02 GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X 2004 2003 2002 2001 2000 RM 000 RM 000 RM 000 RM 000 RM 000 Performance REVENUE 106,286 92,241 59,635 38,941 311,874 Profit/(Loss) before taxation 40,092 33,458 20,439 (46,418) 29,225 Earnings/(Loss) 24,243 21,424 13,772 (42,559) 53,012 Earnings excluding exceptional items 24,243 21,424 13,772 3,630 53,012 Earnings before interest, tax, depreciation, amortisation, and exceptional items 57,460 50,531 35,364 12,332 59,261 Funds Employed Shareholders funds 362,093 342,003 414,075 401,134 438,408 group financial highlights 2004 2003 2002 2001 2000 Per Ordinary Share unit of RM1.00 each Net tangible assets (sen) 313.9 296.5 358.9 347.7 380.0 Earnings/(Loss) (sen) 21.01 18.6 11.9 (36.9) 46.0 Earnings excluding exceptional items (sen) 21.01 18.6 11.9 3.1 46.0 Gross dividend (sen) 10.0 5.0 5.0 1.0 1.0 Return on Shareholders Funds (%) 6.7 6.3 3.3 (10.6) 12.1
ANNUAL REPORT 2004 03 Group Profit/(Loss) Before Taxation RM Million Group Earnings/(Loss) RM Million 90 90 60 30 29.2 20.4 33.4 40.1 60 30 53.0 13.8 21.4 24.2 0 0-30 -30-60 (46.4) -60 (42.5) -90-90 financial statistics Group Earnings Excluding Exceptional Items RM Million Shareholders Funds RM Million 90 600 75 60 53.0 500 400 438 401 414 342 362 45 300 30 21.4 24.2 200 15 3.6 13.8 100 0 0
04 GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X corporate information BOARD OF DIRECTORS CHAN HUA ENG Chairman YAW CHEE MING Managing Director TAN SRI DATO THONG YAW HONG DATUK HENRY CHIN POY-WU MD YUSOF BIN HUSSIN CHEAM DOW TOON Finance Director SECRETARIES Tan Ghee Kiat T.V. Sekhar a/i T.G. Venkatesan AUDIT COMMITTEE Datuk Henry Chin Poy-Wu Chan Hua Eng Tan Sri Dato Thong Yaw Hong Md Yusof bin Hussin Cheam Dow Toon REGISTERED OFFICE Level 42, Menara Maxis Kuala Lumpur City Centre 50088 Kuala Lumpur Tel: 03 2382 3999 Fax: 03 2162 9311 REGISTRAR Lawco Corporate Services Sdn Bhd Suite 16-10, Level 16 Wisma UOA II 21, Jalan Pinang 50450 Kuala Lumpur Tel: 03 2170 2622 Fax: 03 2163 0763 AUDITORS PricewaterhouseCoopers 11th Floor, Wisma Sime Darby Jalan Raja Laut 50350 Kuala Lumpur Tel: 03 2693 1077 SOLICITORS Kadir, Andri & Partners Chooi & Company Reddi & Co BANKERS Malayan Banking Berhad RHB Bank Berhad
ANNUAL REPORT 2004 05
06 GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X Chan Hua Eng Chairman Independent Non-Executive Director Chan Hua Eng a Malaysian citizen, aged 76, the Chairman of Glenealy Plantations (Malaya) Berhad [ Glenealy ], holds a Bachelor of Law from the University of Bristol. He is a Barrister of Middle Temple and an Associate Member of the Institute of Taxation in the United Kingdom [ UK ]. He was a Partner of Shearn Delamore & Co since 1960 and retired as its Senior Partner in 1987. He was appointed to the Board of Glenealy as Director and Chairman on 28 September 1995. He is currently a director of several other public listed companies in Malaysia, namely, Lafarge Malayan Cement Berhad, Carlsberg Brewery Malaysia Berhad, Pacific & Orient Berhad, Rohas-Euco Industries Berhad and Lingui Developments Berhad [ Lingui ]. Datuk Henry Chin Poy-Wu Independent Non-Executive Director Datuk Henry Chin Poy-Wu a Malaysian citizen, aged 67, was appointed to the Board of Glenealy on 23 January 1995 upon his retirement from the Royal Malaysian Police after 39 years of service. He has held various key posts during his service with the police force and his position prior to his retirement was Commissioner of Police in the Federal Territory of Kuala Lumpur. He is presently a director of J.T. International Berhad, Nanyang Press Holdings Berhad, Malaysian Mosaics Berhad, Eastern & Oriental Berhad, Kilang Papan Seribu Daya Berhad, Magnum Corporation Berhad and Hap Seng Consolidated Berhad. He is a Board Member of the University Malaysia, Sabah, Member of the Sabah State Pardon Board and Deputy Chairman of Malaysia Crime Prevention Foundation. profile of board of directors Yaw Chee Ming Non-Independent Executive Director Md. Yusof bin Hussin Independent Non-Executive Director Yaw Chee Ming a Malaysian citizen, aged 45, the Managing Director of Glenealy, was appointed a Director on 22 June 1995. He holds a Master of Business Administration from the University of Southern California in the United States of America. He is also the Managing Director of Lingui which is listed on the Main Board of Bursa Malaysia Securities Berhad. Mr. Yaw is also the Chief Executive Officer of Samling Strategic Corporation Sdn. Bhd. [ SSC ] which has diversified interests including forest management, downstream woodbased processing and property development. Md. Yusof bin Hussin a Malaysian citizen, aged 55, was appointed to the Board of Glenealy on 3 January 2001. He was the Managing Director of Island & Peninsular Berhad for the period from 16 June 1993 to 15 June 1999. He is presently a director of UMW Holdings Berhad, AIC Corporation Berhad and Mayban Unit Trust Berhad and has previously served on the Board of Directors of Malayan Banking Berhad and Austral Enterprises Berhad. He graduated with a Bachelor of Economics degree from the University of Tasmania, Australia. He is also a Member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants.
ANNUAL REPORT 2004 07 Tan Sri Dato Thong Yaw Hong Independent Non-Executive Director Tan Sri Dato Thong Yaw Hong a Malaysian citizen, aged 74, was appointed to the Board of Glenealy on 27 February 1987. He was the Alternate Governor for Malaysia on the Board of Governors of the World Bank and Asian Development Bank. In his capacity as Director-General of the Economics Planning Unit in the Prime Minister s Department, he also served as the Secretary to the National Economic Council which was responsible for the formulation of the National Five-Year Development Plans. He was appointed Secretary-General of the Ministry of Finance, Malaysia in 1979. As Secretary - General of the Ministry of Finance, he was also a director of the Board of Bank Negara Malaysia for the period from 1979 to 1986. Among his many other appointments, he had served as Chairman of the Employees Provident Fund and the Capital Issues Committee. He was also a Member of the Foreign Investment Committee, National Development Planning Committee, Council on Invisible Trade, Armed Forces Council under the Chairmanship of the Prime Minister and Minister of Defence, and the Malaysia Industrial Development Finance Board. He is currently a trustee of the lnstitut Jantung Negara Foundation, a member of National Economic Action Council working group and a Pro Chancellor of University Putra Malaysia. He is presently the Co-Chairman of Public Bank Berhad and had served as the Chairman of Public Finance Berhad. He also holds directorships in several other public companies, namely, Batu Kawan Berhad, Kuala Lumpur Kepong Berhad, Berjaya Land Berhad, Malaysia Mining Corporation Berhad, HHB Holdings Berhad, Berjaya Sports Toto Berhad, Berjaya General Insurance Berhad, Malaysian South-South Corporation Berhad, Public Merchant Bank Berhad and KTM Berhad. profile of board of directors Cheam Dow Toon Non-Independent Executive Director Cheam Dow Toon a Malaysian citizen, aged 50, the Finance Director of Glenealy, was appointed a Director on 24 July 1995. On 1 July 1997, he was appointed the Finance Director of Glenealy and Lingui. He is an Associate Member of The Chartered Institute of Management Accountants, UK, a graduate of The Institute of Chartered Secretaries and Administrators, UK and a Member of the Malaysian Institute of Accountants. Prior to coming back to Malaysia in 1981, he was trained in the UK with a Multinational Company in Management Accounting and he was a Divisional Accountant in one of its Operating Division. He was the Financial Controller and Company Secretary of Dunlop Estates Berhad from 1983 to 1987 and also the Group Company Secretary of Multi-Purpose Holdings Berhad from 1986 to 1987. Further, he completed the Wharton Advanced Management Programme from Wharton Business School, the University of Pennsylvania in 1999. He is also presently the Vice President (Corporate Finance) of SSC and a Director of Amalania Koko Berhad.
08 GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X group corporate structure as at 30 September 2004 100% PUNCAK SELASIH SDN BHD 68.47% AMALANIA KOKO BERHAD 100% TIMOR ENTERPRISES SENDIRIAN BERHAD 100% TITLELAND DEVELOPMENT SDN BHD 70% SAMLING PLANTATION SDN BHD 100% SHARIKO (M) SDN BHD 49% MG BIOGREEN SDN BHD (formerly known as Amalasal (M) Sdn Bhd)
ANNUAL REPORT 2004 9