 hingga 170. Penyata kewangan tersebut adalah tanggungjawab para pengarah Syarikat. Tanggungjawab kami adalah untuk menyatakan pendapat mengenai penyata kewangan tersebut berdasarkan audit kami. 130 Kami melaksanakan audit mengikut Piawaian Pengauditan yang diluluskan di Malaysia. Piawaian tersebut memerlukan kami merancang dan melaksanakan audit untuk mencapai kepastian munasabah mengenai samada penyata kewangan tersebut bebas daripada salah nyata yang ketara. Sesuatu audit merangkumi pemeriksaan, berdasarkan ujian, bukti yang menyokong amaun dan penyataan dalam penyata kewangan. Sesuatu audit juga merangkumi penilaian prinsip perakaunan yang digunakan dan anggaran penting yang dibuat oleh para pengarah, serta penilaian pembentangan penyata kewangan secara keseluruhannya. Kami percaya bahawa audit kami telah memberi asas munasabah untuk menyatakan pendapat kami. Pada pendapat kami, (a) penyata kewangan telah disediakan dengan wajarnya menurut peruntukan Akta Syarikat, 1965 dan piawaian perakaunan berkenaan yang diluluskan di Malaysia dan memberi gambaran yang benar dan saksama mengenai: (i) keadaan urusan Kumpulan dan Syarikat pada 31 Julai 2001 dan hasil serta aliran tunai Kumpulan dan Syarikat bagi tahun berakhir pada tarikh tersebut; dan (ii) perkara-perkara yang diperlukan oleh Seksyen 169 dalam Akta Syarikat, 1965 yang perlu dituruti di dalam penyata kewangan; (b) rekod perakaunan dan lain-lain rekod dan daftar-daftar yang dikehendaki oleh Akta untuk disimpan oleh Syarikat telah disimpan dengan sempurna menurut peruntukan Akta. Kami berpuashati bahawa penyata kewangan subsidiari-subsidiari yang telah disatukan dengan penyata kewangan Syarikat adalah dalam bentuk dan kandungan yang sesuai dan wajar bagi tujuan penyediaan penyata kewangan disatukan dan kami telah menerima maklumat dan penjelasan yang memuaskan sebagaimana dikehendaki oleh kami bagi tujuan tersebut. Laporan juruaudit bagi penyata kewangan subsidiari-subsidiari tidak tertakluk kepada sebarang syarat, dan bagi subsidiarisubsidiari yang diperbadankan di Malaysia tidak termasuk sebarang teguran di bawah seksyen kecil (3) Seksyen 174 Akta tersebut. Arthur Andersen & Co. No.AF 0103 Public Accountants Abraham Verghese a/l T V Abraham No. 1664/10/02(J) Rakan Kongsi Firma Tarikh: 8 November 2001

73 LEMBARAN IMBANGAN DISATUKAN 31 Julai Nota RM 000 RM 000 Aset Semasa Tunai dan baki bank 7,747 3,874 Deposit 3 352, ,204 Penerimaan 4 550, ,235 Inventori 6 15,611 15,347 Pembangunan hartanah 7 362,316 99,967 Hutang daripada pelanggan untuk kontrak pembinaan 8 73,530 35, ,361, ,963 Liabiliti Semasa Pinjaman bank 9 8,915 10,691 Bon 19 (a) 115,000 Pembayaran ,008 93,208 Hutang kepada pelanggan untuk kontrak pembinaan 8 82,077 30,243 Cukai 8,853 25,901 Dividen dicadangkan 19,281 26, , ,770 Aset Semasa Bersih 651, ,193 Lain-lain Pelaburan 12 3,440 3,975 Syarikat-syarikat Bersekutu , ,484 Hartanah, Loji dan Peralatan , ,005 Muhibah Dari Penyatuan 16 3,033 5,211 Hak-hak Konsesi 17 70,000 1,728,089 1,218,868 Dibiayai oleh: Modal Syer , ,191 Rizab 550, ,424 1,216,015 1,072,615 Kepentingan Minoriti 3,351 18,490 Liabiliti Jangka Panjang , ,763 1,728,089 1,218,868 Nota-nota yang disertakan merupakan sebahagian asasi lembaran imbangan ini.

74 PENYATA PENDAPATAN DISATUKAN bagi tahun berakhir 31 Julai Nota RM 000 RM Perolehan , ,488 Lain-lain pendapatan operasi 21 8,134 8,527 Perubahan dalam stok barangan siap dan kerja dalam proses 1,170 (13,627) Pembelian bahan mentah dan bahan penggunaan (20,184) (29,530) bahan perdagangan (14,805) (79) Kos kontrak pembinaan dicaj sebagai perbelanjaan kontrak 8 (604,544) (419,098) Kos pasti pengeluaran (2,216) (2,346) Kos tanah dan pembangunan (4,420) Kos kakitangan 22 (25,015) (24,864) Susutnilai (9,171) (10,410) Lain-lain kos operasi 23 (15,340) (24,697) Keuntungan dari operasi 144, ,364 Kos kewangan 24 (15,125) (6,045) Pendapatan faedah 14,276 11,363 Perkongsian keuntungan syarikat-syarikat bersekutu 131,992 79,380 Keuntungan sebelum cukai 276, ,062 Cukai 25 (44,505) (34,706) Perkongsian cukai syarikat-syarikat bersekutu (35,345) (22,615) Keuntungan selepas cukai 196, ,741 Kepentingan minoriti (4,477) (1,926) Keuntungan bersih bagi tahun semasa 191, ,815 Pendapatan sesyer 27 Pendapatan asas sesyer 29 sen 23 sen Pendapatan cair penuh sesyer 28 sen 22 sen Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

75 PENYATA PERUBAHAN DALAM EKUITI DISATUKAN bagi tahun berakhir 31 Julai 2001 Modal Premium Keuntungan syer syer * tertahan ** Jumlah RM 000 RM 000 RM 000 RM 000 Pada 1 Ogos , , , ,779 Perlaksanaan waran-waran 19,023 47,625 66,648 Perlaksanaan SOSP 28,150 72, ,723 Penerbitan syer bonus 322, ,214 Penukaran untuk terbitan bonus (270,992) (51,222) (322,214) Keuntungan bersih bagi tahun semasa 146, ,815 Dividen (Nota 26) (53,350) (53,350) 133 Pada 31 Julai ,191 39, ,385 1,072,615 Perlaksanaan SOSP Belanja berhubung dengan pengumpulan modal (3,182) (3,182) Wang permohonan syer Keuntungan bersih bagi tahun semasa 191, ,708 Dividen (Nota 26) (45,774) (45,774) Pada 31 Julai ,389 36, ,319 1,216,015 * Tidak boleh diagihkan ** Boleh diagihkan Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

76 PENYATA ALIRAN TUNAI DISATUKAN bagi tahun berakhir 31 Julai RM 000 RM 000 Aliran Tunai dari Aktiviti Operasi 134 Keuntungan sebelum cukai 276, ,062 Pelarasan untuk: Keuntungan berpunca daripada pembangunan hartanah (1,396) Keuntungan berpunca daripada kontrak pembinaan (146,912) (159,311) Susutnilai 9,171 10,410 Hartanah, loji dan peralatan dihapuskira Kerugian/(keuntungan) tidak direalisasikan atas tukaran asing 20 (17) Peruntukan bersih untuk ganjaran persaraan pekerja Peruntukan untuk penyusutan nilai pelaburan 535 Peruntukan untuk hutang ragu Pemulihan peruntukan untuk penyusutan nilai pelaburan (57) Keuntungan dari jualan hartanah, loji dan peralatan (799) (875) Inventori dihapuskira Perkongsian keuntungan syarikat-syarikat bersekutu (131,992) (79,380) Pelunasan muhibah dari penyatuan Pelunasan muhibah dari sebuah syarikat bersekutu 2,313 Pendapatan faedah (14,276) (11,363) Perbelanjaan faedah 15,125 6,045 Keuntungan/(kerugian) operasi sebelum perubahan modal kerja 9,284 (27,097) Pengurangan/(penambahan) modal kerja: Inventori (436) (10,196) Penerimaan (369,672) 92,160 Pembangunan hartanah (119,457) (99,967) Hutang bersih daripada/(kepada) pelanggan untuk kontrak pembinaan 165, ,541 Pembayaran 332,231 24,298 Pinjaman jangka pendek 1, Tunai dihasilkan daripada operasi 19, ,634 Dividen diterima dari syarikat-syarikat bersekutu 12,968 3,031 Cukai dibayar (59,964) (18,382) Perbelanjaan faedah dibayar (18,084) (13,081) Ganjaran persaraan pekerja dibayar (144) Tunai bersih (digunakan dalam)/dihasilkan daripada aktiviti operasi (45,941) 92,058

77 PENYATA ALIRAN TUNAI DISATUKAN bagi tahun berakhir 31 Julai RM 000 RM 000 Aliran Tunai dari Aktiviti Pelaburan Perolehan daripada jualan pelaburan 35 Pembelian hartanah, loji dan peralatan (14,475) (24,979) Perolehan daripada jualan hartanah, loji dan peralatan 1,732 1,682 Pelaburan dalam syarikat-syarikat bersekutu (19,465) (175,129) Aliran tunai bersih daripada pengambilalihan subsidiari (Nota 13) (69,816) Pembayaran kepada pemegang syer minoriti untuk pengambilalihan subsidiari (18,400) Pendapatan faedah diterima 14,276 11, Tunai bersih digunakan dalam aktiviti pelaburan (106,148) (187,028) Aliran Tunai dari Aktiviti Pembiayaan Perolehan daripada penukaran waran 66,550 Perolehan daripada SOSP dan wang permohonan syer ,721 Perolehan daripada terbitan bon dan waran 400,000 Pembayaran balik bon (75,000) Belanja berhubung dengan pengumpulan modal (3,182) Dividen dibayar kepada pemegang syer (53,219) (44,450) Dividen dibayar kepada pemegang syer minoriti (193) (66) Tunai bersih dihasilkan daripada aktiviti pembiayaan 344,054 47,755 Penambahan/(pengurangan) bersih tunai dan tunai setara 191,965 (47,215) Tunai dan tunai setara pada 1 Ogos 2000/ , ,806 Tunai dan tunai setara pada 31 Julai 359, ,591 Tunai dan tunai setara terdiri daripada: Tunai dan baki bank 7,747 3,874 Deposit tetap 352, ,204 Overdraft bank (308) (3,487) 359, ,591 Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

78 LEMBARAN IMBANGAN 31 Julai Nota RM 000 RM 000 Aset Semasa 136 Tunai dan baki bank 556 1,738 Deposit 3 58, ,190 Penerimaan 4 362, ,405 Hutang daripada subsidiari 5 313, ,110 Inventori 6 1,099 1,012 Hutang daripada pelanggan untuk kontrak pembinaan 8 2,376 3,009 Liabiliti Semasa 738, ,464 Bon 19 (a) 115,000 Pembayaran 10 45,398 59,139 Hutang kepada subsidiari 11 57,750 22,840 Hutang kepada pelanggan untuk kontrak pembinaan 8 34,497 26,985 Cukai 2,889 21,038 Dividen dicadangkan 19,281 26, , ,729 Aset Semasa Bersih 463, ,735 Lain-lain Pelabuhan Subsidiari-subsidiari ,140 69,540 Syarikat-syarikat Bersekutu , ,965 Hartanah, Loji dan Peralatan 15 59,492 61,344 Dibiayai oleh: 1,313,388 1,004,302 Modal Syer , ,191 Rizab 237, , , ,034 Liabiliti Jangka Panjang , ,268 1,313,388 1,004,302 Nota-nota yang disertakan merupakan sebahagian asasi lembaran imbangan ini.

79 PENYATA PENDAPATAN bagi tahun berakhir 31 Julai Nota RM 000 RM 000 Perolehan , ,397 Lain-lain pendapatan operasi 21 20,853 10,788 Perubahan dalam stok barangan siap 87 1,012 Kos kontrak pembinaan dicaj sebagai perbelanjaan kontrak 8 (241,921) (456,632) Kos kakitangan 22 (13,309) (13,232) Susutnilai (4,338) (2,527) Lain-lain kos operasi 23 (2,150) (5,516) 137 Keuntungan dari operasi 103, ,290 Kos kewangan 24 (14,628) (5,645) Pendapatan faedah 7,568 9,226 Keuntungan sebelum cukai 96, ,871 Cukai 25 (24,539) (29,539) Keuntungan bersih bagi tahun semasa 72,399 85,332 Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

80 PENYATA PERUBAHAN DALAM EKUITI bagi tahun berakhir 31 Julai 2001 Modal Premium * Keuntungan ** syer syer tertahan Jumlah RM 000 RM 000 RM 000 RM Pada 1 Ogos , , , ,681 Perlaksanaan waran 19,023 47,625 66,648 Perlaksanaan SOSP 28,150 72, ,723 Penerbitan syer bonus 322, ,214 Penukaran untuk terbitan bonus (270,992) (51,222) (322,214) Keuntungan bersih bagi tahun semasa 85,332 85,332 Dividen (Nota 26) (53,350) (53,350) Pada 31 Julai ,191 39, , ,034 Perlaksanaan SOSP Belanja berhubung dengan pengumpulan modal (3,182) (3,182) Wang permohonan syer Keuntungan bersih bagi tahun semasa 72,399 72,399 Dividen (Nota 26) (45,774) (45,774) Pada 31 Julai ,389 36, , ,125 * Tidak boleh diagihkan ** Boleh diagihkan Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

81 PENYATA ALIRAN TUNAI bagi tahun berakhir 31 Julai RM 000 RM 000 Aliran Tunai dari Aktiviti Operasi Keuntungan sebelum cukai 96, ,871 Pelarasan untuk: Keuntungan berpunca daripada kontrak pembinaan (102,942) (121,777) Susutnilai 4,338 2,527 Hartanah, loji dan peralatan dihapuskira Peruntukan bersih untuk ganjaran persaraan pekerja (5) Keuntungan daripada jualan hartanah, loji dan peralatan (690) (508) Pendapatan faedah (7,568) (9,226) Pendapatan dividen (14,218) (4,573) Perbelanjaan faedah 14,628 5, (Kerugian)/keuntungan operasi sebelum perubahan modal kerja (9,474) (12,891) Inventori (87) (1,012) Penerimaan (213,507) 93,741 Hutang daripada subsidiari (126,761) (131,944) Hutang bersih daripada/(kepada) pelanggan untuk kontrak pembinaan 118, ,012 Pembayaran (17,818) 4,929 Hutang kepada subsidiari 34, Tunai (digunakan dalam)/dihasilkan daripada operasi (214,400) 85,452 Cukai dibayar (42,688) (11,986) Perbelanjaan faedah dibayar (17,587) (11,290) Ganjaran persaraan pekerja dibayar (144) Tunai bersih (digunakan dalam)/dihasilkan daripada aktiviti operasi (274,675) 62,032 Aliran Tunai dari Aktiviti Pelaburan Perolehan daripada jualan lain-lain pelaburan (35) Pembelian hartanah, loji dan peralatan (3,011) (7,166) Perolehan daripada jualan hartanah, loji dan peralatan 956 1,464 Pelaburan dalam syarikat-syarikat subsidiari (111,600) (4,040) Pelaburan dalam syarikat-syarikat bersekutu (19,465) (175,129) Pendapatan faedah diterima 7,284 9,197 Pendapatan dividen diterima 13,178 3,293 Tunai bersih digunakan dalam aktiviti pelaburan (112,658) (172,416)

82 PENYATA ALIRAN TUNAI bagi tahun berakhir 31 Julai RM 000 RM 000 Aliran Tunai dari Aktiviti Pembiayaan 140 Perolehan daripada penukaran waran 66,550 Perolehan daripada SOSP dan wang permohonan syer ,721 Pembayaran dividen kepada pemegang syer (53,219) (44,450) Perolehan daripada terbitan bon dan waran 400,000 Belanja berhubung dengan pengumpulan modal (3,182) Pembayaran balik bon (75,000) Tunai bersih dihasilkan daripada aktiviti pembiayaan 344,247 47,821 Pengurangan bersih tunai dan tunai setara (43,086) (62,563) Tunai dan tunai setara pada 1 Ogos 101, ,491 Tunai dan tunai setara pada 31 Julai 58, ,928 Tunai dan tunai setara terdiri daripada: Tunai dan baki di bank 556 1,738 Deposit tetap 58, ,190 58, ,928 Nota-nota yang disertakan merupakan sebahagian asasi penyata ini.

83 NOTA-NOTA KEPADA KEWANGAN 31 Julai KEGIATAN UTAMA Kegiatan utama Syarikat adalah pegangan pelaburan dan pembinaan kejuruteraan awam. Kegiatan-kegiatan utama syarikat-syarikat subsidiari dihuraikan dalam Nota 13. Tiada sebarang perubahan penting dalam kegiatan-kegiatan utama ini di sepanjang tahun kewangan selain daripada kegiatankegiatan syarikat-syarikat subsidiari baru. 2 DASAR-DASAR PERAKAUNAN PENTING 141 (a) Asas Perakaunan Penyata kewangan Kumpulan dan Syarikat telah disediakan menurut kelaziman kos sejarah selain daripada yang dinyatakan oleh dasar-dasar perakaunan di bawah dan mematuhi peruntukan Akta Syarikat, 1965 dan piawaian perakaunan berkenaan yang diluluskan di Malaysia. (b) Asas Penyatuan Penyata kewangan disatukan termasuk penyata kewangan Syarikat dan kesemua subsidiarinya yang disediakan hingga akhir tahun kewangan. Subsidiari adalah syarikat-syarikat di mana Kumpulan memiliki kuasa untuk mengawal dasardasar kewangan dan operasinya untuk memperoleh manfaat daripada aktiviti-aktivitinya. Sesebuah usahasama adalah dianggap sebagai sebuah subsidiari apabila Kumpulan memiliki kuasa untuk mengawal dasar-dasar kewangan dan operasinya untuk memperolehi manfaat daripada aktiviti-aktivitinya. Syarikat-syarikat subsidiari yang diambil alih dan dilupuskan sepanjang tahun telah diambilkira dalam penyata kewangan disatukan dari tarikh pengambilalihan sehingga tarikh pelupusan. Urusniaga di antara Syarikat telah dimansuhkan semasa penyatuan dan penyata kewangan disatukan hanya mencerminkan urusniaga dengan pihak ketiga sahaja. Kerugian yang belum direalisasikan telah dimansuhkan semasa penyatuan kecuali apabila kosnya tidak boleh dipulihkan. Perbezaan harga belian atas nilai saksama aset-aset bersih subsidiari-subsidiari pada tarikh pengambilalihan diambilkira dalam lembaran imbangan disatukan sebagai muhibah atau rizab dari penyatuan. Muhibah dari penyatuan dilunaskan sepanjang anggaran hayat kegunaannya. Muhibah dari penyatuan akan dinilai pada setiap tarikh lembaran imbangan dan akan disusutkan nilai untuk penyusutan nilai yang dianggap perlu. (c) Pertukaran dan Terjemahan Matawang Urusniaga matawang asing telah ditukar kepada matawang Ringgit Malaysia pada kadar pertukaran yang berkuatkuasa pada tarikh urusniaga. Aset dan liabiliti matawang asing yang bersifat kewangan pada tarikh lembaran imbangan telah diterjemahkan ke matawang Ringgit Malaysia pada kadar yang berkuatkuasa pada tarikh lembaran imbangan. Semua perbezaan pertukaran telah diambilkira di dalam penyata pendapatan. Penyata kewangan subsidiari-subsidiari asing yang telah disatukan telah diterjemahkan pada kadar pertukaran yang berkuatkuasa pada akhir tahun kewangan untuk lembaran imbangan dan pada kadar pertukaran yang berkuatkuasa pada tarikh urusniaga untuk penyata pendapatan. Semua perbezaan terjemahan telah diambilkira di dalam rizab. Kadar pertukaran untuk setiap unit matawang asing yang berkuatkuasa pada tarikh lembaran imbangan adalah seperti berikut: RM RM Dollar Amerika Syarikat Dollar Singapura

84 NOTA-NOTA KEPADA KEWANGAN 31 Julai DASAR-DASAR PERAKAUNAN PENTING (samb) (d) Hartanah, Loji dan Peralatan dan Susutnilai Hartanah, loji dan peralatan dinyatakan pada kos atau penilaian setelah ditolak susutnilai terkumpul dan kerugian kerosakan terkumpul. 142 Nilai bawa hartanah, loji dan peralatan akan dinilai pada setiap tarikh lembaran imbangan samada terdapat tanda-tanda pengurangan nilai. Jika terdapat tanda-tanda tersebut, nilai aset boleh pulih bagi hartanah, loji dan peralatan akan dianggarkan. Kerugian kerosakan akan diambilkira apabila nilai bawa untuk satu-satu item hartanah, loji dan peralatan melebihi nilai boleh dipulihnya. Kerugian kerosakan ini akan diambilkira di dalam penyata pendapatan melainkan ia mengurangkan penilaian terdahulu, kerugian ini akan diambilkira di dalam ekuiti. Peningkatan dalam nilai boleh pulih yang berikutnya akan dikurangkan dengan jumlah yang akan diiktiraf sebagai susutnilai sekiranya tiada penghapuskiraan berlaku. Susutnilai tidak diperuntukkan bagi tanah milikbebas dan pembinaan sedang dijalankan. Susutnilai diperuntukkan bagi tanah pegangpajak di sepanjang tempoh pajakan. Susutnilai hartanah, loji dan peralatan yang lain diperuntukkan mengikut kaedah garis lurus untuk menghapuskirakan kos atau penilaian setiap aset ke nilai baki masing-masing di sepanjang anggaran hayat kegunaannya berdasarkan kadar tahunan berikut: Tanah pegangpajak jangkapanjang Sepanjang 60 tahun Tanah pegangpajak jangkapendek dan bangunan di atasnya Sepanjang 30 hingga 50 tahun Bangunan dan pembaikan 2% Loji, mesin dan peralatan pejabat 12% 33% Perabot dan kelengkapan 10% 15% Kenderaan bermotor 12% 25% Tanah milik bebas, tanah pegang pajak jangka panjang dan pendek dan bangunan di dalam Kumpulan dan Syarikat belum dinilaikan semula semenjak penilaian semula yang pertama pada tahun Para pengarah belum lagi mengamalkan polisi penilaian semula secara teratur untuk aset-aset tersebut. Sepertimana yang dibenarkan di bawah peruntukan peralihan dalam Lembaga Piawaian Perakaunan Malaysia No. 15: Hartabenda, Loji Mesin dan Peralatan, aset berkaitan terus dinyatakan pada nilaian tahun 1991 ditolak susutnilai terkumpul. (e) Inventori Inventori dinyatakan pada harga terendah di antara kos (ditentukan pada asas kos purata wajaran) dan nilai pasaran bersih. Kos barangan siap dan kerja dalam proses adalah terdiri daripada kos bahan mentah, kos buruh langsung dan kos pasti pengeluaran yang berkenaan. (f) Manfaat Persaraan Sumbangan adalah dibuat kepada Skim Dana Persaraan Syarikat, satu pelan manfaat tertakrif. Kos faedah persaraan di bawah Skim ini adalah ditentukan pada kaedah akruan penilaian faedah. Kesemua kos perkhidmatan semasa, kos perkhidmatan lepas dan pelarasan pengalaman yang berhubung kait dengan Skim Dana Persaraan Syarikat adalah diambilkira menerusi penyata pendapatan secara sistematik sepanjang baki tempoh perkhidmatan ahli yang boleh dijangka. Syarikat telah menyediakan pengiraan untuk menentukan peruntukan bagi skim dan tiada penilaian aktuari dilaksanakan. Para pengarah berpendapat bahawa kesan peruntukan tersebut ke atas penyata kewangan adalah tidak material untuk menyokong perlantikan penilai aktuari.

85 NOTA-NOTA KEPADA KEWANGAN 31 Julai DASAR-DASAR PERAKAUNAN PENTING (samb) (g) Pengiktirafan Perolehan (i) (ii) Perolehan dari kontrak pembinaan dan pembangunan hartanah adalah diiktiraf berasaskan kaedah peratusan siap. Peratusan siap diukur berasaskan kepada nisbah kos yang dibelanjakan sehingga sekarang dibandingkan dengan jumlah kos jangkaan di mana hasil projek-projek tersebut boleh dianggarkan dengan pasti. Semua kerugian yang dijangka telah diperuntukkan sepenuhnya. Peratusan siap diukur berasaskan kepada pengesahan kerja pembinaan yang terkini. Perolehan berkaitan dengan jualan barangan adalah diiktiraf selepas cukai jualan dan diskaun apabila penghantaran telah berlaku dan pemindahan risiko dan ganjaran telah siap. 143 (h) Penerimaan Penerimaan adalah dibawa pada jangkaan nilai yang boleh direalisasikan. Semua hutang lapuk yang diketahui dihapuskirakan. Peruntukan dibuat bagi hutang ragu berdasarkan kepada semakan semula tertentu baki tertunggak pada akhir tahun kewangan. (i) Hutang daripada/kepada Pelanggan Untuk Kontrak Pembinaan Hutang daripada pelanggan untuk kontrak pembinaan adalah hutang bersih daripada kos yang dibelanjakan bersama dengan keuntungan yang diiktiraf selepas ditolak jumlah kerugian yang diiktirafkan dan tuntutan ansuran untuk semua kontrak dalam proses, di mana kos dibelanjakan bersama dengan keuntungan diiktiraf (ditolak kerugian diiktiraf) melebihi tuntutan ansuran. Hutang kepada pelanggan untuk kontrak pembinaan adalah hutang bersih daripada kos yang dibelanjakan bersama dengan keuntungan yang diiktiraf selepas ditolak jumlah kerugian yang diiktirafkan dan tuntutan ansuran untuk semua kontrak dalam proses, di mana tuntutan ansuran melebihi kos dibelanjakan bersama dengan keuntungan diiktiraf (ditolak kerugian diiktiraf). Kos terdiri daripada kos bahan mentah, buruh langsung, jumlah sub-kontrak dan kos pasti dibayar atau terakru terkini yang berkaitan. (j) Cukai Tertunda Cukai tertunda diperuntukkan di bawah kaedah liabiliti bagi semua perbezaan masa yang penting kecuali di mana terdapat bukti munasabah bahawa perbezaan masa ini akan berterusan pada masa hadapan. (k) Pelaburan Pelaburan di dalam subsidiari-subsidiari, dan lain-lain pelaburan adalah dinyatakan pada kos ditolak sebarang peruntukan untuk penyusutan nilai kekal. Apabila pelaburan dijual, perbezaan di antara perolehan bersih daripada jualan dan nilai bawa pelaburan adalah dicaj atau dikredit ke penyata pendapatan. (l) Pembangunan Hartanah Kos tanah dan pembangunan di mana sebahagian besar kerja pembangunan telah dijalankan dan dijangka akan siap dalam pusingan operasi biasa adalah dikelaskan sebagai pembangunan hartanah. Pembangunan hartanah dinyatakan pada kos campur keuntungan ditolak kerugian dan tuntutan ansuran yang berkaitan. Kos merangkumi kos tanah, segala kos pembangunan langsung dan lain-lain kos pembangunan yang berkaitan, termasuk faedah yang timbul sepanjang tempoh pembangunan yang aktif.

86 NOTA-NOTA KEPADA KEWANGAN 31 Julai DASAR-DASAR PERAKAUNAN PENTING (samb) (m) Tunai dan Tunai Setara Tunai dan tunai setara termasuk tunai dalam tangan dan di bank serta deposit panggilan, selepas mengambilkira overdraf bank yang terhutang. (n) Pelaburan dalam Syarikat-syarikat Bersekutu 144 Kumpulan menganggap syarikat-syarikat bersekutu adalah syarikat-syarikat di mana ia mempunyai kepentingan ekuiti jangka panjang di antara 20 hingga 50 peratus dan di mana ia mempunyai pengaruh penting atas polisi-polisi kewangan dan operasi syarikat-syarikat bersekutu. Pelaburan dalam syarikat-syarikat bersekutu adalah dinyatakan dalam penyata kewangan disatukan melalui kaedah ekuiti berdasarkan penyata kewangan syarikat-syarikat bersekutu. Pelaburan di dalam syer keutamaan boleh tebus dalam syarikat-syarikat bersekutu adalah dinyatakan pada kos ditolak sebarang peruntukan untuk penyusutan nilai kekal. Keuntungan yang belum direalisasikan hasil daripada urusniaga antara Kumpulan dengan syarikat-syarikat bersekutu telah dimansuhkan sebahagiannya setakat kepentingan Kumpulan dalam syarikat-syarikat bersekutu tersebut; kerugian yang belum direalisasikan telah dimansuhkan kecuali apabila kosnya tidak boleh dipulihkan. Perkongsian Kumpulan dalam keuntungan selepas pengambilalihan setelah ditolak kerugian syarikat-syarikat bersekutu telah diambilkira dalam penyata pendapatan disatukan dan kepentingan Kumpulan dalam syarikat-syarikat bersekutu adalah dinyatakan pada kos dicampur perkongsian Kumpulan dalam keuntungan terkumpul dan rizab selepas pengambilalihan. Muhibah dari perolehan syarikat-syarikat bersekutu telah dilunaskan sepanjang anggaran hayat kegunaannya, tertakluk kepada penilaian tahunan untuk mengenalpasti sebarang penyusutan nilai kekal pada nilai bawa. (o) Hak-hak Konsesi Hak-hak konsesi adalah kos-kos berkaitan yang dibelanjakan, yang berhubung dengan pengaturan di mana Kumpulan dapat memperoleh manfaat ekonomi di sepanjang tahun-tahun yang akan datang. Hak-hak konsesi akan dilunaskan di sepanjang anggaran hayat kegunaannya, tertakluk kepada penilaian tahunan untuk mengenalpasti sebarang penyusutan nilai kekal pada nilai bawa. (p) Usahasama Penyata kewangan Kumpulan termasuk semua usahasama yang telah dimeterai oleh Syarikat di mana Syarikat mengambilkira usahasama sebagai usahasama operasi yang berdasarkan kepada pembahagian keuntungan menurut kepentingan ekuiti sebanyak 70%. Perkongsian keuntungan atau kerugian dalam usahasama telah diambilkira di dalam penyata kewangan Syarikat berdasarkan peratusan perkongsian keuntungan atau kerugian di dalam setiap usahasama. 3 DEPOSIT Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Deposit di bank berlesen 335, ,384 57,136 64,370 Deposit di syarikat diskaun 16,350 35,820 1,150 35, , ,204 58, ,190

87 NOTA-NOTA KEPADA KEWANGAN 31 Julai PENERIMAAN Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Penerimaan perdagangan 380, , ,961 86,419 Wang tertahan 13,881 20,786 13,881 20,786 Hutang daripada sebuah syarikat bersekutu (perdagangan) 98,414 Lain-lain penerimaan 43,819 44,693 19,860 40,367 Dividen yang akan diterima 16,833 16,833 16,833 16, , , , ,405 Peruntukan bagi hutang ragu (2,994) (3,722) (2,000) (2,000) 550, , , ,405 Termasuk dalam penerimaan perdagangan Kumpulan dan Syarikat adalah hutang daripada usahasama sebanyak RM349,788,000 (2000: RM74,537,000) dan RM312,235,000 (2000: RM74,537,000) masing-masing. Termasuk dalam lain-lain penerimaan Kumpulan dan Syarikat adalah hutang daripada sebuah syarikat bersekutu sebanyak RM15,000,000 (2000: RM14,700,000) berhutang dengan pelangganan syer keutamaan boleh tebus. 5 HUTANG DARIPADA SUBSIDIARI Termasuk dalam hutang daripada subsidiari-subsidiari adalah hutang daripada sebuah subsidiari usahasama yang tidak diperbadankan sebanyak RM38,945,000. Perkongsian Syarikat dalam aset-aset dan liabiliti-liabiliti subsidiari usahasama yang tidak diperbadankan adalah seperti berikut: RM 000 RM 000 Aset semasa 262,360 Aset bukan semasa 231 Liabiliti semasa (231,137) Liabiliti bukan semasa (24,500) Aset bersih 6,954 Modal kerja tambahan 31,991 38,945 Termasuk dalam hutang daripada subsidiari-subsidiari adalah pendahuluan kepada sebuah subsidiari bersama faedah terakru sebanyak RM18,398,000 (2000: RM17,522,000) di mana hutang tersebut adalah tidak bercagar, dikenakan faedah pada kadar 2.5% (2000: 2.5%) setahun dan tidak mempunyai tempoh pembayaran balik yang tetap. Baki amaun terhutang daripada subsidiari-subsidiari adalah tidak bercagar, tanpa faedah dan tidak mempunyai tempoh pembayaran balik yang tetap.

88 NOTA-NOTA KEPADA KEWANGAN 31 Julai INVENTORI Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Pada kos: 146 Bahan-bahan mentah 273 1,486 Kerja dalam proses 1, Barangan siap 845 4,335 Crusher run dan kelompok-kelompok 805 Barangan penggunaan setor dan bekalan 1,099 1,012 1,099 1,012 4,623 7,169 1,099 1,012 Pada nilai pasaran bersih: Bahan-bahan mentah 6,873 7,123 Kerja dalam proses 1,055 Barangan siap 4,115 10,988 8,178 15,611 15,347 1,099 1,012 7 PEMBANGUNAN HARTANAH Kumpulan RM 000 RM 000 Tanah pegangan bebas, pada kos 294,981 38,688 Tanah pegangpajak, pada kos 60,656 60,656 Perbelanjaan pembangunan 11, Keuntungan diiktiraf 1, ,131 99,967 Tolak: Tuntutan ansuran diterima dan akan diterima (5,815) 362,316 99,967 Termasuk di dalam perbelanjaan pembangunan yang dibelanjakan sepanjang tahun adalah: Susutnilai 372 Kos kakitangan 944 Tanah pegangan bebas dengan jumlah yang dibawa sebanyak RM255,839,000 telah dicagarkan kepada sebuah bank berlesen untuk jaminan bank yang diberikan kepada sebuah subsidiari, berhubung baki pertimbangan belian bagi tanah yang diperolehi oleh subsidiarinya seperti yang dinyatakan dalam Nota 19(c).

89 NOTA-NOTA KEPADA KEWANGAN 31 Julai HUTANG DARIPADA/(KEPADA) PELANGGAN UNTUK KONTRAK PEMBINAAN Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Kos pembinaan 2,966,698 2,669,226 2,310,277 2,412,056 Keuntungan diiktiraf selepas ditolak kerugian 252, , , ,472 Tuntutan ansuran diterima dan akan diterima (3,228,072) (2,886,173) (2,542,232) (2,650,504) Diwakili oleh: (8,547) 5,093 (32,121) (23,976) 147 Hutang daripada pelanggan untuk kontrak pembinaan 73,530 35,336 2,376 3,009 Hutang kepada pelanggan untuk kontrak pembinaan (82,077) (30,243) (34,497) (26,985) (8,547) 5,093 (32,121) (23,976) Termasuk di dalam hutang daripada/(kepada) pelanggan untuk kontrak pembinaan adalah: Kos kontrak pembinaan yang dibelanjakan sepanjang tahun 1,147, , , ,997 Kos kontrak pembinaan yang diiktirafkan sebagai perbelanjaan kontrak sepanjang tahun 604, , , ,632 Termasuk di dalam kos kontrak pembinaan yang dibelanjakan sepanjang tahun adalah: Susutnilai 7,368 5, ,180 Perbelanjaan faedah 7,036 7,036 7,036 5,645 Kos kakitangan 19,184 15,032 5,443 11,210 Sewa peralatan 19,954 14,610 1,250 8,205 Sewa premis 66 9 PINJAMAN BANK Kumpulan RM 000 RM 000 Overdraf bank 308 3,487 Resit amanah penerimaan bank 8,607 7,204 8,915 10,691 Pinjaman bank telah dicagarkan ke atas aset-aset tertentu Kumpulan dan kadar faedah yang dikenakan adalah di antara 3.90% hingga 8.30% (2000: 3.95% hingga 8.50%) setahun.

90 NOTA-NOTA KEPADA KEWANGAN 31 Julai PEMBAYARAN Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Pembayaran perdagangan 227,946 47,814 15,547 24,371 Lain-lain pembayaran 86,833 45,394 29,851 34,768 Hutang kepada sebuah syarikat bersekutu 161, ,008 93,208 45,398 59,139 Termasuk dalam pembayaran perdagangan Kumpulan dan Syarikat adalah wang tertahan masing-masing sebanyak RM40,285,000 (2000: RM7,612,000) dan RM8,881,000 (2000: RM7,612,000). Termasuk dalam lain-lain pembayaran Kumpulan adalah jumlah hutang sebanyak RM47,041,000 yang perlu dibayar balik dalam tempoh 12 bulan berhubung baki pertimbangan belian bagi tanah yang diperolehi oleh subsidiarinya seperti yang dinyatakan dalam Nota 19(c). Hutang kepada sebuah syarikat bersekutu adalah pendahuluan berhubung kontrak pembinaan yang tidak bercagar, tanpa faedah dan dibayar balik secara ansuran yang dituntut oleh Kumpulan. 11 HUTANG KEPADA SUBSIDIARI Hutang kepada syarikat-syarikat subsidiari adalah tidak bercagar, tanpa faedah dan tidak mempunyai tempoh pembayaran balik yang tetap. 12 LAIN-LAIN PELABURAN Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Pada kos Syer tersiarharga, di Malaysia 3,703 3, Syer tak tersiarharga, di Malaysia Pelaburan dalam keanggotaan kelab yang boleh dipindahmilik ,418 4, Peruntukan untuk penyusutan nilai pelaburan nilai pelaburan dalam syer tersiarharga, di Malaysia (978) (443) 3,440 3, Harga pasaran Syer tersiarharga, di Malaysia 2,972 3,

91 NOTA-NOTA KEPADA KEWANGAN 31 Julai SUBSIDIARI-SUBSIDIARI Syarikat RM 000 RM 000 Syer tidak tersiarharga, pada kos 181,140 69,540 Subsidiari-subsidiari Syarikat adalah seperti berikut: Kepentingan Berkesan Modal Kegiatan Nama Syarikat Berbayar % % Utama 149 Gammau Construction Sdn Bhd RM6,000, Kejuruteraan awam dan pembinaan kerja tanah Gamuda Engineering Sdn Bhd RM770, Pembinaan insfrastruktur dan kejuruteraan awam Gamuda Paper Industries Sdn Bhd RM18,000, Perkilangan dan penjualan barangan kertas dan barangan yang berkaitan Gamuda Trading Sdn Bhd RM109, Perdagangan bahan pembinaan Gamuda Overseas Investment Ltd US$100, Pegangan pelaburan Gamuda (India) Pte Ltd Rps100, Tidak aktif G.B. Kuari Sdn Bhd* RM750, Pengendalian kuari dan perataan jalanraya dan perkilangan premix GPI Trading Sdn Bhd** RM Perdagangan kertas dan barangan yang berkaitan GKTJV*** 70 Pembinaan instrastruktur dan kejuruteraan awam Ganaz Bina Sdn Bhd RM3,000, Pembinaan kejuruteraan awam GIT Services Sdn Bhd RM100, Perdagangan dan perkhidmatan teknoloji maklumat Harum Intisari Sdn Bhd RM5,350, Pembangunan hartanah Masterpave Sdn Bhd RM2,500, Perkilangan, penyediaan dan perletakan barangan perataan jalanraya Megah Sewa Sdn Bhd RM100, Penyewaan loji dan mesin Megah Capital Sdn Bhd RM Perdagangan dan pegangan pelaburan

92 NOTA-NOTA KEPADA KEWANGAN 31 Julai SUBSIDIARI-SUBSIDIARI (samb) Kepentingan Berkesan Modal Kegiatan Nama Syarikat Berbayar % % Utama Megah Management Services Sdn Bhd RM50, Ejen insurans Reka Strategi Sdn Bhd RM Tidak aktif 150 Gamuda Water Sdn Bhd RM2,000, Pengendalian dan (dahului dikenali sebagai The Sweet Water penyelenggaraan loji-loji Management Sdn Bhd)**** penapisan air Valencia Development Sdn Bhd RM300, Pembangunan hartanah * Pegangan 100% menerusi Ganaz Bina Sdn Bhd ** Pegangan 100% menerusi Gamuda Paper Industries Sdn Bhd *** GKTJV adalah sebuah usahasama tidak diperbadankan yang ditubuhkan oleh Gamuda Berhad, Kumpulan Darul Ehsan Berhad dan The Sweet Water Alliance Sdn Bhd di bawah satu perjanjian kontrak. Menurut Lembaga Piawaian Perakaunan Malaysia, Piawaian No. 16, Pelaporan Kewangan berhubung Kepentingan di Usahasama, GKTJV telah dianggap sebagai subsidiari Gamuda Berhad memandangkan Kumpulan memiliki kuasa untuk mengawal dasar-dasar kewangan dan operasi atas aktiviti ekonomi GKTJV. **** Gamuda Water Sdn Bhd, ( GWSB ) telah dianggap sebagai subsidiari Gamuda Berhad berdasarkan kandungan dalam Perjanjian Jualbeli di antara Gamuda Berhad dan penjual yang telah dimeterai pada 31 Julai Subsidiari-subsidiari kesemuanya diperbadankan di Malaysia kecuali yang berikut: Nama Syarikat Gamuda Overseas Investment Ltd Gamuda (India) Pte Ltd Negara diperbadankan British Virgin Islands India Perolehan subsidiari: Tarikh efektif untuk perolehan kepentingan ekuiti sebanyak 80% pada jumlah pertimbangan sebanyak RM71,600,000 adalah 31 Julai 2001 maka perolehan tersebut tidak memberi kesan kepada keputusan kewangan Kumpulan bagi tahun berakhir 31 Julai 2001.

93 NOTA-NOTA KEPADA KEWANGAN 31 Julai SUBSIDIARI-SUBSIDIARI (samb) Nilai saksama aset yang diperoleh dan liabiliti yang ditanggung daripada perolehan subsidiari adalah seperti berikut: 31 July 2001 RM 000 Aset bersih diperolehi: Penerimaan perdagangan dan lain-lain 220 Tunai dan baki bank 1,784 Pembayaran perdagangan dan lain-lain (4) Kepentingan minoriti 2,000 (400) 151 1,600 Hak-hak konsesi 70,000 Pertimbangan belian 71,600 Tolak:Tunai dan tunai setara subsidiari diperoleh (1,784) Tunai bersih digunakan untuk perolehan subsidiari 69, SYARIKAT-SYARIKAT BERSEKUTU Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Syer tidak tersiarharga, pada kos 122,685 89, ,685 89,685 Syer Keutamaan Bolehtebus 306, , , ,425 Hak Kumpulan pada keuntungan, ditolak dividen yang akan diterima 185, ,925 Diwakili oleh: Perkongsian Kumpulan terhadap aset bersih 570, ,780 Muhibah ditolak pelunasan 43,942 46, , , , , , ,035 Syer tersiarharga, pada kos 179, , , ,855 Hak Kumpulan pada keuntungan, ditolak dividen yang akan diterima 85,513 52,594 Diwakili oleh: Perkongsian Kumpulan terhadap aset bersih 264, , , , , , , , , ,965 Harga pasaran: Syer tersiarharga, di Malaysia 726, , , ,803

94 NOTA-NOTA KEPADA KEWANGAN 31 Julai SYARIKAT-SYARIKAT BERSEKUTU (samb) Kesas Holdings Bhd dan Lingkaran Trans Kota Holdings Berhad telah mengamalkan polisi perakaunan untuk mempermodalkan faedah yang dikenakan ke atas pinjaman yang digunakan untuk pembinaan Lebuhraya yang telah digunakan.permodalan faedah yang dikenakan secara berterusan ke atas kos pembinaan Lebuhraya yang sedang digunakan dan tundaan kos faedah selepas pembinaan mewakili satu penyelewangan dari peruntukan dalam Piawaian Perakaunan Antarabangsa (PPA) 23, Kos Pinjaman Dipermodalkan. Sekiranya peruntukan PPA23 dipatuhi, penyata pendapatan dan keuntungan tertahan Kumpulan adalah seperti berikut: Kumpulan RM 000 RM 000 Penyata Pendapatan: Keuntungan bersih bagi tahun semasa seperti dilaporkan 191, ,815 Perkongsian penghapuskiraan faedah bersih yang dipermodalkan di sepanjang tahun (35,054) (38,404) Keuntungan bersih bagi tahun semasa seperti diselaraskan 156, ,411 Keuntungan Tertahan: Keuntungan tertahan dibawa ke hadapan seperti dilaporkan 514, ,385 Perkongsian penghapuskiraan akaun penyamaan faedah bersih (140,477) (103,795) Keuntungan tertahan dibawa ke hadapan seperti diselaraskan 373, ,590 Syarikat-syarikat bersekutu, yang kesemuanya diperbadankan di Malaysia, adalah seperti berikut: Kepentingan Berkesan Modal Berbayar Kegiatan Nama Syarikat RM % % Utama Dyna Plastics Sdn Bhd 44,907, Pengilangan dan penjualan bateri ion Lithium Polimer dan aksesori berkaitan Gabungan Cekap Sdn Bhd 160,000, Pegangan pelaburan Hicom-Gamuda Development Sdn Bhd 6,053, Pembangunan hartanah Kesas Holdings Bhd 470,914, Pegangan pelaburan Lingkaran Trans Kota Holdings Berhad* 452,731, Pegangan pelaburan dan peruntukan perkhidmatan pengurusan Madang Permai Sdn Bhd 5,000, Pegangan konsesi sebuah Lebuhraya Sistem Penyuraian Trafik KL Barat 9,055, Pegangan pelaburan Holdings Sdn Bhd Sussen (Malaysia) Sdn Bhd 600, Perkilangan dan perniagaan barangan emulsi bitumen * Syer tersiarharga di Malaysia

95 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN Lain-lain Pembinaan hartanah, Tanah dan sedang loji dan bangunan * dijalankan peralatan ** Jumlah Kumpulan RM 000 RM 000 RM 000 RM 000 Pada Nilaian/Kos Pada 1 Ogos ,349 26, , ,164 Penambahan ,134 14,475 Jualan (7,658) (7,658) Pelupusan (839) (839) 153 Pada 31 Julai ,349 26, , ,142 Susutnilai Terkumpul Pada 1 Ogos ,866 97, ,159 Caj ,166 16,911 Jualan (6,725) (6,725) Pelupusan (159) (159) Pada 31 Julai , , ,186 Nilai Buku Bersih Pada 31 Julai ,738 26,407 56, ,956 Pada 31 Julai ,483 26,066 60, ,005 Susutnilai untuk ,452 16,139 * Tanah dan Bangunan Pada Nilai Pada Kos Tanah Tanah dan bangunan Tanah Bangunan Tanah dan dan bangunan peganganpajak peganganpajak peganganpajak bangunan milik bebas jangkapanjang jangkapendek jangkapendek milik bebas Jumlah Kumpulan RM 000 RM 000 RM 000 RM 000 RM 000 RM 000 Pada Nilaian/Kos Pada 1 Ogos ,192 3,171 14, ,486 44,349 Penambahan Klasifikasi semula 448 (1,148) 700 Pada 31 Julai ,640 2,023 14, ,186 44,349

96 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN (samb) Pada Nilai Pada Kos Tanah dan Tanah dan bangunan Tanah Bangunan Tanah dan bangunan peganganpajak peganganpajak peganganpajak bangunan milik bebas jangkapanjang jangkapendek jangkapendek milik bebas Jumlah Kumpulan RM 000 RM 000 RM 000 RM 000 RM 000 RM Susutnilai Terkumpul Pada 1 Ogos , ,030 5,866 Klasifikasi semula 172 (232) 60 Caj Pada 31 Julai , ,306 6,611 Nilai Buku Bersih Pada 31 Julai ,468 1,682 9, ,880 37,738 Pada 31 Julai ,192 2,649 10, ,456 38,483 Susutnilai untuk ** Lain-lain hartanah, loji dan peralatan Pada Kos Peralatan, pejabat, Loji, Kenderaan perabot dan mesin dan bermotor kelengkapan peralatan Jumlah Kumpulan RM 000 RM 000 RM 000 RM 000 Pada Kos Pada 1 Ogos ,072 13, , ,749 Penambahan 2,569 2,891 8,674 14,134 Jualan (2,319) (112) (5,227) (7,658) Pelupusan (49) (85) (705) (839) Pada 31 Julai ,273 16, , ,386 Susutnilai Terkumpul Pada 1 Ogos ,270 9,816 68,207 97,293 Caj 4,137 2,237 9,792 16,166 Jualan (1,755) (92) (4,878) (6,725) Pelupusan (25) (73) (61) (159) Pada 31 Julai ,627 11,888 73, ,575

97 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN (samb) ** Lain-lain hartanah, loji dan peralatan Pada Kos Peralatan, pejabat, Loji, Kenderaan perabot dan mesin dan bermotor kelengkapan peralatan Jumlah Kumpulan RM 000 RM 000 RM 000 RM Nilai Buku Bersih Pada 31 Julai ,646 4,285 37,880 56,811 Pada 31 Julai ,802 3,663 39,991 60,456 Susutnilai untuk ,083 1,715 9,654 15,452 Pada Nilai Pada Kos Lain-lain Pembinaan hartanah Tanah dan sedang loji dan bangunan ^ dijalankan peralatan ^^ Jumlah Syarikat RM 000 RM 000 RM 000 RM 000 Pada Nilaian/Kos Pada 1 Ogos ,970 26,066 36,106 83,142 Penambahan 341 2,604 2,945 Pindahan masuk Klasifikasi semula 4,335 (4,505) 170 Pindahan keluar (157) (157) Jualan (1,741) (1,741) Pelupusan (156) (156) Pada 31 Julai ,305 21,902 36,892 84,099 Susutnilai Terkumpul Pada 1 Ogos ,926 21,798 Caj 167 4,385 4,552 Pindahan keluar (112) (112) Jualan (1,520) (1,520) Pelupusan (111) (111) Pada 31 Julai ,039 23,568 24,607 Nilai Buku Bersih Pada 31 Julai ,266 21,902 13,324 59,492 Pada 31 Julai ,098 26,066 15,180 61,344 Susutnilai untuk ,599 4,707

98 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN (samb) ^ Tanah dan bangunan Pada Nilai Pada Kos Tanah dan Tanah dan bangunan Tanah dan bangunan peganganpajak bangunan milik bebas jangkapanjang milik bebas Jumlah Syarikat RM 000 RM 000 RM 000 RM Pada Nilaian/Kos Pada 1 Ogos ,623 17,567 20,970 Klasifikasi semula 860 (860) 4,335 4,335 Pada 31 Julai ,640 1,763 21,902 25,305 Susutnilai Terkumpul Pada 1 Ogos Klasifikasi semula 172 (172) Caj Pada 31 Julai ,039 Nilai Buku Bersih Pada 31 Julai ,468 1,462 21,336 24,266 Pada 31 Julai ,199 17,119 20,098 Susutnilai untuk ^^ Lain-lain hartanah, loji dan peralatan Peralatan, pejabat, Loji, Kenderaan perabot dan mesin dan bermotor kelengkapan peralatan Jumlah Syarikat RM 000 RM 000 RM 000 RM 000 Pada Kos Pada 1 Ogos ,714 9,599 3,793 36,106 Penambahan 1, ,604 Pindahan masuk Klasifikasi semula Pindahan keluar (103) (19) (35) (157) Jualan (1,694) (47) (1,741) Pelupusan (49) (82) (25) (156) Pada 31 Julai ,578 10,581 3,733 36,892 Susutnilai Terkumpul Pada 1 Ogos ,634 7,357 2,935 20,926 Caj 3,127 1, ,385 Pindahan keluar (67) (15) (30) (112) Jualan (1,478) (42) (1,520) Pelupusan (25) (73) (13) (111) Pada 31 Julai ,191 8,236 3,141 23,568

99 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN (samb) ^^ Lain-lain hartanah, loji dan peralatan Peralatan, pejabat, Loji, Kenderaan perabot dan mesin dan Syarikat bermotor kelengkapan peralatan Jumlah Pada Kos RM 000 RM 000 RM 000 RM 000 Nilai Buku Bersih Pada 31 Julai ,387 2, , Pada 31 Julai ,080 2, ,180 Susutnilai untuk ,980 1, ,599 (a) Tanah dan bangunan Kumpulan mengikut penilaian jurunilai profesional bebas pada 31 Julai 2001 adalah seperti berikut: Tanah dan bangunan pegangpajak jangkapanjang dan jangka pendek Tahun Tahun Butir-butir Jumlah Asas pajakan penilaian hartanah RM 000 penilaian tamat 1991 Tanah dan bangunan pegangpajak jangkapanjang di 260 Harga pasaran 2078 Jalan Gopeng, Ipoh bebas 1991 Tanah dan bangunan pegangpajak jangkapanjang di 753 Harga pasaran 2050 Jelapang, Ipoh bebas 1991 Tanah dan bangunan pegangpajak jangkapanjang di 462 Harga pasaran 2043 Jelapang, Ipoh bebas 1991 Tanah dan bangunan pegangpajak jangkapendek di 14,500 Harga pasaran 2022 Kampar, Daerah Kinta bebas Tanah dan bangunan milik bebas Tahun Butir-butir Jumlah Asas penilaian hartanah RM 000 penilaian 1991 Tanah dan bangunan milik bebas 1,240 Harga pasaran di Petaling Jaya bebas 1991 Tanah dan bangunan milik bebas 400 Harga pasaran di Petaling Jaya bebas (b) Hartanah, loji dan peralatan Kumpulan dengan nilai buku RM7,183,000 (2000: RM7,260,000) telah dicagarkan kepada sebuah institusi kewangan untuk kemudahan kredit yang diberikan kepada Kumpulan. (c) Termasuk di dalam hartanah, loji dan peralatan Kumpulan dan Syarikat ialah hartanah, loji dan peralatan yang telah disusutnilaikan penuh, masih digunakan pada kos masing-masing berjumlah RM39,300,000 (2000: RM36,728,000) dan RM10,639,000 (2000: RM13,925,000).

100 NOTA-NOTA KEPADA KEWANGAN 31 Julai HARTANAH, LOJI DAN PERALATAN (samb) (d) Sekiranya hartanah, loji dan peralatan pada nilaian dinyatakan pada kos sejarah ditolak susutnilai terkumpul, nilai buku bersih untuk setiap kelas hartanah, loji dan peralatan yang sepatutnya direkodkan dalam penyata kewangan Kumpulan dan Syarikat adalah seperti berikut: Kumpulan Syarikat RM 000 RM 000 RM 000 RM Tanah milik bebas 15,009 15,020 14,572 14,572 Tanah pegangpajak jangkapanjang Bangunan 2,487 2,547 2,487 2, MUHIBAH DARI PENYATUAN Kumpulan RM 000 RM 000 Muhibah dari penyatuan (a) 5,448 7,444 Rizab dari penyatuan (b) (1,787) (1,787) 3,661 5,657 Pelunasan muhibah terkumpul (2,415) (2,233) Jumlah rizab terkumpul dikredit 1,787 1,787 3,033 5,211 (a) Muhibah dari penyatuan timbul daripada pembelian Kumpulan Ganaz Bina Sdn Bhd yang terdiri daripada Ganaz Bina Sdn Bhd dan subsidiarinya, G.B. Kuari Sdn Bhd Muhibah tersebut akan dilunaskan sepanjang tempoh 30 tahun selaras dengan tempoh pajakan kuari, yang merupakan aset utama Kumpulan Ganaz Bina Sdn Bhd Perolehan kepentingan tambahan dalam G.B. Kuari Sdn Bhd sepanjang tahun telah menghasilkan rizab dari penyatuan sebanyak RM1,996,000 yang telah diimbangi oleh muhibah yang sedia ada. (b) Rizab dari penyatuan timbul daripada pembelian Gammau Construction Sdn Bhd. Rizab tersebut akan dilunaskan ke penyata pendapatan sepanjang tempoh 8 tahun berdasarkan purata anggaran hayat aset-aset tetap utama tetap yang dibeli. 17 HAK-HAK KONSESI Kumpulan RM 000 RM 000 Hak-hak konsesi 70,000 Hak-hak konsesi adalah berhubung perolehan sebuah subsidiari, Gamuda Water Sdn Bhd (dahulu dikenali The Sweet Water Management Sdn Bhd) Gamuda Water Sdn Bhd telah dikurniakan hak-hak untuk mengendali dan menyelenggarakan loji-loji penapisan air Skim Bekalan Air Sungai Selangor Fasa 3 untuk tempoh 30 tahun. Hak-hak konsesi ini akan dilunaskan mengikut kaedah sistematik pada permulaan operasi-operasi berkenaan setiap fasa sepanjang baki tempoh konsesi.

101 NOTA-NOTA KEPADA KEWANGAN 31 Julai MODAL SYER Kumpulan dan Syarikat Bilangan Syer Biasa bernilai RM1 setiap satu Jumlah RM 000 RM 000 Dibenarkan: Pada 1 Ogos 2000/1999 1,000,000 1,000,000 1,000,000 1,000,000 Terbitan di sepanjang tahun 1,000,000 1,000, Pada 31 Julai 2,000,000 1,000,000 2,000,000 1,000,000 Diterbitkan dan dibayar penuh: Pada 1 Ogos 2000/ , , , ,804 Perlaksanaan waran 19,023 19,023 Perlaksanaan SOSP , ,150 Terbitan bonus satu untuk satu 322, , , , , ,191 Wang permohonan syer 34 Pada 31 Julai 665, ,191 (a) Modal syer Syarikat yang diterbitkan dan dibayar telah ditambah menerusi terbitan 164,000 syer biasa baru bernilai RM1.00 setiap satu berkaitan perlaksanaan Skim Opsyen Syer Pekerja. Kesemua syer baru yang diterbitkan mempunyai taraf yang sama dalam semua hal dengan syer biasa Syarikat yang sedia ada. (b) Ciri-ciri utama SOSP adalah seperti berikut: (i) (ii) Mereka yang layak adalah pekerja-pekerja dan Pengarah Eksekutif sepenuh masa Kumpulan (termasuk pekerja kontrak dan warganegara asing dengan kontrak perkhidmatan sekurang-kurangnya tiga tahun) yang telah disahkan jawatan dan telah bekerja dengan Kumpulan untuk tempoh yang berterusan selama sekurang-kurangnya satu tahun pada tarikh tawaran. Kelayakan untuk mengambil bahagian dalam SOSP adalah tertakluk kepada pertimbangan Ahli Jawatankuasa Opsyen. SOSP akan berkuatkuasa bagi tempoh 5 tahun bermula dari 26 Disember 2000 tertakluk kepada sebarang pelanjutan atau pembaharuan untuk tempoh selanjutnya yang tidak melebihi 5 tahun bermula dari hari berikutan tarikh tamatnya tempoh 5 tahun yang asal, yang boleh diluluskan oleh semua pihak berkenaan. (iii) Jumlah bilangan syer yang akan ditawarkan tidak boleh melebihi 10% daripada modal syer Syarikat yang diterbitkan dan dibayar penuh pada bila-bila masa sepanjang tempoh SOSP. (iv) Harga langganan di bawah SOSP ini adalah harga purata wajaran bagi harga pasaran syer-syer Syarikat sebagaimana dinyatakan dalam Senarai Rasmi Harian yang diterbitkan oleh Bursa Saham Kuala Lumpur bagi 5 hari pasaran sebelum tarikh tawaran opsyen tersebut tertakluk kepada diskaun tidak melebihi sepuluh peratus (10%), atau pada nilai tara syer tersebut, yang mana lebih tinggi. (v) Bilangan syer yang akan ditawarkan kepada seseorang pekerja yang layak mengikut SOSP akan ditentukan berdasarkan pertimbangan Ahli Jawatankuasa Opsyen selepas mengambilkira faktor-faktor seperti jawatan, prestasi, senioriti dan tempoh perkhidmatan pekerja yang layak tersebut dan tertakluk kepada peruntukan maksima yang dibenarkan untuk seseorang pekerja yang layak.

102 NOTA-NOTA KEPADA KEWANGAN 31 Julai MODAL SYER (samb) (vi) Bilangan syer di bawah SOSP yang tidak diterbitkan atau harga opsyen atau kedua-duanya boleh diselaraskan jika berlaku sebarang perubahan dalam struktur modal Syarikat di sepanjang tempoh opsyen, sama ada secara permodalan keuntungan atau rizab, terbitan hak, penyatuan syer-syer, pembahagian kecil atau pengurangan modal dan sebagainya, yang dilakukan oleh Syarikat. 160 (vii) Opsyen tersebut tidak akan layak untuk sebarang hak untuk mengundi di sebarang mesyuarat agung Syarikat dan seseorang penerima tidak akan layak untuk sebarang dividen, hak atau kelayakan-kelayakan lain atas opsyen yang belum dilaksanakan. (viii) Opsyen yang diberi di bawah SOSP tidak boleh ditukar hakmilik. (ix) Syer-syer baru Syarikat yang akan diperuntukkan dengan perlaksanaan opsyen tersebut akan mempunyai taraf yang sama dalam semua hal dengan syer-syer biasa Syarikat yang diterbitkan dan dibayar penuh yang sedia ada melainkan syer-syer baru yang diterbitkan tidak akan layak untuk sebarang dividen, hak, peruntukan dan/atau pengagihan lain, sebelum tarikh kelayakan (iaitu tarikh tutup perniagaan di mana para pemegang syer mesti berdaftar agar melayakkan diri mereka untuk sebarang dividen, hak, peruntukan atau pengagihan lain), yang mana sebelum tarikh peruntukan syer-syer baru. (c) Dalam tahun kewangan berakhir 31 Julai 1997, Syarikat telah menerbitkan 38,351,903 Waran 1996/2006 seperti yang dinyatakan dalam Nota 19(a)(i) kepada penyata kewangan. Pada tarikh lembaran imbangan, jumlah Waran 1996/2006 yang belum dilaksanakan adalah sebanyak 76,650,642 (2000: 76,650,642) unit selepas perlarasan untuk terbitan bonus satu untuk satu pada tahun kewangan yang lepas. (d) Di sepanjang tahun kewangan, Syarikat telah menerbitkan 166,297,668 Waran 2001/2007 seperti yang dinyatakan dalam Nota 19(a)(ii) kepada penyata kewangan. Pada tarikh lembaran imbangan, jumlah Waran 2001/2007 yang belum dilaksanakan adalah sebanyak 166,297,668 (2000:Tiada) unit. 19 LIABILITI JANGKA PANJANG Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Bon (a) 400, , , ,000 Cukai tertunda (b) 9,575 7,986 6,272 6,272 Pembayaran jangkapanjang (c) 94,083 Peruntukan untuk ganjaran persaraan (d) 5,065 4,777 3,991 3, , , , ,268 Kumpulan dan Syarikat RM 000 RM 000 (a) Bon Jumlah nominal 4% Bon Bolehtebus Tidak Bercagar 1996/ , ,000 Jumlah nominal 3% Bon Bolehtebus Tidak Bercagar 2000/ , , ,000 Jumlah perlu dibayar balik dalam 12 bulan (115,000) 400, ,000

103 NOTA-NOTA KEPADA KEWANGAN 31 Julai LIABILITI JANGKA PANJANG (samb) Sifat-sifat utama Bon Bolehtebus Tidak Bercagar adalah seperti berikut: (i) 4% Bon Bolehtebus Tidak Bercagar 1996/2001 yang berjumlah nominal RM115,000,000 telah diterbitkan bersama 38,351,903 waran ceraian kepada pembeli utama dan kemudiannya dijual kepada pemegang syer dengan nisbah satu waran untuk setiap tiga syer biasa sedia ada yang telah dimiliki pada harga tawaran 58.4 sen setiap waran. Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa pada atau sebelum tarikh akhir iaitu lima tahun selepas tarikh penerbitan iaitu 30 Disember Pada tahun 1999, tempoh langganan telah dilanjutkan untuk tempoh selanjutnya selama lima tahun bermula dari 29 Disember 2001 hingga 29 Disember Setiap Waran 1996/2006 memberikan hak untuk melanggan satu syer Syarikat bernilai RM1.00 setiap satu pada harga perlaksanaan RM4.21, tertakluk kepada perubahan selaras dengan peruntukan yang dinyatakan di dalam Surat Ikatan Cabutan. 161 Bon-bon yang telah diterbitkan pada 100% nilai nominalnya dan mempunyai kadar kupon tetap sebanyak 4% setahun dibayar tertunggak secara tahunan. Apabila tamat tempohnya, bon-bon akan ditebus pada 100% nilai nominal berserta dengan faedah terakru sehingga tarikh matangnya iaitu 29 Disember (ii) 3% Bon Bolehtebus Tidak Bercagar 2000/2007 yang berjumlah nominal RM400,000,000 telah diterbitkan bersama 166,297,668 waran ceraian kepada pembeli utama dan kemudiannya dijual kepada pemegang syer dengan nisbah satu waran untuk setiap empat syer biasa sedia ada yang telah dimiliki pada harga tawaran 61.0 sen setiap waran. Setiap waran memberi pemegang berdaftarnya hak untuk melanggan satu syer baru Syarikat pada bila-bila masa pada atau sebelum tarikh akhir iaitu enam setengah tahun selepas tarikh penerbitan iaitu 22 Februari 2001, pada harga perlaksanaan RM3.75 setiap syer. Harga perlaksanaan tertakluk kepada perubahan dari semasa ke semasa selaras dengan syarat-syarat yang dinyatakan di dalam Surat Ikatan Cabutan yang diwujudkan pada 22 Februari Bon-bon yang telah diterbitkan pada 100% nilai nominalnya dan mempunyai kadar kupon tetap sebanyak 3% setahun dibayar tertunggak tiap-tiap setengah tahun. Apabila tamat tempohnya, bon-bon akan ditebus pada 100% nilai nominal berserta dengan faedah terakru sehingga tarikh matangnya iaitu 28 September (b) Cukai tertunda Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Pada 1 Ogos 2000/1999 7,986 8,136 6,272 6,272 Pindahan dari/(kepada) penyata pendapatan (Nota 25) 1,589 (150) Pada 31 Julai 9,575 7,986 6,272 6,272 Cukai tertunda sebanyak RM3,965,000 bagi penilaian semula sesetengah tanah dan bangunan tidak diperuntukkan dalam penyata kewangan kerana para pengarah tidak mempunyai niat untuk menjual hartanah tersebut.

104 NOTA-NOTA KEPADA KEWANGAN 31 Julai LIABILITI JANGKA PANJANG (samb) (c) Pembayaran jangkapanjang adalah berhubung dengan hutang kepada pihak ketiga bagi baki pertimbangan belian tanah untuk pembangunan seperti yang dinyatakan dalam Nota 7. Pembayaran hutang jangkapanjang mengikut syarat-syarat perjanjian belian dan jualan tanah adalah seperti berikut: Kumpulan dan Syarikat RM 000 RM Pembayaraan jangkapanjang 141,124 Jumlah perlu dibayar balik dalam 12 bulan (Nota 10) (47,041) Jumlah perlu dibayar balik selepas 12 bulan 94,083 Jumlah perlu dibayar: Dalam satu tahun 47,041 Di antara satu dan dua tahun 47,041 Di antara dua dan lima tahun 47, ,124 (d) Peruntukan untuk ganjaran pesaraan pekerja adalah tidak berdana dan ditentukan berdasarkan jadual faedah seperti yang dinyatakan di dalam polisi dan perjanjian Kumpulan. Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Pada 1 Ogos 2000/1999 4,777 4,683 3,996 3,996 Peruntukan bersih/(caj bagi tahun) (Nota 23) (5) Pada 31 Julai 5,065 4,777 3,991 3, PEROLEHAN Perolehan Kumpulan dan Syarikat terdiri daripada: Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Kejuruteraan dan pembinaan 751, , , ,397 Jualan hasil kuari 29,815 32,740 Pembangunan hartanah 5,924 Jualan kertas 25,442 24,132 Jualan barang pembinaan 18,339 1,531 Lain-lain 394 1, , , , ,397

105 NOTA-NOTA KEPADA KEWANGAN 31 Julai LAIN-LAIN PENDAPATAN OPERASI Termasuk di dalam lain-lain pendapatan operasi adalah: Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Yuran pengurusan diterima daripada sebuah syarikat subsidiari Dividen diterima/akan diterima daripada syarikat-syarikat subsidiari 1,250 2,225 pelaburan dalam sebuah syarikat bersekutu (disenaraikan) 12,968 2,348 Keuntungan dari jualan hartanah, loji dan peralatan Pemulihan hutang lapuk Keuntungan tidak direalisasikan atas tukaran asing 17 Pendapatan sewa subsidiari lain-lain KOS KAKITANGAN Termasuk di dalam kos kakitangan adalah: Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Ganjaran pengarah* 4,176 3,437 3,934 3,198 Peruntukan bersih/(pemulihan) untuk ganjaran persaraan kakitangan (5) * Ganjaran pengarah Para pengarah Syarikat: Eksekutif: Gaji dan emolumen lain 4,065 3,332 3,823 3,093 Lain-lain manfaat ,428 3,570 4,165 3,327 Bukan Eksekutif: Yuran Lain-lain manfaat Jumlah 4,570 3,692 4,307 3,449 Jumlah tanpa lain-lain manfaat 4,176 3,437 3,934 3,198

106 NOTA-NOTA KEPADA KEWANGAN 31 Julai KOS KAKITANGAN (samb) Bilangan pengarah-pengarah Syarikat di mana jumlah ganjaran disepanjang tahun terangkum dalam lingkungan berikut adalah: Pengarah Eksekutif: Bilangan Pengarah RM200,001 RM250,000 1 RM250,001 RM300,000 1 RM300,001 RM350,000 RM350,001 RM400,000 RM400,001 RM450,000 4 RM450,001 RM500,000 4 RM500,001 RM550, RM550,001 RM600,000 2 RM650,001 RM700,000 1 Pengarah bukan eksekutif: 10 8 RM1 RM50, RM50,001 RM100,000 RM100,001 RM150, Total 13 11

107 NOTA-NOTA KEPADA KEWANGAN 31 Julai LAIN-LAIN KOS OPERASI Termasuk di dalam lain-lain kos operasi adalah: Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Ganjaran juruaudit Perlunasan muhibah dari penyatuan: Subsidiari Syarikat bersekutu 2,313 Peruntuan hutang ragu Inventori dihapuskira Kerugian tidak direalisasikan atas tukaran asing 20 Sewa loji dan peralatan 5,962 13,109 1,250 8,205 Sewa premis 1,496 1, Peruntukan bersih/(pemulihan) untuk ganjaran persaraan kakitangan (5) Peruntukan/(pemulihan) untuk penyusutan nilai pelaburan dalam syer tersiarharga di Malaysia 535 (57) Aset tetap dihapuskira KOS KEWANGAN Kos kewangan terdiri daripada perbelanjaan faedah. 25 CUKAI Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Peruntukan bagi tahun semasa 41,626 35,179 23,107 30,095 Pindahan dari/(kepada) cukai tertunda (Nota 19(b)) 1,589 (150) Kekurangan/(lebihan) peruntukan bagi tahun-tahun lepas 1,290 (323) 1,432 (556) 44,505 34,706 24,539 29,539 Kadar cukai berkesan Kumpulan adalah lebih tinggi daripada kadar cukai berkanun disebabkan terutamanya oleh kerugian sesetengah subsidiari yang tidak boleh diimbangi oleh keuntungan syarikat-syarikat lain di dalam Kumpulan memandangkan Kumpulan tidak mempunyai pelepasan cukai. Kadar cukai berkesan ke atas keuntungan Syarikat adalah lebih rendah daripada kadar cukai berkanun disebabkan terutamanya oleh dividen dikecualikan cukai yang diterima daripada subsidiari-subsidiari Syarikat. Pada 31 Julai 2001, Syarikat mempunyai keuntungan pengecualian cukai yang boleh diagihkan berjumlah kira-kira RM9,000 (2000: RM53,228,000) tertakluk kepada persetujuan dengan Lembaga Hasil Dalam Negeri. Syarikat mempunyai kredit cukai yang mencukupi di bawah Seksyen 108, Akta Cukai Pendapatan, 1967 untuk membolehkan pembayaran dividen dibuat daripada keseluruhan keuntungan tertahannya pada 31 Julai 2001.

108 NOTA-NOTA KEPADA KEWANGAN 31 Julai DIVIDEN Kumpulan dan Syarikat Jumlah Dividen sesyer RM 000 RM 000 Sen Sen 166 Dividen interim dibayar sebanyak 4% dikecualikan cukai (2000: 4% dikecualikan cukai) 26,611 26, Dividen akhir dicadangkan sebanyak 4% selepas cukai (2000: 4% dikecualikan cukai) 19,163 26, Kekurangan peruntukan bagi dividen akhir dicadangkan pada tahun lepas ,774 53, PENDAPATAN SESYER Pendapatan asas setiap syer telah dikira dengan membahagikan keuntungan Kumpulan selepas cukai dan kepentingan minoriti sebanyak RM191,708,000 (2000: RM146,815,000) dengan bilangan purata wajaran syer dalam terbitan di sepanjang tahun sebanyak 665,240,000 (2000: 639,494,000). Pendapatan sesyer yang dicairkan sepenuhnya telah dikira berdasarkan keuntungan Kumpulan selepas cukai dan kepentingan minoriti yang telah diselaraskan sebanyak RM191,708,000 (2000: RM146,815,000) dan berdasarkan bilangan syer sebanyak 679,413,000 (2000: 665,567,000) yang telah atau akan diterbitkan pada akhir tahun. Bilangan Purata Keuntungan Bersih Wajaran Syer Pendapatan Sesyer (RM 000) (dalam ribu) (sen) Keuntungan bersih bagi tahun semasa 191, , , ,494 Pendapatan asas sesyer Perlaksanaan SOSP diandaikan 4,628 Perlaksanaan waran diandaikan 9,545 26, , , , ,567 Pendapatan sesyer yang dicairkan Bagi tahun kewangan berakhir 31 Julai 2000, Waran 2001/2007 telah dikecualikan daripada pengiraan pendapatan sesyer yang dicairkan sepenuhnya untuk syer biasa RM1 disebabkan penukaran waran tersebut ke syer-syer biasa adalah bertentangan dengan sifat pencairan. Angka bandingan bagi pendapatan sesyer yang dicairkan sepenuhnya telah diselaraskan untuk mencerminkan bahawa kaedah pengiraan yang digunakan dalam tahun kewangan semasa adalah menurut Lembaga Piawaian Perakaunan Malaysia Piawaian 13: Pendapatan Sesyer.

109 NOTA-NOTA KEPADA KEWANGAN 31 Julai PENGLIBATAN MODAL Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Dilulus dan dikontrakkan 151,160 1, Termasuk dalam penglibatan modal adalah jumlah sebanyak RM150,499,000 yang berkaitan dengan pembelian tanah oleh sebuah subsidiari Syarikat, Harum Intisari Sdn Bhd LIABILITI LUARJANGKA (TIDAK BERCAGAR) Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Jaminan yang diberi kepada pemiutang perdagangan untuk kemudahan kredit yang diberikan kepada sebuah syarikat subsidiari 1,037 Jaminan performance dan jaminan wang tertahan 266, , , , , , , , URUSNIAGA PENTING DENGAN PIHAK BERKAITAN Kumpulan Syarikat RM 000 RM 000 RM 000 RM 000 Perkhidmatan kontrak untuk Lingkaran Trans Kota Holdings Berhad, sebuah syarikat bersekutu (1,587) (32,100) (1,587) (32,100) Perkhidmatan kontrak untuk Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd, sebuah syarikat bersekutu (163,064) (479,371) (163,064) (479,371) Perkhidmatan kontrak untuk Syarikat Pengeluar Air Sungai Selangor Sdn Bhd, sebuah syarikat bersekutu (133,560) Perkhidmatan kontrak oleh Sepakat Setia Perunding Sdn Bhd, sebuah syarikat di mana salah seorang pengarah,tan Sri Dato Ir Talha bin Haji Mohd Hashim mempunyai kepentingan 1, Perkhidmatan kontrak oleh subsidiari 302,807 76,955 Dividen kasar akan diterima daripada subsidiari (1,550) (2,435) Faedah akan dibayar kepada subsidiari Yuran pengurusan akan diterima daripada subsidiari (450) (475) Sewa diterima daripada subsidiari (337) (22) Faedah akan diterima daripada subsidiari (439) (459) Pindahan aset tetap daripada subsidiari Pindahan aset tetap kepada subsidiari Para pengarah berpendapat bahawa urusniaga di atas telah dijalankan menurut pengurusan perniagaan yang normal dan berdasarkan asas yang telah diperundingkan yang tidak banyak berbeza daripada yang diuruskan dengan pihak yang tidak berkaitan.

110 NOTA-NOTA KEPADA KEWANGAN 31 Julai PERISTIWA PENTING Di sepanjang tahun kewangan, (a) Syarikat telah memperolehi yang berikut di dalam Harum Intisari Sdn Bhd: 168 (i) (ii) 5,000,000 syer biasa bernilai RM1 setiap satu mewakili 100% modal syer diterbitkan dan dibayar penuh pada jumlah pertimbangan sebanyak RM5,000,000 dan 350,000 Syer Keutamaan Bolehtebus dengan premium RM99 setiap satu pada jumlah pertimbangan sebanyak RM35,000,000 mewakili sebahagian jumlah pertimbangan untuk memperoleh beberapa bidang tanah seperti dinyatakan dalam (c) di bawah. (b) Syarikat telah menambah 33,000,000 syer biasa bernilai RM1 setiap satu di dalam Gabungan Cekap Sdn Bhd ( GCSB ) pada jumlah pertimbangan sebanyak RM33,000,000 untuk mengekalkan kepentingan berkesan sebanyak 30% di dalam GCSB. (c) Subsidiari Syarikat, Harum Intisari Sdn Bhd telah menandatangani satu perjanjian untuk membeli beberapa bidang tanah seperti yang berikut pada jumlah pertimbangan sebanyak RM388,830,453: (i) (ii) Tiga (3) bidang tanah milik bebas dengan ukuran kira-kira 572 ekar, berserta dengan bangunan yang dibina di atasnya dan struktur yang terdapat padanya, dipegang di bawah Geran Lot No , Geran Lot No. 122 dan Geran 6631 Lot No di dalam Mukim dan Daerah Klang, Selangor Darul Ehsan; dan Dua (2) bidang tanah milik bebas dengan ukuran kira-kira 669 ekar, berserta dengan bangunan yang dibina di atasnya dan struktur yang terdapat padanya, dipegang di bawah Geran Lot No. 31, Geran Lot No di dalam Mukim dan Daerah Klang, Selangor Darul Ehsan. (d) Subsidiari Syarikat, Ganaz Bina Sdn Bhd telah memperolehi kepentingan ekuiti tambahan sebanyak 30% di dalam G.B. Kuari Sdn Bhd pada jumlah pertimbangan sebanyak RM18,400,000. Berikutan dengan peningkatan dalam kepentingan ekuiti tersebut, G.B. Kuari Sdn Bhd telah menjadi subsidiari yang dimiliki sepenuhnya oleh Ganaz Bina Sdn Bhd. (e) (f) (g) Syarikat telah menerbitkan terbitan hak yang boleh dilepaskan sebanyak 166,297,668 waran baru pada harga terbitan RM0.61 untuk setiap waran baru dengan nisbah satu waran baru untuk setiap empat syer biasa yang sedia ada. Harga perlaksanaan waran telah ditetapkan pada RM3.75. Syarikat telah menerbitkan RM400,000,000 nilai nominal 7 tahun, 3% Bon Bolehtebus Tidak Bercagar. Syarikat telah menandatangani satu perjanjian tambahan bertarikh 15 Januari 2001 untuk melanggan 135,000 syer keutamaan tambahan bernilai RM1.00 setiap satu pada RM100 sesyer yang berjumlah RM13.5 juta di dalam Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd dalam penyediaan untuk permulaan Western Kuala Lumpur Traffic Dispersal Scheme Package C. (h) Syarikat telah memperolehi 1,600,000 syer biasa bernilai RM1 setiap satu, mewakili 80% modal diterbitkan dan dibayar penuh di Gamuda Water Sdn Bhd (dahulunya dikenali sebagai The Sweet Water Management Sdn Bhd) pada jumlah pertimbangan sebanyak RM71,600,000. (i) (j) Syarikat telah meningkatkan modal syer dibenarkan daripada RM1,000,000,000 terdiri daripada 1,000,000,000 syer biasa bernilai RM1.00 setiap satu ke RM2,000,000,000 terdiri daripada 2,000,000,000 syer biasa bernilai RM1.00 setiap satu. Modal syer diterbitkan dan dibayar penuh Syarikat telah meningkat daripada RM665,190,672 ke RM665,354,672 menerusi terbitan 164,000 syer biasa baru bernilai RM1.00 setiap satu berikutan perlaksanaan Skim Opsyen Syer Pekerja (154,000 dan 10,000 syer biasa baru masing-masing pada harga RM3.25 dan RM3.45). Syer-syer baru yang diterbitkan mempunyai taraf yang sama dalam semua hal dengan syer Syarikat yang sedia ada.

111 NOTA-NOTA KEPADA KEWANGAN 31 Julai PERISTIWA SUSULAN (a) Pada 6 Ogos 2001, Perjanjian Jualbeli di antara Syarikat dengan penjual untuk mengambilalih kepentingan ekuiti sebanyak 80% dalam Gamuda Water Sdn Bhd telah diselesaikan sepenuhnya. (b) Pada 26 September 2001, National Highway Authority dari India telah menerima tawaran bersama Syarikat dan WCT Engineering untuk mereka bentuk, membiayai, membina, mengendali dan menyelenggarakan satu projek lebuhraya di RM517 ke RM , Seksyen Panagarh-Plasit di negeri Bengal Barat. Projek tersebut telah dianggarkan berjumlah Rps. 5.0 billion (kira-kira RM420 juta). 33 ANALISA BERSEGMEN Keuntungan sebelum Jumlah aset Perolehan cukai digunakan RM 000 RM 000 RM Analisa menurut aktiviti: 2001 Syarikat dan subsidiari-subsidiarinya: Kejuruteraan dan pembinaan 751, , ,323 Perkilangan, kuari dan lain-lain 73,990 18, ,373 Pembangunan hartanah 5,924 (96) 370,199 Bekalan air (219) 75,084 Syarikat-syarikat bersekutu: 831, ,043 1,558,979 Lebuhraya 64, ,025 Bekalan air 41,708 83,339 Pembangunan hartanah 26, ,127 Perkilangan, kuari dan lain-lain (1,359) 68, , ,244 Jumlah 831, ,035 2,438, Syarikat dan subsidiari-subsidiarinya: Kejuruteraan dan pembinaan 577, , ,387 Perkilangan, kuari dan lain-lain 60,091 16, ,411 Pembangunan hartanah 103, , , ,154

112 NOTA-NOTA KEPADA KEWANGAN 31 Julai ANALISA BERSEGMEN (samb) Keuntungan sebelum Jumlah aset Perolehan cukai digunakan RM 000 RM 000 RM 000 Analisa menurut aktiviti: Syarikat-syarikat bersekutu: Lebuhraya 53, ,486 Bekalan air 8,476 21,044 Pembangunan hartanah 17, ,844 Perkilangan, kuari dan lain-lain (305) 70,110 79, ,484 Jumlah 637, ,062 1,405,638 Kesemua aktiviti-aktiviti Kumpulan adalah dijalankan di dalam Malaysia. Para pengarah berpendapat bahawa segala urusniaga di antara segmen di atas telah dijalankan menurut pengurusan perniagaan yang normal dan berdasarkan syarat-syarat yang tidak banyak berbeza daripada yang diuruskan dengan pihak yang tidak berkaitan. 34 ANGKA BANDINGAN Angka bandingan tertentu telah dikelaskan semula supaya menurut pembentangan tahun semasa. 35 MATAWANG Semua jumlah adalah dinyatakan di dalam Ringgit Malaysia kecuali jika dinyatakan sebaliknya.

113 SENARAI HARTANAH UTAMA YANG DIMILIKI pada 31 Julai 2001 Anggaran Tempoh Nilai buku usia Lokasi Pegangan Kawasan Keterangan tamat bersih bangunan No. 36/38, Jalan SS21/62 Bebas 1,078 m per 2 blok rumah kedai/ 1,110, Petaling Jaya, pejabat 4 tingkat Selangor No. 30, Jalan SS2/44 Bebas 501 m per Banglo/kuarters 358, Petaling Jaya, kakitangan Selangor 171 No. 39, Jalan SS22/23 Bebas 499 m per Rumah kedai/pejabat 613, Petaling Jaya, 4 tingkat Selangor No , Jalan SS22/23 Bebas 1,996 m per 4 blok rumah kedai/ 904, Petaling Jaya, pejabat 4 tingkat 904,908 Selangor 1,272,703 1,053,472 Lot 6, Jalan U1/17, Bebas ekar Estet perindustrian/ 7,183, Seksyen U1 kilang/pejabat Shah Alam, Selangor No. 152, Jalan Gopeng Berpajak 164 m per Rumah kedai/pejabat , Ipoh, Perak 3 tingkat No. 158, Jalan Gopeng Berpajak 163 m per Rumah kedai/pejabat , Ipoh, Perak 3 tingkat PT 51683, Jalan Jelapang Berpajak 4,353 m per Estet perindustrian/ , Ipoh, Perak bengkel PT Berpajak 12,144 m per Estet perindustrian/stor , Meru Industrial Estate Jelapang, Ipoh Perak PT , , Berpajak 45 hektar Bukit granit, bukit ,187, , , , batu kapur dan tanah ,195827, 46482, perindustrian/kuari 57417, kesemuanya di Mukim Kampar Daerah Kinta Ipoh, Perak HS (D) 54871, Bebas 16,898 kaki per Estet perindustrian/ 8,097,391 PT No bengkel Mukim & Daerah Kelang Selangor HS (D) 52621, Bebas 42,217 kaki per Tanah komersial 9,104,000 PT No Mukim & Daerah Kelang Selangor

114 MAKLUMAT LAIN YURAN BUKAN AUDIT DIBAYAR KEPADA JURUAUDIT LUAR Syarikat dan syarikat-syarikat subsidiarinya tidak membayar sebarang yuran bukan audit kepada Arthur Andersen & Co. (juruaudit luar), pada tahun kewangan berakhir 31 Julai DASAR PENILAIAN SEMULA KE ATAS HARTANAH Kumpulan tidak mengamalkan suatu dasar penilaian semula yang kerap. 172 BELIAN BALIK SAHAM Pada tahun kewangan berakhir 31 Julai 2001, Syarikat tidak membeli balik mana-mana saham sendiri. OPSYEN SAHAM KAKITANGAN DAN WARAN Selain daripada pelaksanaan opsyen menurut Skim Opsyen Saham Kakitangan, yang mana jumlah dinyatakan dalam Nota 18 kepada Penyata Kewangan, tiada sebarang pelaksanaan opsyen lain atau sebarang pelaksanaan waran pada tahun kewangan berakhir 31 Julai KONTRAK PENTING MELIBATKAN PARA PENGARAH DAN PARA PEMEGANG SAHAM UTAMA Selain daripada yang dinyatakan dalam Nota 30 kepada Penyata Kewangan, tiada sebarang kontrak penting yang dimeterai oleh Syarikat dan syarikat-syarikat subsidiarinya yang melibatkan para Pengarah dan para pemegang saham utama. SEKATAN DAN/ATAU PENALTI YANG DIKENAKAN Sejak akhir tahun kewangan lepas, tiada sebarang sekatan dan/atau penalti telah dikenakan ke atas Syarikat dan syarikat-syarikat subsidiarinya, para Pengarah atau pengurusan oleh pihak berkuasa berkaitan. PROGRAM AMERICAN DEPOSITORY RECEIPT (ADR) ATAU GLOBAL DEPOSITORY RECEIPT (GDR) Syarikat tidak menaja sebarang program ADR atau GDR. STATUS PENGGUNAAN BON Berikut adalah penggunaan kutipan daripada Bon Tidak Bercagar Boleh Tebus 3% 2000/2007 pada 31 Julai 2001: Jumlah Butir-butir aktiviti Diluluskan Digunakan RM'000 RM'000 Pembayaran balik pinjaman 115,000 Pembelian tanah 60,000 60,000 Modal kerja 70,700 70,700 Perbelanjaan Terbitan Bon 4,300 4,300 Pelaburan dalam Gabungan Cekap Sdn Bhd 150,000 48,000 (Syarikat induk SPLASH) Jumlah 400, ,000

115 ANALISIS PEGANGAN SAHAM pada 26 November 2001 Modal Dibenarkan : RM2,000,000, Diterbitan dan Dibayar Penuh : RM665,928, Kelas Saham : Saham Biasa bernilai RM1.00 sesaham Hak Mengundi : 1 undi bagi setiap pemegang saham dengan cara mengangkat tangan 1 undi bagi setiap saham biasa dengan cara pol Bil. Pemegang Saham : 12,624 Bil. Bil. Saiz pegangan saham pemegang saham saham biasa % , ,000 10,000 10,428 28,397, , ,000 1,341 44,402, ,001 33,296, ,115, ,296,434 dan ke atas 3 175,958, Jumlah 12, ,928, PARA PEMEGANG SAHAM UTAMA Seperti yang ditunjukkan di dalam Daftar Pemegang-Pemegang Saham Utama Bil. saham di mana Bil. saham di mana para pemegang saham para pemegang saham utama mempunyai utama dianggap Nama pemegang saham utama kepentingan langsung mempunyai kepentingan % Generasi Setia (M) Sdn Bhd 92,486,928 (a) Raja Dato Seri Eleena Azlan Shah 92,486,928 (b) Dato Lin Yun Ling 56,848,818 (c) 8.54 Employees Provident Fund Board 55,189,250 (d) 8.29 (a) Termasuk saham yang dipegang melalui syarikat nomini. (b) Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd. (c) Termasuk saham yang dipegang melalui syarikat nomini. (d) Termasuk saham yang dipegang melalui syarikat-syarikat nomini.

116 ANALISIS PEGANGAN SAHAM/WARAN pada 26 November 2001 KEPENTINGAN PARA PENGARAH Seperti yang ditunjukkan di dalam Daftar Pegangan Saham Pengarah-pengarah Selain daripada yang dibentangkan di bawah, tiada Pengarah lain Syarikat yang mempunyai kepentingan secara langsung atau dianggap mempunyai kepentingan dalam Syarikat dan syarikat berkaitannya: 174 Kepentingan dalam Syarikat Dianggap mempunyai Nama Pengarah Langsung % kepentingan % Bilangan Saham Biasa Tan Sri Dato Ir Talha bin Haji Mohd Hashim 525, Dato Lin Yun Ling 56,848,818^ 8.54 Raja Dato Seri Eleena Azlan Shah 92,486,928* Dato Ir Kamarul Zaman bin Mohd Ali 1,188, Ng Kee Leen 14,516,114 # 2.18 Goon Heng Wah 1.72 Ha Tiing Tai 13,207, Saw Wah Theng 100, Azmi Mat Nor 10, Chow Chee Wah 2, ^ Termasuk saham biasa yang dipegang melalui syarikat nomini. * Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd. Termasuk saham biasa yang dipegang oleh Generasi Setia (M) Sdn Bhd melalui syarikat nomini. # Termasuk saham biasa yang dipegang melalui syarikat Termasuk saham biasa yang dipegang melalui syarikat-syarikat nomini. Dipegang melalui syarikat nomini. Bilangan Waran 1996/2006 Dato Lin Yun Ling 8,053,442^^ Raja Dato Seri Eleena Azlan Shah 13,724,000** Dato Ir Kamarul Zaman bin Mohd Ali 172, Ng Kee Leen 2,288, Goon Heng Wah 1,788, Ha Tiing Tai 1,704, ^^ Termasuk Waran 1996/2006 yang dipegang melalui syarikat nomini. ** Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd. Bilangan Waran 2001/2007 Dato Lin Yun Ling 12,240, Raja Dato Seri Eleena Azlan Shah 23,122,000*** Dato Ir Kamarul Zaman bin Mohd Ali 331, Ng Kee Leen 4,308, Goon Heng Wah 2,996, Ha Tiing Tai 3,477, Saw Wah Theng 96, *** Dianggap mempunyai kepentingan melalui Generasi Setia (M) Sdn Bhd. Termasuk Waran 2001/2007 yang dipegang oleh Generasi Setia (M) Sdn Bhd melalui syarikat nomini.

117 ANALISIS PEGANGAN SAHAM pada 26 November 2001 KEPENTINGAN PARA PENGARAH (samb) Seperti yang ditunjukkan di dalam Daftar Pegangan Saham Pengarah-pengarah Skim Opsyen Saham Kakitangan Bil. saham Harga opsyen opsyen Nama Pengarah RM 000 Dato Lin Yun Ling Dato Ir Kamarul Zaman bin Mohd Ali Ng Kee Leen Goon Heng Wah Ha Tiing Tai Saw Wah Theng Chow Chee Wah PEMEGANG SAHAM TERBESAR Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama) Bil. Nama pemegang saham Pegangan saham % 1 Generasi Setia (M) Sdn Bhd 82,986, Dato Lin Yun Ling 48,962, Employees Provident Fund Board 44,009, Ha Tiing Tai 12,707, Ng Kee Leen 11,136, Malaysia Nominees (Tempatan) Sendirian Berhad 10,609, Great Eastern Life Assurance (Malaysia) Berhad (MLF) 7 Sukma Sinaran Sdn Bhd 10,102, PAB Nominee (Tempatan) Sdn Bhd 9,500, Akaun Sekuriti Dicagarkan bagi Generasi Setia (M) Sdn Bhd 9 EB Nominees (Tempatan) Sendirian Berhad 8,138, Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang 10 Citicorp Nominees (Asing) Sdn Bhd 7,811, CBHK PBGSGP bagi Keyport Limited 11 EB Nominees (Tempatan) Sendirian Berhad 7,402, Akaun Sekuriti Dicagarkan bagi Shang Chung Koon Yee 12 Goon Heng Wah 7,071, Amanah Raya Nominees (Tempatan) Sdn Bhd 6,264, Amanah Saham Malaysia 14 EB Nominees (Tempatan) Sendirian Berhad 6,000, Akaun Sekuriti Dicagarkan bagi Chan Yong Chan Kuan Nam 15 Amanah Raya Nominees (Tempatan) Sdn Bhd 5,777, Kuala Lumpur Growth Fund 16 Raja Nazrin Shah 5,300, Khazanah Nasional Berhad 4,840, Nik Anida Binti Nik Manshor 4,671, HLG Nominee (Tempatan) Sdn Bhd 4,586, PB Trustee Services Berhad bagi HLB Growth Fund

118 ANALISIS PEGANGAN SAHAM pada 26 November PEMEGANG SAHAM TERBESAR (samb) Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama) Bil. Nama pemegang saham Pegangan saham % Cartaban Nominees (Asing) Sdn Bhd 4,006, SSBT Fund P001 bagi Morgan Stanley Dean Witter Investment Management Emerging Markets Trust 21 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 3,704, Arab-Malaysian Trustee Bhd bagi BHLB Pacific Dana Al-Ihsan 22 Chan Yong Chan Kuan Nam 3,484, Lembaga Tabung Haji 3,400, Mayban Nominees (Tempatan) Sdn Bhd 3,344, Akaun Sekuriti Dicagarkan bagi Shang Chung Koon Yee 25 Amanah Raya Nominees (Tempatan) Sdn Bhd 3,298, Kuala Lumpur Savings Fund 26 Mayban Nominees (Tempatan) Sdn Bhd 3,240, Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang 27 HSBC Nominees (Asing) Sdn Bhd 3,209, Stichting Pensioenfonds ABP 28 DB (Malaysia) Nominee (Asing) Sdn Bhd 3,200, DBSPN bagi Prudential Assurance Company Singapore (Pte) Limited (Prulink Fund) 29 Malaysia Nominees (Tempatan) Sendirian Berhad 3,175, Great Eastern Life Assurance (Malaysia) Berhad (MLF2) 30 Mayban Nominees (Tempatan) Sdn Bhd 3,127, Mayban Trustees Berhad bagi Kuala Lumpur Regular Savings Fund Jumlah 335,062,

119 ANALISIS PEGANGAN WARAN pada 26 November 2001 PEGANGAN WARAN 1996/2006 Bil.Waran Yang Belum Dilaksanakan : 76,650,642 Tempoh Pelaksanaan : 30/12/ /12/2006 Hak Pelaksanaan : Setiap Waran memberi hak kepada pemegangnya untuk melanggan satu (1) saham biasa baru bernilai RM1.00 dalam Syarikat pada bila-bila masa sepanjang Tempoh Pelaksanaan. Bil. pemegang Bil.Waran Waran 1996/2006 Saiz pegangan 1996/2006 dipegang % , ,000 10,000 2,483 7,727, , , ,405, ,001 3,832, ,368, ,832,533 dan ke atas 4 29,122, Jumlah 2,990 76,650, PEMEGANG WARAN 1996/2006 TERBESAR Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama) Bil.Waran 1996/2006 Bil. Nama pemegang Waran 1996/2006 dipegang % 1 Generasi Setia (M) Sdn Bhd 13,724, Dato Lin Yun Ling 6,453, Malaysia National Insurance Berhad 4,988, Chan Yong Chan Kuan Nam 3,957, Heng Teng Kuang 3,553, Shang Chung Koon Yee 2,500, Ng Kee Leen 2,288, Universal Trustee (Malaysia) Berhad 1,975, SBB Premium Capital Fund 9 Goon Heng Wah 1,788, Ha Tiing Tai 1,704, Citicorp Nominees (Asing) Sdn Bhd 1,574, CBHK PBGSGP bagi Keyport Limited 12 Takaful Nasional Sdn Berhad 1,244, Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,148, Arab-Malaysian Trustee Bhd bagi HLB Penny Stock Fund (5/4-3) 14 HDM Nominees (Tempatan) Sdn Bhd 1,110, HDM Venture Capital Sdn Bhd bagi Tiang Ming Sing 15 RHB Nominees (Tempatan) Sdn Bhd 963, Akaun Sekuriti Dicagarkan bagi Chan Kok Wah 16 Leong Mun Meng 833, Southern Nominees (Tempatan) Sdn Bhd 602, Southern Bank Berhad 18 Lee Muk Siong 580, Universal Trustee (Malaysia) Berhad 487, BHLB Pacific Emerging Companies Growth Fund 20 Citicorp Nominees (Asing) Sdn Bhd 457, CBHK PBGSGP bagi Su Zhou Investments Ltd

120 ANALISIS PEGANGAN WARAN pada 26 November PEMEGANG WARAN 1996/2006 TERBESAR (samb) Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama). Bil.Waran 1996/2006 Bil. Nama pemegang Waran 1996/2006 dipegang % Omega Nominees (Tempatan) Sdn Bhd Akaun Sekuriti Dicagarkan bagi Tan Kai T Teck Chuan 420, Wong Kok Hou 416, BHLB Trustee Berhad 400, TA Comet Fund 24 BHLB Trustee Berhad 373, TA Balanced Fund 25 Amanah Raya Berhad 342, Dana Al-Aiman 26 Hong Chin Chai 300, Lim Thin Peng 294, Lim Thin Peng 282, Ong Boon Kheng 281, Mayban Nominees (Tempatan) Sdn Bhd 250, Mayban Trustees Berhad bagi Amanah Saham PAB Jumlah 55,290, PEGANGAN WARAN 2001/2007 Bil. Waran Yang Diterbitkan : 166,297,668 Tempoh Pelaksanaan : 22/2/ /8/2007 Hak Pelaksanaan : Setiap Waran memberi hak kepada pemegangnya untuk melanggan satu (1) saham biasa baru bernilai RM1.00 dalam Syarikat pada bila-bila masa sepanjang Tempoh Pelaksanaan. Bil. pemegang Bil.Waran Waran 2001/2007 Saiz pegangan 2001/2007 dipegang % , ,000 10,000 5,391 13,973, , , ,545, ,001 8,314, ,201, ,314,884 dan ke atas 3 46,376, Jumlah 6, ,297, PEMEGANG WARAN 2001/2007 TERBESAR Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama). Bil.Waran 2001/2007 Bil. Nama pemegang Waran 2001/2007 dipegang % 1 Generasi Setia (M) Sdn Bhd 20,747, Employees Provident Fund Board 13,389, Dato Lin Yun Ling 12,240,

121 ANALISIS PEGANGAN WARAN pada 26 November PEMEGANG WARAN 2001/2007 TERBESAR (samb) Mengikut Rekod Pendeposit (tanpa mengagregat sekuriti daripada akaun-akaun sekuriti yang berbeza milik orang yang sama). Bil.Waran 2001/2007 Bil. Nama pemegang Waran 2001/2007 dipegang % 4 Malaysia Nominees (Tempatan) Sendirian Berhad 3,637, Great Eastern Life Assurance (Malaysia) Berhad (MLF) 5 Chan Yong Chan Kuan Nam 3,564, Ha Tiing Tai 3,177, Citicorp Nominees (Asing) Sdn Bhd 2,952, CBHK PBGSGP bagi Keyport Limited 8 Ng Kee Leen 2,835, Sukma Sinaran Sdn Bhd 2,661, EB Nominees (Tempatan) Sendirian Berhad 2,535, Akaun Sekuriti Dicagarkan bagi Heng Teng Kuang 11 PAB Nominee (Tempatan) Sdn Bhd 2,375, Akaun Sekuriti Dicagarkan bagi Generasi Setia (M) Sdn Bhd 12 EB Nominees (Tempatan) Sendirian Berhad 1,852, Akaun Sekuriti Dicagarkan bagi Shang Chung Koon Yee 13 Goon Heng Wah 1,703, Amanah Raya Nominees (Tempatan) Sdn Bhd 1,637, Kuala Lumpur Savings Fund 15 Mayban Nominees (Tempatan) Sdn Bhd 1,466, Mayban Trustees Berhad bagi Phileo Equityextra Fund 16 Arab-Malaysian Finance Berhad 1,400, Akaun Sekuriti Dicagarkan bagi Ng Leong Huat 17 Amanah Raya Nominees (Tempatan) Sdn Bhd 1,396, Kuala Lumpur Equity Fund 18 Mayban Nominees (Tempatan) Sdn Bhd 1,377, Mayban Trustees Berhad bagi Kuala Lumpur Aggressive Growth Fund 19 Goon Heng Wah 1,293, Amanah Raya Nominees (Tempatan) Sdn Bhd 1,288, Kuala Lumpur Growth Fund 21 EB Nominees (Tempatan) Sendirian Berhad 1,250, Akaun Sekuriti Dicagarkan bagi Chan Kok Wah 22 Ng Kee Leen 1,238, Arab-Malaysian Nominees (Tempatan) Sdn Bhd 1,159, Arab-Malaysian Trustee Bhd bagi HLB Penny Stock Fund (5/4-3) 24 HDM Nominees (Asing) Sdn Bhd 1,156, DBS Vickers Secs (S) Pte Ltd bagi Mak Wai Nam 25 CIMB Securities Sdn Bhd 1,060, IVT bagi Company 6 26 Malaysia Nominees (Tempatan) Sendirian Berhad 1,049, Great Eastern Life Assurance (Malaysia) Berhad (MLF2) 27 HSBC Nominees (Asing) Sdn Bhd 864, HSBCIT HK bagi JF Malaysia Fund 28 HSBC Nominees (Asing) Sdn Bhd 864, BNY Brussels bagi JF Asean Fund 29 Mayban Nominees (Tempatan) Sdn Bhd 837, Akaun Sekuriti Dicagarkan bagi Shang Chung Koon Yee 30 Mayban Nominees (Tempatan) Sdn Bhd 816, Mayban Trustees Berhad bagi Kuala Lumpur Regular Savings Fund 179 Jumlah 93,820,

122

123 PROXY FORM I/We of being a member of Gamuda Berhad, hereby appoint of or failing him/her, the Chairman of the Meeting* as my/our proxy to vote for me/us on my/our behalf at the Twenty-Fifth Annual General Meeting of the Company to be held at the Ballroom of Kota Permai Golf & Country Club, No. 1, Jalan 31/100A, Section 31, Kota Kemuning, Shah Alam, Selangor Darul Ehsan on Monday, 14 January 2002 at am and at any adjournment thereof. Resolution For Against 1 Adoption of Financial Statements and Reports for the year ended 31 July Declaration of final dividend 3 Approval of Directors fees 4 Re-election of Y Bhg Dato Lin Yun Ling as Director 5 Re-election of Y A M Raja Dato Seri Eleena Azlan Shah as Director 6 Re-election of Mr Ng Kee Leen as Director 7 Re-election of Mr Saw Wah Theng as Director 8 Re-election of Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi as Director 9 Re-election of Y M Raja Dato Seri Abdul Aziz bin Raja Salim as Director 10 Re-election of Y Bhg Datuk Ab Rahman bin Omar as Director 11 Re-election of Tuan Haji Azmi Mat Nor as Director 12 Re-appointment of Messrs Arthur Andersen & Co as Auditors 13 Authority to Directors to issue shares pursuant to Section 132D of the Companies Act, 1965 Please indicate with an "X" or in the boxes provided above how you wish your vote to be cast. If this form is returned without any indication as to how the proxy shall vote, the proxy shall vote or abstain as he/she thinks fit. Signed this day of 2001/2002 No. of ordinary shares held Signature/Common seal of Shareholder * Delete the words or failing him/her, the Chairman of the Meeting if you wish to appoint some other person(s) to be your proxy. Notes 1 A member of the Company entitled to attend and vote at the Meeting is entitled to appoint a proxy or not more than two proxies to attend and vote in his/her stead. A proxy need not be a member of the Company. 2 Where a member appoints two proxies, the appointments shall be invalid unless he/she specifies the proportions of his/her holdings to be represented by each proxy. 3 The Proxy Form must be signed by the appointer or his attorney duly authorised in writing or in the case of a corporation, executed under its common seal or attorney duly authorised in that behalf. 4 If no name is inserted in the space provided for the name of your proxy, the Chairman of the Meeting will act as your proxy. 5 The Proxy Form must be deposited at the Registered Office of the Company situated at No , Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor Darul Ehsan not less than forty-eight (48) hours before the time fixed for holding the Meeting or any adjournment thereof.

124 fold here stamp Registered Office Gamuda Berhad 55-61, Jalan SS22/23, Damansara Jaya Petaling Jaya, Selangor Darul Ehsan Malaysia fold here

125 BORANG PROKSI Saya/Kami beralamat sebagai ahli Gamuda Berhad dengan ini melantik beralamat atau jika beliau tidak hadir, Pengerusi Mesyuarat* sebagai proksi saya/kami untuk mengundi bagi pihak saya/kami di Mesyuarat Agung Tahunan Kedua Puluh Lima yang akan diadakan di Ballroom, Kota Permai Golf & Country Club, No. 1, Jalan 31/100A, Sekysen 31, Kota Kemuning, Shah Alam, Selangor Darul Ehsan pada hari Isnin, 14 Januari 2002, jam pagi dan pada sebarang penangguhannya. Resolusi Menyokong Menentang 1 Penerimaan Penyata Kewangan dan Laporan bagi tahun berakhir 31 Julai Pengisytiharan dividen akhir 3 Meluluskan yuran para Pengarah 4 Pemilihan semula Y Bhg Dato Lin Yun Ling sebagai Pengarah 5 Pemilihan semula Y A M Raja Dato Seri Eleena Azlan Shah sebagai Pengarah 6 Pemilihan semula Encik Ng Kee Leen sebagai Pengarah 7 Pemilihan semula Encik Saw Wah Teng sebagai Pengarah 8 Pemilihan semula Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi sebagai Pengarah 9 Pemilihan semula Y M Raja Dato Seri Abdul Aziz bin Raja Salim sebagai Pengarah 10 Pemilihan semula Y Bhg Datuk Ab Rahman bin Omar sebagai Pengarah 11 Pemilihan semula Tuan Haji Azmi Mat Nor sebagai Pengarah 12 Perlantikan semula Tetuan Arthur Andersen & Co sebagai Juruaudit 13 Kuasa kepada para Pengarah untuk menerbitkan saham selaras dengan Seksyen 132D Akta Syarikat, 1965 Sila tandakan X atau dalam kotak-kotak yang disediakan di atas mengenai cara bagaimana undian anda ingin dilakukan. Sekiranya borang ini dikembalikan tanpa apa-apa penentuan mengenai cara pengundian, proksi tersebut akan mengundi atau mengecualikan diri daripada mengundi mengikut pertimbangan beliau. Bertarikh pada haribulan 2001/2002 Bilangan saham biasa dipegang Tandatangan/Meterai rasmi Pemegang Saham * Sila potong perkataan atau jika beliau tidak hadir, Pengerusi Mesyuarat jika anda ingin melantik sesiapa sebagai proksi anda. Nota-nota 1 Seseorang ahli Syarikat yang layak untuk hadir dan mengundi pada Mesyuarat adalah layak untuk melantik seorang proksi atau tidak melebihi dua proksi untuk hadir dan mengundi bagi pihaknya. Proksi tidak semestinya ahli Syarikat. 2 Apabila seseorang ahli melantik dua proksi, perlantikan tersebut akan menjadi tidak sah kecuali nisbah pemegangan beliau yang akan diwakili oleh setiap proksi dinyatakan. 3 Borang Proksi perlu ditandatangani oleh pelantik atau peguamnya yang telah diberi kuasa secara bertulis atau jika perbadanan, disempurnakan di bawah meterai rasminya atau peguamnya yang telah diberi kuasa bagi pihaknya. 4 Jika tiada nama dimasukkan di dalam ruang yang disediakan untuk nama proksi anda, Pengerusi Mesyuarat akan menjadi proksi anda. 5 Borang Proksi perlu dihantar ke Pejabat Berdaftar Syarikat yang terletak di No 55-61, Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor Darul Ehsan tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang telah ditetapkan untuk mengadakan Mesyuarat atau pada sebarang penangguhannya.

126 lipat sini setem Pejabat Berdaftar Gamuda Berhad 55-61, Jalan SS22/23, Damansara Jaya Petaling Jaya, Selangor Darul Ehsan Malaysia lipat sini

127 SPRINT Highway s Kerinchi Link Kerinchi Link di Lebuhraya SPRINT CONTENTS KANDUNGAN 2 Corporate Milestones Mercutanda Korporat 4 Group Awards & Achievements Anugerah & Pencapaian Kumpulan 8 Notice of Annual General Meeting Notis Mesyuarat Agung Tahunan 11 Statement Accompanying Notice of Annual General Meeting Penyata Berserta Notis Mesyuarat Agung Tahunan 12 5 Years Financial Highlights Maklumat Penting Kewangan 5 Tahun 13 Corporate Structure Struktur Korporat 14 Corporate Directory Panduan Korporat 16 Corporate Information Maklumat Korporat 17 Board of Directors Lembaga Pengarah 19 Profile of Directors Profil Para Pengarah 30 Audit Committee Report Laporan Jawatankuasa Audit 33 Directors Statement on Corporate Governance Penyata Para Pengarah Mengenai Tadbir Urus Korporat 42 Chairman s Statement Penyata Pengerusi 44 Review of Operations Tinjauan Operasi 56 Gamuda Corporate Events 2001 Acara Korporat Gamuda Group Community Events 2001 Acara Kemasyarakatan Kumpulan Statement of Directors Responsibility for Preparing the Financial Statements Penyata Tanggungjawab Para Pengarah untuk Menyediakan Penyata Kewangan 61 Financial Statements 121 Penyata Kewangan 111 List of Major Properties Held 171 Senarai Hartanah Utama yang Dimiliki 112 Other Information 172 Maklumat Lain 113 Analysis of Share/Warrant Holdings 173 Analisis Pegangan Saham/Waran Form of Proxy Borang Proksi

128 2 CORPORATE MILESTONES MERCUTANDA KORPORAT 6 October Gamuda Sdn Bhd founded in Ipoh, Perak Gamuda Sdn Bhd diasaskan di Ipoh, Perak Present Directors of Gamuda take over operations of the company Para Pengarah Gamuda sekarang mengambil alih operasi syarikat Present Directors of Gamuda take control of the company in a management buyout and move operations to the Klang Valley Para Pengarah Gamuda sekarang mengambil alih kawalan syarikat dalam satu langkah pengambilalihan pengurusan dan memindahkan operasinya ke Lembah Klang Gamuda obtains Class A Contractor License Gamuda memperolehi Lesen Kontrakor Kelas A Gamuda Sdn Bhd changes name to Gamuda Berhad (Gamuda) Gamuda Sdn Bhd menukar namanya kepada Gamuda Berhad (Gamuda) Gamuda listed on the main board of the Kuala Lumpur Stock Exchange (KLSE) Gamuda disenaraikan di papan utama Bursa Saham Kuala Lumpur (BSKL) Gamuda goes into manufacturing of non-carbon required (NCR) paper and establishes Gamuda Paper Industries (GPI) Gamuda menceburi ke dalam pengilangan kertas tidak memerlukan karbon (NCR) dan Gamuda Paper Industries (GPI) ditubuhkan Gamuda, a partner in the consortium company KESAS Sdn Bhd, signs concession agreement with The Government of Malaysia to construct, operate, maintain and manage the Shah Alam Expressway for 28 years and nine months Gamuda, salah satu rakan kongsi dalam syarikat konsortium KESAS Sdn Bhd, menandatangai perjanjian konsesi dengan Kerajaan Malaysia untuk membina, mengendali, menyenggara dan mengurus Lebuhraya Shah Alam untuk tempoh 28 tahun dan sembilan bulan Gamuda acquires first landbank and ventures into property development with purchase of Ladang Bukit Kemuning at Shah Alam, Selangor Gamuda membeli simpanan tanahnya yang pertama dan menerokai ke dalam pembangunan hartanah dengan pembelian Ladang Bukit Kemuning di Shah Alam, Selangor Kota Kemuning township launched to the public Perbandaran Kota Kemuning dilancarkan kepada orang ramai Employees Share Option Scheme (ESOS) introduced to employees Skim Opsyen Saham Kakitangan (ESOS) diperkenalkan kepada kakitangan

129 CORPORATE MILESTONES MERCUTANDA KORPORAT October 2001 November 2001 LITRAK signs a 33-year concession for the privatisation of the LDP with The Government of Malaysia LITRAK menandatangani konsesi 33 tahun bagi projek penswastaan LDP dengan Kerajaan Malaysia A Scholarship Awards programme for outstanding students pursuing undergraduate studies at local and foreign institutions implemented Program Anugerah Biasiswa untuk penuntut yang melanjutkan pelajaran di peringkat ijazah pertama di institusi pengajian tinggi tempatan dan luar negeri Gamuda obtains MS ISO 9002 accreditation from SIRIM for Building & Civil Engineering systems Gamuda memperolehi akreditasi MS ISO 9002 daripada SIRIM bagi sistem Bangunan & Kejuruteraan Awam SPRINT signs concession agreement with The Government of Malaysia to improve, upgrade, design, construct, maintain, operate and manage SPRINT Highway SPRINT menandatangani perjanjian konsesi dengan Kerajaan Malaysia untuk mempertingkat, menaik taraf, merekabentuk, membina, menyenggara, mengendali dan mengurus Lebuhraya SPRINT Kota Permai Golf & Country Club at Kota Kemuning, Shah Alam opens Kota Permai Golf & Country Club di Kota Kemuning, Shah Alam dibuka Gamuda signs MOU with the Association of Builders Malaysia (ABM) to upgrade construction industry practices Gamuda menandatangani MOU dengan Persatuan Syarikat Pembinaan Malaysia (ABM) untuk memperbaiki amalan dalam industri pembinaan Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) signs concession agreement with the Selangor State Government for the Sungai Selangor Phase 3 (SSP3) project Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) menandatangani perjanjian konsesi dengan Kerajaan Negeri Selangor untuk projek Sungai Selangor Fasa 3 (SSP3) Gamuda takes stake in Dyna Plastics Sdn Bhd, a manufacturer of polymer lithium ion (PLi) batteries in Ipoh, Perak Gamuda menguasai kepentingan dalam Dyna Plastics Sdn Bhd, sebuah pengilang bateri polimer lithium ion (PLi) di Ipoh, Perak Gamuda launches e-project, a portal developed jointly by GIT Services and IBM Malaysia Gamuda melancarkan e-projek, sebuah portal yang dibangunkan secara usahasama oleh GIT Services dan IBM Malaysia Gamuda signs concession agreement with the National Highways Authority of India to undertake the Panagarh-Palsit Highway project in West Bengal, India Gamuda menandatangani perjanjian konsesi dengan Lembaga Lebuhraya Nasional India untuk melaksanakan projek Lebuhraya Panagarh-Palsit di Bengal Barat, India

130 4 GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN 29 June 2001 Megah Sewa Sdn Bhd MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Provision of Rental and Maintenance Services for Construction Plant and Equipment Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan Servis Skop Pendaftaran: Penyediaan Perkhidmatan Sewa dan Penyelenggaraan bagi Loji dan Peralatan Pembinaan 15 June 2001 Lingkaran Trans Kota Holdings Berhad MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Provision of Highway Operations and Maintenance Services Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan Servis Skop Pendaftaran: Penyediaan Operasi Lebuhraya dan Perkhidmatan Penyelenggaraan 16 March 2001 G B Kuari Sdn Bhd MS ISO 14001:1997 Environmental Management Systems Specification with Guidance or Use Scope of Registration: Operation of a Plant for Manufacturing of Premix and Aggregates including Quarrying Sistem Pengurusan Alam Sekitar MS ISO 14001:1997 Spesifikasi dengan Panduan atau Kegunaan Skop Pendaftaran: Operasi Loji bagi Pengilangan Simen Sedia Bancuh dan Agregat termasuk Perkuarian 1 February 2000 Kesas Sdn Bhd MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Management and Operations of Lebuhraya Shah Alam Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan Servis Skop Pendaftaran: Pengurusan dan Operasi Lebuhraya Shah Alam

131 GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN 5 9 August 2000 Dyna Plastics Sdn Bhd Lloyd s Register Quality Assurance: ISO 9001:1994 EN ISO 9001:1994 BS EN ISO 9001:1994 MS ISO 9001:1994 Design and Manufacture of Rechargeable Polymer Lithium Ion Battery Lloyd s Register Quality Assurance: ISO 9001:1994 EN ISO 9001:1994 BS EN ISO 9001:1994 MS ISO 9001:1994 Rekabentuk dan Pengilangan Bateri Ion Lithium Polimer Boleh Cas Semula 15 January 1998 G B Kuari Sdn Bhd MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Manufacture of Aggregates and Premix Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan dan Perkhidmatan Servis Skop Pendaftaran: Pengilangan Agregat dan Simen Sedia Bancuh 3 December 1997 Gamuda Paper Industries Sdn Bhd MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Manufacture of Non-Carbon Required (NCR) Paper Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan Perkhidmatan Servis Skop Pendaftaran: Pengilangan Kertas Tidak Memerlukan Karbon (NCR) 6 February 1997 Gamuda Berhad MS ISO 9002:1994 Quality Systems Model for Quality Assurance in Production, Installation and Servicing Scope of Registration: Provision of Construction Services in Civil and Building Engineering Works Sistem Kualiti MS ISO 9002:1994 Model bagi Jaminan Kualiti dalam Pengeluaran, Pemasangan dan Perkhidmatan Servis Skop Pendaftaran: Penyediaan Perkhidmatan Pembinaan dalam Kerja-kerja Kejuruteraan Awam dan Bangunan

132 Gamuda 6 GROUP AWARDS & ACHIEVEMENTS ANUGERAH & PENCAPAIAN KUMPULAN Hicom-Gamuda Development Sdn Bhd Gamuda Berhad Planning Innovation and Concept Award 2000 by the Malaysian Institute of Planners Anugerah Inovasi dan Konsep Perancangan 2000 oleh Institut Perancang Malaysia Euromoney s Best-Managed Companies in Asia 2000 Construction Syarikat Pengurusan Terbaik Euromoney di Asia 2000 Pembinaan Gamuda Berhad The 2000 Reuters Survey of Global Emerging Markets Ranked first in terms of quality of information provided via one-to-one meetings and quality of on-going relationship Rated second for quality of information provided via one-to-one telephone calls as well as quality of information via Third for speed of response and preparation of one-to-one meetings Kaji Selidik Reuters 2000 bagi Pasaran Baru Global Pertama dari segi kualiti maklumat yang diberi melalui pertemuan bersemuka dan kualiti bagi hubungan berterusan Kedua bagi kualiti maklumat yang diberi melalui panggilan telefon serta kualiti maklumat melalui e-mel Ketiga bagi kepantasan tindak balas dan persediaan daripada pertemuan secara bersemuka Gamuda Berhad Construction Industry Development Board The Malaysian Construction Industry Awards 2001 Large Scale Project Award for the Western KL Dispersal Scheme (SPRINT Highway) Lembaga Pembangunan Industri Pembinaan Anugerah Industri Pembinaan Malaysia 2001 Anugerah Projek Berskala Besar bagi Skim Penyuraian KL Barat (Lebuhraya SPRINT) G B Kuari Sdn Bhd Enterprise 50 Awards 2001 for Small & Medium Industries (SMIs) 25th placing Anugerah Perniagaan untuk Industri Kecil & Sederhana (IKS) tempat ke 25

133 building for the future membina untuk masa hadapan

134 NOTICE IS HEREBY GIVEN that the Twenty-Fifth Annual General Meeting of the Company will ADALAH DENGAN INI DIMAKLUMKAN bahawa Mesyuarat Agung Tahunan Syarikat Kedua Puluh Lima akan diadakan di Ballroom, Kota be held at the Ballroom of Kota Permai Golf & Country Club, No. 1, Jalan 31/100A, Section 31, Permai Golf & Country Club, No. 1, Jalan 31/100A, Seksyen 31, Kota Kemuning, Shah Alam, Selangor Darul Ehsan pada hari Isnin, Kota Kemuning, Shah Alam, Selangor Darul Ehsan on Monday, 14 January 2002 at am 14 Januari 2002 jam pagi untuk tujuan melaksanakan urusan-urusan berikut: for the purpose of transacting the following businesses: 8 NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN AGENDA 1 To receive and adopt the Audited Financial Statements for the year ended 31 July 2001 together with the Reports of the Directors and Auditors thereon. 2 To declare a final dividend of 4% per share less 28% income tax for the year ended 31 July To approve the payment of Directors fees for the year ended 31 July To re-elect Y Bhg Dato Lin Yun Ling who retires pursuant to Paragraph 7.28 of the Listing Requirements of the Kuala Lumpur Stock Exchange. 5 To re-elect the following Directors who retire pursuant to Article 64 of the Company s Articles of Association: a Y A M Raja Dato Seri Eleena Azlan Shah b Mr Ng Kee Leen c Mr Saw Wah Theng 6 To re-elect the following Directors who retire pursuant to Article 69 of the Company s Articles of Association: a Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi b Y M Raja Dato Seri Abdul Aziz bin Raja Salim c Y Bhg Datuk Ab Rahman bin Omar d Tuan Haji Azmi Mat Nor 7 To re-appoint Messrs Arthur Andersen & Co as Auditors of the Company and to authorise the Directors to fix their remuneration. Resolution 1 Resolution 2 Resolution 3 Resolution 4 Resolution 5 Resolution 6 Resolution 7 Resolution 8 Resolution 9 Resolution 10 Resolution 11 Resolution 12 8 As Special Business, to consider and if thought fit, to pass the following resolution with or without modifications, as an Ordinary Resolution: Ordinary Resolution Authority To Allot And Issue Shares Pursuant To Section 132D Of The Companies Act, 1965 THAT pursuant to Section 132D of the Companies Act, 1965, the Directors be and are hereby empowered to allot and issue shares in the Company at any time and upon such terms and conditions and for such purposes as the Directors may, in their absolute discretion deem fit including but not limited to such shares as may be issued pursuant to the Employees Share Option Scheme of the Company, provided that the aggregate number of shares issued pursuant to this resolution does not exceed 10% of the issued share capital of the Company for the time being and that the Directors be and are also empowered to obtain the approval for the listing of and quotation for the additional shares so issued on the Kuala Lumpur Stock Exchange and that such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company. Resolution 13 9 To transact any other business for which due notice shall have been given.

135 NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN 9 AGENDA 1 Untuk menerima dan meluluskan Penyata Kewangan Yang Telah Diaudit bagi tahun berakhir 31 Julai 2001 berserta Laporan para Pengarah dan Juruaudit mengenainya. 2 Untuk mengisytiharkan dividen akhir sebanyak 4% sesaham ditolak 28% cukai pendapatan bagi tahun berakhir 31 Julai Untuk meluluskan bayaran yuran para Pengarah bagi tahun berakhir 31 Julai Untuk memilih semula Y Bhg Dato Lin Yun Ling yang bersara selaras dengan Perenggan 7.28 Keperluan Penyenaraian Bursa Saham Kuala Lumpur. 5 Untuk memilih semula para Pengarah berikut yang bersara selaras dengan Artikel 64 Tataurusan Pertubuhan Syarikat: a Y A M Raja Dato Seri Eleena Azlan Shah b Encik Ng Kee Leen c Encik Saw Wah Theng 6 Untuk memilih semula para Pengarah berikut yang bersara selaras dengan Artikel 69 Tataurusan Pertubuhan Syarikat: a Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi b Y M Raja Dato Seri Abdul Aziz bin Raja Salim c Y Bhg Datuk Ab Rahman bin Omar d Tuan Haji Azmi Mat Nor 7 Untuk melantik semula Tetuan Arthur Andersen & Co sebagai Juruaudit Syarikat dan memberi kuasa kepada para Pengarah untuk menetapkan bayaran mereka. Resolusi 1 Resolusi 2 Resolusi 3 Resolusi 4 Resolusi 5 Resolusi 6 Resolusi 7 Resolusi 8 Resolusi 9 Resolusi 10 Resolusi 11 Resolusi 12 8 Sebagai Urusan Khas, untuk mempertimbangkan dan jika difikirkan wajar, meluluskan resolusi berikut dengan atau tanpa pengubahsuaian, sebagai Resolusi Biasa: Resolusi Biasa Kuasa untuk Memperuntuk dan Menerbitkan Saham Selaras Dengan Seksyen 132D Akta Syarikat, 1965 BAHAWA selaras dengan Seksyen 132D Akta Syarikat, 1965, para Pengarah adalah dan dengan ini diberi kuasa untuk memperuntuk dan menerbitkan saham dalam Syarikat pada bila-bila masa dan menurut terma-terma dan syarat-syarat tertentu dan untuk tujuan-tujuan yang mungkin menurut pertimbangan muktamad para Pengarah sesuai termasuk tetapi tidak terhad kepada saham yang mungkin diterbitkan menurut Skim Opsyen Saham Kakitangan Syarikat, dengan syarat bilangan agregat saham yang diterbitkan menurut resolusi ini tidak melebihi 10% daripada modal saham terbitan Syarikat pada masa itu dan bahawa para Pengarah adalah dan dengan ini juga diberi kuasa untuk mendapatkan kelulusan bagi penyenaraian dan sebutharga saham tambahan yang diterbitkan di Bursa Saham Kuala Lumpur dan bahawa kuasa tersebut akan terus berkuatkuasa sehingga penamatan Mesyuarat Agung Tahunan Syarikat yang berikutnya. Resolusi 13 9 Untuk melaksanakan sebarang urusan lain yang mana notis sewajarnya telah diberikan.

136 Notice of Entitlement Date and Dividend Payment Notis Tarikh Kelayakan dan Pembayaran Dividen NOTICE IS ALSO HEREBY GIVEN that a final dividend of 4% less income tax at 28% per ADALAH DENGAN INI JUGA DIMAKLUMKAN bahawa dividen akhir sebanyak 4% ditolak 28% cukai pendapatan untuk setiap saham RM1.00 ordinary share for the year ended 31 July 2001, if approved at the Twenty-Fifth Annual biasa bernilai RM1.00 bagi tahun berakhir 31 Julai 2001, jika diluluskan pada Mesyuarat Agung Tahunan Kedua Puluh Lima akan dibayar General Meeting will be paid on 5 February 2002 to depositors registered in the Record of pada 5 Februari 2002 kepada para pendeposit yang berdaftar di dalam Rekod Pendeposit pada 23 Januari Depositors on 23 January NOTICE OF ANNUAL GENERAL MEETING NOTIS MESYUARAT AGUNG TAHUNAN A Depositor shall qualify for entitlement only in respect of: a b Shares transferred into the Depositor s Securities Account before pm on 23 January 2002, in respect of ordinary transfers; and Shares bought on the Kuala Lumpur Stock Exchange on a cum entitlement basis according to the Rules of the Kuala Lumpur Stock Exchange. By Order of the Board LIM SOO LYE Company Secretary Petaling Jaya, Selangor Darul Ehsan 15 December 2001 Seseorang Pendeposit akan berhak untuk kelayakan hanya berkenaan: a b Saham yang dipindahmilik ke dalam Akaun Sekuriti Pendeposit sebelum jam tengahari pada 23 Januari 2002, bagi pindahmilik biasa; dan Saham yang dibeli di Bursa Saham Kuala Lumpur berdasarkan kelayakan serta menurut Peraturan Bursa Saham Kuala Lumpur. Dengan Perintah Lembaga Pengarah LIM SOO LYE Setiausaha Syarikat Petaling Jaya, Selangor Darul Ehsan 15 Disember 2001 Notes 1 A member of the Company entitled to attend and vote at the Meeting is entitled to appoint a proxy or not more than two proxies to attend and vote in his/her stead. A proxy need not be a member of the Company. 2 Where a member appoints two proxies, the appointments shall be invalid unless he/she specifies the proportions of his/her holdings to be represented by each proxy. 3 The Proxy Form must be signed by the appointer or his attorney duly authorised in writing or in the case of a corporation, executed under its common seal or attorney duly authorised in that behalf. 4 If no name is inserted in the space provided for the name of your proxy, the Chairman of the Meeting will act as your proxy. 5 The Proxy Form must be deposited at the Registered Office of the Company situated at No , Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor Darul Ehsan not less than forty-eight (48) hours before the time fixed for holding the Meeting or any adjournment thereof. Explanatory Notes on Special Business Resolution 13 - Authority To Allot And Issue Shares Pursuant To Section 132D Of The Companies Act, 1965 The proposed Resolution 13 if passed, will empower the Directors to issue shares of the Company up to a maximum of 10% of the issued share capital of the Company for the time being for such purposes as the Directors consider would be in the interest of the Company.This authority, unless revoked or varied by the Company at a general meeting will expire at the conclusion of the next Annual General Meeting of the Company.The rationale for this resolution is to save cost and time for convening a general meeting. Nota-nota 1 Seseorang ahli Syarikat yang layak untuk hadir dan mengundi pada Mesyuarat adalah layak untuk melantik seorang proksi atau tidak melebihi dua proksi untuk hadir dan mengundi bagi pihaknya. Proksi tidak semestinya ahli Syarikat. 2 Apabila seseorang ahli melantik dua proksi, perlantikan tersebut akan menjadi tidak sah kecuali nisbah pemegangan beliau yang akan diwakili oleh setiap proksi dinyatakan. 3 Borang Proksi perlu ditandatangani oleh pelantik atau peguamnya yang telah diberi kuasa secara bertulis atau jika perbadanan, disempurnakan di bawah meterai rasminya atau peguamnya yang telah diberi kuasa bagi pihaknya. 4 Jika tiada nama dimasukkan di dalam ruang yang disediakan untuk nama proksi anda, Pengerusi Mesyuarat akan menjadi proksi anda. 5 Borang Proksi perlu dihantar ke Pejabat Berdaftar Syarikat yang terletak di No 55-61, Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor Darul Ehsan tidak lewat dari empat puluh lapan (48) jam sebelum waktu yang telah ditetapkan untuk mengadakan Mesyuarat atau pada sebarang penangguhannya. Nota-nota Keterangan mengenai Urusan Khas Resolusi 13 Kuasa Untuk Memperuntuk dan Menerbitkan Saham Selaras Dengan Seksyen 132D Akta Syarikat, 1965 Resolusi 13 yang dicadangkan, jika diluluskan akan memberi kuasa kepada para Pengarah untuk menerbitkan saham Syarikat sehingga maksimum 10% daripada modal saham terbitan Syarikat pada masa itu bagi tujuan-tujuan yang menurut pertimbangan para Pengarah adalah untuk kepentingan Syarikat. Kuasa ini, kecuali dibatalkan atau dipelbagaikan oleh Syarikat di mesyuarat agung akan tamat pada penutup Mesyuarat Agung Tahunan Syarikat yang berikutnya. Rasional bagi resolusi ini adalah untuk menjimatkan kos dan masa untuk mengadakan mesyuarat agung.

137 STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING PENYATA BERSERTA NOTIS MESYUARAT AGUNG TAHUNAN 11 (pursuant to Paragraph 8.28(8) of the Listing Requirements of the Kuala Lumpur Stock Exchange) (selaras dengan Perenggan 8.28(8) Keperluan Penyenaraian Bursa Saham Kuala Lumpur) The Board met five (5) times during the financial year and all the meetings were held at the Board Room, No , Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor. The date and time of the Board Meetings are as follows: Lembaga Pengarah telah bermesyuarat sebanyak lima (5) kali pada tahun kewangan ini dan semua mesyuarat diadakan di Bilik Lembaga, No , Jalan SS22/23, Damansara Jaya, Petaling Jaya, Selangor. Tarikh dan masa Mesyuarat Lembaga Pengarah tersebut adalah seperti berikut: Meeting Mesyuarat Date Tarikh Time Masa Fourth Board of Directors Meeting for am Mesyuarat Lembaga Pengarah Keempat bagi tahun 2000 (Wednesday) (Rabu) pagi Fifth Board of Directors Meeting for am Mesyuarat Lembaga Pengarah Kelima bagi tahun 2000 (Wednesday) (Rabu) pagi First Board of Directors Meeting for pm Mesyuarat Lembaga Pengarah Pertama bagi tahun 2001 (Wednesday) (Rabu) 2.30 petang Second Board of Directors Meeting for am Mesyuarat Lembaga Pengarah Kedua bagi tahun 2001 (Monday) (Isnin) pagi Third Board of Directors Meeting for pm Mesyuarat Lembaga Pengarah Ketiga bagi tahun 2001 (Thursday) (Khamis) 3.00 petang The profile of the Directors who are standing for re-election and the attendance of each at the Board Meetings held during the financial year are set out in pages 19 to 29 of the Annual Report. Profil para Pengarah yang menawarkan diri untuk pemilihan semula dan kehadiran setiap ahli Lembaga Pengarah tersebut di Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan dibentangkan di muka surat 19 hingga 29 Laporan Tahunan.

138 640, , , , , , , , , , , , ,879 1,072,615 1,216, Revenue (RM 000) Perolehan (RM 000) Profit Before Taxation (RM 000) Keuntungan Sebelum Cukai (RM 000) Shareholder s Fund (RM 000) Dana Pemegang Saham (RM 000) Group Earnings Per Share (sen) Pendapatan Sesaham Kumpulan (sen) 12 5 YEARS FINANCIAL HIGHLIGHTS MAKLUMAT PENTING KEWANGAN 5 TAHUN RM 000 RM 000 RM 000 RM 000 RM 000 Revenue Perolehan 640, , , , ,283 Profit Before Taxation Keuntungan Sebelum Cukai 131, , , , ,035 Total Assets Jumlah Aset 988,376 1,022,170 1,164,486 1,405,638 2,438,223 Net Tangible Assets Aset Ketara Bersih 618, , ,420 1,067,404 1,212,982 Net Tangible Assets Per Share (sen) Aset Ketara Bersih Sesaham (sen) Group Earnings Per Share (sen) Pendapatan Sesaham Kumpulan (sen) Total Number of Shares Jumlah Saham 289, , , , ,389 Net Profit Keuntungan Bersih 89,189 77, , , ,708 Shareholders' Fund Dana Pemegang Saham 624, , ,879 1,072,615 1,216,015

139 CORPORATE STRUCTURE as at 21 November 2001 STRUKTUR KORPORAT pada 21 November Expressway Tolling & Management Kutipan Tol & Pengurusan Lebuhraya - Lingkaran Trans Kota Holdings Berhad 41% - Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd 42% -Kesas Holdings Berhad 30% - Madang Permai Sdn Bhd 36% -Mapex Infrastructure Private Limited [through Gamuda- WCT (Offshore) Private Limited] 50% Trading Perdagangan - Gamuda Trading Sdn Bhd 100% - GPI Trading Sdn Bhd [through Gamuda Paper Industries Sdn Bhd] 95% Construction Pembinaan - Gammau Construction Sdn Bhd 100% - Gamuda Engineering Sdn Bhd 100% - Masterpave Sdn Bhd 100% - Ganaz Bina Sdn Bhd 100% - Gamuda (India) Private Limited 100% - Gamuda-WCT (India) Private Limited 70% Water Supply & Treatment Bekalan & Rawatan Air - Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) [through Gabungan Cekap Sdn Bhd] 30% - Gamuda Water Sdn Bhd [formerly known as The Sweet Water Management Sdn Bhd] 80% Property Development Pembangunan Hartanah - Hicom-Gamuda Development Sdn Bhd 50% - Danau Permai Resort Berhad [through Hicom-Gamuda Development Sdn Bhd] 50% -Valencia Development Sdn Bhd 80% - Harum Intisari Sdn Bhd 100% Investment Pelaburan - Gamuda Overseas Investment Ltd 100% - Megah Capital Sdn Bhd 100% - Gabungan Cekap Sdn Bhd 30% - Gamuda (Offshore) Private Limited 100% - Gamuda-WCT (Offshore) Private Limited [through Gamuda (Offshore) Private Limited] 50% Manufacturing, Quarrying, Plant Hire & Others Perkilangan, Perkuarian, Penyewaan Loji & Lain-lain - Gamuda Paper Industries Sdn Bhd 95% -G B Kuari Sdn Bhd [through Ganaz Bina Sdn Bhd] 100% - Dyna Plastics Sdn Bhd 44% - Megah Management Services Sdn Bhd 100% - Megah Sewa Sdn Bhd 100% - Sussen (Malaysia) Sdn Bhd 50% - Reka Strategi Sdn Bhd 100% Information Technology Teknologi Maklumat -GIT Services Sdn Bhd 100%

140 14 CORPORATE DIRECTORY PANDUAN KORPORAT Gamuda Berhad 55-61, Jalan SS 22/23, Damansara Jaya, Petaling Jaya, Selangor Tel Fax Website Gamuda Engineering Sdn Bhd 55-61, Jalan SS 22/23, Damansara Jaya, Petaling Jaya, Selangor Tel Fax Lingkaran Trans Kota Holdings Berhad Kompleks Operasi LITRAK, KM19, Lebuhraya Damansara-Puchong, Bandar Sunway PJS Petaling Jaya, Selangor Tel Fax Website Kesas Holdings Berhad 1,Wisma Kesas, Lebuhraya Shah Alam, Subang Jaya, Selangor Tel Fax Website Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd Pejabat Operasi, KM 3, Hubungan Damansara, Lebuhraya SPRINT, Seksyen Petaling Jaya, Selangor Tel Fax Website Syarikat Pengeluar Air Sungai Selangor Sdn Bhd Lot 28, Jalan SS 22/21, Damansara Jaya,47400 Petaling Jaya, Selangor Tel Fax Website Hicom-Gamuda Development Sdn Bhd No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax Website Kota Permai Golf & Country Club 1, Jalan 31/100A, Seksyen 31, Kota Kemuning, Shah Alam, Selangor Tel Fax Website Valencia Development Sdn Bhd No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax Website Harum Intisari Sdn Bhd No. 1, Jalan Anggerik Vanilla X 31/X, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax

141 CORPORATE DIRECTORY PANDUAN KORPORAT 15 Gamuda Trading Sdn Bhd , Jalan SS 22/23, Damansara Jaya, Petaling Jaya, Selangor Tel Fax Megah Landscape Sdn Bhd 2A, Persiaran Anggerik Vanilla, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax Gamuda-Mujur Minat JV 26-32, Jalan 6/62A, Bandar Menjalara, Kuala Lumpur Tel Fax Megah Sewa Sdn Bhd 16, Jalan Anggerik Mukara, Seksyen 31/48, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax Gamuda Plant Operator School 16, Jalan Anggerik Mukara, Seksyen 31/48, Kota Kemuning, Seksyen 31, Shah Alam, Selangor Tel Fax G B Kuari Sdn Bhd 160, Jalan Gopeng, Ipoh, Perak Tel Fax GIT Services Sdn Bhd 70B, Jalan SS 22/21, Damansara Jaya, Petaling Jaya, Selangor Tel Fax Website Masterpave Sdn Bhd 55-61, Jalan SS 22/23, Damansara Jaya, Petaling Jaya, Selangor Tel Fax Ganaz Bina Sdn Bhd 158, Jalan Gopeng, Ipoh, Perak Tel Fax Gamuda Paper Industries Sdn Bhd GPI Trading Sdn Bhd 6, Jalan Jurutera U1/23, Hicom Glenmarie Industrial Park, Shah Alam, Selangor Tel Fax Website Dyna Plastics Sdn Bhd 169, Hala Perusahaan Menglembu 13, Kawasan Perindustrian Menglembu, Ipoh, Perak Tel Fax dynaiph@tm.net.my

142 left kiri: Chairman Pengerusi Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim right kanan: 1 Y Bhg Dato Lin Yun Ling 2 Y Bhg Tan Sri Dato' Mohd Ramli bin Kushairi 3 Y M Raja Dato Seri Abdul Aziz bin Raja Salim 4 Mr Ng Kee Leen 5 Y A M Raja Dato Seri Eleena Azlan Shah 6 Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali 7 Ms Wong Chin Yen 8 Y Bhg Datuk Ab Rahman bin Omar 9 Mr Goon Heng Wah 10 Mr Ha Tiing Tai 11 Mr Saw Wah Theng 12 Tuan Haji Azmi Mat Nor 13 Mr Chow Chee Wah 16 CORPORATE INFORMATION MAKLUMAT KORPORAT BOARD OF DIRECTORS LEMBAGA PENGARAH Non-Independent Non-Executive Chairman Pengerusi Bukan Eksekutif Bukan Bebas Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Managing Director Pengarah Urusan Y Bhg Dato Lin Yun Ling Non-Independent Non-Executive Director Pengarah Bukan Eksekutif Bukan Bebas Y A M Raja Dato Seri Eleena Azlan Shah Independent Non-Executive Directors Pengarah Bukan Eksekutif Bebas Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Y M Raja Dato Seri Abdul Aziz bin Raja Salim Y Bhg Datuk Ab Rahman bin Omar Ms Wong Chin Yen Executive Directors Pengarah Eksekutif Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali Mr Ng Kee Leen Mr Goon Heng Wah Mr Ha Tiing Tai Mr Saw Wah Theng Tuan Haji Azmi Mat Nor Mr Chow Chee Wah (Alternate to Y Bhg Dato Lin Yun Ling) AUDIT COMMITTEE JAWATANKUASA AUDIT Chairman Pengerusi Y M Raja Dato Seri Abdul Aziz bin Raja Salim Members Ahli-ahli Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Mr Ng Kee Leen Ms Wong Chin Yen NOMINATION COMMITTEE JAWATANKUASA PENCALONAN Chairman Pengerusi Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Members Ahli-ahli Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Ms Wong Chin Yen REMUNERATION COMMITTEE JAWATANKUASA IMBUHAN Chairman Pengerusi Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Members Ahli-ahli Y Bhg Dato Lin Yun Ling Y M Raja Dato Seri Abdul Aziz bin Raja Salim COMPANY SECRETARY SETIAUSAHA SYARIKAT Ms Lim Soo Lye (LS ) REGISTERED OFFICE PEJABAT BERDAFTAR 55-61, Jalan SS22/23 Damansara Jaya Petaling Jaya Selangor Darul Ehsan Tel Fax gbgpa@gamuda.com.my REGISTRAR PENDAFTAR (For Ordinary Share,Warrant 1996/2006 & Warrant 2001/2007) (Bagi Saham Biasa,Waran 1996/2006 & Waran 2001/2007) Insurban Corporate Services Sdn Bhd 149, Jalan Aminuddin Baki Taman Tun Dr Ismail Kuala Lumpur Tel Fax AUDITORS JURUAUDIT Arthur Andersen & Co Public Accountants Akauntan Awam PRINCIPAL BANKER BANK UTAMA Malayan Banking Berhad STOCK EXCHANGE LISTING PENYENARAIAN BURSA SAHAM Main Board Kuala Lumpur Stock Exchange Papan Utama Bursa Saham Kuala Lumpur WEBSITE LAMAN WEB

143 1 2 3 BOARD OF DIRECTORS LEMBAGA PENGARAH 17 4 & 5 6 &

144 enhancing value for our customers mempertingkatkan nilai untuk pelanggan

145 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 19 Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim, Malaysian, aged 66, is the Non-Independent Non-Executive Chairman of Gamuda. He was first appointed to the Board on 26 March 1992 and was subsequently appointed Chairman of the Audit Committee. He relinquished his position as Chairman of the Audit Committee on 16 October He also serves as the Chairman of the Remuneration and Nomination Committees. He holds a Diploma in Civil Engineering from Brighton Technical College, United Kingdom and a Masters degree in Management from the Asian Institute of Management, Manila, Philippines. Tan Sri Dato Ir Talha is a Professional Engineer registered with the Board of Engineers, Malaysia and a Chartered Engineer registered with the Engineering Council, United Kingdom. He is also a Fellow of the Institution of Engineers Malaysia, a Fellow of the Institution of Civil Engineers, United Kingdom and a Fellow of the Institution of Highways and Transportation, United Kingdom. He worked with the Jabatan Kerja Raya Malaysia (JKR) for 31 years where he last served as Director-General overseeing the planning, design, construction and maintenance of public roads and water supplies, government buildings, airports and marine ports. On his retirement from public service, he was appointed the Chairman of Sepakat Setia Perunding Sdn Bhd, a consultant engineering firm. Tan Sri Dato Ir Talha was also the President of the Board of Engineers Malaysia, a member of the Board of Directors of the Malaysian Highway Authority, Chairman of the Central Registration Committee of Government Contractors, Council Member of the Universiti Teknologi Malaysia and Council Member of the Scientific and Research Institute of Malaysia. Currently, he also sits on the Boards of Hume Industries (Malaysia) Berhad, Sapura Telecommunications Berhad, SHL Consolidated Berhad, Sunway City Berhad and several private limited companies. As at 31 July 2001, he held 825,828 ordinary shares, 110,110 Warrant 1996/2006 and 206,457 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim, warganegara Malaysia, berusia 66 tahun, merupakan Pengerusi Bukan Eksekutif Bukan Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 26 Mac 1992 dan seterusnya dilantik sebagai Pengerusi Jawatankuasa Audit. Beliau meletak jawatan sebagai Pengerusi Jawatankuasa Audit pada 16 Oktober Beliau juga berkhidmat sebagai Pengerusi Jawatankuasa Imbuhan dan Jawatankuasa Pencalonan. Beliau berkelulusan Diploma Kejuruteraan Awam dari Brighton Technical College, United Kingdom dan ijazah Sarjana Pengurusan dari Asian Institute of Management, Manila, Filipina. Tan Sri Dato Ir Talha adalah seorang Jurutera Profesional yang berdaftar dengan Lembaga Jurutera, Malaysia dan seorang Jurutera Bertauliah berdaftar dengan Engineering Council, United Kingdom. Beliau juga merupakan Fellow Institut Jurutera Malaysia, Fellow Institution of Civil Engineers, United Kingdom dan Fellow Institution of Highways and Transportation, United Kingdom. Beliau pernah berkhidmat dengan Jabatan Kerja Raya Malaysia (JKR) selama 31 tahun di mana jawatan terakhir beliau adalah sebagai Ketua Pengarah yang bertanggungjawab mengawal selia perancangan, rekabentuk, pembinaan dan penyelenggaraan jalan awam dan bekalan air, bangunan kerajaan, lapangan terbang dan pelabuhan. Selepas bersara daripada perkhidmatan awam, beliau telah dilantik sebagai Pengerusi Sepakat Setia Perunding Sdn Bhd, sebuah firma perunding kejuruteraan. Tan Sri Dato Ir Talha turut menjadi Presiden Lembaga Jurutera Malaysia, Ahli Lembaga Pengarah Lembaga Lebuhraya Malaysia. Pengerusi Jawatankuasa Pendaftaran Pusat Kontraktor Kerajaan, Ahli Majlis Universiti Teknologi Malaysia dan Ahli Majlis Institut Saintifik dan Penyelidikan Malaysia. Kini, beliau juga menganggotai Lembaga Pengarah Hume Industries (Malaysia) Berhad, Sapura Telecommunications Berhad, SHL Consolidated Berhad, Sunway City Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang sebanyak 825,828 saham biasa, 110,110 Waran 1996/2006 dan 206,457 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda.

146 20 PROFILE OF DIRECTORS PROFIL PARA PENGARAH Except for recurrent related party transaction of revenue nature which is necessary for the day-to-day operations of Gamuda and its subsidiaries in respect of engineering consultancy services rendered by Sepakat Setia Perunding Sdn Bhd, a company in which Tan Sri Dato Ir Talha is a major shareholder and Director, there are no other business arrangements with Gamuda in which he has a personal interest. He attended four (4) of the five (5) Board Meetings held during the financial year ended 31 July Y Bhg Dato Lin Yun Ling, Malaysian, aged 46, is the Managing Director of Gamuda. He was first appointed to the Board as Managing Director on 10 February He is also a member of the Remuneration Committee. Dato Lin is a civil engineer by profession. He holds a Bachelor of Science (Honours) degree in Civil Engineering from the University of London, United Kingdom. He joined Gamuda in 1977 as Project Manager. Under his leadership, Gamuda has been transformed into a diversified group of companies involved in construction, infrastructure concessions, property development and manufacturing. Dato Lin also sits on the Board of Directors of Lingkaran Trans Kota Holdings Berhad, Danau Permai Resort Berhad and several private limited companies. As at 31 July 2001, he held 56,848,818 ordinary shares, 500,000 employees share options, 8,053,442 Warrant 1996/2006 and 12,240,551 Warrant 2001/2007 of Gamuda and does not have any securities holdings in any subsidiaries of Gamuda. He attended all five (5) Board Meetings held during the financial year ended 31 July Kecuali urusniaga pihak berkaitan berulang-ulang yang berbentuk menjana hasil yang perlu untuk operasi harian Gamuda dan subsidiari-subsidiarinya bagi khidmat rundingan kejuruteraan yang diberi oleh Sepakat Setia Perunding Sdn Bhd, sebuah syarikat di mana Tan Sri Dato Ir Talha merupakan seorang pemegang saham utama dan Pengarah, tidak terdapat sebarang pengaturan perniagaan lain dengan Gamuda di mana beliau mempunyai kepentingan peribadi. Beliau telah menghadiri empat (4) daripada lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Y Bhg Dato Lin Yun Ling, warganegara Malaysia, berusia 46 tahun, adalah Pengarah Urusan Gamuda. Beliau mula dilantik ke Lembaga Pengarah sebagai Pengarah Urusan pada 10 Februari Beliau juga merupakan ahli Jawatankuasa Imbuhan, Dato Lin adalah seorang jurutera awam. Beliau berkelulusan ijazah Sarjana Muda Sains (Kepujian) jurusan Kejuruteraan Awam dari University of London, United Kingdom. Beliau menyertai Gamuda pada tahun 1977 sebagai Pengurus Projek. Di bawah kepimpinan beliau, Gamuda telah berubah menjadi sebuah kumpulan syarikat berpelbagai yang terlibat dalam aktiviti pembinaan, konsesi infrastruktur, pembangunan hartanah dan perkilangan. Dato Lin turut menganggotai Lembaga Pengarah Lingkaran Trans Kota Holdings Berhad, Danau Permai Resort Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang 56,848,818 saham biasa, 500,000 opsyen saham kakitangan, 8,053,442 Waran 1996/2006 dan 12,240,551 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001.

147 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 21 Y Bhg Tan Sri Dato' Mohd Ramli bin Kushairi, Malaysian, aged 65, is an Independent Non-Executive Director of Gamuda. He was first appointed to the Board on 22 October He is also a member of the Audit and Nomination Committees.Tan Sri Dato Mohd Ramli graduated with a Bachelor of Arts (Honours) degree in Social Science from Hull University, England and did post-graduate work at King's College, London University. He began his career in the public service in 1961 as Assistant Secretary, Bank Negara Malaysia. From 1965 to 1974, he served in senior positions at the Tariff Advisory Board, Federal Agricultural Marketing Authority and the Federation of Malaysian Manufacturers. From 1972 to 1983, he served as a Director and subsequently the Group Managing Director of Kumpulan Fima Berhad. Tan Sri Dato Mohd Ramli was formerly Vice- President of Dewan Perniagaan Melayu Malaysia, Secretary-General of National Chamber Of Commerce And Industry and Secretary-General of ASEAN-Chambers Of Commerce And Industry. He was also formerly the UMNO Liaison Secretary Wilayah Persekutuan from 1980 to 1982 and a member of the Advisory Board, Dewan Bandaraya Kuala Lumpur. Currently he is a member of the Board of National Productivity Corporation and National Standards & Accreditation Council and Chairman of the Council s National Standards Committee. Tan Sri Dato Mohd Ramli is also the Chairman of South Malaysia Industries Berhad, Chairman of Sin Kean Boon Group Berhad, Director of DMIB Berhad, L&M Corporation (M) Berhad, Masscorp Berhad and several private limited companies. He does not have any securities holdings in Gamuda or in any subsidiaries of Gamuda. He did not attend any of the Board Meetings held during the financial year as he was appointed as Director after the financial year-end. Y Bhg Tan Sri Dato' Mohd Ramli bin Kushairi, warganegara Malaysia, berusia 65 tahun. Beliau adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 22 Oktober Beliau juga merupakan ahli Jawatankuasa Audit dan Jawatankuasa Pencalonan. Tan Sri Dato Mohd Ramli berkelulusan ijazah Sarjana Muda Sastera (Kepujian) jurusan Sains Sosial dari Hull University, England. Selepas itu, beliau melanjutkan pengajian ke peringkat sarjana di King's College, London University. Beliau memulakan kerjaya beliau dalam perkhidmatan awam pada tahun 1961 sebagai Penolong Setiausaha, Bank Negara Malaysia. Dari tahun 1965 hingga 1974, beliau berkhidmat dalam beberapa jawatan kanan di Lembaga Penasihat Tarif, Lembaga Pemasaran Pertanian Persekutuan dan Persekutuan Pekilang-Pekilang Malaysia. Dari tahun 1972 hingga 1983, beliau berkhidmat sebagai Pengarah dan seterusnya sebagai Pengarah Urusan Kumpulan Fima Berhad. Tan Sri Dato Mohd Ramli adalah bekas Naib Presiden Dewan Perniagaan Melayu Malaysia, Ketua Setiausaha Dewan Perdagangan dan Industri Nasional dan Ketua Setiausaha Dewan Perdagangan dan Industri-ASEAN. Beliau juga adalah bekas Setiausaha Perhubungan UMNO Wilayah Persekutuan dari tahun 1980 hingga 1982 dan ahli Lembaga Penasihat, Dewan Bandaraya Kuala Lumpur. Kini beliau merupakan seorang ahli Lembaga Perbadanan Produktiviti Negara dan Majlis Piawaian & Akreditasi Negara dan Pengerusi Jawatankuasa Majlis Piawaian Negara. Tan Sri Dato Mohd Ramli juga merupakan Pengerusi South Malaysia Industries Berhad, Pengerusi Sin Kean Boon Group Berhad, Pengarah DMIB Berhad, L&M Corporation (M) Berhad, Masscorp Berhad dan beberapa syarikat sendirian berhad. Beliau tidak mempunyai sebarang pegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda. Beliau tidak menghadiri sebarang Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan ini kerana beliau dilantik sebagai Pengarah selepas tahun kewangan berakhir.

148 22 PROFILE OF DIRECTORS PROFIL PARA PENGARAH Y M Raja Dato' Seri Abdul Aziz bin Raja Salim, Malaysian, aged 63, is an Independent Non-Executive Director of Gamuda. He was first appointed to the Board on 22 October He is also the Chairman of the Audit Committee and a member of the Remuneration Committee. Y M Raja Dato Seri Abdul Aziz is a Honorary Fellow of The Malaysian Institute of Taxation, Fellow of The Chartered Association of Certified Accountants, United Kingdom, Fellow of The Chartered Institute of Management Accountants (CIMA), United Kingdom and a Chartered Accountant (Malaysia). He served as Director-General of Inland Revenue Malaysia from 1980 to 1990 and Accountant-General Malaysia from 1990 to Y M Raja Dato Seri Abdul Aziz was the President of CIMA, Malaysia Division from 1976 to 1993, a Council Member of CIMA, United Kingdom from 1990 to 1996 and was the only Malaysian then to be awarded the CIMA Gold Medal in recognition of his outstanding service to the accounting profession. He has been a Council Member of the Malaysian Institute of Accountants since 1998 and is presently the Chairman of its Committee on Internal Audit. Y M Raja Dato Seri Abdul Aziz is also the Chairman of the Audit Committees of K&N Kenanga Holdings Berhad, Camerlin Group Berhad and Jerneh Asia Berhad and a Director of Amanah Saham Mara Berhad, K&N Unit Trust Berhad, Jerneh Insurance Berhad, Tasek Corporation Berhad, PPB (Oil) Palms Berhad and several private limited companies. He does not have any securities holdings in Gamuda or in any subsidiaries of Gamuda. He did not attend any of the Board Meetings held during the financial year as he was appointed a Director after the financial year-end. Y M Raja Dato' Seri Abdul Aziz bin Raja Salim, warganegara Malaysia, berusia 63, adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 22 Oktober Beliau juga merupakan Pengerusi Jawatankuasa Audit dan ahli Jawatankuasa Imbuhan, Y M Raja Dato Seri Abdul Aziz adalah seorang Fellow Kehormat Institut Percukaian Malaysia, Fellow The Chartered Association of Certified Accountants, United Kingdom, Fellow The Chartered Institute of Management Accountants (CIMA), United Kingdom dan seorang Akauntan Bertauliah (Malaysia). Beliau berkhidmat sebagai Ketua Pengarah Jabatan Hasil Dalam Negeri Malaysia dari tahun 1980 hingga 1990 dan Ketua Akauntan Malaysia dari tahun 1990 hingga 1994.Y M Raja Dato Seri Abdul Aziz adalah bekas Presiden CIMA, Bahagian Malaysia dari tahun 1976 hingga 1993, seorang Ahli Majlis CIMA, United Kingdom dari tahun 1990 hingga 1996 dan merupakan satu-satunya rakyat Malaysia ketika itu yang dianugerahkan dengan Pingat Emas CIMA sebagai pengiktirafan atas khidmat cemerlang beliau dalam profesion perakaunan. Beliau adalah Ahli Majlis Institut Akauntan Malaysia sejak tahun 1998 dan kini merupakan Pengerusi Jawatankuasa Audit Dalamannya. Y M Raja Dato Seri Abdul Aziz juga merupakan Pengerusi Jawatankuasa Audit K&N Kenanga Holdings Berhad, Camerlin Group Berhad dan Jerneh Asia Berhad dan Pengarah Amanah Saham Mara Berhad, K&N Unit Trust Berhad, Jerneh Insurance Berhad, Tasek Corporation Berhad, PPB (Oil) Palms Berhad dan beberapa syarikat sendirian berhad. Beliau tidak mempunyai sebarang pegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda. Beliau tidak menghadiri sebarang Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan ini kerana beliau dilantik sebagai Pengarah selepas tahun kewangan berakhir.

149 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 23 Mr Ng Kee Leen, Malaysian, aged 45, is an Executive Director of Gamuda. He was first appointed to the Board on 20 September He also serves as a member of the Audit Committee. Mr Ng has been with Gamuda since 1977 during which time he has held various senior management positions. He has extensive experience in tender, finance and implementation of infrastructure projects. He currently oversees the business development of new projects. Mr Ng also sits on the Boards of Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad and several private limited companies. As at 31 July 2001, he held 14,516,114 ordinary shares, 500,000 employees share options, 2,288,000 Warrant 1996/2006 and 4,308,335 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended all five (5) Board Meetings held during the financial year ended 31 July Y A M Raja Dato Seri Eleena Azlan Shah, Malaysian, aged 41, is a Non-Independent Non- Executive Director of Gamuda. She was first appointed to the Board on 1 June 1992.Y A M Raja Dato Seri Eleena is a Barrister-at-Law from Lincoln s Inn, London, United Kingdom. She was called to the English Bar in Upon returning to Malaysia, she joined Messrs Skrine & Co and was called to the Malaysian Bar in She left Messrs Skrine & Co in 1987 to set up her own practice, Messrs Raja Eleena, Siew Ang & Associates. Y A M Raja Dato Seri Eleena is also a Director of KAF-Seagroatt & Campbell Berhad. As at 31 July 2001, she was deemed interested in 92,486,928 ordinary shares, 13,724,000 Warrant 1996/2006 and 23,122,000 Warrant 2001/2007 of Gamuda held by Generasi Setia (M) Sdn Bhd and did not have any securities holdings in any subsidiaries of Gamuda. Generasi Setia (M) Sdn Bhd, a major shareholder of Gamuda, is a company owned by her.y A M Raja Dato Seri Eleena is the niece of Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali. She attended four (4) of the five (5) Board Meetings held during the financial year ended 31 July Encik Ng Kee Leen, warganegara Malaysia, berusia 45 tahun, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 20 September Beliau juga berkhidmat sebagai ahli Jawatankuasa Audit. Sejak menyertai Gamuda pada tahun 1977, Encik Ng pernah memegang pelbagai jawatan pengurusan kanan. Beliau mempunyai pengalaman luas dalam bidang tender, kewangan dan pelaksanaan projek infrastruktur. Kini beliau menyelia perkembangan perniagaan projek-projek baru. Encik Ng turut menganggotai Lembaga Pengarah Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang 14,516,114 saham biasa, 500,000 opsyen saham kakitangan, 2,288,000 Waran 1996/2006 dan 4,308,335 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Y A M Raja Dato Seri Eleena Azlan Shah, warganegara Malaysia, berusia 41 tahun, adalah Pengarah Bukan Eksekutif Bukan Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Jun 1992.Y A M Raja Dato Seri Eleena berkelulusan Barrister-at-Law dari Lincoln s Inn, London, United Kingdom. Beliau ditauliah sebagai peguam di English Bar pada tahun Sekembali ke Malaysia, beliau menyertai Messrs Skrine & Co dan ditauliah di Majlis Peguam Malaysia pada tahun Beliau meninggalkan Messrs Skrine & Co pada tahun1987 untuk menubuhkan firma guaman beliau sendiri, Messrs Raja Eleena, Siew Ang & Associates. Y A M Raja Dato Seri Eleena juga merupakan Pengarah KAF-Seagroatt & Campbell Berhad. Pada 31 Julai 2001, beliau dianggap mempunyai kepentingan dalam 92,486,928 saham biasa, 13,724,000 Waran 1996/2006 dan 23,122,000 Waran 2001/2007 Gamuda yang dipegang oleh Generasi Setia (M) Sdn Bhd dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Generasi Setia (M) Sdn Bhd, salah satu pemegang saham utama Gamuda, adalah syarikat yang dimiliki oleh beliau.y A M Raja Dato Seri Eleena adalah anak saudara kepada Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali. Beliau telah menghadiri empat (4) daripada lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001.

150 24 PROFILE OF DIRECTORS PROFIL PARA PENGARAH Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali, Malaysian, aged 65, is an Executive Director of Gamuda. He was first appointed to the Board on 1 June Dato Ir Kamarul Zaman holds a Bachelor of Science degree in Engineering from the Institute of Technology, Brighton, United Kingdom. He was attached to Jabatan Kerja Raya (JKR) Penang from 1962 to 1974 as Quarry Manager and continued to serve JKR Penang from 1978 to Prior to joining G B Kuari Sdn Bhd, a subsidiary of Gamuda, on 1 June 1990, he was attached to the Penang Development Corporation as Senior Engineer from 1981 to Dato Ir Kamarul Zaman also sits on the Boards of Intan Utilities Bhd, Unza Holdings Berhad and several private limited companies. As at 31 July 2001, he held 1,218,000 ordinary shares, 500,000 employees share options, 172,000 Warrant 1996/2006 and 331,500 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. Dato Ir Kamarul Zaman is the uncle of Y A M Raja Dato Seri Eleena Azlan Shah. He attended all five (5) Board Meetings held during the financial year ended 31 July Ms Wong Chin Yen, Malaysian, aged 41, is an Independent Non-Executive Director of Gamuda. She was first appointed to the Board as a Non-Executive Director on 1 June Ms Wong is also a member of the Audit and Nomination Committees. After graduating with a Bachelor of Arts (Honours) degree in Law from the Polytechnic of North London, United Kingdom in 1982, she joined the Honourable Society of Middle Temple in In 1984, she was admitted to the London School of Economics and Political Science where she obtained her Masters of Law degree. From 1985 to 1987, she chambered and worked at Shearn Delamore & Co, a firm of solicitors before she joined American Express (M) Sdn Bhd as Legal and Credit Control Supervisor for the next 3 1/2 years. From 1990 to 1997, she started and managed her own business, providing process service to legal firms. Thereafter, she joined the stock brokerage industry and is presently a Dealer s Representative with HLG Securities Sdn Bhd. Y Bhg Dato Ir Kamarul Zaman bin Mohd Ali, warganegara Malaysia, berusia 65, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Jun Dato Ir Kamarul Zaman berkelulusan ijazah Sarjana Muda Sains dalam jurusan Kejuruteraan dari Institute of Technology, Brighton, United Kingdom. Beliau pernah berkhidmat dengan Jabatan Kerja Raya (JKR) Pulau Pinang dari tahun 1962 hingga 1974 sebagai Pengurus Kuari dan terus berkhidmat dengan JKR Pulau Pinang dari tahun 1978 hingga Sebelum menyertai G B Kuari Sdn Bhd, subsidiari Gamuda, pada 1 Jun 1990, beliau berkhidmat dengan Perbadanan Kemajuan Pulau Pinang sebagai Jurutera Kanan dari tahun 1981 hingga Dato Ir Kamarul Zaman turut menganggotai Lembaga Pengarah Intan Utilities Bhd, Unza Holdings Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang 1,218,000 saham biasa, 500,000 opsyen saham kakitangan, 172,000 Waran 1996/2006 dan 331,500 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Dato Ir Kamarul Zaman adalah bapa saudara kepada Y A M Raja Dato Seri Eleena Azlan Shah. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Cik Wong Chin Yen, warganegara Malaysia, berusia 41 tahun, adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah sebagai Pengarah Bukan Eksekutif pada 1 Jun Cik Wong juga merupakan ahli Jawatankuasa Audit dan Jawatankuasa Pencalonan. Selepas memperolehi ijazah Sarjana Muda Sastera (Kepujian) dalam jurusan Undang-undang dari Polytechnic of North London, United Kingdom pada tahun 1982, beliau menyertai Honourable Society of Middle Temple pada tahun Pada tahun 1984, beliau diterima oleh London School of Economics and Political Science di mana beliau memperolehi ijazah Sarjana Undang-undang. Dari tahun 1985 hingga 1987, beliau menjalani latihan dan bekerja di Shearn Delamore & Co, sebuah firma peguambela sebelum menyertai American Express (M) Sdn Bhd sebagai Penyelia Perundangan dan Kawalan Kredit untuk 3 1/2 tahun berikutnya. Dari tahun 1990 hingga 1997, beliau memula dan mengurus perniagaan beliau sendiri, yang menyediakan khidmat pemprosesan kepada firma-firma guaman. Selepas itu, beliau menyertai industri pembrokeran stok dan kini merupakan Wakil Penjual dengan HLG Securities Sdn Bhd.

151 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 25 Ms Wong does not sit on the Boards of any other public companies. She does not have any securities holdings in Gamuda or in any subsidiaries of Gamuda. She attended all five (5) Board Meetings held during the financial year ended 31 July Y Bhg Datuk Ab Rahman bin Omar, Malaysian, aged 55, is an Independent Non- Executive Director of Gamuda. He was first appointed to the Board on 22 October Datuk Ab Rahman graduated with a Bachelor of Economics (Honours) degree from University of Malaya in 1970 and started his career with the prestigious Administration and Diplomatic Services, serving various government departments. He joined the private sector in Currently he is the Chairman of BHP Steel (Malaysia) Sdn Bhd, Managing Director of Perusahaan Otomobil Kedua Sdn Bhd and a Director of Perusahaan Sadur Timah Malaysia Bhd. He does not have any securities holdings in Gamuda or in any subsidiaries of Gamuda. He did not attend any of the Board Meetings held during the financial year as he was appointed a Director after the financial year-end. Mr Goon Heng Wah, Malaysian, aged 45, is an Executive Director of Gamuda. He was first appointed to the Board on 11 November 1986, resigned on 30 October 1988 and was re-appointed to the Board on 1 June Mr Goon graduated with a Bachelor of Engineering (Honours) degree from the Polytechnic of South Bank, United Kingdom. He held several senior management positions since joining Gamuda in 1978 with responsibilities including management and supervision of major projects. Currently, he oversees project management of the Group s major infrastructure and property development projects and the business development of new infrastructure projects. Cik Wong tidak menganggotai Lembaga Pengarah mana-mana syarikat awam lain. Beliau tidak mempunyai sebarang pegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Y Bhg Datuk Ab Rahman bin Omar, warganegara Malaysia, berusia 55, adalah Pengarah Bukan Eksekutif Bebas Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 22 Oktober Datuk Ab Rahman berkelulusan ijazah Sarjana Muda Ekonomi (Kepujian) dari Universiti Malaya pada tahun 1970 dan memulakan kerjaya beliau dalam Perkhidmatan Pentadbiran dan Diplomatik di beberapa jabatan kerajaan. Beliau mula menyertai sektor swasta pada tahun Buat masa ini, beliau merupakan Pengerusi BHP Steel (Malaysia) Sdn Bhd, Pengarah Urusan Perusahaan Otomobil Kedua Sdn Bhd dan Pengarah Perusahaan Sadur Timah Malaysia Bhd. Beliau tidak mempunyai sebarang pegangan sekuriti dalam Gamuda atau mana-mana subsidiari Gamuda. Beliau tidak menghadiri sebarang Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan ini kerana beliau dilantik sebagai Pengarah selepas tahun kewangan berakhir. Encik Goon Heng Wah, warganegara Malaysia, berusia 45 tahun, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 11 November 1986, meletak jawatan pada 30 Oktober 1988 dan telah dilantik semula ke Lembaga Pengarah pada 1 Jun Encik Goon berkelulusan ijazah Sarjana Muda Kejuruteraan (Kepujian) dari Polytechnic of South Bank, United Kingdom. Sejak menyertai Gamuda pada tahun 1978, beliau telah menyandang beberapa jawatan pengurusan kanan dengan tanggungjawab yang meliputi pengurusan dan penyeliaan projek-projek utama. Kini, beliau menyelia pengurusan projek infrastruktur dan pembangunan hartanah utama Kumpulan dan perkembangan perniagaan projek-projek infrastruktur baru.

152 26 PROFILE OF DIRECTORS PROFIL PARA PENGARAH Mr Goon also sits on the Boards of a number of private limited companies. He is not a Director of any other public companies. As at 31 July 2001, he held 11,471,158 ordinary shares, 500,000 employees share options, 1,788,158 Warrant 1996/2006 and 2,996,000 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended four (4) of the five (5) Board Meetings held during the financial year ended 31 July Mr Ha Tiing Tai, Malaysian, aged 47, is an Executive Director of Gamuda. He was first appointed to the Board on 1 February He holds a Bachelor of Engineering (Honours) degree from the University of Malaya. Mr Ha who has responsibility for the Group s design & technical functions, is a Chartered Engineer with more than 22 years experience in the engineering and construction sectors. Prior to joining Gamuda, he was Associate Director of Hashim & Neh, an engineering consulting firm specialising in turnkey projects. Mr Ha also sits on the Boards of several private limited companies. He is not a Director of any other public companies. As at 31 July 2001, he held 13,207,938 ordinary shares, 500,000 employees share options, 1,704,000 Warrant 1996/2006 and 3,477,000 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended all five (5) Board Meetings held during the financial year ended 31 July Encik Goon turut menganggotai Lembaga Pengarah beberapa syarikat sendirian berhad. Beliau bukan Pengarah mana-mana syarikat awam lain. Pada 31 Julai 2001, beliau memegang sebanyak 11,471,158 saham biasa, 500,000 opsyen saham kakitangan, 1,788,158 Waran 1996/2006 dan 2,996,000 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri empat (4) daripada lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Encik Ha Tiing Tai, warganegara Malaysia, berusia 47 tahun, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Februari Beliau berkelulusan ijazah Sarjana Muda Kejuruteraan (Kepujian) dari Universiti Malaya. Encik Ha yang bertanggungjawab di atas fungsi rekabentuk & teknikal Kumpulan, adalah seorang Jurutera Bertauliah dengan lebih 22 tahun pengalaman dalam sektor kejuruteraan dan pembinaan. Sebelum menyertai Gamuda, beliau merupakan Pengarah di Hashim & Neh, sebuah firma rundingan kejuruteraan yang mengkhusus dalam projek turnkey. Encik Ha turut menganggotai Lembaga Pengarah beberapa syarikat sendirian berhad. Beliau bukan merupakan Pengarah mana-mana syarikat awam lain. Pada 31 Julai 2001, beliau memegang sebanyak, 13,207,938 saham biasa, 500,000 opsyen saham kakitangan, 1,704,000 Waran 1996/2006 dan 3,477,000 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001.

153 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 27 Mr Saw Wah Theng, Malaysian, aged 44, is an Executive Director of Gamuda. He was first appointed to the Board on 1 February He was admitted as an Associate of the Institute of Chartered Accountants in England and Wales in In 1988 he became a member of the Malaysian Institute of Accountants. He has extensive experience in accounting, finance and corporate finance. He was attached to an accounting firm in the United Kingdom from 1981 to Prior to joining the Gamuda Group, he was the Group Financial Controller of Hong Leong Industries Berhad. Mr Saw is responsible for the Group s budgetary control, treasury, tax and corporate finance including mergers and corporate restructuring exercises. He is also a Director of Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad, an Alternate Director in Danau Permai Resort Berhad and a Director of several private limited companies. As at 31 July 2001, he held 100,000 ordinary shares, 500,000 employees share options and 96,000 Warrant 2001/2007 of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended all five (5) Board Meetings held during the financial year ended 31 July Tuan Haji Azmi Mat Nor, Malaysian, aged 43, is an Executive Director of Gamuda. He was first appointed as Alternate Director to Mr Heng Teng Kuang on 22 December He ceased to be an Alternate Director to Mr Heng Teng Kuang on 1 August 2001 when the latter resigned on 1 August He was subsequently appointed to the Board as a Director on 24 September Encik Saw Wah Theng, warganegara Malaysia, berusia 44 tahun, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah pada 1 Februari Beliau diterima sebagai Ahli Bersekutu Institute of Chartered Accountants di England dan Wales pada tahun Pada tahun 1988 beliau menjadi ahli Institut Akauntan Malaysia. Beliau mempunyai pengalaman yang luas dalam bidang perakaunan, kewangan dan kewangan korporat. Beliau pernah berkhidmat dengan sebuah firma perakaunan di United Kingdom dari tahun 1981 hingga Sebelum menyertai Kumpulan Gamuda, beliau adalah Pengawal Kewangan Kumpulan Hong Leong Industries Berhad. Encik Saw bertanggungjawab di atas pengawalan belanjawan, perbendaharaan, cukai dan kewangan korporat Kumpulan meliputi latihan pergabungan dan penyusunan semula korporat. Beliau juga merupakan Pengarah Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad, Pengarah Pengganti di Danau Permai Resort Berhad dan Pengarah beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang 100,000 saham biasa, 500,000 opsyen saham kakitangan dan 96,000 Waran 2001/2007 Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri kesemua lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai Tuan Haji Azmi Mat Nor, warganegara Malaysia, berusia 43 tahun, adalah Pengarah Eksekutif Gamuda. Beliau mula dilantik menganggotai Lembaga Pengarah sebagai Pengarah Pengganti kepada Encik Heng Teng Kuang pada 22 Disember Beliau berhenti menjadi Pengarah Pengganti kepada Encik Heng Teng Kuang pada 1 Ogos 2001 apabila Encik Heng meletak jawatan pada 1 Ogos Beliau kemudiannya dilantik ke Lembaga Pengarah sebagai seorang Pengarah pada 24 September 2001.

154 28 PROFILE OF DIRECTORS PROFIL PARA PENGARAH Tuan Haji Azmi graduated with a Bachelor of Science degree in Civil Engineering in 1983 and a Masters of Science degree in Highway Engineering in 1995, both from the University of Strathclyde, Glasgow, Scotland, United Kingdom. He was Site Engineer for Jabatan Kerja Raya (JKR) Pahang from 1983 to 1984 and Resident Engineer of JKR Selangor from 1984 to 1986.As Resident Engineer, he was responsible for supervision of the construction of army complex, civil work and air force buildings. He was promoted to Maintenance Engineer, JKR Selangor in 1986 where he was responsible for the management of maintenance work for the army complex. From 1987 to 1997 he was the Assistant Director in charge of design and coordination of Central Zone Design Unit under JKR Cawangan Jalan. Tuan Haji Azmi also sits on the Boards of Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad and several private limited companies. As at 31 July 2001, he held 10,000 ordinary shares of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended three (3) of the five (5) Board Meetings held during the financial year ended 31 July 2001 as an Alternate Director (appointed on 22 December 2000). Mr Chow Chee Wah, Malaysian, aged 43, is the Alternate Director to Dato Lin Yun Ling. He holds an Executive position in Gamuda. He was first appointed as an Alternate Director to Mr Chan Kuan Chan Yong Foo on 22 December He ceased to be an Alternate Director to Mr Chan Kuan Chan Yong Foo on 1 August 2001 when the latter resigned on 1 August He was subsequently appointed Alternate Director to Dato' Lin Yun Ling on 24 September He graduated from the University of London, United Kingdom in 1981 with a Bachelor of Science degree in Engineering. He is a member of the Institute of Engineers, Malaysia and has been a Professional Engineer registered with the Board of Engineers since Tuan Haji Azmi berkelulusan ijazah Sarjana Muda Sains dalam jurusan Kejuruteraan Awam pada tahun 1983 dan berkelulusan ijazah Sarjana Sains dalam Kejuruteraan Lebuhraya pada tahun 1995, kedua-duanya dari University of Strathclyde, Glasgow, Scotland, United Kingdom. Beliau merupakan Jurutera Tapak, Jabatan Kerja Raya (JKR) Pahang dari tahun 1983 hingga 1984 dan Jurutera Residen JKR Selangor dari tahun 1984 hingga Sebagai Jurutera Residen, beliau bertanggungjawab terhadap penyeliaan pembinaan kompleks angkatan tentera, kerja awam dan bangunan-bangunan tentera udara. Beliau dinaikkan pangkat ke jawatan Jurutera Penyenggaraan, JKR Selangor pada tahun 1986 di mana beliau bertanggungjawab terhadap pengurusan kerja penyenggaraan bagi kompleks angkatan tentera. Dari tahun 1987 hingga 1997 beliau merupakan Penolong Pengarah yang bertanggungjawab terhadap rekabentuk dan penyelarasan Unit Rekabentuk Zon Tengah di bawah JKR Cawangan Jalan. Tuan Haji Azmi juga menganggotai Lembaga Pengarah Lingkaran Trans Kota Holdings Berhad, Kesas Holdings Berhad dan beberapa syarikat sendirian berhad. Pada 31 Julai 2001, beliau memegang sebanyak 10,000 saham biasa Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri tiga (3) daripada lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001 sebagai Pengarah Pengganti (dilantik pada 22 Disember 2000). Encik Chow Chee Wah, warganegara Malaysia, berusia 43 tahun, adalah Pengarah Pengganti kepada Dato Lin Yun Ling. Beliau menyandang jawatan Eksekutif di Gamuda. Beliau mula dilantik sebagai Pengarah Pengganti kepada Encik Chan Kuan Chan Yong Foo pada 22 Disember Beliau berhenti menjadi Pengarah Pengganti kepada Encik Chan Kuan Chan Yong Foo pada 1 Ogos 2001 apabila Encik Chan meletakkan jawatan pada 1 Ogos Selepas itu, beliau dilantik sebagai Pengarah Pengganti kepada Dato' Lin Yun Ling pada 24 September Beliau berkelulusan dari University of London, United Kingdom pada tahun 1981 dengan ijazah Sarjana Muda Sains dalam jurusan Kejuruteraan. Beliau merupakan ahli Institut Jurutera Malaysia dan seorang Jurutera Profesional yang berdaftar dengan Lembaga Jurutera sejak tahun 1986.

155 PROFILE OF DIRECTORS PROFIL PARA PENGARAH 29 A Chartered Engineer since 1989, he joined Gamuda on 1 April 1995 as Project Coordinator and is currently also the Senior General Manager for Design & Technical Division. He was formerly an Associate Director of Sepakat Setia Perunding Sdn Bhd, a company he was with from 1981 to During this period, he was involved in numerous projects, inter-alia, the design for piled roadway and sub-structure for buildings in the Johor Bahru Waterfront City Project and the design of the North-South Expressway from Pagoh to Ayer Hitam in Johor. Mr Chow is also a Director of several private limited companies. He is not a Director of any other public companies.as at 31 July 2001, he held 2,000 ordinary shares and 450,000 employees share options of Gamuda and did not have any securities holdings in any subsidiaries of Gamuda. He attended three (3) of the five (5) Board Meetings held during the financial year ended 31 July 2001 as an Alternate Director (appointed on 22 December 2000). Beliau yang merupakan seorang Jurutera Bertauliah sejak tahun 1989, menyertai Gamuda pada 1 April 1995 sebagai Penyelaras Projek dan kini merupakan Pengurus Besar Kanan bagi Bahagian Rekabentuk & Teknikal. Beliau adalah bekas Pengarah Bersekutu Sepakat Setia Perunding Sdn Bhd, syarikat di mana beliau berkhidmat dari tahun 1981 hingga Sepanjang tempoh tersebut, beliau terlibat dalam berbagai projek, yang antara lain, rekabentuk jalanraya bercerucuk dan substruktur bagi bangunan di Projek Johor Bahru Waterfront City dan rekabentuk Lebuhraya Utara-Selatan dari Pagoh ke Ayer Hitam di Johor. Encik Chow juga merupakan Pengarah beberapa syarikat sendirian berhad. Beliau bukan Pengarah mana-mana syarikat awam lain. Pada 31 Julai 2001, beliau memegang sebanyak 2,000 saham biasa dan 450,000 opsyen saham kakitangan Gamuda dan tidak mempunyai sebarang pegangan sekuriti dalam mana-mana subsidiari Gamuda. Beliau telah menghadiri tiga (3) daripada lima (5) Mesyuarat Lembaga Pengarah yang diadakan pada tahun kewangan berakhir 31 Julai 2001 sebagai Pengarah Pengganti (dilantik pada 22 Disember 2000). Save as disclosed, none of the Directors have Selain daripada seperti yang dibentangkan, tiada Pengarah mempunyai: any family relationship with any Director and/or major shareholder of Gamuda. sebarang hubungan kekeluargaan dengan mana-mana Pengarah dan/atau pemegang saham utama Gamuda. any conflict of interest with Gamuda; and sebarang konflik kepentingan dengan Gamuda: dan any convictions for offences within the past ten (10) years other than traffic offences. sebarang pembabitan bagi kesalahan dalam tempoh sepuluh (10) tahun lepas selain daripada kesalahan lalulintas. Directors standing for re-election are Para Pengarah yang menawarkan diri untuk pemilihan semula adalah: Y Bhg Dato Lin Yun Ling Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi Y A M Raja Dato Seri Eleena Azlan Shah Y M Raja Dato Seri Abdul Aziz bin Raja Salim Y Bhg Datuk Ab Rahman bin Omar Mr Ng Kee Leen Mr Saw Wah Theng Tuan Haji Azmi Mat Nor

156 COMPOSITION AND DESIGNATION OF THE AUDIT COMMITTEE KOMPOSISI DAN JAWATAN DALAM JAWATANKUASA AUDIT Y M Raja Dato Seri Abdul Aziz bin Raja Salim (appointed on 22 October 2001) Chairman of Audit Committee (Independent Non-Executive Director) (dilantik pada 22 Oktober 2001) Pengerusi Jawatankuasa Audit (Pengarah Bukan Eksekutif Bebas) Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi (appointed on 22 October 2001) Member (Independent Non-Executive Director) (dilantik pada 22 Oktober 2001) Ahli (Pengarah Bukan Eksekutif Bebas) Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim (resigned on 16 October 2001) (Non-Independent Non-Executive Director) (meletak jawatan pada 16 Oktober 2001 ) (Pengarah Bukan Eksekutif Bukan Bebas) Ms Wong Chin Yen Member (Independent Non-Executive Director) Ahli (Pengarah Bukan Eksekutif Bebas) Mr Ng Kee Leen Member (Executive Director) Ahli (Pengarah Eksekutif) 30 AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT OBJECTIVES The principal objectives of the Committee are to protect the interest of the investing public and to have more effective corporate governance. TERMS OF REFERENCE Duties The duties of the Committee shall include the review of the following and report the same to the Board of Directors: i the effectiveness of management information system and other systems of internal control within the Company and the Group; vi vii viii the scope, function and resources of Internal Audit function and the necessary authority to carry out its work; the Internal Audit program, processes and results of the audit work, process of investigation undertaken and whether or not appropriate action is taken on the recommendations of the Internal Audit function; any related party transaction and conflict of interest situation that may arise including any transaction, procedure or course of conduct concerning Management s integrity; and ii Management s compliance with laws, regulations, established policies, plans and procedures; ix the selection, remuneration and resignation or dismissal of the External Auditors. iii iv v evaluate factors relating to the independence of the External Auditors and providing a framework within which the External Auditors can assert their independence; together with the External Auditors assess and evaluate the scope of their audit plan, their evaluation of the system of internal control and the audit reports on the financial statements; the quarterly financial results and year end financial statements with Management prior to deliberation and approval by the Board, focusing particularly on: a b c changes in major accounting policies; significant and unusual events; compliance with accounting standards and other legal requirements. Authority In carrying out their duties and responsibilities, the Committee shall have the authority to investigate any matter within its terms of reference with full and unrestricted access to all the Company s records, properties and personnel. The Committee is entitled to obtain independent professional or other advice to enable it to discharge its duties. Meetings The Committee shall hold at least four meetings per year. Additional meeting may be held if it is requested to do so by any Committee member, the Management, Internal or External Auditors.The Committee may invite any person to be in attendance to assist in its deliberations. A quorum shall consist of a majority of Independent Directors and shall not be less than two. The Company Secretary shall act as secretary of the Committee.

157 AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT 31 OBJEKTIF Objektif utama Jawatankuasa ialah untuk melindungi kepentingan masyarakat pelaburan serta memastikan tadbir urus korporat yang lebih efektif. TERMA RUJUKAN Tugas-tugas Tugas Jawatankuasa meliputi mengkaji perkara-perkara berikut dan melaporkannya kepada Lembaga Pengarah: i keberkesanan sistem maklumat pengurusan dan sistem-sistem kawalan dalaman lain di dalam Syarikat dan Kumpulan; vi vii viii skop, fungsi dan sumber fungsi Audit Dalaman dan pihak berkuasa berkaitan untuk menjalankan tugasnya; program Audit Dalaman, proses dan keputusan tugas audit, proses penyiasatan yang dijalankan dan sama ada wajar atau tidak tindakan diambil ke atas syor fungsi Audit Dalaman; sebarang urusniaga pihak berkaitan dan pertelingkahan kepentingan yang mungkin timbul termasuk sebarang urusniaga, prosedur atau bentuk tindakan berkenaan kewibawaan Pengurusan; dan ii iii iv v pematuhan pengurusan terhadap undang-undang, peraturan, dasar-dasar, rancangan dan prosedur yang telah digariskan; menilai faktor-faktor yang berkaitan dengan kebebasan Juruaudit Luar dan menyediakan rangka kerja yang membolehkan Juruaudit Luar menegaskan pendirian mereka; bersama-sama dengan Juruaudit Luar menaksir dan menilai skop rancangan audit mereka, penilaian mereka mengenai sistem kawalan dalaman dan laporan audit mengenai penyata kewangan; keputusan kewangan suku tahunan dan penyata kewangan akhir tahun dengan Pengurusan sebelum perbincangan dan kelulusan Lembaga Pengarah, dengan memfokus khususnya kepada: a b c perubahan dalam dasar-dasar perakaunan penting; peristiwa penting dan luarbiasa; pematuhan terhadap piawaian perakaunan dan keperluan perundangan yang lain. ix pemilihan, ganjaran dan perletakan jawatan atau pemberhentian Juruaudit Luar. Kuasa Dalam melaksanakan tugas dan tanggungjawabnya, Jawatankuasa ini mempunyai kuasa untuk menyiasat sebarang perkara yang tertakluk di dalam bidang kuasanya dengan diberi kuasa penuh dan tanpa halangan untuk meneliti semua rekod, hartanah dan kakitangan Syarikat. Jawatankuasa ini berhak untuk mendapat nasihat profesional bebas atau nasihat lain untuk membolehkannya menjalankan tugasnya. Mesyuarat Jawatankuasa akan mengadakan sekurang-kurangnya empat mesyuarat setiap tahun. Mesyuarat tambahan boleh diadakan jika diminta oleh ahli Jawatankuasa, Pengurusan, Juruaudit Dalaman atau Luar. Jawatankuasa ini boleh mengundang sesiapa untuk hadir bagi membantu dalam perbincangannya. Kuorum akan mengandungi majoriti para Pengarah Bebas dan tidak boleh kurang daripada dua orang ahli. Setiausaha Syarikat akan bertindak sebagai setiausaha Jawatankuasa.

158 During the financial year ended 31 July 2001, the Committee met for a total of four times and the attendance of each member of the Audit Committee are as follows: Pada tahun kewangan berakhir 31 Julai 2001, Jawatankuasa telah bermesyuarat sebanyak empat kali dan butir-butir kehadiran setiap ahli Jawatankuasa Audit adalah seperti berikut: Audit Committee Member Designation No. of meetings held during the year No. of meeting attended Ahli Jawatankuasa Audit Jawatan Bil. mesyuarat diadakan pada tahun Bil. mesyuarat dihadiri Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Chairman Pengerusi 4 4 Ms Wong Chin Yen Member Ahli 4 4 Mr Ng Kee Leen Member Ahli AUDIT COMMITTEE REPORT LAPORAN JAWATANKUASA AUDIT Summary of Audit Committee s Activities Audit Committee s activities during financial year ended 31 July 2001 include the review of: Ringkasan Aktiviti Jawatankuasa Audit Aktiviti yang dijalankan oleh Jawatankuasa Audit pada tahun kewangan berakhir 31 Julai 2001 termasuk mengkaji: i the risk assessment and audit plan proposed by Internal Auditors and recommend the same to the Board for approval; i penilaian risiko dan rancangan audit yang disyorkan oleh Juruaudit Dalaman dan mencadangkannya kepada Lembaga Pengarah untuk kelulusan; ii iii iv v vi the audit plan and audit fees proposed by External Auditors and recommend to the Board the appointment and audit fee of External Auditors; the audit reports presented by Internal Auditors on findings and recommendations with respect to system and controls weaknesses and ensure implementation of corrective actions; the compliance to accounting standards issued by Malaysian Accounting Standards Board; the Group s quarterly financial results and recommend the same to the Board for approval and announcement to the Kuala Lumpur Stock Exchange and Securities Commission; the Group s year end audited accounts and audit report on the financial statement as presented by the External Auditors and recommend the same to the Board for approval. Internal Audit Function Internal Audit function has been established to assist the Committee in discharging its duties and responsibilities.the role of the Internal Audit function is to provide the Committee with independent and objective reports on the state of internal control and compliance to policies and procedures. The Internal Audit function is also involved in risk assessment, risk evaluation and recommendation of control activities to manage such identified risk. ii iii iv v vi rancangan audit dan yuran audit yang disyorkan oleh Juruaudit Luar dan mencadangkan kepada Lembaga Pengarah berhubung perlantikan dan yuran audit Juruaudit Luar; laporan audit yang dikemukakan oleh Juruaudit Dalaman mengenai penemuan dan cadangan berhubung dengan kelemahan sistem dan kawalan serta memastikan pelaksanaan tindakan pembetulan; pematuhan terhadap piawaian perakaunan yang dikeluarkan oleh Lembaga Piawaian Perakaunan Malaysia; keputusan kewangan suku tahunan Kumpulan dan mencadangkannya kepada Lembaga Pengarah untuk kelulusan dan pengumuman kepada Bursa Saham Kuala Lumpur dan Suruhanjaya Sekuriti; dan akaun akhir tahun Kumpulan dan laporan audit mengenai penyata kewangan seperti yang dikemukakan oleh juruaudit Luar dan mencadangkannya kepada Lembaga Pengarah untuk kelulusan. Fungsi Audit Dalaman Fungsi Audit Dalaman diwujudkan untuk membantu Jawatankuasa menjalankan tugas dan tanggungjawabnya. Peranan fungsi Audit Dalaman adalah untuk menyediakan laporan yang berkecuali dan objektif kepada Jawatankuasa mengenai hal-ehwal kawalan dalaman dan pematuhan terhadap pelbagai dasar dan prosedur. Fungsi Audit Dalaman juga terlibat dalam penaksiran dan penilaian risiko dan mengemukakan cadangan aktiviti-aktiviti kawalan untuk menguruskan risiko yang telah dikenalpasti.

159 Our Board of Directors welcomes the implementation of a Code of Corporate Governance Lembaga Pengarah kami mengalu-alukan pelaksanaan Kod Tadbir Urus Korporat yang dikeluarkan oleh Jawatankuasa Kewangan issued by the Finance Committee on Corporate Governance in March The Code defines mengenai Tadbir Urus Korporat pada bulan Mac Kod ini mentakrifkan prinsip-prinsip dan amalan terbaik mengenai the principles and best practices on structures and processes that companies can use in their struktur dan proses yang boleh digunakan oleh syarikat-syarikat dalam operasi masing-masing ke arah pencapaian rangka kerja operations towards achieving the optimal governance framework. tadbir urus korporat yang optimum. DIRECTORS STATEMENT ON CORPORATE GOVERNANCE PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT 33 The Board is duly committed in implementing high standards of corporate governance and recognises the need for companies to be more efficient and well-managed in a global economy. Indeed, the role of Directors in upholding the integrity of the Company, protecting and enhancing shareholder value is crucial. The Code, therefore, provides a fundamental framework and the yardstick for best practice benchmark. Board of Directors The Board has always had a balance of Executive and Non-Executive Directors. In the later part of the year, there was an increase in the number of Independent Non- Executive Directors in compliance with the KLSE Listing Requirements. Members of the Board have also been brought together to represent a blend of legal, financial, technical and business experiences that has been vital to the successful direction of the Group. The Board acknowledges that the principles of good governance indicate that there should be a clear division of responsibilities between the running of the Board and executive responsibility for the running of the Company s business. The roles of the Chairman and the Managing Director are clearly separated. Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi, a Non-Executive Director, is the Senior Independent Director on the Board to whom all concerns of shareholders may be conveyed. The Board meets ordinarily four times per financial year, with additional meetings being convened as necessary. For the financial year 2001, the Board met five times. The details of meetings are disclosed below. All of the Non- Executive Directors regularly attend meetings of the Board and its committees and participate fully in the deliberations of matters reserved for the Board. Lembaga Pengarah turut komited untuk melaksanakan taraf piawaian tadbir urus korporat yang tinggi serta mengakui keperluan bagi syarikatsyarikat supaya lebih cekap dan diurus dengan sempurna selaras dengan persekitaran ekonomi yang berciri global. Malah, peranan para Pengarah dalam menjaga kewibawaan Syarikat, melindungi serta mempertingkatkan nilai pemegang saham adalah amat penting. Justeru itu, Kod ini menyediakan satu rangka kerja fundamental serta garis ukuran yang mampu menyediakan ukur rujuk amalan terbaik. Lembaga Pengarah Lembaga Pengarah sentiasa mempunyai keseimbangan antara Pengarah Eksekutif dan Bukan Eksekutif. Pada lewat tahun ini, bilangan Pengarah Bukan Eksekutif Bebas telah bertambah sebagai mematuhi Keperluan Penyenaraian BSKL. Para Ahli Lembaga Pengarah juga telah dipilih supaya mewakili campuran latar belakang pengalaman yang merangkumi bidang perundangan, kewangan, teknikal dan perniagaan yang begitu penting dalam memastikan kejayaan hala tuju Kumpulan. Lembaga Pengarah mengakui bahawa prinsip-prinsip tadbir urus korporat yang baik menandakan perlunya pembahagian tanggungjawab yang nyata antara pegendalian Lembaga Pengarah dan tanggungjawab eksekutif dalam mengendalikan perniagaan Syarikat. Peranan Pengerusi dan Pengarah Urusan telah diasingkan dengan nyata. Y Bhg Tan Sri Dato Mohd Ramli bin Kushairi, seorang Pengarah Bukan Eksekutif, adalah seorang Pengarah Bebas Kanan dalam Lembaga Pengarah yang dipertanggungjawabkan untuk menangani semua isu pemegang saham. Lembaga Pengarah biasanya mengadakan mesyuarat empat kali setiap tahun kewangan dan mesyuarat tambahan diadakan jika perlu. Bagi tahun kewangan 2001, Lembaga Pengarah telah bermesyuarat sebanyak lima kali. Butir-butir mengenai mesyuarat tersebut dibentangkan seperti di bawah ini. Lazimnya, semua Pengarah Bukan Eksekutif akan menghadiri mesyuarat Lembaga Pengarah dan mesyuarat jawatankuasanya dan mengambil bahagian sepenuhnya dalam perbincangan mengenai perkara-perkara yang khusus untuk ditangani oleh Lembaga Pengarah.

160 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE 34 PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT The Chairman undertakes primary responsibility for organising information necessary for the Board to deal with the agenda and for providing this information to Directors on a timely basis. Timetables are set well in advance to ensure that adequate information can be circulated in a satisfactory form and timely manner. Due notice is given for all scheduled meetings. Pengerusi memikul tanggungjawab utama menyusun maklumat yang perlu diuruskan oleh Lembaga Pengarah berhubung agenda dan mengedarkan maklumat ini kepada para Pengarah pada masa-masa yang tepat. Jadual diatur terlebih dahulu bagi memastikan supaya maklumat yang secukupnya diedarkan dalam cara yang memuaskan dan menepati masa. Notis berkaitan diberi terlebih dahulu bagi semua mesyuarat yang dijadualkan. Attendance at Board Meetings Kehadiran di Mesyuarat Lembaga Pengarah No. of meetings attended Bil. mesyuarat dihadiri Non-Executive Bukan Eksekutif Tan Sri Dato Ir Talha bin Haji Mohd Hashim 4 Raja Dato Seri Eleena Azlan Shah 4 Wong Chin Yen 5 Tan Sri Dato Mohd Ramli bin Kushairi *** - Raja Dato Seri Abdul Aziz bin Raja Salim *** - Datuk Ab Rahman bin Omar *** - Executive Eksekutif Dato Lin Yun Ling 5 Dato Ir Kamarul Zaman bin Mohd Ali 5 Ng Kee Leen 5 Goon Heng Wah 4 Ha Tiing Tai 5 Saw Wah Theng 5 Azmi Mat Nor ** 3 Chow Chee Wah ** 3 Heng Teng Kuang * 1 Chan Kuan Chan Yong Foo * 2 Total no. of meetings Jumlah mesyuarat 5 *** Appointed on Dilantik pada ** Attended as Alternate Director (appointed on ) Menghadiri sebagai Pengarah Pengganti (dilantik pada ) * Resigned on Meletak jawatan pada

161 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT 35 The Board has reserved for itself powers in respect of areas significant to the Group s business including the approval of the corporate plans and annual budgets; announcement on the quarterly results; acquisitions and disposals of segments of the business; major investments and financial decisions; appointments to the Board and changes to the management and control structure within the Group; and other matters raised in relation to the related business of the Group. Due attention is also given to ensure that significant business risks are identified and appropriately managed and adequate internal controls and management information systems, including systems for compliance with applicable laws, regulations, rules, directives and guidelines are in place. Performance factors such as customer satisfaction, product and service quality, market reaction, environmental issues were also discussed. To facilitate the smooth transaction of business within the Company, the Board has established a number of standing committees. The terms of reference of each committee have been approved by the Board and, where applicable, comply with the recommendations of the Code. The Board has three standing committees, the Audit Committee, the Remuneration Committee and Nomination Committee. The Remuneration and Nomination Committees were both established this year. All Directors, except for the Managing Director, are required to submit themselves for re-election by the shareholders at the annual general meetings, at least once every three years. The Articles of Association of the Company will be amended at the forthcoming Extraordinary General Meeting to provide for all Directors to submit themselves for re-election at the annual general meetings at least once every three years. Lembaga Pengarah mengkhususkan kuasa untuk Lembaga sahaja, beberapa bidang yang penting kepada perniagaan Kumpulan termasuk kelulusan rancangan korporat dan belanjawan tahunan, pengumuman keputusan suku tahunan, pengambilalihan dan pelupusan segmen perniagaan, keputusan pelaburan dan kewangan utama; pelantikan ke Lembaga Pengarah dan perubahan pengurusan serta struktur kawalan di dalam Kumpulan; dan perkara-perkara lain yang berbangkit mengenai perniagaan berkaitan Kumpulan. Perhatian yang sewajarnya juga diberi untuk memastikan risiko perniagaan yang ketara dikenalpasti dan ditangani dengan sewajarnya dan sistem kawalan dalaman dan sistem maklumat pengurusan, termasuk sistem pematuhan kepada undang-undang yang diterima pakai, peraturan, arahan dan garis panduan adalah mencukupi dan sedia ada. Faktor prestasi seperti kepuasan pelanggan, kualiti produk dan perkhidmatan, tindak balas pasaran, isu-isu alam sekitar juga dibincangkan. Bagi urusan perniagaan di dalam Syarikat dijalankan dengan lancar, Lembaga Pengarah telah menubuhkan beberapa jawatankuasa tetap. Bidang tugas setiap jawatankuasa telah diluluskan oleh Lemabaga Pengarah dan, di mana sesuai, mematuhi cadangan yang disarankan oleh Kod. Lembaga Pengarah mempunyai tiga jawatankuasa tetap iaitu Jawatankuasa Audit, Jawatankuasa Imbuhan dan Jawatankuasa Pencalonan. Jawatankuasa Imbuhan dan Pencalonan telah ditubuhkan pada tahun ini. Semua Pengarah, kecuali Pengarah Urusan dikehendaki menawarkan diri untuk pemilihan semula oleh para pemegang saham di mesyuarat agung tahunan, sekurang-kurangnya tiga tahun sekali. Tataurusan Pertubuhan Syarikat akan dipinda di Mesyuarat Agung Luarbiasa yang akan datang untuk membolehkan semua Pengarah menawarkan diri mereka untuk dipilih semula di mesyuarat agung tahunan sekurang-kurangnya sekali dalam masa tiga tahun.

162 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE 36 PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT All the Directors have direct access to the advice and services of the Company Secretary and the Group Internal Audit Manager. Procedures are in place to facilitate the Directors, whether as a Board or in their individual capacity, to obtain independent professional advice in furtherance of their duties, where required, at the Company s expense. All members of the Board have completed the Mandatory Accreditation Programme, a training prescribed by the KLSE. Additionally, relevant external and internal trainings and courses are continuously been identified by the Company's in-house Learning Centre for the Directors to attend to equip themselves to effectively discharge their duties as a Director. A Statement by the Directors of their responsibilities for preparing the financial statements is included in page 60 of the Annual Report. Audit Committee The Committee has revised its terms of reference, which is now consistent with the latest KLSE Listing Requirements. The terms of reference, which outline the Committee's functions and duties, and a summary of the Committee s activities are furnished in the Audit Committee report. The Chairman of the Committee is an Independent, Non- Executive Director appointed by the Board. The Group Internal Audit Department (GIA) of the Company also performs internal audit functions of the Company s subsidiaries. The GIA provides the support and assistance to the Committee in discharging their responsibilities. The Committee has absolute authority to direct the GIA to conduct investigation on any matters within its terms of reference. Semua Pengarah mempunyai akses langsung kepada nasihat dan khidmat Setiausaha Syarikat dan Pengurus Audit Dalaman Kumpulan. Berbagai prosedur telah dilaksanakan untuk membolehkan para Pengarah, sama ada dalam kapasiti mereka sebagai ahli Lembaga atau individu, mendapatkan nasihat profesional bebas untuk menjalankan tugas mereka, mengikut keperluan, di mana kosnya ditanggung oleh Syarikat. Semua ahli Lembaga Pengarah telah menyelesaikan Program Akreditasi Mandatori, satu latihan yang ditetapkan oleh BSKL. Di samping itu, pelbagai latihan dan khusus luaran dan dalaman berkaitan sentiasa dikenalpasti oleh Pusat Pembelajaran dalaman Syarikat untuk dihadiri oleh para Pengarah bagi mempersiapkan diri mereka dalam menjalankan tugas sebagai pengarah dengan berkesan. Penyata oleh Pengarah-Pengarah berhubung tanggungjawab mereka dalam menyediakan penyata kewangan dibentangkan di muka surat 60 dalam Laporan Tahunan. Jawatankuasa Audit Jawatankuasa ini telah menyemak semula terma rujukannya yang kini selaras dengan Keperluan Penyenaraian BSKL. Bidang-bidang tugas tersebut yang menggariskan fungsi dan tugas Jawatankuasa ini serta mengandungi satu ringkasan aktiviti Jawatankuasa disediakan di dalam Laporan Jawatankuasa Audit. Pengerusi Jawatankuasa ini adalah pengarah bebas, bukan eksekutif yang dilantik oleh Lembaga Pengarah. Jabatan Audit Dalaman Kumpulan (GIA) Syarikat turut menjalankan fungsi audit dalaman syarikat-syarikat subsidiari. GIA memberi sokongan dan bantuan kepada Jawatankuasa ini dalam melaksanakan tanggungjawab mereka. Jawatankuasa ini mempunyai kuasa mutlak untuk mengarahkan GIA menjalankan penyiasatan berhubung sebarang perkara di bawah bidang tugasnya.

163 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT 37 The Committee met four times during the financial year. The attendance of each Committee member is furnished in the Audit Committee report. Senior members of the Company s external auditors, the Head of GIA and the Finance Director normally attend the meetings. The Committee meets annually with the external auditors without the presence of Executive Directors and management. It has full access to the auditors both internally and externally who, in turn, have access at all times to the Chairman of the Committee. Remuneration Committee The members of the Committee are detailed in page 66 of the Annual Report. The Committee has written terms of reference and will assess all elements of the remuneration and other terms of employment of Executive Directors. The Committee recommends to the full Board the remuneration, fee and other remuneration package payable to Executive and Non-Executive Directors, drawing from outside advice where necessary. The remuneration for all Directors are determined so as to ensure that the Company attracts and retains the Directors needed to run the Group successfully. Executive Directors play no part in the deliberations and decisions on their own remuneration. The determination of remuneration packages of Non-Executive Directors, including Non-Executive Chairman is a matter for the Board as a whole with the individuals concerned abstaining from discussions and voting on decisions in respect of their own remuneration. Jawatankuasa ini telah bermesyuarat empat kali pada tahun kewangan ini. Kehadiran setiap ahli Jawatankuasa ditunjukkan di dalam Laporan Jawatankuasa Audit. Ahli-ahli kanan juruaudit luar Syarikat, Ketua GIA dan Pengarah Kewangan biasanya menghadiri mesyuarat-mesyuarat tersebut. Jawatankuasa ini bermesyuarat setiap tahun dengan juruaudit luar tanpa kehadiran para Pengarah Eksekutif dan pihak pengurusan. Ia mempunyai akses penuh kepada juruaudit dalaman dan luar yang sebaliknya mempunyai akses setiap masa kepada Pengerusi Jawatankuasa ini. Jawatankuasa Imbuhan Ahli-ahli Jawatankuasa ini dinyatakan secara terperinci di muka surat 126 dalam Laporan Tahunan. Jawatankuasa ini mempunyai terma rujukan yang tertulis dan akan menilai semula unsur imbuhan dan terma-terma pekerjaan lain bagi para Pengarah Eksekutif. Jawatankuasa mencadangkan kepada Lembaga Pengarah penuh, imbuhan, yuran dan pakej imbuhan lain yang akan dibayar kepada para Pengarah Eksekutif dan Bukan Eksekutif, berasaskan nasihat luar mengikut kesesuaian. Imbuhan bagi semua Pengarah ditentu bagi memastikan supaya Syarikat mampu menarik dan mengekalkan para Pengarah yang diperlu untuk mengurus Kumpulan dengan berkesan. Para Pengarah Eksekutif tidak terlibat dalam perbincangan dan membuat keputusan berkaitan dengan imbuhan mereka sendiri. Pakej imbuhan para Pengarah Bukan Eksekutif termasuk Pengerusi Bukan Eksekutif adalah perkara yang diputuskan oleh seluruh ahli Lembaga Pengarah dengan individu berkaitan mengecualikan diri daripada perbincangan dan pengundian bagi menentukan imbuhan mereka sendiri.

164 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE 38 PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT Where appropriate, other customary benefits were accorded to Directors. For instance, the Executive Directors were granted share options under the Employees Share Option Scheme (ESOS). Details of Directors' remuneration and benefits during the year are as provided in page 104 of the Annual Report. Nomination Committee The Committee has established its terms of reference. It is responsible for making recommendations to the Board on all new Board and Board Committee appointments and provides a formal and transparent procedure for such appointments. The Committee will review the required mix of skills and experience of the Directors of the Board, in determining the appropriate Board balance and size of non-executive participation. Internal Control The Board acknowledges its responsibility for the Group s system of internal control and for reviewing its effectiveness in providing shareholders with a return on their investments that is consistent with a responsible assessment and management of risks. The Group's internal control system covers not only financial controls but also operational and compliance controls as well as risk management. The internal control system involves each business and key management from each business, including the Board, and is designed to meet the Group s particular needs and to manage the risks to which it is exposed. Manfaat-manfaat lazim yang lain diberi kepada para Pengarah mengikut kesesuaian. Contohnya, para Pengarah Eksekutif diberi opsyen saham di bawah Skim Opsyen Saham Kakitangan (ESOS). Butir-butir lanjut mengenai imbuhan dan manfaat para Pengarah pada tahun ini ditunjukkan di mukasurat 164 dalam Laporan Tahunan. Jawatankuasa Pencalonan Jawatankuasa Pencalonan telah membentuk terma rujukannya. Ia bertanggungjawab untuk mengemukakan saranan kepada Lembaga Pengarah mengenai semua perlantikan Lembaga Pengarah dan Jawatankuasa Lembaga Pengarah yang baru serta menyediakan satu prosedur yang formal dan telus bagi perlantikan tersebut. Jawatankuasa ini akan mengkaji campuran kemahiran dan pengalaman Lembaga Pengarah yang diperlukan bagi menentukan keseimbangan Lembaga Pengarah serta saiz penyertaan pengarah bukan eksekutif yang sewajarnya. Kawalan Dalaman Lembaga Pengarah mengakui tentang tanggungjawabnya terhadap sistem kawalan dalaman Kumpulan dan keperluan untuk mengkaji keberkesanannya dalam menyediakan pulangan daripada pelaburan para pemegang saham, selaras dengan tanggungjawabnya untuk menilai dan mengurus risiko. Sistem kawalan dalaman Kumpulan tidak merangkumi kawalan kewangan sahaja, malah ia turut meliputi kawalan operasi dan pematuhan serta pengurusan risiko. Sistem kawalan dalaman melibatkan setiap perniagaan dan pengurusan utama setiap perniagaan termasuk Lembaga Pengarah dan bertujuan untuk memenuhi keperluan khusus Kumpulan serta mengurus risiko.

165 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT 39 Because of the limitations that are inherent in any system of internal control such systems are designed to mitigate loss rather than eliminate the likelihood of fraud or error. Accordingly, these systems can provide only reasonable and not absolute assurance against material misstatement or loss. The concept of reasonable assurance also recognises that the cost of control procedures should not exceed the expected benefits. The Board has continued its ongoing process of identifying, evaluating and managing the key commercial and financial risks facing the business together with more general risks, such as those relating to compliance with laws and regulations.the Group has in place a Risk Management Policy which will enhance current risk management practices of the Group, protect the business and evaluate business strategies based on risk involved; provide a systematic linkage between risk management and performance management; and provide key inputs for strategic valuemaximising decision making and performance management. Group Policies are also in place for key issues including the management of Health and Safety, Environmental, Engineering and Information Technology risks. There is furthermore a Limits of Authority policy that clearly delineates authorisation limits to ensure proper identification of accountabilities and segregation of duties. Corporate values, which emphasise team working and ethical behaviour, have been fully communicated to staff. Shareholders' Communications and Investor Relations Policy The Board believes in clear and regular communications with its shareholders and institutional investors. In addition to the various announcements made during the year, the Annual Report and release of financial results on quarterly basis provide shareholders with an overview of the Group s business activities and performance. Oleh kerana sebarang sistem kawalan dalaman mempunyai had keberkesanan tertentu, sistem ini disediakan lebih bertujuan untuk mengurangkan kerugian berbanding dengan menghapuskan kemungkinan penipuan atau kesilapan. Sehubungan itu, sistem ini hanya mampu memberikan jaminan berpatutan dan bukannya jaminan muktamad daripada salah penyataan atau kerugian ketara. Konsep jaminan berpatutan juga mengakui bahawa kos prosedur kawalan tidak harus melebihi manfaat yang dijangkakan. Lembaga Pengarah telah meneruskan proses mengenalpasti, menilai dan mengurus risiko perdagangan dan kewangan utama yang dihadapi oleh perniagaan berserta berbagai risiko umum lain, seperti risiko berkaitan dengan pematuhan kepada undang-undang dan peraturan. Kumpulan mempunyai Dasar Pengurusan Risiko yang akan mempertingkatkan amalan pengurusan risiko semasa Kumpulan, melindungi perniagaan dan menilai perniagaan secara strategik berasaskan kepada risiko yang terlibat; menyediakan satu sistem penghubung sistematik antara pengurusan risiko dan pengurusan prestasi serta menyediakan input penting dalam pembuatan keputusan strategik yang memaksimumkan nilai serta pengurusan prestasi. Dasar-dasar Kumpulan juga sedia ada untuk menangani risiko berkaitan isuisu utama termasuk pengurusan Kesihatan dan Keselamatan, Alam Sekitar, Kejuruteraan dan Teknologi Maklumat. Di samping itu, terdapat dasar Kuasa Terhad yang membahagikan secara nyata penghadan kuasa bagi memastikan pengenalpastian akauntabiliti dan pengasingan tugas dibuat sewajarnya. Nilai korporat yang memberi penekanan terhadap semangat berpasukan dan kelakuan etika telah disampaikan sepenuhnya kepada kakitangan. Dasar Komunikasi Pemegang Saham dan Perhubungan Pelabur Lembaga Pengarah percaya terhadap komunikasi yang nyata dan kerap dengan para pemegang sahamnya dan para pelabur institusi. Di samping berbagai pengumuman yang disiarkan pada tahun ini, Laporan Tahunan dan penyampaian maklumat keputusan kewangan setiap tiga bulan sekali menyediakan kepada para pemegang saham satu tinjauan menyeluruh mengenai aktiviti dan prestasi perniagaan Kumpulan.

166 DIRECTORS STATEMENT ON CORPORATE GOVERNANCE 40 PENYATA PARA PENGARAH MENGENAI TADBIR URUS KORPORAT Enquiries by shareholders are dealt with as promptly as practicable. The Company has also for some years now used the Annual General Meeting (AGM) as a means of communicating with its shareholders. The AGM is held in January each year. The Board encourages participation from shareholders by having questions and answers session during the AGM where the Directors are available to discuss aspects of the Group's business activities and performance. Shareholders can also obtain up-to-date information on the Group s various activities by accessing its website at In addition, the Company maintains regular dialogues with institutional investors, fund managers and analysts with the aim of fostering the mutual understanding of objectives Pertanyaan yang dikemukakan oleh para pemegang saham ditangani dengan pantas dan secara praktikal. Sejak beberapa tahun lalu, Syarikat telah menggunakan Mesyuarat Agung Tahunan (AGM) sebagai kaedah untuk berkomunikasi dengan para pemegang sahamnya. AGM diadakan pada bulan Januari setiap tahun. Lembaga Pengarah menggalakkan penyertaan para pemegang saham dengan mengadakan sesi soal jawab di AGM di mana para Pengarah bersedia untuk membincangkan berbagai aspek berkaitan aktiviti dan prestasi perniagaan Kumpulan. Para pemegang saham juga boleh mendapatkan maklumat terkini mengenai berbagai aktiviti Kumpulan dengan melayari laman webnya di Di samping itu, Syarikat mengadakan dialog dengan para pelabur institusi, pengurus dana dan penganalisis dengan tujuan untuk memupuk semangat saling memahami antara satu sama lain mengenai objektifnya.

167 fastforwarding into the future melangkah pantas ke hadapan

168 WE KAMI MENERAJUI LEAD 42 CHAIRMAN S STATEMENT PENYATA PENGERUSI On behalf of the Board of Directors, I am pleased to present the Eleventh Annual Report and Audited Accounts of Gamuda Berhad for the financial year ended 31 July BUSINESS ENVIRONMENT An open, trade-oriented economy like Malaysia s will continue to be influenced by the ebb and flow of the global economy. But we believe Malaysia s economic fundamentals to be strong and the country will continue to be on track for sustainable long-term growth. It was the same conditions that allowed Malaysia to recover earlier than our neighbours from the major economic contraction of For the year just ended, Gamuda chalked up a net profit of RM191.7 million and an earnings per share of 29 sen compared to a net profit of RM146.8 million or 23 sen per share in the same period for the previous year. Saya bagi pihak Lembaga Pengarah dengan sukacitanya membentangkan Laporan Tahunan Kesebelas dan Akaun Gamuda Berhad yang telah Diaudit bagi tahun kewangan berakhir 31 Julai PERSEKITARAN PERNIAGAAN Sebuah ekonomi terbuka berorientasikan perdagangan seperti ekonomi Malaysia sudah tentu akan dipengaruhi oleh pasang surut dan aliran ekonomi global. Walau bagaimanapun, kami percaya bahawa fundamental ekonomi Malaysia adalah teguh dan negara kita akan terus berada di landasan yang tepat bagi mencapai pertumbuhan jangka panjang yang mampan. Keadaan seperti inilah juga yang telah membolehkan Malaysia mencapai pemulihan daripada penguncupan ekonomi yang ketara pada tahun 1998 lebih awal berbanding jiran-jirannya yang lain. Bagi tahun yang baru sahaja berakhir, Gamuda mencatatkan keuntungan bersih sebanyak RM191.7 juta dan pendapatan sesaham sebanyak 29 sen berbanding keuntungan bersih sebanyak RM146.8 juta atau 23 sen sesaham sepanjang tempoh yang sama pada tahun sebelumnya. Prestasi Kumpulan yang bertambah baik ini bukan sahaja disebabkan oleh keputusan Kumpulan daripada aktiviti perniagaannya yang telah bertambah baik, malah turut disebabkan oleh persekitaran perniagaan keseluruhan yang menggalakkan. Dasar fiskal dan kewangan Kerajaan yang mendorong pertumbuhan pada tahun 2001 telah meresapi ke seluruh ekonomi untuk menjana pertumbuhan yang lebih teguh dalam sektor pembinaan dan perkhidmatan. Walaupun menghadapi persaingan hebat dalam industri pembinaan, Gamuda mampu mempertingkatkan pendapatannya dalam sektor pembinaan melalui buku pesanan yang bernilai RM1.8 bilion. Syarikat terlindung daripada kesan volatiliti di pasaran kerana memiliki nilai buku pesanan yang tinggi dan menikmati pendapatan berulang daripada konsesi air dan tol. Y Bhg Tan Sri Dato Ir Talha bin Haji Mohd Hashim Chairman Pengerusi

169 CHAIRMAN S STATEMENT PENYATA PENGERUSI 43 Pengalaman luas kami dalam bidang kejuruteraan awam dan perniagaan pembinaan yang digabung dengan falsafah berhemat, pasukan pengurusan yang unggul dan keteguhan kunci kira-kira telah bersama-sama membolehkan Kumpulan mencipta nama sebagai sebuah Kumpulan yang berwibawa, inovatif dan efektif dari segi kos. The improved performance of the Group is due not only to the Group s better results from its activities, but the overall encouraging business environment. In 2001 the Government s expansionary fiscal and monetary policies filtered through the economy in terms of stronger growth in the construction and service sectors. Despite tough competition in the construction industry, Gamuda has managed to boost its construction earnings through its order book of RM1.8 billion. The Company is shielded from the volatility in the market because of this large order book and the recurring income from water and toll road concessions. Our years of experience in the civil engineering and construction business, combined with a philosophy of prudence, a sound management team, and a strong balance sheet, have together enabled the Group to achieve its reputation for reliability, innovation and cost effectiveness. FINANCIAL PERFORMANCE For the financial year ending July, Gamuda s turnover for the period increased by 30 percent, with pre-tax and net profit increasing by 34 percent and 31 percent respectively. In addition to the income from construction, our results were further bolstered by increased contributions from our toll road and water concessions earnings which provide a steady income base for the Group.The improved overall performance was also helped by timely progress of fast-tracking construction works on the SSP3 water project and the completion of Packages A and B of the SPRINT Highway. Construction continues as the biggest contributor to the Group s profit before tax (PBT), with about RM125.6 million or 46 percent of total PBT. Income from infrastructure concessions contributed RM106.4 million or 39 percent of pretax profit while property increased its contribution to 9.7 percent of pre-tax profit at RM27 million, compared with RM17 million last year.the balance of 5 percent PBT was contributed by manufacturing and others. PRESTASI KEWANGAN Bagi tahun kewangan berakhir Julai, Gamuda berjaya mencatat pertambahan perolehan sebanyak 30 peratus, dengan keuntungan sebelum cukai meningkat sebanyak 34 peratus dan keuntungan bersih sebanyak 31 peratus. Selain daripada pendapatan yang diperolehi daripada pembinaan, keputusan kami diperkukuhkan lagi oleh sumbangan yang semakin meningkat daripada pendapatan konsesi tol dan air yang menyediakan asas pendapatan mantap kepada Kumpulan. Prestasi keseluruhan yang bertambah baik ini telah dipertingkatkan lagi oleh kerja-kerja pembinaan yang dijalankan secara fast-track bagi projek air SSP3 dan penyiapan Pakej A dan B Lebuhraya SPRINT. Pembinaan terus menjadi penyumbang terbesar kepada keuntungan sebelum cukai (PBT) Kumpulan dengan kira-kira RM125.6 juta atau 46 peratus daripada jumlah PBT. Pendapatan daripada konsesi infrastruktur menyumbang RM106.4 juta atau 39 peratus kepada keuntungan sebelum cukai, sementara hartanah pula mempertingkatkan sumbangannya kepada 9.7 peratus atau RM27 juta kepada keuntungan sebelum cukai berbanding RM17 juta pada tahun lepas. Sementara baki 5 peratus PBT adalah hasil sumbangan bahagian perkilangan dan lain-lain.

170 WE KAMI MEMUDAHCARA FACILITATE 44 REVIEW OF OPERATIONS TINJAUAN OPERASI Significantly, the Group has succeeded to achieve growth despite the 1997 financial crisis and the ensuing slowdown. Our strategy of innovation and making an entry into water-related activities has ensured that our momentum of growth will not be affected. All major divisions showed strong growth. Overall, associate earnings from toll roads, water treatment and property grew by 66 percent. The major business activities during the year were: Construction Infrastructure Concessions Property Development Manufacturing and Others CONSTRUCTION This sector, contributing 46 percent of total pre-tax profit, continues to be the major profit driver for the Group with main earnings from the construction of Packages A and B of the SPRINT Highway. Both Packages; the Damansara Link and the Kerinchi Link, were recently completed six months ahead of schedule. Works have now begun on the RM420 million Package C (the Penchala Link), and this spine road will give a fillip to urban development in the Penchala, Bukit Lanjan and Sungai Buloh area. It includes a 700-metre twin tunnel and will be completed in 36 months. Walaupun menempuh detik sukar akibat krisis kewangan pada tahun 1997 dan kesan kemelesetan selepasnya, namun Kumpulan berjaya mencapai pertumbuhan ketara. Strategi kami yang berteraskan inovasi dan langkah memasuki ke dalam aktiviti berkaitan air telah memastikan momentum pertumbuhan kami tidak terjejas. Semua bahagian menampilkan pertumbuhan yang memberangsangkan. Secara keseluruhan, pendapatan syarikat-syarikat bersekutu daripada jalan bertol, loji rawatan air dan hartanah menikmati pertumbuhan sebanyak 66 peratus. Construction of the RM2.1billion Sungai Selangor Water Supply Scheme Phase 3 (SSP3), the last major water resource in the state of Selangor, commenced in early 2000 and is ahead of schedule. As at August 2001, the Rasa water treatment plant has been completed and will be fully operational by end of Lidwina Anak Gaong Site Engineer Jurutera Tapak

171 REVIEW OF OPERATIONS TINJAUAN OPERASI 45 Aktiviti perniagaan utama pada tahun ini meliputi: Pembinaan Konsesi Infrastruktur Pembangunan Hartanah Perkilangan dan Lain-lain PEMBINAAN Sektor ini yang menyumbang sebanyak 46 peratus kepada jumlah keuntungan sebelum cukai terus menjadi pendorong keuntungan utama kepada Kumpulan dengan pendapatan utamanya adalah daripada pembinaan Lebuhraya SPRINT Pakej A dan B. Kedua-dua Pakej; Hubungan Damansara dan Hubungan Kerinci telah disiapkan baru-baru ini iaitu enam bulan lebih awal daripada yang dijadualkan. Kini kerja telah dimulakan ke atas Pakej C bernilai RM420 juta (Hubungan Penchala) dan jalan tulang belakang ini akan mendorong pembangunan kawasan bandar di Penchala, Bukit Lanjan dan Sungai Buloh. Projek ini meliputi sebuah terowong berkembar sepanjang 700 meter dan akan disiapkan dalam tempoh 36 bulan. Pembinaan bagi Skim Bekalan Air Sungai Selangor Fasa 3 (SSP3) bernilai RM2.1 bilion, sumber air utama di negeri Selangor, telah dimulakan pada awal tahun 2000 dan mendahului jadual. Menjelang bulan Ogos 2001, loji rawatan air Sungai Rasa telah disiapkan dan akan beroperasi sepenuhnya menjelang akhir tahun Lebuhraya SPRINT Lebuhraya SPRINT, lebuhraya bertol ketiga dalam Kumpulan, adalah sebuah sistem rangkaian jalanraya bandar bertol terbuka sejauh 26 km di sebelah barat Kuala Lumpur. Kini, ia mempunyai 11 persimpangan bersilang yang membolehkan pemandu menikmati pemanduan yang lebih mudah, pantas dan selamat melalui Hubungan Damansara dan Hubungan Kerinchi. Hubungan Kerinchi menampilkan struktur dua tingkat yang menyediakan hubungan paling pendek antara Lebuhraya Persekutuan ke Jalan Damansara dan NKVE di Jalan Duta. SPRINT Highway The SPRINT Highway, the third toll highway within the Group, is an open toll 26km urban road network system in the west of Kuala Lumpur. Currently it has 11 interchanges allowing for convenient, faster and safer travel for motorists on both the Damansara and Kerinchi Links. The Kerinchi Link features a double-deck structure providing the shortest connection between the Federal Highway to Jalan Damansara and the NKVE in Jalan Duta. The Damansara Link connects Petaling Jaya to Jalan Semantan. Construction on these two links began in 1999 and they were completed in June this year.the third link of the SPRINT Highway, the Penchala Link will feature a 700m twin tunnel and provides a direct link for Sungai Buloh-Damansara corridor to Mont Kiara/Duta. It will be completed in Hubungan Damansara ini menghubungkan Petaling Jaya ke Jalan Semantan. Pembinaan kedua-dua hubungan ini bermula pada tahun 1999 dan siap pada bulan Jun tahun ini. Hubungan ketiga Lebuhraya SPRINT iaitu Hubungan Penchala akan mempunyai sebuah terowong berkembar sepanjang 700 meter dan menyediakan hubungan terus antara koridor Sungai Buloh-Damansara ke Mont Kiara/Duta. Ia akan disiapkan pada tahun 2003.

172 WE CREATE 46 REVIEW OF OPERATIONS TINJAUAN OPERASI KAMI MENCIPTA Sungai Selangor Water Supply Scheme Phase 3 (SSP3) Construction of the SSP3, consisting of a regulating dam and reservoir in Kuala Kubu Baru, water intake and treatment plants in Rasa and Bukit Badong, and the realignment of the KKB-Bukit Fraser road, began in Carried out in stages, the RM2.1 billion project will be completed in The progress achieved to date is about a third of the development. The realignment of a section of KKB-Bukit Fraser road has been completed and was opened to traffic in September The diversion tunnel, which is part of the Sungai Selangor Dam has also been completed. As at September 2001, the progress achieved for the Sungai Selangor dam was 33 percent, while 34 percent of Bukit Badong which comprises of a river-intake and treatment plant has been completed. India Highway We have secured a road up-grading project in India that will generate an estimated RM300 million worth of construction work for the Company. The 63km national highway project between Panagarh and Palsit in the eastern India state of West Bengal will be built under a 15-year concession awarded by the Indian Government. Skim Bekalan Air Sungai Selangor Fasa 3 (SSP3) Pembinaan SSP3 yang meliputi sebuah empangan kawalan dan tempat simpanan air di Kuala Kubu Baru, loji pengambilan dan rawatan air di Rasa dan Bukit Badong serta penjajaran semula Jalan KKB-Bukit Fraser telah dimulakan pada tahun Projek bernilai RM2.1 bilion yang dijalankan secara berperingkat ini akan disiapkan pada tahun Sehingga kini, ia telah mencapai kira-kira satu pertiga peringkat penyiapan. Penjajaran semula satu bahagian di Jalan KKB-Bukit Fraser telahpun disiapkan dan dibuka kepada lalu lintas pada bulan September, 2001.Terowong lencongan yang merupakan sebahagian daripada Empangan Sungai Selangor telahpun disiapkan. Pada bulan September 2001, pembinaan Empangan Sungai Selangor telah mencapai peringkat 33 peratus siap, sementara pembangunan loji pengambilan dan rawatan air sungai di Bukit Badong telah mencapai tahap 34 peratus siap. Lebuhraya India Kami telah memperolehi projek peningkatan taraf jalan di India yang akan menjana kerja pembinaan bernilai kira-kira RM300 juta kepada Syarikat. Projek lebuhraya kebangsaan sejauh 63 km antara Panagarh dan Palsit di negeri Bengal Barat di timur India ini dibina di bawah sebuah konsesi selama 15 tahun yang diberikan oleh Kerajaan India. Our highways save time Lebuhraya kami menjimatkan masa

173 REVIEW OF OPERATIONS TINJAUAN OPERASI 47 KONSESI INFRASTRUKTUR Sektor ini dijangka akan menyediakan sumbangan yang lebih besar kepada hasil Kumpulan. Pada tahun yang baru sahaja berakhir, konsesi tol dan rawatan air memberi sumbangan yang lebih tinggi kepada pendapatan. Tol menyumbang 23 peratus kepada keuntungan sebelum cukai sementara rawatan air pula menyumbang sebanyak 15 peratus. Kedua-dua sumber hasil ini akan tetap menyediakan asas pendapatan yang stabil dan berulang kepada Kumpulan. Lebuhraya SPRINT merupakan sumber hasil tol yang terbaru bagi Kumpulan. Secara keseluruhan, hasil tol daripada operasi lebuhraya mendapat manfaat daripada pertambahan volum trafik dan hakikatnya, lebuhraya Kumpulan merupakan hubungan bandar yang penting di koridor barat Kuala Lumpur dan Petaling Jaya. INFRASTRUCTURE CONCESSIONS It is envisaged that this sector will increasingly contribute higher earnings to the Group s revenue. In the year just ended, there is higher contribution to earnings from the tolling and water treatment concessions. Tolling contributed 23 percent of pre-tax profit while water treatment contributed 15 percent. These two revenue sources will provide the Group with a steady and recurring income base. SPRINT Highway is the most recent source of toll revenue for the Group. Overall, toll revenue from expressway operations has benefited from the increase in traffic volume, and from the fact that its highways are vital urban linkages in the western corridors of Kuala Lumpur and Petaling Jaya. LITRAK, KESAS and SPRINT are associated companies of Gamuda. LITRAK, the concessionaire for the LDP, is 41 percent owned by Gamuda and was the first highway operator in Malaysia to be listed on the KLSE. Lebuhraya Damansara-Puchong (LDP) Operated by Lingkaran Trans Kota Holdings Berhad (LITRAK), LDP traffic volume has reached 280,000 vehicles per day. Daily, more vehicles ply its highway as a result of the mushrooming growth of commercial and residential properties along and adjacent to the LDP.This in turn is expected to lead to greater traffic growth on the LDP. A Highway Capacity Enhancement Plan to accommodate the increasing number of LDP users is being put into place in order to facilitate traffic flow and dispersal, and for smoother travel along the LDP.We expect traffic growth to continue in line with the economic activity of the Klang Valley. LITRAK, KESAS dan SPRINT merupakan syarikat bersekutu Gamuda. LITRAK, pemegang konsesi LDP, ialah sebuah syarikat 40 peratus milik Gamuda dan merupakan syarikat operasi lebuhraya pertama di Malaysia yang disenaraikan di BSKL. Lebuhraya Damansara-Puchong (LDP) LDP yang dikendalikan oleh Lingkaran Trans Kota Holdings Berhad (LITRAK) mempunyai volum trafik yang mencapai 280,000 kenderaan sehari. Semakin banyak kenderaan melalui lebuhrayanya setiap hari berikutan pembangunan beberapa hartanah perdagangan dan kediaman yang tumbuh bagai cendawan di sepanjang dan berhampiran LDP. Ini sebaliknya dijangka akan mendorong kepada pertumbuhan trafik di LDP. Satu Pelan Peningkatan Kapasiti Lebuhraya untuk memenuhi keperluan bilangan pengguna LDP yang semakin bertambah sedang dirangka bagi memudahkan aliran dan penyuraian lalu lintas dan bagi membolehkan kelancaran perjalanan di sepanjang LDP. Kami menjangka akan mencapai kira-kira 10 peratus pertumbuhan trafik pada tahun ini sejajar dengan kepesatan aktiviti ekonomi di Lembah Klang.

174 WE KAMI MENGAMANAH KUASA EMPOWER 48 REVIEW OF OPERATIONS TINJAUAN OPERASI Lebuhraya Shah Alam (LSA) KESAS Sdn Bhd is the concessionaire and expressway operator of LSA, a 34.5km east-west link from Sri Petaling Interchange to Pandamaran Interchange, the access road to Westport near Port Klang. LSA is now registering toll traffic volume of about 220,000 vehicles daily, increasingly becoming a vital route for travel to the south and southwest of the city via the eastern alignment of the Middle Ring Road 2. LSA has been the stimulus for township development and other commercial activities along its corridor that shall in turn promote further use of the highway. Sistem Penyuraian Trafik KL Barat (SPRINT) Completed six months ahead of schedule in June this year, the SPRINT Highway is the Western KL Traffic Dispersal Scheme with three much needed linkages to service traffic through the western corridor of Kuala Lumpur. The Damansara Link and the Kerinchi Link began operation in June and started tolling in September A 3km, 2-lane parallel tollfree road, the only one of its kind in the country, was also built as an alternative for commuters. The Damansara Link and the Kerinchi Link have a daily traffic volume of about 90,000 vehicles per day. Lebuhraya Shah Alam (LSA) KESAS Sdn Bhd, pemegang konsesi yang mengendalikan lebuhraya LSA, sebuah hubungan timur-barat sepanjang 34.5km dari Persimpangan Bersilang Sri Petaling ke Persimpangan Bersilang Pandamaran, jalan akses ke Westport berhampiran Pelabuhan Klang. Kini, LSA mencatatkan volum trafik bertol kira-kira 220,000 kenderaan setiap hari dan semakin menjadi laluan penting bagi perjalanan menuju ke selatan dan barat daya bandaraya melalui penjajaran timur Jalan Lingkaran Tengah 2. LSA menjadi pendorong kepada pembangunan perbandaran di kawasan ini dan pelbagai aktiviti komersial lain di sepanjang koridornya yang sebaliknya akan menggalakkan penggunaan lebuhraya ini. Construction work has begun on the Penchala Link or Package C of the SPRINT Highway that will provide a faster and direct link for the newly developed Sungai Buloh-Damansara corridor to Mont Kiara and Jalan Duta. India Highway - Panagarh-Palsit Road Project The concession agreement for the project was signed 21 November This project involves the upgrading of a two-lane to fourlane 64km highway between Delhi and Calcutta. Total project cost is RM420 million and a special purpose vehicle in which Gamuda has a 50 percent stake will finance, build, operate and maintain the highway. Instead of collecting toll, the Group will be paid annuity over a concession period of 15 years. We plan for our growth and countinuity Kami merangcang untuk kemajuan dan kesinambungan

175 REVIEW OF OPERATIONS TINJAUAN OPERASI 49 Sistem Penyuraian Trafik KL Barat (SPRINT) Lebuhraya SPRINT yang disiapkan enam bulan lebih awal, adalah Skim Penyuraian Trafik KL yang mempunyai tiga hubungan yang amat diperlukan bagi menyediakan kemudahan kepada trafik melalui koridor barat Kuala Lumpur. Hubungan Damansara dan Hubungan Kerinchi telah memulakan operasinya pada bulan Jun dan memulakan pengutipan tol pada bulan September Hubungan sejauh 3km, dengan 2 lorong selari tanpa tol ini yang merupakan satu-satunya jalan seumpamanya di negara ini juga dibina sebagai jalan alternatif untuk para pemandu yang kerap menggunakan jalan ini. Kini, Hubungan Damansara dan Hubungan Kerinchi mempunyai volum trafik kira-kira 90,000 sehari. Kerja pembinaan telah dimulakan bagi Hubungan Penchala atau Lebuhraya SPRINT Pakej C yang akan menyediakan hubungan yang lebih pantas dan terus bagi koridor Sungai Buloh-Damansara yang baru dibangunkan ini ke Mont Kiara dan Jalan Duta. Lebuhraya India - Projek Jalan Panagarh-Palsit Perjanjian konsesi bagi projek ini telah ditandatangani pada 21 November Projek ini melibatkan peningkatan taraf lebuhraya dua lorong kepada empat lorong sejauh 64 km antara Delhi dan Calcutta. Projek ini melibatkan kos berjumlah RM420 juta dan merupakan satu projek untuk tujuan khusus di mana Gamuda yang memiliki 50 peratus kepentingan di dalamnya akan membiayai, membina, mengendali dan menyenggara lebuhraya ini. Oleh kerana ia tidak akan mengutip tol di lebuhraya ini, Kumpulan akan dibayar anuiti sepanjang tempoh konsesi selama 15 tahun. SPLASH Di samping merupakan pengendali lebuhraya tol terbesar di Lembah Klang, kini Gamuda telah melancarkan beberapa projek bekalan air. Apabila SSP3 disiapkan sepenuhnya menjelang tahun 2005, Syarikat Pengeluar Air Sungai Selangor atau SPLASH, akan menjadi salah sebuah pengeluar air terbesar di Malaysia dengan SSP1 dan SSP3 mempunyai kapasiti gabungan yang mampu merawat dan membekalkan 2,000 juta liter air sehari. SPLASH ialah sebuah syarikat bersekutu 30 peratus milik Gamuda. SPLASH Besides being the largest operator of toll highways in the Klang Valley, Gamuda has now embarked on water supply projects. When SSP3 is fully completed in 2005, Syarikat Pengeluar Air Sungai Selangor Sdn Bhd or SPLASH, will become one of the largest water producers in Malaysia with both SSP1 and SSP3 having the combined capacity to treat and supply 2,000 million litres of water per day. SPLASH is a 30 percent owned associated company of Gamuda. PROPERTY DEVELOPMENT Building on our expertise in civil engineering and construction, Gamuda, together with DRB-Hicom launched a 1,820-acre township development project in Kota Kemuning, adjacent to the Shah Alam Expressway in Successful in delivering quality homes and developing a community feeling that is unequaled in the industry, Gamuda has recently launched another township development, Bandar Botanic in Klang and an exclusive residential development, Valencia near the Sungai Buloh Interchange of the North-South Expressway. PEMBANGUNAN HARTANAH Dengan kepakaran mantap dalam kejuruteraan awam dan pembinaan, Gamuda bersama DRB-Hicom telah melancarkan sebuah projek pembangunan perbandaran seluas 1,820 ekar di Kota Kemuning, di sebelah Lebuhraya Shah Alam pada tahun Dengan kejayaannya menyerahkan kediaman berkualiti dan membangunkan sebuah suasana kehidupan masyarakat yang tiada tandingannya dalam industri, baru-baru ini Gamuda telah melancarkan satu lagi pembangunan perbandaran iaitu Bandar Botanic di Klang dan sebuah pembangunan kediaman eksklusif, Valencia berhampiran Persilangan Bertingkat Sungai Buloh di Lebuhraya Utara-Selatan.

176 WE KAMI PRIHATIN LISTEN 50 REVIEW OF OPERATIONS TINJAUAN OPERASI In residential/township development the focus is on innovative, lifestyle and quality homes to meet the middle class family s every need, and strategic location in growth corridors of the Klang Valley. Kota Kemuning has sold more than 2,600 units since its re-launch in 1999 and it boasts a championship-standard golf course that for the fourth consecutive year has been the chosen venue for the Volvo Masters of Malaysia. Bandar Botanic, the second township project, is spread over 1,242 acres in Klang and over 600 units have been booked since its soft launch in July 2001.The high-end 285-acre development of Valencia is in an exclusive neighbourhood near Sungai Buloh with the country s first residents only golf course. Gamuda Land, the Group s property division, is building on our tradition of delivering excellence by value-adding and providing innovative solutions to serve our customers better. This financial year, property earnings improved, contributing 10 percent of the Group s total earnings. Kumpulan memberikan fokus utama terhadap inovasi, gaya hidup dan kualiti kediaman dalam aktiviti pembangunan kediaman/perbandarannya bagi memenuhi setiap keperluan keluarga kelas pertengahan dan kedudukan lokasi yang strategik di koridor pertumbuhan Lembah Klang. Sejak dilancarkan semula pada tahun 1999, sebanyak 2,600 unit kediaman Kota Kemuning berjaya dijual dan ia boleh berbangga mempunyai sebuah padang golf bertaraf antarabangsa kerana ia telah dipilih sebagai tempat bagi pertandingan Volvo Masters of Malaysia untuk tahun keempat berturut-turut. Bandar Botanik, projek perbandaran kedua, terbentang di kawasan seluas 1,242 ekar di Klang dan lebih 600 unit telah ditempah sejak pelancaran awalnya pada bulan Julai Pembangunan Valencia seluas 285 ekar untuk kelas atasan pula terletak di sebuah kejiranan eksklusif berhampiran Sungai Buloh dan ia mempunyai satu-satunya padang golf khusus untuk penduduk yang pertama di negara ini. Gamuda Land, bahagian hartanah Kumpulan, membina tradisi Kumpulan mempertingkatkan tahap kecemerlangan dengan menambah nilai dan menyediakan penyelesaian inovatif untuk menyediakan perkhidmatan lebih baik kepada para pelanggan. Pada tahun kewangan ini, bahagian hartanah mencatat peningkatan dengan menyumbangkan 10 peratus daripada jumlah pendapatan Kumpulan. Liew Sheong Perk IT Executive Eksekutif IT

177 REVIEW OF OPERATIONS TINJAUAN OPERASI 51 PERKILANGAN Dalam bidang perkilangan, Gamuda terlibat dalam operasi perkuarian, pengilangan kertas salinan tanpa karbon, pembuatan bateri boleh dicas semula polimer lithium, sewa loji pembinaan dan perkhidmatan maklumat. Sumbangan Mega Sewa telah meningkat dengan ketara disebabkan oleh permintaan yang lebih tinggi bagi penyewaan loji dan peralatan. Kerja-kerja pembinaan yang sedang dilaksanakan di Pakej C dan SSP3 akan memastikan ia mempunyai aliran pendapatan yang kukuh untuk tempoh beberapa tahun akan datang. G B Kuari merupakan sebuah pembekal premix dan agregat berkualiti untuk pembinaan jalan dan kerja-kerja penyenggaraan dan telah mencapai keputusan yang memuaskan berikutan kecekapan yang semakin baik. Penyambungan projek infrastruktur di negeri Perak seperti Lebuhraya Ipoh-Lumut dan landasan keretapi dua hala Ipoh-Rawang akan melonjakkan permintaan produk kuari. MANUFACTURING & OTHERS Gamuda has several businesses involved in quarrying, the manufacture of carbonless copy paper, manufacture of polymer lithium ion rechargeable batteries, construction plant hire, and information services. Megah Sewa s contribution increased significantly as a result of higher demand for construction plant and equipment hire. On-going works at Package C and SSP3 will ensure its steady stream of earnings for the next few years. G B Kuari is a supplier of quality premix and aggregates for road construction and maintenance works and has had a satisfactory year on improved efficiency. The revival of infrastructure projects in the state of Perak such as the Ipoh-Lumut Expressway and the Ipoh-Rawang railway double-tracking should boost demand for quarry products. Despite a more volatile market caused by dumping by importers, Gamuda Paper Industries (GPI), has managed to improve its turnover and maintain its market leader position in the manufacture of non-carbon required (NCR) paper. Dyna Plastics, the manufacturer of polymer lithium ion batteries is entering the final phases of commissioning its automated production facilities, expected by the end of the year. GIT Services, which is a wholly-owned subsidiary, has been tasked to implement IT solutions and e-business models for the Group.The experience obtained by GIT from constructing a digital foundation for Gamuda s business activities from decision-making on technical matters, better designs, faster response and turnaround time for our construction projects will be invaluable for the Group as a whole. GIT designed and developed the central processing system for electronic payment for LITRAK, SPRINT and KESAS. It also recently launched the first phase of the e-project Portal for our construction subsidiary, Gamuda Engineering to combine web-based technologies with our business processes. Walaupun menghadapi keadaan pasaran yang lemah akibat lambakan oleh para pengimport, Gamuda Paper Industries (GPI) berupaya memperbaiki perolehannya dan mengekalkan kepimpinannya di dalam pengilangan kertas tidak memerlukan karbon (NCR). Dyna Plastics, pengilang bateri polimer lithium ion sedang memasuki fasa akhir pentauliahan langkah automasi kemudahan pengeluarannya yang dijangka akan dilaksanakan menjelang akhir tahun ini. (GIT Services), yang merupakan sebuah syarikat subsidiari milik penuh Gamuda, telah ditugaskan untuk melaksanakan penyelesaian IT dan beberapa model e-perniagaan bagi Kumpulan. Pengalaman yang diperolehi oleh GIT daripada pembinaan asas digital untuk berbagai aktiviti perniagaan Gamuda daripada membuat keputusan mengenai perkara-perkara teknikal, rekabentuk lebih baik, tindak balas lebih pantas dan masa pusing ganti bagi projek-projek pembinaan kami akan memberi nilai yang amat tinggi kepada Kumpulan secara keseluruhannya. GIT telah merekebantuk dan membangunkan sistem pemprosesan sepusat untuk pembayaran secara elektronik bagi LITRAK, SPRINT dan KESAS. Baru-baru ini ia juga telah melancarkan fasa pertama Portal e-projek untuk syarikat subsidiary pembinaan kami, Gamuda Engineering dalam usaha sistematik untuk menggabungkan teknologi berasaskan web dengan proses perniagaan kami.

178 WE KAMI MENCETUS ILHAM INSPIRE 52 REVIEW OF OPERATIONS TINJAUAN OPERASI HUMAN RESOURCE DEVELOPMENT Our Group has been driven by entrepreneurship but a critical element of our growth has been the competitiveness of our workforce. Gamuda invests in and develops its people.we believe that new ideas, knowledge and expertise are the true engines of growth.to enhance the talent and inventiveness of our employees, the Gamuda Learning Center provides training workshops and seminars for all levels and categories of staff throughout the year. Our main challenge is to ensure high professional standards in the construction industry and in line with this a special training school with an initial investment of RM10 million was set up to train crane operators and upgrade the skills and safety practices of construction workers. Gamuda Plant Operator School (GPOS), established in 1997 is recognised and accredited by DOSH (Department of Occupational Safety and Health) and CIDB (Construction Industry Development Board) and to date has trained 11,000 workers both from within and from around the country. PEMBANGUNAN SUMBER MANUSIA Sejak sekian lama, semangat keusahawanan telah menjadi pendorong kepada Kumpulan kami, namun unsur penting dalam pertumbuhan kami adalah daya saingan yang dimiliki oleh warga kerja kami. Gamuda melabur dalam dan memajukan tenaga manusianya. Kami percaya bahawa idea-idea baru, ilmu pengetahuan dan kepakaran menjadi penggerak pertumbuhan yang sebenar. Bagi mempertingkatkan bakat dan daya penciptaan kakitangan kami, Gamuda Learning Center menyediakan berbagai bengkel latihan dan seminar untuk semua peringkat dan kategori pekerja sepanjang tahun ini. Cabaran utama yang kami hadapi adalah untuk memastikan bahawa standard profesional yang tinggi wujud di dalam industri pembinaan dan selaras dengan matlamat tersebut, sebuah sekolah latihan khas dengan pelaburan permulaan berjumlah RM10 juta telah ditubuhkan bagi melatih operator kren dan mempertingkatkan kemahiran serta amalan keselamatan di kalangan para pekerja pembinaan. Sejak penubuhannya pada tahun 1997, Gamuda Plant Operator School (GPOS) yang diiktiraf dan diakreditasi oleh DOSH (Jabatan Keselamatan dan Kesihatan Pekerjaan) dan CIDB (Lembaga Pembangunan Industri Pembinaan) telah melatih seramai 11,000 pekerja dari seluruh negara sehingga kini. Koh Chun Yuen Supervisor Penyelia

179 REVIEW OF OPERATIONS TINJAUAN OPERASI 53 Baru-baru ini, Kumpulan telah memulakan inisiatif untuk memberi Anugerah Pengurusan Terbaik kepada kakitangannya dalam enam kategori (perancang terbaik, kualiti terbaik, inovasi terbaik, keusahawanan terbaik, jurulatih terbaik dan pelajar terbaik) sebagai mengiktiraf usaha individu dan pasukan yang telah menampilkan kecemerlangan dalam pekerjaan mereka. TANGGUNGJAWAB KORPORAT KAMI Berdasarkan rangka kerja peranan ekonomi dan perniagaan, kami juga bertekad untuk memenuhi matlamat sosial demi kebaikan masyarakat umum. Penubuhan GPOS sebagai sebuah pusat latihan vokasional bukan bermatlamat mencari keuntungan menggambarkan kesungguhan matlamat kami ini. Kini, ia menyediakan latihan berkaitan piawaian keselamatan dan amalan terbaik kepada para pekerja dalam industri pembinaan. The Group recently instituted the practice of giving Best Management Awards to its employees for six categories (best planner, best quality, best innovation, best entrepreneurship, best trainer and best learner) that gives recognition to individuals and teams who have made breakthrough accomplishments in their work. OUR CORPORATE RESPONSIBILITY Within the framework of our economic role and business, we also endeavour to pursue social objectives in the interest of the larger good. The setting up of GPOS as a non-profit vocational training center has this overriding aim. It now provides training on safety standards and best practices to workers in the construction industry. We also take the long-term view of awarding scholarship grants to outstanding Malaysian students. Since the programme started in 1996, Gamuda has given scholarships to 44 students in foreign and local universities. This year the Group awarded scholarship grants to six top students, three studying in local universities and three abroad. They were selected by an independent committee for their academic and all round excellence but without sufficient financial means. DIVIDEND Gamuda has declared a final dividend per share of 4 sen less tax of 28 percent. Together with an earlier interim dividend per share of 4 sen per share, tax exempt, the total gross dividend per share for the period is 8 sen. Kami juga mempunyai wawasan jangka panjang melalui penganugerahan biasiswa kepada pelajar Malaysia yang berprestasi cemerlang. Sejak program ini dimulakan pada tahun 1996, Gamuda telah menyumbangkan biasiswa kepada 44 orang pelajar untuk melanjutkan pelajaran di universiti tempatan dan luar negeri. Pada tahun ini, Kumpulan telah menyampaikan biasiswa kepada enam pelajar cemerlang, tiga daripada mereka melanjutkan pelajaran di univerisiti tempatan manakala tiga lagi di universiti luar negeri. Mereka dipilih berdasarkan prestasi akademik masing-masing dan bakat serba boleh yang cemerlang, tetapi tidak mempunyai kemampuan dari segi kewangan. DIVIDEN Gamuda telah mengisytiharkan dividen akhir sesaham sebanyak 4 sen ditolak 28 peratus cukai. Bersama-sama dengan dividen interim yang terdahulu sebanyak 4 sen sesaham dikecualikan cukai, jumlah dividen kasar sesaham bagi tempoh ini adalah sebanyak 8 sen.

180 WE KAMI BERTINDAKBALAS RESPOND 54 REVIEW OF OPERATIONS TINJAUAN OPERASI PROSPECTS FOR 2002 The Group expects the construction industry to gain from the Government s development expenditure in Budget Its emphasis on social infrastructure construction of hospitals, housing, water and electricity supply and major infrastructure projects including the construction of new airports, bridges, flood mitigation, upgrading of trunk roads have tremendous multiplier impact and will stimulate growth. We anticipate water concession earnings to improve with increasing contribution from SSP3 in the next few years. The recent acquisition of 80 percent stake in Gamuda Water (formerly known as The Sweet Water Management) which will operate and maintain SSP3 will boost Gamuda s strength in the water treatment business. PROSPEK BAGI 2002 Kumpulan menjangka industri pembinaan akan mendapat kelebihan daripada perbelanjaan pembangunan Kerajaan dalam Belanjawan Penekanan yang diberi terhadap infrastruktur sosial pembinaan hospital, perumahan, bekalan air dan elektrik dan berbagai projek infrastruktur utama yang merangkumi pembinaan lapangan terbang baru, jambatan, pengawalan banjir, peningkatan jalan sampingan mempunyai kesan berganda yang besar dan akan merangsang pertumbuhan. Linda Lim, Senior Sales Manager with a client Linda Lim, Pengurus Jualan Kanan dengan pelanggan

181 REVIEW OF OPERATIONS TINJAUAN OPERASI 55 Kami menjangka pendapatan konsesi air akan meningkat dalam tempoh beberapa tahun akan datang berikutan sumbangan yang semakin baik daripada SSP3. Pengambilalihan 80 peratus kepentingan di dalam Gamuda Water (dahulu dikenali sebagai The Sweet Water Management) yang akan mengendali dan menyelenggara SSP3 akan mengukuhkan lagi penglibatan Gamuda dalam perniagaan rawatan air. Kami mengakui kepentingan piawaian tadbir urus korporat yang tinggi dan sentiasa berusaha memperbaiki amalan tadbir urus korporat yang baik. Pada masa hadapan, Kumpulan optimistik akan berjaya mencatat keputusan yang baik pada tahun 2002 kerana kami telahpun memulakan beberapa inisiatif untuk mengekalkan pertumbuhan teguh dan mempertingkatkan kecekapan operasi kami. PENGHARGAAN Saya bagi pihak Lembaga Pengarah ingin mengucapkan terima kasih kepada pihak pengurusan dan kakitangan yang telah memberi sokongan dan komitmen padu. Prestasi membanggakan yang kita capai pada tahun 2001 adalah hasil daripada semangat berpasukan dan ketekunan yang anda sekalian tampilkan. Hakikatnya, sumber manusia kekuatan kami menjadi asas sejak 25 tahun penglibatan kami dalam perniagaan. We recognise the importance of high standards of corporate governance and will continuously endeavour to improve good corporate governance practices. Looking ahead, we are optimistic that the Group will do well in 2002 as we have already embarked on several initiatives to sustain strong growth and further improve our operational effectiveness. ACKNOWLEDGMENTS AND APPRECIATION On behalf of the Board I would like to thank the management and staff for their relentless support and commitment. Our commendable performance in 2001 is the result of teamwork and hard work. Truly, our people are our strength in the past 25 years of business. I would like to welcome the following new non-executive members to the Board of Directors:Y Bhg Tan Sri Dato Mohd Ramli Kushairi,Y M Raja Dato Seri Abdul Aziz Raja Salim,Y Bhg Datuk Ab Rahman Omar and Tuan Haji Azmi Mat Nor join the Board as Executive Director. They have been involved in government and industry, thus they bring breadth and depth to the Gamuda Board with their invaluable experiences. Lastly, the Board records our gratitude to all customers, government authorities and agencies for their assistance, cooperation and support.to our shareholders, we pledge our commitment of further enhancing shareholder value. Tan Sri Dato Ir Talha Haji Mohd Hashim Chairman Saya dengan sukacitanya mengalu-alukan para ahli bukan eksekutif baru yang berikut ke dalam Lembaga Pengarah: Y Bhg Tan Sri Dato Mohd Ramli Kushairi, Y M Raja Dato Seri Abdul Aziz Raja Salim dan Y Bhg Datuk Ab Rahman Omar. Sementara itu, Tuan Haji Azmi Mat Nor menyertai Lembaga Pengarah sebagai seorang pengarah eksekutif. Mereka pernah berkhidmat dalam kerajaan dan industri dan dengan demikian memberikan manfaat yang luas dan mendalam kepada Lembaga Pengarah Gamuda melalui pengalaman mereka yang amat bernilai itu. Akhir sekali, Lembaga Pengarah ingin merakamkan ucapan terima kasih kepada semua pelanggan, pihak-pihak berkuasa dan agensi negeri yang telah memberi kerjasama dan sokongan kepada kami. Kepada para pemegang saham sekalian, kami berikrar akan memenuhi komitmen kami untuk mempertingkatkan lagi nilai pemegang saham. Tan Sri Dato Ir Talha Haji Mohd Hashim Pengerusi

182 WE KAMI MENJALIN HUBUNGAN REACH 56 GAMUDA CORPORATE EVENTS 2001 ACARA KORPORAT GAMUDA June Jun 16 G B Kuari, a subsidiary of Gamuda, obtains MS 1S certification from SIRIM for its environment friendly system. G B Kuari, sebuah syarikat subsidiari Gamuda memperolehi sijil MS ISO daripada SIRIM bagi sistemnya yang mesra alam. January Januari March Mac June Jun August Ogos 11 Gamuda Berhad holds its 24th AGM and EGM at Kota Permai Golf & Country Club. Gamuda Berhad mengadakan AGM dan EGMnya yang ke 24 di Kota Permai Golf & Country Club. 29 June Jun 28 Y B Dato Seri S Samy Vellu opens new SPRINT Highway. Y B Dato Seri S Samy Vellu merasmikan Lebuhraya SPRINT yang baru. 29 Megah Sewa, a subsidiary of Gamuda, achieves MS ISO 9002 accreditation for its quality system in the provision of rental and maintenance services in plant and equipment hire. Megah Sewa, sebuah syarikat subsidiari Gamuda, memperolehi akreditasi MS ISO 9002 bagi sistem kualitinya dalam menyediakan khidmat penyenggaraan loji dan sewa peralatan. 1 Two Directors retire; Mr Chan Kuan Nam who joined the Board in 1981 and Mr Heng Teng Kuang who became a board member in 1986, resigned in 1988 and reappointed in Dua orang Pengarah bersara; En Chan Kuan Nam yang menyertai Lembaga Pengarah pada tahun 1981 dan En Heng Teng Kuang yang menjadi ahli lembaga pada 1986, meletak jawatan pada 1988 dan dilantik semula pada Kota Permai Golf & Country Club hosts the prestigious 2001 Volvo Masters golf championship for the forth consecutive year. Kota Permai Golf & Country Club menjadi tuan rumah kepada pertandingan Golf Volvo Masters 2001 yang berprestij untuk tahun keempat berturut-turut. 28 LITRAK holds its 6th AGM & EGM at Kota Permai Golf & Country Club. LITRAK mengadakan AGM dan EGM yang ke 6 di Kota Permai Golf & Country Club.

183 21 November November GAMUDA CORPORATE EVENTS 2001 ACARA KORPORAT GAMUDA SPRINT signs agreement with Arab Malaysian Merchant Bank Berhad for RM1.4 billion project financing facilities. SPRINT menandatangani perjanjian dengan Arab Malaysian Merchant Bank Berhad untuk kemudahan pembiayaan projek berjumlah RM1.4 bilion. 11 September September 9 Gamuda launches first phase of e-project portal, a project that has been jointly developed by GIT Services with IBM Malaysia. Gamuda melancarkan fasa pertama portal e-projek, sebuah projek yang dimajukan secara usahasama oleh GIT Services dengan IBM Malaysia. 20 Gamuda celebrates its 25th Anniversary. Gamuda menyambut Ulang Tahun ke 25. September September October Oktober November November 22 Three Independent and Non- Executive Directors are appointed: Y Bhg Tan Sri Dato Mohd Ramli Kushairi,Y M Raja Dato Seri Abdul Aziz Raja Salim, and Y Bhg Datuk Ab Rahman Omar. Perlantikan tiga orang Pengarah Bebas dan Bukan Eksekutif: Y Bhg Tan Sri Dato Mohd Ramli Kushairi,Y M Raja Dato Seri Abdul Aziz Raja Salim dan Y Bhg Datuk Ab Rahman Omar. 9 SPRINT begins tolling of its completed highways on Jalan Damansara and Kerinchi Link. SPRINT memulakan operasi pengutipan tol di lebuhrayanya yang telah siap di Jalan Damansara dan Hubungan Kerinchi. 11 Minister of Human Resource,Y B Dato Dr Fong Chan Onn presents scholarship awards to top undergraduate students in local and foreign universities.the honourable Minister also presented certificates of competency to crane operators trained at Gamuda Plant Operator School (GPOS).The certificates are recognised by Malaysia s National Institute of Occupational, Safety and Health. Menteri Sumber Manusia,Y B Datuk Dr Fong Chan Onn menyampaikan biasiswa kepada penuntut peringkat ijazah di universiti tempatan dan luar negeri yang cemerlang.yang Berhormat Menteri turut menyampaikan Sijil Kekompetenan kepada pengendali kren yang dilatih di Gamuda Plant Operator School (GPOS). Sijil tersebut diiktiraf oleh Institut Keselamatan dan Kesihatan Pekerjaan Kebangsaan Malaysia. 20 LITRAK obtains MS ISO 9002:1994 certification from SIRIM for its efficient operations and administrative system. LITRAK memperolehi sijil ISO MS 9002:1994 daripada SIRIM bagi sistem operasi dan pentadbirannya yang cekap. 24 Tuan Haji Azmi Mat Nor is appointed Executive Director to the Board. Mr Chow Chee Wah is appointed Alternate Director to Dato Lin Yun Ling. Tuan Haji Azmi Mat Nor dilantik sebagai Pengarah Eksekutif Lembaga Pengarah. Encik Chow Chee Wah dilantik sebagai Pengarah Pengganti kepada Dato Lin Yun Ling. 29 G B Kuari ranked 25th and receives Enterprise Award for SMIs. G B Kuari dipilih menduduki tempat ke 25 dan menerima Anugerah Enterprise bagi IKS. 20 October Oktober 21 Concession Agreement signed to undertake the Panagarh-Palsit Highway project in the State of West Bengal in India. Perjanjian Konsesi ditandatangani bagi pelaksanaan projek Lebuhraya Panagarh-Palsit di Negeri Bengal Barat, India.

184 WE KAMI MENYUMBANG SUPPORT 58 GROUP COMMUNITY EVENTS 2001 ACARA KEMASYARAKATAN KUMPULAN Menteri Besar Selangor Y A B Dato Seri Dr Mohamad Khir Toyo officiates the tree planting ceremony at the Orang Asli new village, Kg Gerachi as part of their beautification and landscaping programme prior to shifting in.with Kg Gerachi successfully relocated, SPLASH is now working towards completing the new Kg Pertak. Menteri Besar Selangor,Y A B Dato Seri Dr Mohamad Khir Toyo merasmikan acara menanam pokok di kampung baru Orang Asli, Kg Gerachi sebagai sebahagian daripada program pengindahan dan lanskap sebelum mereka berpindah ke sana. Dengan kejayaan pemindahan ke Kg Gerachi, kini SPLASH sedang mengusahakan perpindahan ke kampung baru Pertak pula. 16 April April February Februari April April May Mei 4 Opening of Le Tour de Langkawi, an annual cycling event with participants from around the globe, where Gamuda Berhad is one of the main corporate sponsors.y A B Prime Minister, Dr Mahathir Mohamad officiated the Opening. Pelancaran Le Tour de Langkawi, acara lumba basikal tahunan yang disertai oleh para pelumba dari seluruh dunia di mana Gamuda merupakan salah satu penaja utama.y A B Perdana Menteri, Dr Mahathir Mohamad telah merasmikan upacara pelancaran tersebut. 8 May Mei 8 Y B Dato Seri S Samy Vellu, Minister of Works, launches SPRINT community programme at SMK Sri Hartamas and officiates the opening of the pedestrian bridge build for the school. Committed to the safety of the schoolchildren, SPRINT has built a total of nine pedestrian bridges on its highway, five more than what was required in the concession agreement. Y B Dato Seri S Samy Vellu, Menteri Kerja Raya, melancarkan program komuniti SPRINT di SMK Sri Hartamas dan merasmikan pembukaan jejambat pejalan kaki untuk sekolah tersebut. SPRINT yang komited terhadap keselamatan kanak-kanak sekolah, telah membina sebanyak sembilan buah jejambat pejalan kaki di Lebuhrayanya, lima lebih daripada yang telah ditetapkan dalam perjanjian konsesi. 30 LITRAK together with Y B Chew Mei Fun, Petaling Jaya Utara s Member of Parliament organise a road safety campaign together with residents associations at Lebuhraya Damansara-Puchong (LDP).Y B Donald Lim, Parliamentary Secretary to the Transport Ministry was present to officiate the event. LITRAK bersama-sama dengan Y B Chew Mei Fun,Ahli Parlimen Petaling Jaya Utara menganjurkan kempen keselamatan jalanraya bersama persatuan penduduk di Lebuhraya Damansara-Puchong (LDP).Y B Donald Lim, Setiausaha Parlimen Kementerian Pengangkutan hadir untuk merasmikan acara tersebut.

185 7 Julai Julai GROUP COMMUNITY EVENTS 2002 ACARA KEMASYARAKATAN KUMPULAN The then Regent of Selangor Darul Ehsan, D Y T M Tengku Idris Shah who is now D Y M M Sultan Sharafuddin Idris Shah ibni Almarhum Sultan Salahuddin Abdul Aziz Shah presents new homes to 41 Orang Asli families at Kg Gerachi as part of the resettlement of Kg Gerachi and Kg Pertak residents in the construction of SSP3. Raja Muda Selangor, D Y TM Tengku Idris Shah yang kini bergelar D Y M M Sultan Sharafuddin Idris ibni Almarhum Sultan Salahuddin Abdul Aziz Shah menyerahkan kediaman baru kepada 41 keluarga Orang Asli di Kg Gerachi sebagai sebahagian daripada usaha pemindahan penduduk Kg Gerachi dan Kg Pertak yang terlibat dalam pembinaan SSP3. 14 Julai Julai 14 LITRAK ended its week-long recycling campaign at its rest area at Bandar Sunway toll plaza with a ceremony officiated by Selangor Housing, Squatters and Environment Committee Chairman, Datuk Mokhtar Ahmad Dahlan. LITRAK menamatkan Kempen Kitar Semulanya yang diadakan selama seminggu di kawasan rehat di plaza tol Bandar Sunway. Upacara ini telah dirasmikan oleh Datuk Mokhtar Ahmad Dahlan, Pengerusi Jawatankuasa Perumahan, Setinggan dan Alam Sekitar negeri Selangor. July Julai September September 30 May Mei 11 Minister of Human Resource,Y B Datuk Fong Chan Onn presents the annual Gamuda Scholarship Awards to six undergraduate students at local and foreign universities. Certificates of Competency were also presented to 36 crane operators trained at Gamuda Plant Operator (GPOS). Gamuda hopes to equip local construction workers with basic construction know-how and to improve their performance levels. Menteri Sumber Manusia,Y B Datuk Fong Chan Onn menyampaikan Anugerah Biasiswa Gamuda kepada enam pelajar peringkat ijazah di universiti tempatan dan luar negeri.turut disampaikan ialah Sijil Kekompetenan kepada 36 pengendali kren yang dilatih di Gamuda Plant Operator School (GPOS). Gamuda berharap dapat memperlengkapkan para pekerja pembinaan dengan kemahiran asas serta mempertingkatkan tahap prestasi mereka.