Corporate Vision and Mission Corporate Vision To be a progressive and technology-driven global conglomerate by capitalizing on our core business, while seeking new opportunities to constantly enhance the economic value for our stakeholders. Corporate Mission Focusing on customer needs which meet their requirements and drive their success. Applying information Technology to enhance our business efficiency and Supply Chain Management. Monitor continued improvement and upgrade our operation technologies, facilities and Human Resource capabilities. Inculcate a passion for excellence and commitment while contributing towards nation building and welfare of society. Supporting our enterprising employees through Intrapreneurship schemes. Identifying new ventures for growth.
Contents One of the prestigous projects by PLB-KH for PNB @ Jalan Raja Laut, Kuala Lumpur. Vision & Mission Statement i Cover Rasionale ii Corporate Information 2-3 Corporate Structure 4 Board of Directors 5-9 Chairman s Statement 10-13 Financial Highlights 14 Audit Committee Statement 15-16 Corporate Governance Statement 17-19 Directors Responsibility Statement 19 Additional Disclosures 20 Statement of Internal Control 21 Financial Statement 22-88 Group List of Properties 89-91 Shareholdings & Warrant Holdings Statistics 92-94 Notice of Annual General Meeting 95-96 Statement Accompanying Notice of AGM of the Company 97 Notice of Dividend Entitlement 98 Proxy Form Cover Rationale The cover of the Annual Report for 2003 represents the company s vision and mission which exemplifies growth with stability as represented by the rising structure. PLB not merely providing a house but... a place or an environment called HOME. We engineer an atmosphere that assures comfort in service, quality and delivery.
Corporate Information Board of Directors Dato Ong Choo Hoon (Group Executive Chairman) Dato Dr. Maj. (C.D.) Ong Seng Soon (Group Managing Director) Encik Mardzukhi Bin Abu Bakar (Executive Director) Auditors JB Lau & Associates 51-8-A Menara BHL Bank Jalan Sultan Ahmad Shah, 10050 Penang. Telephone No. : 04-2287828 Fax No. : 04-2279828 Dato Mohd. Shariff Bin Ibrahim (Alternate Director to Encik Mardzukhi Bin Abu Bakar) Madam Ong Guat Beng (Executive Director) Mr. Ong Seng Chye (Executive Director) Mr. Saw Chin Eng (Independent Non-Executive Director) Dato Noordin Bin Md. Noor (Independent Non-Executive Director) Company Secretary Mr. Tan Choong Khiang (MAICSA 7018448) Registered Office 51-8-B Menara BHL Bank Jalan Sultan Ahmad Shah, 10050 Penang Telephone No. : 04-2287828 Fax No. : 04-2279828 02
Corporate Information Share Registrar Audit Committee Signet Share Registration Services Sdn Bhd 11 th Floor, Tower Block, Kompleks Antarabangsa Jalan Sultan Ismail, 50250 Kuala Lumpur. Telephone No. : 03-21454337 Fax No. : 03-21421353 Chairman Members - Mr. Saw Chin Eng (Independent Non-Executive Director) - Dato Noordin Bin Md. Noor (Independent Non-Executive Director) - Madam Ong Guat Beng (Executive Director) Bankers EON Bank Berhad Malayan Banking Berhad Hong Leong Bank Berhad RHB Bank Berhad AmBank Berhad Solicitors Messrs. Ban Eng, Annual & Foong Messrs. Ghazi & Lim Messrs. Ibrahim & Kim Messrs. Khor, Anuar & Khong Messrs. SAN & Associates Messrs. Salina Lim Kim Chuan & Co. Messrs. Zaid Ibrahim & Co. Stock Exchange Listing Main Board of the Kuala Lumpur Stock Exhange Stock Short Name : Share : PLB Code : 7055 Warrant : PLB-WA Code : 7055wa 03
Corporate Structure Gaintrend Sdn Bhd Construction PLB - KH Bina Sdn Bhd Fattigold Sdn Bhd 51% Vestingold Sdn Bhd 51% Construction Material Manufacturing Investment Holding Property Development Information Technology Dynabricks Sdn Bhd PLB Ventures Sdn Bhd PLB Land Sdn Bhd PLB.Com Ventures Sdn Bhd PLB Green Construction Sdn Bhd 70% PLB Steel Engineering Sdn Bhd 70% Diligent Success Sdn Bhd 50% Era Pujaan Sdn Bhd* Excelgrand Properties Sdn Bhd* Hektar Pujaan Sdn Bhd* Imbas Kaya Sdn Bhd Indah Mulia Development Sdn Bhd Pelangi Sehati Development Sdn Bhd Landsdale Development Sdn Bhd Sebadi Corporation Sdn Bhd Lean Seng Chan (Quarry) Sdn Bhd 50% Builtonlands Palm Sdn Bhd 50% Subsidiary * Have not commenced operations Associated Company 04
Board Of Directors Dato Ong Choo Hoon Group Executive Chairman Dato Dr. Maj. (C.D.) Ong Seng Soon Group Managing Director Encik Mardzukhi Bin Abu Bakar Excecutive Director Dato Mohd. Shariff Bin Ibrahim Alternate Director to Encik Mardzukhi Bin Abu bakar Madam Ong Guat Beng Executive Director Mr. Ong Seng Chye Executive Director Mr. Saw Chin Eng Independent Non-Executive Director Dato Noordin Bin Md. Noor Independent Non-Executive Director 05
Director s Profile Dato Ong Choo Hoon Group Executive Chairman, aged 64, Malaysian Dato Ong Choo Hoon was appointed to the Board on 11 October 1997 as the Group Executive Chairman. Dato Ong is the founder of the PLB Group and has more than 38 years of experience in the machinery, engineering and construction industry. Dato was actively involved in machinery engineering contracts and provision of maintenance services from 1962 to 1975 before he subsequently ventured into the construction business in 1976. Dato Ong has embarked on a number of successful property development projects over the years. He is responsible for the overall management and strategic planning of the PLB Group. Dato Ong Choo Hoon represents PLB-KH Bina Sdn Bhd, a wholly-owned subsidiary of the Company, as the patron of the Penang State Foundry and Engineering Industries Association. Dato Ong is the chairman of the Remuneration Committee of the Company and does not hold any other directorships in public companies. Dato Ong Choo Hoon is the father of Dato Dr. Maj. (C.D.) Ong Seng Soon, Madam Ong Guat Beng and Mr. Ong Seng Chye who are also Directors of the Company. He is a director and major shareholder of Leading Builders Sdn. Bhd., which is a major shareholder of the Company. He has no conflict of interest with the Company and has no convictions for offences within the past ten years. Dato Dr. Maj. (C.D.) Dato Ong Seng Soon Group Managing Director, aged 38, Malaysian Dato Dr. Maj. (C.D.) Ong Seng Soon was appointed as the Group Managing Director on 11 October, 1997. He holds a degree of Doctorate of Philosophy in Construction Management from Clayton University, United States of America. He joined PLB-KH Bina Sdn Bhd ( PKH ) as a Site Engineer in 1989 and was responsible for the site and construction management of all major construction projects undertaken by the Company. Since his appointment to the Board of PKH and the Company, his in-depth knowledge of the construction industry has contributed significantly to the growth and expansion of the PLB Group. Dato Dr. Maj. (C.D.) Ong oversees the operations management, corporate development and marketing for the PLB Group. Dato Dr. Maj. (C.D.) Ong is a member of the Corporate Governance Committee, Risk Management Committee of the Company and Chairman of various working committees in the Group. He is a Major (Associate Officer) of the Department of Civil Defense Malaysia (Ministry of Home Affairs), a Member of the Board of Engineers of Malaysia, a Graduate Member of the Institute of Engineers, Malaysia, a Vice President of Penang Chinese Chamber of Commerce, a Council Member of Penang Construction Consultative Council, a Director of Penang Han Chiang Associated Chinese School Association. He represents PKH as a Council Member in the Master Builders Association of Malaysia ( MBAM ) and as Council Committee in Research Advisory Council of Construction Industry Development Board of Malaysia ( CIDB ). Dato Dr. Maj. (C.D.) Ong does not hold any other directorships in public companies. Dato Dr. Maj. (C.D.) Ong is the son of Dato Ong Choo Hoon and the brother of Ms Ong Guat Beng and Mr. Ong Seng Chye. He is a director and major shareholder of Leading Builders Sdn. Bhd., which is a major shareholder of the Company. He has no conflict of interest with the Company and has not been convicted of any offences within the past ten years. 06
Director s Profile Encik Mardzukhi Bin Abu Bakar Executive Director, aged 47, Malaysian Encik Mardzukhi Bin Abu Bakar was appointed as the Executive Director on 11 October 1997 and oversees the business development of the Group. He obtained a Certificate in Building Structural Draughtsmanship from the MARA Institute in 1979 and subsequently obtained a Diploma in Business Administration from the Institute of Business Administration and Management. He has been involved in the construction industry for more than 20 years. He was a project Manager of Gurun Corporation Sdn. Bhd. from 1990 to 1992 and a Director/ Treasurer of Koperasi Pembangunan Daerah Seberang Prai Utara Bhd. from 1994 to 1997. He was appointed as a Councillor to Majilis Perbandaran Seberang Perai from 1989 to 1990. He had attended several intensive courses and seminars on construction management to keep abreast with the latest developments in the industry. Encik Mardzukhi Bin Abu Bakar is a member of the Corporate Governance Committee of the Company. He does not hold any other directorships in public companies. Encik Mardzukhi Bin Abu Bakar is not related to any other Director and/or major shareholder of the Company. He has no conflict of interest with the Company and has not been convicted of any offences within the past ten years. Dato Mohd. Shariff Bin Ibrahim Alternate Director to Encik Mardzukhi Bin Abu Bakar, aged 59, Malaysian Dato Mohd. Shariff Bin Ibrahim was appointed as the Alternate Director to Encik Mardzukhi Bin Abu Bakar on 30 March 2001. He completed his high school education and has more than 10 years of experience in property development while holding the position as Managing Director in Barisan Teguh Sdn. Bhd. and Lapangan Perumahan Sdn. Bhd. He is also the Executive Chairman of Pembinaan Kasporat Sdn. Bhd. which is a registered Class B contractor with PKK and a Grade 7 contractor with CIDB. He is active in the socio-political circle where he sits in various committees. Dato Mohd. Shariff Bin Ibrahim does not hold any other directorships in public companies. Dato Mohd. Shariff Bin Ibrahim is not related to any Director and/or major shareholder of the Company. He has no conflict of interest with the Company and has not been convicted of any offences within the past ten years. 07
Director s Profile Madam Ong Guat Beng Executive Director, aged 45, Malaysian Madam Ong Guat Beng was appointed as an Executive Director of the Company on 11 October 1997. She completed her high school education in 1976 and joined PLB-KH Bina Sdn. Bhd. ( PKH ) in 1977 to assist Dato Ong Choo Hoon to oversee the overall operation of PKH. She has over 20 years of working experience in purchasing, accounting and office administration. Subsequently, she was specially assigned to oversee the Finance, Human Resources and Administration departments. Currently, she oversees the Procurement and Internal Audit Divisions of the Company. Madam Ong Guat Beng also assists the Group Executive Chairman and Group Managing Director in the overall operations and management of the Company especially on site management, financial management, human resources management and etc. Madam Ong Guat Beng is a member of the Audit Committee, Risk Management Committee and Corporate Governance Committee of the Company. She is also a Chairperson of the ESOS Committee of the Company. Madam Ong does not hold any other directorships in public companies. Madam Ong Guat Beng is the daughter of Dato Ong Choo Hoon and the sister of Dato Dr. Ong Seng Soon and Mr. Ong Seng Chye. She is a director and shareholder of Leading Builders Sdn. Bhd., which is a major shareholder of the Company. She has no conflict of interest with the Company and has no convictions for offences within the past ten years. Mr. Ong Seng Chye Executive Director, aged 36, Malaysian Mr. Ong Seng Chye was appointed as an Executive Director of the Company on 11 October 1997. He completed his high school education in 1985 and joined PLB-KH Bina Sdn. Bhd. in 1987 to assume the responsibility for plant and machinery scheduling, security maintenance, site management and logistics. Currently, he oversees the manufacturing operations of the PLB Group and represents the PLB Group by being actively involved in the public and social responsibilities of the PLB Group. Mr. Ong has attended numerous seminars to supplement his on-the-job experience. Mr. Ong Seng Chye is a member of the Risk Management Committee of the Company. He does not hold any other directorships in public companies. Mr. Ong Seng Chye is the son of Dato Ong Choo Hoon and the brother of Dato Dr. Ong Seng Soon and Madam Ong Guat Beng. He is a director and shareholder of Leading Builders Sdn. Bhd., which is a major shareholder of the Company. He has no conflict of interest with the Company and has no convictions for offences within the past ten years. 08
Director s Profile Mr. Saw Chin Eng Independent Non-Executive Director, aged 46, Malaysian Mr. Saw Chin Eng was appointed as an Independent Non-Executive Director of the Company on 30 May 2001. He obtained his Bachelor of Commerce degree from University of Otago, New Zealand in 1981. He started his career as an Audit Assistant in an accounting firm. He was later promoted to a position of an Audit Manager in charge of a wide portfolio of clients. A Chartered Accountant by profession, Mr. Saw is a member of the New Zealand College of Chartered Accountants and also a Chartered Accountant with the Malaysian Institute of Accountants as well as a fellow member of the Malaysian Institute of Taxation and qualified as a Certified Financial Planner (CFP) in 2002. Currently, he is practicing under Messrs. Saw & Co., a member firm of the Malaysian Institute of Accountants. Mr. Saw Chin Eng is the Chairman of the Audit Committee and a member of the Remuneration and Nomination Committee of the Company. Mr Saw does not hold any other directorships in public companies. Mr. Saw Chin Eng is not related to any Director and/or major shareholder of the Company. He has no conflict of interest with the Company and has no convictions for offences within the past ten years. Dato Noordin Bin Md. Noor Independent Non-Executive Director, aged 46, Malaysian Dato Noordin Bin Md. Noor was appointed as an Independent Non-Executive Director of the Company on 11 October, 1997. He obtained his Diploma in Business Studies from the Institute of Technology MARA in 1976. He has 16 years of experience in business, construction industry and many years of experience in the service, IT, manufacturing (rubber based products, food and fisheries) and transport industry. Dato Noordin has been actively involved in the Nation s political scene since 1976. He has held various positions in UMNO Malaysia at the Division, State and National level such as Exco Pemuda UMNO Malaysia (1993-2000), Timbalan Pengerusi Biro Pendidikan Pemuda UMNO Malaysia (1993-1996), Pengerusi Majlis Pembangunan Usahawan Pemuda UMNO Malaysia (1996-1998), Pengerusi Majlis Ekonomi dan Pembangunan Usahawan Pemuda UMNO Malaysia (1998-2000) and Ahli Jawatankuasa Pengurusan dan Pentadbiran Pergerakan Pemuda UMNO Malaysia. Currently, he is the Executive Chairman of Alunan Persada Sdn. Bhd., an Information Technology company, Director of Pro Futures Sdn Bhd and Chairman of Utas Perdana. Dato Noordin Bin Md. Noor is a member of the Audit Committee and Chairman of the Nomination Committee of the Company and does not hold any other directorships in public companies. Dato Noordin Bin Md. Noor is not related to any Director and/or major shareholder of the Company. He has no conflict of interest with the Company and has not been convicted of any offences within the past ten years. 09