GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X 02

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

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

ANNUAL REPORT 2004 03

0

15

30

45

60

75

90

-90

-60

-30

0

30

60

90

financial statistics

ANNUAL REPORT 2004 03

Group Profit/(Loss) Before Taxation RM Million

Group Earnings Excluding Exceptional Items RM Million

29.2

(46.4)

20.4

53.0

3.6

13.8

-90

-60

-30

0

30

60

90

Group Earnings/(Loss) RM Million

33.4 40.1

53.0

(42.5)

13.8 21.4 24.2

0

100

200

300

400

500

600

Shareholders’ Funds RM Million

21.4 24.2

438 401 414

342 362

GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X 04

corporate

information

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

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

ANNUAL REPORT 2004 05

GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X 06

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”].

profile of board of directors

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.

Md. Yusof bin Hussin

Independent Non-Executive Director

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.

Yaw Chee Ming

Non-Independent 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 wood-

based processing and property development.

ANNUAL REPORT 2004 07

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

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.

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.

GLENEALY PLANTATIONS (MALAYA) BERHAD 3453-X 08

group corporate

structure

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%

as at 30 September 2004

(formerly known as Amalasal (M) Sdn Bhd) MG BIOGREEN SDN BHD

ANNUAL REPORT 2004 9