Annual Report2003 - mmc.com.my

1 Annual Report2003 MALAYSIA MINING corporation BERHAD30245-HIncorporated in Malaysia / Diperbadankan di Malaysia1 Maklumat Penting Kewangan2 Maklumat Korporat4 Profil Lembaga Pengarah10 Kumpulan Pengurusan Syarikat12 Penyata Pengerusi24 Perbincangan dan Analisis Pengurusan44 Sorotan Penting Tahun47 Kalendar Peristiwa Penting52 Laporan Jawatankuasa Audit59 Penyata Tadbir Urus Korporat68 Penyata Kawalan Dalaman74 Maklumat Pematuhan Tambahan76 Statistik Pegangan Saham79 Senarai Hartanah151 Penyata Kewangan221 Notis Mesyuarat Agung Tahunan227 Penyata yang Disertakan Bersama Notis Mesyuarat Agung TahunanBorang Proksi1 Financial Highlights2 Corporate Information4 Profile of Directors10 Management Team12 Chairman s Statement24 Management s Discussion and Analysis44 Highlights of the Year47 Calendar of Events52 Audit Committee Report59 Statement of Corporate Governance68 Internal Control Statement74 Additional Compliance Information76 Shareholding Statistics79 List of Properties85 Financial Statements219 Notice of Annual General Meeting223 Statement AccompanyingNotice of Annual General MeetingProxy FormCONTENTS kandunganHIGHLIGHTSFINANCIAL[ maklumat penting kewangan ]

2 EBITDA/ EBIT010299000328557246369673484787112 PROFITBEFORETAX/ KEUNTUNGANSEBELUMCUKAI010299000322210424 9469228 REVENUE/HASIL0102990003730674703847618 MALAYSIA MINING corporation BERHAD120032002200120001999 Profit before sebelum cukai Profit after tax and minority selepas cukai dan kepentingan minoritiProfit attributable to yang boleh diagihkan kepada pemegang sahamGross assets / Aset kasar6, , , , , funds / Dana pemegang , , , , value of quoted investments1, , , , , pasaran pelaburan disebut hargaPre-tax return on shareholders funds (%) sebelum cukai daripada dana pemegang saham (%)Earnings per share (sen) / Pendapatan sesaham (sen) dividend per share (sen) / Dividen bersih sesaham (sen) asset per share (sen) / Aset bersih sesaham (sen) (RM in millions / RM dalam juta)

3 VISIONSTATEMENT[ penyata wawasan ]Diiktiraf sebagai Kumpulan Infrastruktur, Utiliti dan Kejuruteraan yang unggulTo be recognisedas a premierInfrastructure, Utilities & Engineering GroupSTRATEGIC OBJECTIVES[ objektif strategik ]Maximise shareholder valueMemaksimumkan nilai pemegang sahamPractise good corporate governance and uphold ethics and valuesMengamalkan tadbir urus korporat yang baik serta berpegang teguh kepada etika dan nilaiExceed customer expectations and gain customers and partners respect and loyaltyMelepasi jangkaan pelanggan dan meraih penghormatan dan kesetiaan pelanggan serta rakan kongsi Strengthen MMC into an innovative and dynamic groupMengukuhkan MMC menjadi kumpulan yang inovatif dan dinamikBe the preferred employer providing challenging career opportunitiesMenjadi majikan terpilih yang menawarkan peluang karier yang mencabarMALAYSIA MINING corporation BERHAD2 SecretariesSetiausaha-SetiausahaElina MohamedMuhammad Firdaus AbdullahRegistered OfficePejabat

4 Berdaftar10th Floor, Block BWisma Semantan, No. 12 Jalan Gelenggang, Bukit Damansara50490 Kuala LumpurTel: +603 2092 5588 Facsimile: +603 2093 9917E-mail: RegistrarPendaftar SahamPernas Charter Management Sdn Bhd10th Floor, Block BWisma SemantanNo. 12, Jalan GelenggangBukit Damansara50490 Kuala LumpurAuditorsJuruauditPricewaterhouseCo opersChartered AccountantsAkauntan BertauliahPrincipal BankerBank UtamaBumiputra-Commerce Bank BerhadStock Exchange ListingPenyenaraian Bursa SahamMain Board Kuala Lumpur Stock Exchange Papan Utama Bursa Saham Kuala LumpurINFORMATIONCORPORATE[ maklumat korporat ]BOARD OF DIRECTORSLEMBAGA PENGARAH Dato Syed Abdul Jabbar Shahabudin Dato Ismail Shahudin Tan Sri Dato Thong Yaw Hong Tan Sri Dato Dr. Abdul Khalid bin Sahan Tan Sri Dato Ir.

5 (Dr.) Wan Abdul Rahman bin Haji Wan Yaacob Dato Hilmi bin Mohd. Noor Dato Abdullah bin Mohd. Yusof Datuk Ir. (Dr.) Haji Ahmad Zaidee bin Laidin Encik Halim bin Haji Din Datuk Mohd. Sidik bin Shaik OsmanKami akan memaksimumkan nilai pemegang saham denganmempertingkatkan pertumbuhan bidang-bidang perniagaan teras kamiMAXIMISE SHAREHOLDER VALUEWE WILL by accelerating the growth of our core businessesMALAYSIA MINING corporation DIRECTORS[ profil lembaga pengarah ]1. Dato Syed Abdul Jabbar ShahabudinA former Executive Chairman of the MalaysiaMonetary Exchange from 1996 to 1998,Commodity and Monetary Exchange of Malaysiafrom 1998 to June 2000 and Chief ExecutiveOfficer of the Kuala Lumpur Commodity Exchangefrom 1980 to 1996, Dato' Syed Abdul JabbarShahabudin, 64, was appointed as non-independent, non-executive Chairman of theCompany on 7 July 2000.

6 Dato Syed Abdul JabbarShahabudin is also the Chairman of theNomination, Remuneration and ExecutiveCommittees of the ' Syed Abdul Jabbar Shahabudin is a Malaysiancitizen and holds a Bachelor of Economics degreeand a Master of Science degree in ' Syed Abdul Jabbar Shahabudin is also aBoard member of Star Publications berhad andMalaysia Smelting corporation Syed Abdul Jabbar Shahabudin, 64 tahun,yang dilantik sebagai Pengerusi bukan bebas,bukan eksekutif Syarikat pada 7 Julai 2000 adalahbekas Pengerusi Eksekutif Bursa KewanganMalaysia dari tahun 1996 hingga 1998, BursaKomoditi dan Kewangan Malaysia dari tahun 1998hingga Jun 2000 dan Ketua Pegawai EksekutifBursa Komoditi Kuala Lumpur dari tahun 1980hingga 1996. Dato Syed Abdul JabbarShahabudin juga merupakan PengerusiJawatankuasa Pencalonan, Imbuhan danEksekutif Lembaga Syed Abdul Jabbar Shahabudin adalahwarganegara Malaysia dan berkelulusan ijazahSarjana Muda Ekonomi dan ijazah Sarjana Sainsdalam jurusan Pemasaran.

7 Dato' Syed Abdul Jabbar Shahabudin juga adalahseorang ahli Lembaga Pengarah Star PublicationsBerhad dan Malaysia Smelting corporation Dato Ismail ShahudinDato Ismail Shahudin, 52, a Malaysian, wasappointed Group Chief Executive of Malaysia MiningCorporation berhad on 1 August 2002 and is amember of the Executive Committee of the holds a Bachelor of Economics (Hons.) degreefrom University of Malaya, Malaysia, majoring inBusiness Administration. Upon his graduation in1974, he joined ESSO Malaysia berhad and servedfor five (5) years within its Finance MINING corporation BERHAD5 Thereafter, he joined Citibank Malaysia in 1979 andserved at the Bank s HQ in New York in 1984 aspart of the team in the Asia Pacific Division. Uponhis return to Malaysia in 1986, he was promoted tothe position of Vice President & Group Head ofPublic Sector and Financial Institutions Group inCitibank Malaysia.

8 In 1988 he served United AsianBank berhad (UAB) as its Deputy General Manageruntil 1992 when UAB was taken over by Bank ofCommerce. Subsequently, he joined Maybank as itsGeneral Manager, Corporate Banking Division. InSeptember 1997, he was appointed as theExecutive Director of Maybank. He left Maybank inJuly 2002 to assume his current post as GroupChief Ismail also sits on the Boards of MMCE ngineering Group berhad , Berjuntai Tin DredgingBerhad, Kramat Tin Dredging berhad , MalaysiaSmelting corporation berhad and Malakoff Ismail Shahudin, 52 tahun dan seorangwarganegara Malaysia, telah dilantik sebagaiKetua Eksekutif Kumpulan Malaysia MiningCorporation berhad pada 1 Ogos 2002 danadalah seorang ahli Jawatankuasa EksekutifLembaga Pengarah. Beliau berkelulusan ijazahSarjana Muda Ekonomi (Kepujian) dari UniversitiMalaya, Malaysia dengan pengkhususan dalamjurusan Pentadbiran Perniagaan.

9 Selepasmenamatkan pengajian pada tahun 1974, beliaumenyertai ESSO Malaysia berhad dan berkhidmatselama lima (5) tahun dalam BahagianKewangan. Selepas itu, beliau menyertai CitibankMalaysia pada tahun 1979 dan berkhidmat di ibupejabat Bank di New York pada tahun 1984sebagai sebahagian daripada pasukan bagiBahagian Asia Pasifik. Selepas kembali keMalaysia pada tahun 1986, beliau dinaikkanpangkat ke jawatan Naib Presiden dan KetuaKumpulan Sektor Awam dan Kumpulan InstitusiKewangan di Citibank Malaysia. Pada tahun 1988beliau berkhidmat dengan United Asian BankBerhad (UAB) sebagai Timbalan Pengurus Besarhingga tahun 1992 apabila UAB diambil alih olehBank of Commerce. Selepas itu, beliau menyertaiMaybank sebagai Pengurus Besar, BahagianPerbankan Korporat. Pada bulan September 1997,beliau dilantik sebagai Pengarah EksekutifMaybank.

10 Beliau meninggalkan Maybank padabulan Julai 2002 untuk memegang jawatan kinisebagai Ketua Eksekutif MINING corporation BERHAD6 Dato Ismail juga menganggotaiLembaga Pengarah MMC EngineeringGroup berhad , Berjuntai Tin DredgingBerhad, Kramat Tin Dredging berhad ,Malaysia Smelting CorporationBerhad dan Malakoff Tan Sri Dato Thong Yaw HongA former Secretary General of theMinistry of Finance and DirectorGeneral of the Economic PlanningUnit, Prime Minister s Department,Tan Sri Dato' Thong Yaw Hong, 73,joined the Board on 27 October 1986and is an independent, non-executiveDirector. He is also a member of theAudit, Nomination and RemunerationCommittees and the SeniorIndependent Director of the Sri Dato' Thong Yaw Hong iscurrently the Co-Chairman of PublicBank berhad and the Public BankGroup of companies.