52 YTL CORPORATION BERHAD 05 CORPORATE EVENTS
24.11.2004
Signing Ceremony for USD250 Million Syndicated Credit Facility
YTL Power International Berhad's USD250 Million Syndicated Credit Facility was arranged by Dredsner Kleinwort Wassterstein.
From left: Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, YTL Corp Managing Director, and Clive Kerner, Director, Head of Power & Energy, Asia Pacific, Dresdner Bank AG.
10.12.2004
Completion Ceremony for the Acquisition of 35% of PT Jawa Power
YTL Power International Berhad completed the acquisition of a 35% stake in PT Jawa Power, the second largest independent power producer in Indonesia with a generating capacity of 1,220 MW.
From left, Ralf Lucht, former President Director of PT Jawa Power; Colin Scoins, Head of Asian Asset Management of E.ON UK; Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Managing Director of YTL Corp; Jongkie Sugiarto, President Director of PT Bumipertiwi Tatapradipta; and Dato' Yeoh Seok Hong, Executive Director of YTL Corp.
09.02.2005
Chinese New Year Celebrations
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, Executive Chairman of YTL Corp, and Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Managing Director of YTL Corp, hosted YTL's annual Chinese New Year Open House at the JW Marriott Hotel Kuala Lumpur.
From left: Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, His Majesty Yang Di–Pertuan Agong Tuanku Syed Sirajuddin ibni Almarhum Tuanku Syed Putra Jamalullail and Tan Sri Dato' (Dr) Francis Yeoh Sock Ping
From left, Prime Minister of Malaysia, Y.A.B. Dato' Seri Abdullah bin Haji Ahmad Badawi, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and Y.B. Dato' Seri Ong Ka Ting, Minister for Housing and Local Government.
14.03.2005
YTL & GEMS Host Conference for Foreign Investors
YTL co–hosted a conference for foreign investors with Hong Kong–based private equity fund management group General Enterprise Management Services Limited (GEMS) at Pangkor Laut Resort to promote Malaysia as an investment destination.
GEMS Executive Chairman Simon Murray greets Prime Minister of Malaysia, Y.A.B. Dato' Seri Abdullah bin Haji Ahmad Badawi, with YTL Corp Managing Director Tan Sri (Dato') Francis Yeoh Sock Ping and GEMS Funds Advisory Council Chairman Lord Charles Powell of Bayswater. 53 CORPORATE EVENTS YTL CORPORATION BERHAD 05
18.03.2005
Malaysian Grand Prix Ice Gala 2005
YTL continued its support for the Malaysian Grand Prix by participating as a sponsor for the Petronas Malaysian Grand Prix Ice Gala 2005 which included a charity auction to raise funds for victims of the tsunami that devastated the Asian region earlier in the year.
From left: Michael Shumacher, Lorrain Hahn, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and Rubens Barrichello.
22.03.2005
Invest Malaysia 2005 Conference
YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping hosted a dinner at Shook! at Starhill Gallery for former Prime Minister of Britain, John Major. Both men were speakers at the Invest Malaysia 2005 conference organised by Bursa Malaysia Berhad, Commerce International Merchant Bankers Bhd and Credit Suisse First Boston.
10.05.2005
Starhill Gallery – The Global Fine Watch Retailer
YTL unveiled the new fine watch retail space at Starhill Gallery, featuring 70 luxury brands and spanning 20,000 sq.ft. on the Indulge floor of Starhill Gallery.
From left, Dato' Francis Sew, Managing Director of Swiss Union Fine Watch Sdn Bhd; Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, YTL Corp Managing Director; and Jeremy Lim, Regional General Manager of Cortina Watch, at the press conference.
12.05.2005
Closing Dinner for the USD250 Million Zero Coupon Guaranteed Exchangeable Bonds
The USD250,000,000 Zero Coupon Guaranteed Exchangeable Bonds due 2010 were issued on 9 May 2005 by YTL Power Finance (Cayman) Limited and guaranteed by YTL Power International Berhad. UBS AG and Commerce International Merchant Bankers Berhad (CIMB) were co–lead arrangers for the issuance.
From left: Lee Wee Tat, Associate Director, UBS AG; Ho Say Keng, YTL Corp Group Company Secretary; Lorenz Chenaux–Repond, Executive Director, Head of Power–Asia, UBS AG; Matthew Koder, Managing Director, Head of Equity Capital Markets, Asia, UBS AG; Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, YTL Corp Managing Director; Dato' Nazir Razak, Chief Executive Officer, CIMB; Dato' Yeoh Seok Hong, YTL Corp Executive Director; Patrick Lee, Executive Director, Head, Singapore/Malaysia Investment Banking, UBS AG; Datin Kathleen Chew Wai Lin, YTL Corp Group Legal Adviser; and Peter Guenthardt, Director, Equity Capital Markets, Head of Asian Equity–Linked Origination, UBS AG.
20.06.2005
Listing of Infoscreen Networks Plc
YTL e–Solutions Berhad listed its UK subsidiary, Infoscreen Networks Plc (INP) on the Alternative Investment Market (AIM) of the London Stock Exchange. INP's subsidiary, YTL Info Screen Sdn Bhd, is involved in digital content design, development and delivery solutions in Malaysia.
“Quality and good taste have often been sacrificed to mere size and the visible manifestation of proclaimed wealth, without real depth of meaning or joy of creation. Here [at Pangkor Laut] we have God's canvas, 2 million years old … we have but contributed a little embroidery to His beautiful canvas.”
– Tan Sri Dato' (Dr) Francis Yeoh Sock Ping Concert of Celebration at Pangkor Laut Resort 24 March 1994 56 YTL CORPORATION BERHAD 05 CORPORATE EVENTS
05.07.2005
World's Largest Jaeger Le–Coultre Boutique at Starhill Gallery
Jaeger Le–Coultre, the legendary Swiss watchmaker founded in 1833, officially launched its new concept boutique in Kuala Lumpur at Starhill Gallery. The boutique is Jaeger Le–Coultre's largest in the world and is managed by Swiss Union Fine Watch Sdn Bhd,
From left: Jerome Lambert, Chief Executive Officer of Jaeger Le–Coultre; Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Managing Director of YTL Corp; and Dato' Francis Sew, Managing Director of Swiss Union Fine Watch Sdn Bhd.
30.07.2005
Grand Opening of Starhill Gallery
On 30 July 2005, Starhill Gallery occupying over 250,000 sq ft, revealed a spectacular new identity as an iconic landmark for Kuala Lumpur. The newly repositioned Starhill Gallery is a celebration of the latest and best from international fashion, art, beauty, food and living.
The ribbon–cutting ceremony officiated by (from left) YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, guest–of–honour, Mayor of Kuala Lumpur, Datuk Ruslin Hasan, and YTL Corp Executive Chairman Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay.
11.08.2005
Malaysian Business Corporate Governance Award 2004
YTL Cement Berhad received a Merit Award at the Malaysian Business Corporate Governance Award 2004 ceremony held at the Hilton Hotel in Kuala Lumpur and officiated by Y.B. Dato' Mustapa Mohamed, Minister in the Prime Minister's Department.
Representatives of the YTL Cement Berhad Group at the awards ceremony (from left) Patrick Loh Se San, Director of Operations; N. Mahinder Singh, Director of Sales (Cement Imports & Exports); Joseph Benjamin Seaton, Executive Director; Dato’ Yeoh Soo Keng, Executive Director; Kong Yoke Thiam, Technical Director (Cement); and Kamaruzzaman Bin Abdol, General Manager (Marketing).
31.08.2005
Launch of Studio in the City
YTL Land Sdn Bhd, a wholly–owned subsidiary of YTL Corp, and ntv7 entered into a partnership to establish Studio in the City (SITC). Strategically located in the prestigious Starhill Gallery, SITC will facilitate ntv7's coverage of international fashion, art, beauty, food and living in the heart of Kuala Lumpur, as well as provide an ideal location for interviews with high profile guests and on–site live reports.
From left: YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and ntv7 Chief Executive Officer Dato' Shazalli Ramly exchange documents at the signing ceremony.
01.09.2005
Official Opening of The Residences at The Ritz–Carlton, Kuala Lumpur
The Residences at The Ritz–Carlton, Kuala Lumpur were officially opened by His Majesty Yang Di–Pertuan Agong Tuanku Syed Sirajuddin ibni Almarhum Tuanku Syed Putra Jamalullail and Her Majesty Raja Permaisuri Agong Tuanku Fauziah.
From right: His Majesty Yang Di–Pertuan Agong Tuanku Syed Sirajuddin ibni Almarhum Tuanku Syed Putra Jamalullail unveils the commemorative plaque, witnessed by YTL Corp Executive Chairman Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay. 57 CORPORATE EVENTS YTL CORPORATION BERHAD 05
10.10.2005
Courtesy Visit from Mitsubishi & Nomura
The Group was pleased to host a visit from UBE–Mitsubishi Cement Corporation and Nomura Trading Co. Ltd., both based in Japan.
From left: Dato' Michael Yeoh Sock Siong, YTL Corp Executive Director; Mr Akitomo Ono, General Manager of UBE–Mitsubishi Cement Corporation; Mr Sakae Mori, President of UBE–Mitsubishi Cement Corporation; Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, YTL Corp Managing Director; Mr Y. Morio, Executive Director of Nomura Trading Co. Ltd.; and Dato’ Yeoh Soo Keng, YTL Corp Executive Director.
ARTS & CULTURE 06.12.2004
YTL participated as a sponsor of the National Art Gallery's exhibition by Sophia Vari, one of Greece's most prominent and successful international artists.
From left: YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and his wife Puan Sri Dato' Paduka Rosaline Chan Yee Hing hosted a luncheon for Sophia Vari and her husband Fernando Botero.
14.05.2005
The late Y.A.B. Datin Paduka Seri Endon Mahmood, the Chairperson of Yayasan Budi Penyayang Malaysia, played a pivotal role in bringing the collaborating parties together and paid a site visit to the new Kuala Lumpur Performing Arts Centre (KLPAC) upon completion of the complex. KLPAC is a collaboration between Yayasan Budi Penyayang Malaysia, YTL Corp and The Actors Studio.
From left: Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, the late Y.A.B. Datin Paduka Seri Endon Mahmood and Joe Hasham of The Actors Studio.
Left: The Kuala Lumpur Performing Arts Centre, situated within YTL Corp's up–market Sentul West development.
“ …in a developed society, the arts have a role to play. It is in the arts that the hopes, aspirations, joy and pain of Malaysians are expressed and recorded for posterity. It is where our values – a vital part of our social fabric – are portrayed and represented in literature, poetry, plays, dance, music, art and films.”
– Tan Sri Dato' (Dr) Francis Yeoh Sock Ping Launch of the Kuala Lumpur Performing Arts Centre 21 May 2004 60 YTL CORPORATION BERHAD 05 CORPORATE EVENTS
EDUCATION & COMMUNITY 02.10.2004
Assunta Hospital
YTL Cement Berhad made a donation to Assunta Hospital on the occasion of the hospital's Golden Jubilee.
YTL Cement Berhad's Vice Chairman, Tan Sri Datuk Asmat Bin Kamaludin (far right), at the presentation ceremony.
06.10.2004
The Glittering Show 2004
YTL was one of the sponsors of The Glittering Show 2004, Breast Cancer Care's annual fundraiser at The Grosvenor House Hotel in London. The event raised over £1 million for the charity.
From right, Puan Sri Dato' Paduka Rosaline Chan Yee Hing, Cherie Blair, Patron of Breast Cancer Care, the late Y.A.B. Datin Paduka Seri Endon Mahmood and her daughter–in–law, Azrene Abdullah.
08.12.2004
Indonesian Red Cross
YTL Power International Berhad contributed to the Indonesian Red Cross to assist with its various humanitarian programmes for Indonesian migrant workers returning home under the amnesty granted by the Government of Malaysia.
From left, Thomas Ho, Finance Director of YTL Power's 35% Indonesian associate, PT Jawa Power, presents YTL's donation to Bapak Mar'ie Muhammad, Chairman of the Indonesian Red Cross, witnessed by Y.A.B. Dato' Sri Mohd. Najib bin Tun Haji Abdul Razak, Deputy Prime Minister of Malaysia, and Indonesian Vice President Bapak Jusuf Kalla.
From left: YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, who led the YTL delegation, during an audience with Dr. Susilo Bambang Yudhoyono, President of Indonesia. 61 CORPORATE EVENTS YTL CORPORATION BERHAD 05
01.08.2005
'Feast with Pride'
A fundraiser for Pink Ribbon Deeds (Pride) was hosted at Starhill Gallery's Feast Village to increase awareness and raise funds to support breast cancer survivors and improve standards of diagnosis, treatment and care of breast cancer patients in Malaysia.
YTL Corp Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and Pride Chairperson Azrene Abdullah on stage for the cheque presentation.
09.09.2005
YTL Corp Executive Chairman Receives Pro–Chancellorship
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, Executive Chairman of YTL Corp, was installed as Pro–Chancellor for Universiti Malaysia Sabah (UMS) by the Governor of Sabah, Tun Haji Ahmadshah Abdullah, at the state palace in Kota Kinabalu, Sabah.
Above from left: Prof. Dr. Adam Bakar, former Director of UMS Foundation; Datuk Henry Chin Poh Yu, Director, UMS Board of Directors; Tan Sri Abdul Hamid, Chaiman, UMS Board of Directors; Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, YTL Corp Executive Chairman; and Datuk KY Mustafa, Sabah State Secretary.
22.10.2005
Opening of the Puan Sri Datin Seri Tan Kai Yong Building at SJK (C) Jalan Davidson
YTL Corp Executive Chairman Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay and his wife Puan Sri Datin Seri Tan Kai Yong @ Tan Kay Neong at the unveiling ceremony for the school building sponsored by them and named in honour of Puan Sri Datin Seri Tan Kai Yong at SJK (C) Jalan Davidson.
“ The formula to making a great school does not change… it is all in the students' mindsets and their parents'. Students should set a goal for themselves, to excel in whatever they do. Besides that, parents should encourage their children to acquire extra knowledge and not just to do well academically. It [is] our responsibility not to drop this baton.”
– Tan Sri Dato' (Dr) Francis Yeoh Sock Ping in an interview with his alma mater, Victoria Institute in 2002 64 YTL CORPORATION BERHAD 05 NOTICE OF ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN THAT THE TWENTY–SECOND ANNUAL GENERAL MEETING OF YTL CORPORATION BERHAD WILL BE HELD AT STARHILL 2, LEVEL 4, JW MARRIOTT HOTEL KUALA LUMPUR, 183 JALAN BUKIT BINTANG, 55100 KUALA LUMPUR ON THURSDAY, THE 8TH DAY OF DECEMBER, 2005 AT 3.00 P.M. TO TRANSACT THE FOLLOWING BUSINESS:
AS ORDINARY BUSINESS 6 To re–appoint the Auditors and to authorise the Directors to fix their remuneration. Resolution 11 1 To receive the Audited Financial Statements for the financial year ended 30 June 2005 together with the Reports of the Directors and Auditors AS SPECIAL BUSINESS thereon; Resolution 1 To consider and, if thought fit, pass the following resolutions: 2 To sanction the declaration of a First and Final Dividend of 15% gross less Malaysian Income Tax in respect of the financial year ended 30 June ORDINARY RESOLUTION 1 2005; Resolution 2 7 PROPOSED AUTHORITY TO ALLOT SHARES 3 To re–elect the following Directors who retire PURSUANT TO SECTION 132D OF THE pursuant to Article 84 of the Company's Articles COMPANIES ACT, 1965 of Association: i Dato' Yeoh Soo Min Resolution 3 “THAT pursuant to Section 132D of the ii Dato' Yeoh Seok Hong Resolution 4 Companies Act, 1965, the Directors be and are iii Syed Abdullah Bin Syed hereby empowered to allot and issue shares in Abd. Kadir Resolution 5 the Company at any time until the conclusion of the next Annual General Meeting and upon such 4 To re–appoint the following Directors who retire terms and conditions and for such purposes as pursuant to Section 129(6) of the Companies Act, the Directors may, in their absolute discretion, 1965 and to hold office until the next Annual deem fit provided that the aggregate number of General Meeting: shares to be issued does not exceed ten per centum (10%) of the issued and paid–up share i Tan Sri Dato' Seri (Dr) capital of the Company for the time being and that Yeoh Tiong Lay Resolution 6 the Directors be and are also empowered to ii Dato' (Dr) Yahya Bin Ismail Resolution 7 obtain the approval for the listing of and quotation iii Mej Jen (B) Dato' Haron for the additional shares so issued on Bursa Bin Mohd Taib Resolution 8 Malaysia Securities Berhad.” Resolution 12 iv Eu Peng Meng @ Leslie Eu Resolution 9
5 To approve the payment of Directors' fees amounting to RM260,000.00 for the financial year ended 30 June 2005; Resolution 10 65 NOTICE OF ANNUAL GENERAL MEETING YTL CORPORATION BERHAD 05
ORDINARY RESOLUTION 2 ii The maximum amount of funds to be allocated by the Company pursuant to the 8 PROPOSED RENEWAL OF SHARE BUY–BACK Proposed Share Buy–Back shall not exceed AUTHORITY the sum of Retained Profits and the Share Premium Account of the Company based on “THAT subject to the Company's compliance with its latest audited financial statements all applicable rules, regulations, orders and available up to the date of a transaction guidelines made pursuant to the Companies Act, pursuant to the Proposed Share Buy–Back. 1965, the provisions of the Company's As at 30 June 2005, the audited Retained Memorandum and Articles of Association and the Profits and Share Premium Account of the Listing Requirements of Bursa Malaysia Company were RM2,126,489,167.00 and Securities Berhad (“Bursa Securities”) and the RM290,759,325.00 respectively; and approvals of all relevant authorities, the Company be and is hereby authorised, to the fullest extent iii The shares purchased by the Company permitted by law, to buy–back and/or hold from pursuant to the Proposed Share Buy–Back time to time and at any time such amount of may be dealt with by the Directors in all or ordinary shares of RM0.50 each in the Company any of the following: as may be determined by the Directors of the Company from time to time through Bursa a the shares so purchased may be Securities upon such terms and conditions as the cancelled; and/or Directors may deem fit and expedient in the interests of the Company (“the Proposed Share b the shares so purchased may be retained Buy–Back”) provided that: in treasury for distribution as dividend to the shareholders and/or resold on the i The maximum number of shares which may market of Bursa Securites and/or be purchased and/or held by the Company at subsequently cancelled; and/or any point of time pursuant to the Proposed Share Buy–Back shall not exceed ten per c part of the shares so purchased may be centum (10%) of the total issued and paid–up retained as treasury shares with the share capital of the Company for the time remainder being cancelled. being quoted on Bursa Securities provided always that in the event that the Company AND THAT such authority shall commence upon the ceases to hold all or any part of such shares passing of this resolution, until the conclusion of the as a result of, amongst others, cancellation of next Annual General Meeting of the Company or the shares, sale of shares on the market of Bursa expiry of the period within which the next Annual Securities or distribution of treasury shares to General Meeting is required by law to be held unless shareholders as dividend in respect of shares revoked or varied by Ordinary Resolution of the bought back under the previous shareholders' shareholders of the Company in general meeting but mandate for share buy–back which was so as not to prejudice the completion of a purchase obtained at the Annual General Meeting held made before such expiry date; on 9 December 2004, the Company shall be entitled to further purchase and/or hold such additional number of shares as shall (in aggregate with the shares then still held by the Company) not exceed ten per centum (10%) of the total issued and paid–up share capital of the Company for the time being quoted on Bursa Securities; 66 YTL CORPORATION BERHAD 05 NOTICE OF ANNUAL GENERAL MEETING
AND THAT the Directors of the Company be and are ii disclosure is made in the annual report of the hereby authorised to take all steps as are necessary aggregate value of transactions conducted or expedient to implement or to give effect to the pursuant to the shareholders' mandate Proposed Share Buy–Back with full powers to amend together with a breakdown of the aggregate and/or assent to any conditions, modifications, value of the transactions during the financial variations or amendments (if any) as may be imposed year based on the type of transactions, names by the relevant governmental/regulatory authorities of the Related Parties and their relationship. from time to time and with full power to do all such acts and things thereafter in accordance with the THAT the mandate given by the shareholders of the Companies Act, 1965, the provisions of the Company shall only continue to be in force until the Company's Memorandum and Articles of Association conclusion of the next Annual General Meeting of the and the Listing Requirements of Bursa Securities and Company or the expiry of the period within which the all other relevant governmental/regulatory next Annual General Meeting is required to be held authorities.” Resolution 13 pursuant to section 143(1) of the Companies Act, 1965 (the “Act”) (but shall not extend to such extension as may be allowed pursuant to section 143(2) of the Act); ORDINARY RESOLUTION 3 unless revoked or varied by Ordinary Resolution of the shareholders of the Company in general meeting, 9 PROPOSED RENEWAL OF SHAREHOLDERS' whichever is the earlier; MANDATE AND NEW SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY AND THAT the Directors of the Company be TRANSACTIONS OF A REVENUE OR TRADING authorised to complete and do such acts and things NATURE as they may consider expedient or necessary to give full effect to the shareholders' mandate.” “THAT the Company and/or its subsidiaries be Resolution 14 and is/are hereby authorised to enter into recurrent related party transactions from time to time with Related Parties who may be a Director, NOTICE OF BOOK CLOSURE a major shareholder of the Company and/or its subsidiaries or a person connected with such a Notice is hereby given that the Register of Members of Director or a major shareholder, as specified in the Company will be closed at 5.00 p.m. on 14 December section 2.3 of the Circular to Shareholders dated 2005 for entitlement of the following: 16 November 2005 subject to the following: Proposed First and Final Dividend of fifteen percent i the transactions are of a revenue or trading in (15%) gross less Malaysian Income Tax in respect of nature which are necessary for the day-to-day the financial year ended 30 June 2005 as operations of the Company and/or its recommended by the Directors on 26 August 2005. subsidiaries and are transacted on terms consistent or comparable with market or Further Notice is hereby given that a Depositor shall normal trade practices and/or based on qualify for entitlement only in respect of: normal commercial terms and on terms not more favourable to the Related Parties than a Shares transferred into the Depositor's Securities those generally available to the public and are Account before 4.00 p.m. on 14 December 2005 in not to the detriment of the minority respect of transfers; and shareholders; and b Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia Securities Berhad. 67 NOTICE OF ANNUAL GENERAL MEETING YTL CORPORATION BERHAD 05
Notice is also hereby given that the Dividend Notes: Payment Date of the Proposed First and Final A member entitled to attend and vote at the meeting may appoint Dividend of fifteen percent (15%) gross less a proxy to vote in his stead. A proxy may but need not be a Malaysian Income Tax in respect of the financial year member of the Company and the provisions of Section 149(1)(b) ended 30 June 2005, if approved by the shareholders of the Companies Act, 1965 shall not apply to the Company. A member other than an Authorised Nominee shall not be entitled at the forthcoming Annual General Meeting, shall be to appoint more than one proxy to attend and vote at the same on 6 January 2006. meeting and where such member appoints more than one proxy to attend and vote at the same meeting, such appointment shall be invalid. The instrument appointing a proxy, in the case of an 1997/2007 and 1999/2009 warrant holders are individual, shall be signed by the appointer or his attorney and in reminded to lodge with the Company's Registrar, YTL the case of a corporation, either under seal or under the hand of Corporation Berhad of 11th Floor, Yeoh Tiong Lay Plaza, an officer or attorney duly authorised in writing. An instrument appointing a proxy shall be deposited at the Registered Office of 55 Jalan Bukit Bintang, 55100 Kuala Lumpur, their the Company at least 48 hours before the appointed time for subscription forms and subscription monies for holding the meeting. subscription of new shares by 5.00 p.m. on 14 December Resolution pursuant to Section 132D of the Companies Act, 1965 2005 to qualify for the above dividend entitlement. The Company is actively pursuing business opportunities in By Order of the Board, prospective areas so as to broaden the operating base and earnings potential of the Company. Such expansion plans may require the issue of new shares not exceeding ten per centum of the Company's issued share capital. With the passing of the Ho Say Keng Resolution 12 mentioned above by the shareholders of the Company at the forthcoming Annual General Meeting, the Secretary Directors would avoid delay and cost of convening further general meetings to approve issue of such shares for such purposes. Kuala Lumpur Resolution pertaining to the renewal of Authority to Buy–Back 16 November 2005 Shares of the Company
For Resolution 13, further information on the Share Buy–Back is set out in the Share Buy–Back Statement dated 16 November 2005 which is despatched together with the Circular to Shareholders for the Proposed Mandate for recurrent related party transactions of a revenue or trading nature, and the Company's Annual Report 2005.
Resolution pertaining to the Recurrent Related Party Transactions
For Resolution 14, further information on the Recurrent Related Party Transactions is set out in the Circular to Shareholders of the Company dated 16 November 2005 which is despatched together with the Share Buy–Back Statement dated 16 November 2005 and the Company's Annual Report 2005. 68 STATEMENT ACCOMPANYING YTL CORPORATION BERHAD 05 NOTICE OF ANNUAL GENERAL MEETING
1 THE NAMES OF INDIVIDUALS WHO ARE STANDING FOR RE–ELECTION OR RE–APPOINTMENT
Directors retiring by rotation pursuant to Article 84 of the Articles of Association:
• Dato' Yeoh Soo Min • Dato' Yeoh Seok Hong • Syed Abdullah Bin Syed Abd. Kadir
Directors retiring pursuant to Section 129(6) of the Companies Act, 1965
• Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay • Dato' (Dr) Yahya Bin Ismail • Mej Jen (B) Dato' Haron Bin Mohd Taib • Eu Peng Meng @ Leslie Eu
2 DETAILS OF ATTENDANCE OF DIRECTORS AT BOARD MEETINGS
There were six (6) Board meetings held during the financial year ended 30 June 2005. Details of attendance of the Directors are set out in the Directors' Profile.
3 22nd ANNUAL GENERAL MEETING OF YTL CORPORATION BERHAD
Place : Starhill 2, Level 4 JW Marriott Hotel Kuala Lumpur 183 Jalan Bukit Bintang 55100 Kuala Lumpur
Date & Time : 8 December 2005 at 3.00 p.m.
4 FURTHER DETAILS OF DIRECTORS WHO ARE STANDING FOR RE–ELECTION OR RE–APPOINTMENT
The profile of the Directors who are standing for re–election or re–appointment are set out under the section “Directors' Profile” and their securities holdings in the Company and its subsidiaries is presented in the “Statement of Directors' Interests” of the Annual Report. 69 CORPORATE INFORMATION YTL CORPORATION BERHAD 05
BOARD OF DIRECTORS Dato’ Yeoh Soo Keng DIMP B Sc (Hons) Civil Engineering Executive Chairman Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay Syed Abdullah Bin Syed Abd. Kadir PSM, SPMS, DPMS, KMN, PPN, PJK Hon D Eng (Heriot–Watt), DBA (Hon) (UMS), Chartered Builder B Sc (Engineering Production), B Com (Economics) FCIOB, FAIB, FFB, FBIM, FSIET, FBGAM, FMID
Managing Director COMPANY SECRETARY Tan Sri Dato' (Dr) Francis Yeoh Sock Ping PSM, SIMP, DPMS, DPMP, JMN, JP Ho Say Keng Hon D Eng (Kingston), B Sc (Hons) Civil Engineering, FFB, F Inst D, MBIM, RIM
Deputy Managing Director REGISTERED OFFICE Dato' Yeoh Seok Kian DSSA 11th Floor, Yeoh Tiong Lay Plaza B Sc (Hons) Bldg, MCIOB, FFB 55 Jalan Bukit Bintang 55100 Kuala Lumpur Directors T 03–2117 0088 Dato' (Dr) Yahya Bin Ismail 03–2142 6633 DPMJ, DPCM, DPMP, KMN F 03–2141 2703 Bachelor of Veterinary Science
Mej Jen (B) Dato' Haron Bin Mohd Taib PSAT, DPMJ, DPMT, DPMK, JMN, PMK, BUSINESS OFFICE SMT, PIS, PJK, PKB, psc 11th Floor, Yeoh Tiong Lay Plaza Dato' Cheong Keap Tai 55 Jalan Bukit Bintang 55100 Kuala Lumpur Dato' Yeoh Soo Min T 03–2117 0088 DSPN 03–2142 6633 BA (Hons) Accounting F 03–2141 2703
Dato' Yeoh Seok Hong DSPN, JP BE (Hons) Civil & Structural Engineering, FFB REGISTRAR
Dato' Michael Yeoh Sock Siong 11th Floor, Yeoh Tiong Lay Plaza DIMP 55 Jalan Bukit Bintang BE (Hons) Civil & Structural Engineering, FFB 55100 Kuala Lumpur T 03–2117 0088 Dato' Mark Yeoh Seok Kah 03–2142 6633 DSSA LLB (Hons) F 03–2141 2703
Eu Peng Meng @ Leslie Eu B Com, FCILT SOLICITORS
Dorairaj, Low & Teh Lee, Perara & Tan Shook Lin & Bok 70 YTL CORPORATION BERHAD 05 CORPORATE INFORMATION
AUDIT COMMITTEE Citibank Berhad Commerce International Merchant Bankers Berhad Dato' (Dr) Yahya Bin Ismail DBS Bank Ltd (Chairman and Independent Non–Executive Director) Deutsche Bank AG Deutsche Bank (Malaysia) Berhad Tan Sri Dato' (Dr) Francis Yeoh Sock Ping Dresdner Bank AG (Group Managing Director) European Investment Bank Hong Leong Bank Berhad Mej Jen (B) Dato' Haron Bin Mohd Taib HSBC Bank Malaysia Berhad (Independent Non–Executive Director) HSBC Bank Plc ING Bank N.V. Dato' Cheong Keap Tai Lloyds TSB Bank Plc (Independent Non–Executive Director) Malayan Banking Berhad Maybank International (L) Ltd Mizuho Corporate Bank Ltd AUDITORS National Australia Bank Limited OCBC Bank (Malaysia) Berhad HLB Ler Lum (AF 0276) Oversea–Chinese Banking Corporation Limited Chartered Accountants Public Bank Berhad (A member of HLB International) RHB Bank Berhad Southern Bank Berhad Sumitomo Mitsui Banking Corporation PRINCIPAL BANKERS OF THE GROUP Sumitomo Trust & Banking Co Ltd The Bank of East Asia Limited Affin Bank Berhad The Bank of Tokyo–Mitsubishi, Ltd Affin Merchant Bank Berhad The Royal Bank of Scotland Plc Alliance Bank Malaysia Berhad United Overseas Bank (Malaysia) Berhad AmBank Berhad AmMerchant Bank Berhad Bank Islam Malaysia Berhad STOCK EXCHANGE LISTING Bank of China (Malaysia) Berhad Bank Pembangunan Malaysia Berhad Bursa Malaysia Securities Berhad Barclays Bank Plc Main Board (3.4.1985) Bayerische Landesbank BNP Paribas Tokyo Stock Exchange Bumiputra–Commerce Bank Berhad Foreign Section (29.2.1996) 71 PROFILE OF THE BOARD OF DIRECTORS YTL CORPORATION BERHAD 05
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay Executive Chairman
Malaysian, aged 75 was appointed to the Board of the Company on 24 June 1984 and has been the Executive Chairman since 24 January 1985. His contributions are well recognised with the conferment of the title of Doctor of Engineering by Heriot–Watt University, Edinburgh and his appointment as Honorary Life President of the Master Builders Association of Malaysia in 1988. He is the co–founder and the first Chairman of the ASEAN Constructors' Federation (“ACF”). On 26 October 2002, Tan Sri was conferred the Honorary Doctorate in Philosophy (Business Administration) by Universiti Malaysia Sabah. He has been installed as Pro–Chancellor of Universiti Malaysia Sabah on 1 July 2005. He is the past President and Lifetime member of the International Federation of Asian and Western Pacific Contractors Association (“IFAWPCA”). He is currently an EXCO member of the Malaysian Crime Prevention Foundation (“MCPF”) and Vice President of the Malaysian Japanese Economic Association (“MAJECA”). He is also the Honorary Chairman of the Tung Shin Hospital and is on the Board of Governors for several schools. Tan Sri was also appointed to the Board of YTL Cement Berhad and has been the Executive Chairman of the Company since 19 March 1992. On 21 October 1996 and 31 October 1996, he was appointed as member and Executive Chairman to the Board of YTL Power International Berhad. Tan Sri also holds directorship in YTL Industries Berhad, YTL Foundation and Wessex Water Limited.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping Managing Director
Malaysian, aged 51, was appointed to the Board of the Company on 6 April 1984 as an Executive Director and has been the Managing Director of the Company since April 1988. Tan Sri Dato' (Dr) Francis Yeoh had his secondary education in Victoria Institution, Malaysia in which he was the Head Boy. He obtained his Bachelor of Science (Hons) Degree in Civil Engineering from Kingston University, United Kingdom in 1978. Tan Sri Francis Yeoh became the Managing Director of YTL Group in 1988. Under his stewardship, YTL Group has grown from a single listed entity in 1985 to a force comprising five listed companies – YTL Corporation Berhad, YTL Power International Berhad, YTL Cement Berhad, YTL Land & Development Berhad and YTL e–Solutions Berhad. He currently serves as a member of the Malaysian Business Council, Malaysian Pacific Basin Economic Council (PBEC), Malaysian Industry Government Group for High Technology (MIGHT), Commonwealth Partnership for Technology Management (CPTM), The Capital Markets Advisory Council, The Nature Conservancy Asia Pacific Council and the Asia Business Council. He is also the Trustee of the Asia Society. He is also a Board Member of SEI for Advanced Studies in Management – Wharton School, the Council Member of INSEAD and a Member of the Asia Regional Advisory Board of London Business School. He was the past President of the Kuala Lumpur Symphony Orchestra Society (KLSO) and the Founder President of the famous Eastern and Orient Express train. On 16 January 2003, he won the First Malaysian Ernst & Young Master Entrepreneur of the Year 2002 Award Recipient. He holds fellowships in many of the Chartered Institutions in the United Kingdom and is also the recipient of many major awards conferred by the Government of Malaysia. On 13 February 2004, he was conferred the degree of Honorary Doctorate of Engineering by Kingston University, United Kingdom. Tan Sri Dato' (Dr) Francis Yeoh was awarded the BusinessWeek's “25 Stars of Asia 2003” on 6 November 2003 in Hong Kong and was ranked 21st by Fortune Magazine Asia's 25 Most Powerful Business Personalities on 9 August 2004. He was appointed to the Board of YTL Power International Berhad on 18 October 1996 and has been its Group Managing Director since then. On 19 March 1992 and 10 May 2001, he was appointed to the Board of YTL Cement Berhad and YTL Land & Development Berhad respectively. He also serves on the Board of YTL Industries Berhad, YTL e–Solutions Berhad, YTL Foundation, Wessex Water Limited and Wessex Water Services Limited. 72 YTL CORPORATION BERHAD 05 PROFILE OF THE BOARD OF DIRECTORS
Dato' Yeoh Seok Kian Deputy Managing Director
Malaysian, aged 48, was appointed to the Board on 24 June 1984 as an Executive Director. He is currently the Deputy Managing Director of the Company. He graduated from Heriot–Watt University, Edinburgh, United Kingdom in 1981 with a Bachelor of Science (Hons) Degree in Building. He attended the Advance Management Programme conducted by Wharton Business School, University of Pennsylvania in 1984. Dato' Yeoh Seok Kian is a Fellow of the Faculty of Building, United Kingdom as well as a Member of the Chartered Institute of Building (UK). He is the current President of the Council of Bukit Bintang Shopping Centres. He has also been a director of YTL Power International Berhad since 21 October 1996. On 3 February 1987 and 10 May 2001, he was appointed to the Board of YTL Cement Berhad and YTL Land & Development Berhad respectively. He also serves on the Board of YTL Industries Berhad, The Kuala Lumpur Performing Arts Centre, YTL Vacation Club Berhad and Wessex Water Limited.
Dato' (Dr) Yahya Bin Ismail Independent Non–Executive Director
Malaysian, aged 77, was appointed to the Board of the Company on 6 April 1984 as an Independent Non–Executive Director. He holds a Bachelor of Veterinary Science degree from University of Sydney, Australia which he obtained in 1957 and was formerly with the Government and his last appointment was the Director General of the National Livestock Authority Malaysia. He was also with the Totalisator Board Malaysia from 1982 to 1990 and served as Chairman since 1986. Dato' Yahya is also a Director of YTL Power International Berhad (since 31 October 1996) and YTL Industries Berhad (since 27 August 1990). He also sits on the Board of several companies including Shell Refining Company (FOM) Berhad, Killinghall Malaysia Berhad, Metroplex Berhad and SBB Mutual Berhad.
Mej Jen (B) Dato' Haron Bin Mohd Taib Independent Non–Executive Director
Malaysian, aged 70, was appointed to the Board on 3 July 1990 as an Independent Non–Executive Director. He was enlisted as an officer cadet at the Royal Military College in Sungei Besi, Kuala Lumpur in 1957 and was commissioned as a Second Lieutenant at Royal Military Academy Sandhurst, England in 1957. Some of his various notable appointments include the Director of Manpower Planning in the Ministry of Defence in 1972, the Chief of Logistic Staff in 1986 and the Commander of Army Logistic Command in 1987. He has been a Director of YTL Power International Berhad since 31 October 1996.
Dato' Cheong Keap Tai Independent Non–Executive Director
Malaysian, aged 57, was appointed to the Board of the Company on 30 September 2004 as an Independent Non–Executive Director. Dato' Cheong graduated from the University of Singapore with a Bachelor of Accountancy. He is a Chartered Accountant of Malaysian Institute of Accountants (MIA), a Member of the Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Institute of Chartered Secretaries and Administrators (ICSA). He was the Executive Director and Partner of Coopers & Lybrand and upon its merger with Price Waterhouse was the Executive Director and Partner of PricewaterhouseCoopers until his retirement in December 2003. He continues to be a partner of a local accounting practice. He is also a Director of YTL Land & Development Berhad, YTL e–Solutions Berhad, Cement Industries of Malaysia Berhad and Kinta Kellas Public Limited Company. 73 PROFILE OF THE BOARD OF DIRECTORS YTL CORPORATION BERHAD 05
Dato' Yeoh Soo Min Executive Director
Malaysian, aged 49, was appointed to the Board on 24 June 1984 as an Executive Director. She graduated with a Bachelor of Art (Hons) Degree in Accounting from University of North London in 1980. She did her Articleship at Leigh Carr and Partners, London and has gained vast experience in accounting and management. She was responsible for the setting up of the Travel Division of the YTL Group in December 1990. She is currently responsible for the setting up of the accounting and finance systems for the YTL Group. She is a Member of the Malaysian Institute of Management and has been a Committee Member of the Women for Women Association, Malaysia since 1990. She was the past President of the Women in Travel Industry. She has been one of the Governors of International Students House, London since 1995 and a Trustee of Yayasan Tuanku Fauziah (Queen's Foundation). She has also been a Director of YTL Power International Berhad since 2 June 1997. She also serves on the Board of YTL Industries Berhad and YTL Vacation Club Berhad, wholly–owned subsidiaries of YTL Corporation Berhad.
Dato' Yeoh Seok Hong Executive Director
Malaysian, aged 46, was appointed to the Board on 19 June 1985 as an Executive Director. He obtained his Bachelor of Engineering (Hons) Civil & Structural Engineering Degree from the University Bradford, United Kingdom in 1982. He is a member of the Faculty of Building, United Kingdom. Dato' Yeoh Seok Hong has vast experience in the construction industry, being the Executive Director responsible for the YTL Group's construction division. He was the project director responsible for the development and the construction of the two Independent Power Producer power stations owned by YTL Power Generation Sdn Bhd. He continues to be actively involved in the construction activities of the YTL Group, his most recent project being the construction of the Express Rail Link between the Kuala Lumpur International Airport and the Kuala Lumpur Sentral Station, and is also responsible for developing the power and utility businesses of the YTL Power International Berhad Group. He has also been a Director of YTL Power International Berhad (since 18 October 1996) and YTL Land & Development Berhad (since 10 May 2001). He also serves on the Board of YTL Industries Berhad, YTL e–Solutions Berhad, YTL Foundation, Wessex Water Limited and Wessex Water Services Limited.
Dato' Michael Yeoh Sock Siong Executive Director
Malaysian, aged 45, was appointed to the Board of the Company on 19 June 1985 as an Executive Director. He graduated from the Bradford University, United Kingdom in 1983 with a Bachelor of Engineering (Hons) Civil & Structural Engineering Degree. He is primarily responsible for YTL Group's Manufacturing Division which activities involve cement manufacturing, ready–mixed concrete and other building material industries. On 21 October 1996 and 1 September 1985, he was appointed to the Board of YTL Power International Berhad and YTL Cement Berhad respectively. He is also currently on the Board of YTL Land & Development Berhad, YTL e–Solutions Berhad, YTL Industries Berhad, Sentul Raya Golf Club Berhad and Wessex Water Limited. 74 YTL CORPORATION BERHAD 05 PROFILE OF THE BOARD OF DIRECTORS
Dato' Mark Yeoh Seok Kah Executive Director
Malaysian, aged 40, was appointed to the Board of the Company on 22 June 1995. He graduated from King's College, University of London with an LLB (Hons) and was subsequently called to the Bar at Gray's Inn, London in 1988. He joined YTL Group in 1989 and is presently the Executive Director responsible for the YTL Hotels and Resorts Division. In addition, he is also part of YTL Power's Mergers & Acquisitions Team and was involved in the takeovers of ElectraNet SA (Australia), Wessex Water Limited (UK) and P.T. Jawa Power (Indonesia). He also serves on the Board of YTL Power International Berhad, YTL Land & Development Berhad, YTL e–Solutions Berhad, YTL Vacation Club Berhad and Wessex Water Limited.
Eu Peng Meng @ Leslie Eu Independent Non–Executive Director
Malaysian, aged 70, was appointed to the Board of the Company on 31 March 2003 as an Independent Non–Executive Director. Eu Peng Meng @ Leslie Eu graduated with a Bachelor of Commerce degree from the Republic of Ireland. He is a Fellow of the Chartered Institute of Logistics and Transport and was one of the founding directors of Global Maritime Ventures Berhad. He has been in the shipping business for more than 40 years. Eu Peng Meng @ Leslie Eu was the first Chief Executive Officer of Malaysian International Shipping Corporation Berhad from the company's inception in 1969 until his early retirement in 1985. He was a Board Member of Lembaga Pelabuhan Kelang from 1970 to 1999. In 1995, he was presented the Straits Transportation Personality award by the Minister of Transport. He was appointed by the United Nations Conference on Trade and Development as one of the 13 experts to assist the developing nations in establishing their maritime fleets. Eu Peng Meng @ Leslie Eu presently serves on the Board of Lloyd's Register of Shipping (M) Bhd, YTL Land & Development Berhad, YTL Cement Berhad and a few other local companies.
Dato’ Yeoh Soo Keng Executive Director
Malaysian, aged 42, was appointed to the Board on 16 May 1996 as an Executive Director. She graduated with a Bachelor of Science (Hons) in Civil Engineering from Leeds University, United Kingdom in 1985. She was the project director for the construction of the British High Commissioner's residence, Kuala Lumpur; the Design & Build of the National Art Gallery in Kuala Lumpur and the Selangor Medical Centre in Shah Alam. She was also in charge of a few turnkey projects such as the construction and completion of Yeoh Tiong Lay Plaza, Pahang Cement Plant in Pahang and Slag Cement Plants in Selangor and Johor. She is the purchasing director currently responsible for bulk purchases of building materials and related items for YTL Group's construction, hotels and resorts, and property development divisions. She is instrumental in the sales and marketing of cement and related products for YTL Cement Berhad, Pahang Cement Marketing Sdn Bhd and Perak–Hanjoong Simen Sdn Bhd. She has also been a Director of YTL Cement Berhad and YTL Power International Berhad since 23 August 1995 and 2 June 1997 respectively. 75 PROFILE OF THE BOARD OF DIRECTORS YTL CORPORATION BERHAD 05
Syed Abdullah Bin Syed Abd. Kadir Executive Director
Malaysian, aged 51, was appointed to the Board on 20 October 1999 as an Executive Director. He graduated from the University of Birmingham in 1977 with a Bachelor of Science (Engineering Production) and a Bachelor of Commerce (Economics) Double Degree. He has extensive experience in banking and financial services, having been with Bumiputra Merchant Bankers Berhad from 1984 to 1994, holding the position of general manager immediately prior to his departure from the Bank. Prior to joining YTL Corporation Berhad Group, he was the general manager of Amanah Capital Partners Berhad, a public listed company with subsidiaries involved in, inter alia, discount, money broking, unit trusts, finance and fund management operations from November 1994 to February 1996. He also serves on the Board of YTL Power International Berhad, YTL e–Solutions Berhad, Iris Corporation Berhad, Malaysian South–South Corporation Berhad and Versatile Creative Berhad.
Notes:
1 Family Relationship with Director and/or Major Shareholder Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay is the father of Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Kian, Dato' Yeoh Soo Min, Dato' Yeoh Seok Hong, Dato' Michael Yeoh Sock Siong, Dato' Mark Yeoh Seok Kah and Dato’ Yeoh Soo Keng. Save as disclosed herein; none of the Directors has any family relationship with any director and/or major shareholder of the Company.
2 Conflict of Interest None of the Directors has any conflict of interest with the Company.
3 Conviction of Offences None of the Directors has been convicted of any offences in the past ten (10) years.
DETAILS OF ATTENDANCE OF DIRECTORS AT BOARD MEETINGS
During the financial year, a total of 6 Board meetings were held and the details of attendance are as follows:
Attendance Attendance
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 5 Dato' Yeoh Soo Min 3 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 4 Dato' Yeoh Seok Hong 4 Dato' Yeoh Seok Kian 5 Dato' Michael Yeoh Sock Siong 6 Dato' (Dr) Yahya Bin Ismail 5 Dato' Mark Yeoh Seok Kah 5 Mej Jen (B) Dato' Haron Bin Mohd Taib 4 Eu Peng Meng @ Leslie Eu 5 Dato' Cheong Keap Tai (appointed wef 30.9.2004) 4 Dato’ Yeoh Soo Keng 4 Syed Abdullah Bin Syed Abd. Kadir 6 76 YTL CORPORATION BERHAD 05 STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The Directors are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and of the Company at the end of the financial year and of the results and cash flows of the Group and of the Company for the financial year then ended.
The Directors consider that, in preparing the financial statements for the financial year ended 30 June 2005, the Group has used appropriate accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent. The Directors also consider that all applicable approved accounting standards have been followed and confirm that the financial statements have been prepared on a going concern basis.
The Directors are responsible for ensuring that the Group and the Company keep accounting records which disclose with reasonable accuracy at any time the financial position of the Group and of the Company and which enable them to ensure that the financial statements comply with the provisions of the Companies Act, 1965 and the applicable approved accounting standards in Malaysia. 77 AUDIT COMMITTEE REPORT YTL CORPORATION BERHAD 05
MEMBERS 6 Act upon the Board of Directors' request to investigate and report on any issues or concerns Dato' (Dr) Yahya Bin Ismail in regard to the management of the Group. (Chairman/Independent Non–Executive Director) 7 Review existing practices and recommend to Tan Sri Dato' (Dr) Francis Yeoh Sock Ping Management to formalise an ethics code for all (Member/Managing Director) executives and members of the staff of the Group.
Mej Jen (B) Dato' Haron Bin Mohd Taib 8 Create a climate of discipline and control which (Member/Independent Non–Executive Director) will reduce opportunity of fraud.
Dato' Cheong Keap Tai Membership (Member/Independent Non–Executive Director) 1 The Committee shall be appointed by the Board from amongst their number and shall be composed TERMS OF REFERENCE of no fewer than three (3) members, majority of whom should be Independent Directors. Primary Purposes 2 At least one member of the Audit Committee: The Committee shall: a must be a member of the Malaysian Institute 1 Provide assistance to the Board in fulfilling its of Accountants; or fiduciary responsibilities relating to the corporate accounting and practices for YTL Corporation b if he is not a member of the Malaysian Berhad and all its wholly and majority owned Institute of Accountants, he must have at least subsidiaries (“Group”). 3 years' working experience and:
2 Improve the Group's business efficiency, the i he must have passed the examinations quality of the accounting function, the system of specified in Part I of the 1st Schedule of internal controls and audit function and the Accountants Act 1967; or strengthen the confidence of the public in the Group's reported results. ii he must be a member of one of the associations of accountants specified in Part 3 Maintain through regularly scheduled meetings, a II of the 1st Schedule of the Accountants Act direct line of communication between the Board 1967 or and the external auditors as well as internal auditors. c fulfils such other requirements as prescribed by Bursa Malaysia Securities Berhad (“Bursa 4 Enhance the independence of both the external Securities”). and internal auditors' function through active participation in the audit process. 3 The Board must ensure that no alternate Director is appointed as a member of the Audit 5 Strengthen the role of the Independent Directors Committee. by giving them a greater depth of knowledge as to the operations of the Company and of the Group 4 The members of the Committee shall elect a through their participation in the Committee. Chairman from amongst their number who shall be an Independent Director. 78 YTL CORPORATION BERHAD 05 AUDIT COMMITTEE REPORT
Authority c with the external auditors, the audit report;
The Committee shall in accordance with the d the assistance given by the employees of the procedure determined by the Board and at the cost of Company to the external auditors; the Company: e the adequacy of the scope, functions and 1 have authority to investigate any matter within its resources of the internal audit functions and terms of reference; that it has the necessary authority to carry out its work; 2 have the resources which are required to perform its duties; f the internal audit programme, processes, the results of the internal audit programme, 3 have full and unrestricted access to any processes or investigation undertaken and information pertaining to the Company; whether or not appropriate action is taken on the recommendations of the internal audit 4 have direct communication channels with the function; external auditors and person(s) carrying out the internal audit function; g the quarterly results and year end financial statements, prior to the approval by the Board 5 be able to obtain independent professional or of Directors, focussing particularly on: other advice and to secure the attendance of outsiders with relevant experience and expertise • changes in or implementation of major if it considers this necessary; and accounting policy changes • significant and unusual events 6 be able to convene meetings with the external • the accuracy and adequacy of the auditors excluding the attendance of the disclosure of information essential to a fair executive members of the Company, whenever and full presentation of the financial affairs deemed necessary. of the Group • compliance with accounting standards, Functions And Duties other statutory and legal requirements and the going concern assumption; The Committee shall, amongst others, discharge the following functions: h any related party transaction and conflict of interest situation that may arise within the 1 Review the following and report the same to the Company/Group and any related parties Board of the Company: outside the Group including any transaction, procedure or course of conduct that raises a with the external auditors, the audit plan; questions of management integrity;
b with the external auditors, his evaluation of i any letter of resignation from the external the quality and effectiveness of the entire auditors of the Company; accounting system, the adequacy and the integrity of the internal control system and j whether there is reason (supported by the efficiency of the Group's operations and grounds) to believe that the Company's efforts and processes taken to reduce the external auditors are not suitable for Group's operational risks; re–appointment; and
k any significant audit findings, reservations, difficulties encountered or material weaknesses reported by the external and internal auditors. 79 AUDIT COMMITTEE REPORT YTL CORPORATION BERHAD 05
2 Recommend the nomination of a person or 5 The Committee may invite any Board member or persons as external auditors and the external any member of the Senior Management or any audit fee. relevant employee within the Company who the Committee thinks fit to attend its meetings to 3 Promptly report to Bursa Securities on any assist in resolving and clarifying matters raised in matter reported by it to the Board of the Company audit reports. which has not been satisfactorily resolved resulting in a breach of Listing Requirements of 6 The internal auditors shall be in attendance at Bursa Securities. meetings of the Committee to present and discuss the audit reports of findings and the 4 Carry out any other function that may be mutually recommendations relating thereto and to follow agreed upon by the Committee and the Board up on decisions made at these meetings. which would be beneficial to the Company and ensure the effective discharge of the Committee's 7 The Committee may establish any regulations duties and responsibilities. from time to time to govern its administration.
Meetings Retirement And Resignation
1 To form a quorum in respect of a meeting of the In the event of any vacancy in the Audit Committee, Committee, the majority of members present the Company must fill the vacancy within 3 months. must be Independent Directors. Minutes 2 The Committee shall meet at least five (5) times a year, although additional meetings may be called 1 The Committee shall cause minutes to be duly at any time at the Audit Committee Chairman's entered in the books provided for the purpose of discretion. An agenda shall be sent to all all resolutions and proceedings of all meetings of members of the Committee and any other the Committee. Such minutes shall be signed by persons who may be required/invited to attend. the Chairman of the meeting at which the All meetings to review the quarterly results and proceedings were held or by the Chairman of the annual financial statements, shall be held prior to next succeeding meeting and if so signed, shall such quarterly results and annual financial be conclusive evidence without any further proof statements being presented to the Board for of the facts thereon stated. approval. 2 Minutes of each meeting shall also be distributed 3 Notwithstanding paragraph 2 above, upon the to all attendees at the meetings and members of request of any member of the Committee, the the Committee. external auditors or the internal auditors, the Chairman of the Committee shall convene a 3 Detailed minutes of the Committee's meetings meeting of the Committee to consider the will be made available to all Board members. A matters brought to its attention. summary of significant matters and resolutions will be reported to the Board by the Committee. 4 The external auditors have the right to appear and be heard at any meeting of the Committee 4 The books containing the minutes of proceedings and shall appear before the Committee when of any meeting of the Committee shall be kept by required to do so by the Committee. the Company at the registered office of the Company and shall be open to the inspection of any member of the Committee and of the Board. 80 YTL CORPORATION BERHAD 05 AUDIT COMMITTEE REPORT
Secretary NUMBER OF MEETINGS HELD AND DETAILS OF ATTENDANCE The Secretary to the Committee shall be the Company Secretary. During the financial year, a total of 5 Audit Committee Meetings were held and the details of attendance are as follows: ACTIVITIES Attendance In line with the terms of reference of the Committee, the following activities were carried out by the Dato' (Dr) Yahya Bin Ismail 5 Committee during the financial year ended 30 June Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 4 2005 in discharging its functions: Mej Jen (B) Dato' Haron Bin Mohd Taib 4 Dato' Cheong Keap Tai (appointed wef 30.9.2004) 3 1 Review of the external auditors' scope of work and their audit plan.
2 Reviewing with the external auditors on the results of their audit, the audit report and internal control recommendations in respect of control weaknesses noted in the course of their audit.
3 Review of internal control procedures.
4 Review of the quarterly unaudited financial results announcements and recommending for the Board of Directors' approval.
5 Reviewing the audited financial statements before recommending for the Board of Directors' approval.
6 Reviewing the Company's compliance with the Listing Requirements of Bursa Securities and the applicable approved accounting standards issued by the Malaysian Accounting Standards Board. 81 STATEMENT ON CORPORATE GOVERNANCE YTL CORPORATION BERHAD 05
INTRODUCTION Board Balance
During the year under review, YTL Corporation Berhad The Board currently has thirteen (13) Directors (“YTL Corp” or “Company”) and its subsidiaries comprising nine (9) executive members and (“Group”) continued to pursue its long–standing four (4) non–executive members, all of whom commitment to corporate governance and protection are independent. This is in compliance with of shareholder value. This commitment has been the requirement for one–third of the Board to central to the Group's achievements and strong be independent. financial profile to date. The positions of the Executive Chairman and the The Board of Directors (“Board”) remains firmly Managing Director are held by separate members committed to implementing and attaining the highest of the Board. The Executive Chairman is primarily standards of corporate governance throughout the responsible for the orderly conduct and working of Group. Good corporate governance is a fundamental the Board, whilst the Managing Director oversees part of the Board's responsibility to protect and the day–to–day running of the business, enhance long term shareholder value and the implementation of Board policies and making of financial performance of the Group, whilst taking into operational decisions. The Managing Director and account the interests of other stakeholders. During the Executive Directors are accountable to the the year under review, the Board continued to adhere Board for the profitable operation and development to the measures recommended by the Malaysian of the Group, consistent with the primary aim of Code on Corporate Governance (“Code”) to enhance enhancing long–term shareholder value. its corporate governance practices, and to fully comply with the Listing Requirements of Bursa The presence of Independent Non–Executive Malaysia Securities Berhad (“Bursa Securities”) Directors brings an additional element of balance (“Listing Requirements”). to the Board and these Independent Non–Executive Directors must be of the calibre This section of the Annual Report details the necessary to carry sufficient weight in the Board's measures implemented by the Group to strengthen decisions. The differing roles of Executive and its compliance with the Principles and Best Practices Non–Executive Directors are delineated, both of Corporate Governance as set out in Parts 1 and 2 having fiduciary duties towards shareholders. of the Code, respectively. Executive Directors have a direct responsibility for business operations whereas Non–Executive Directors must have the necessary skill and A DIRECTORS experience to bring an independent judgement to bear on issues of strategy, performance and The Board resources.
YTL Corp is led and managed by an experienced The Executive Directors are responsible for the Board with a wide and varied range of expertise. Group's operations and for ensuring that This broad spectrum of skills and experience strategies proposed by management are fully ensures the Group is under the guidance of an discussed and examined, and take account of the accountable and competent Board. The Directors long term interests of shareholders, employees, recognise the key role they play in charting the customers, suppliers and the many communities strategic direction, development and control of in which the Group conducts its business. the Group and have adopted the six primary responsibilities as listed in the Code, which Together, the Directors possess the wide range of facilitate the discharge of the Board's business, commercial and financial experience stewardship responsibilities. essential in the management and direction of a corporation with global presence. A brief 82 YTL CORPORATION BERHAD 05 STATEMENT ON CORPORATE GOVERNANCE
description of the background of each Director is their duties. There are matters specifically presented in the Profile of the Board of Directors reserved for the Board's decision to ensure that in this Annual Report. the direction and control of the Group rests firmly with the Board. Prior to each Board meeting, all To date, the Board has not found it necessary to Directors receive the agenda together with a full identify a senior independent non–executive to set of Board papers containing information whom concerns may be conveyed, mainly relevant to the business of the meeting. This because the Chairman encourages full allows the Directors to obtain further deliberation of issues affecting the Group by all explanations or clarification, where necessary, in members of the Board. order to be properly briefed before each meeting.
Directors' Training All Directors have full access to the advice and services of the Company Secretary who ensures All Directors of the Company have attended and that Board procedures are adhered to at all times successfully completed the Mandatory during meetings and advises the Board on Accreditation Programme as prescribed by Bursa matters including corporate governance issues Securities. Throughout the year under review, the and the Directors' responsibilities in complying Directors attended various programmes and with relevant legislation and regulations. conferences to enhance their knowledge and expertise. The Directors will also continue to Appointments to the Board attend Continuing Education Programmes (“CEP”), to ensure that they obtain the required The Code endorses as good practice, a formal number of CEP points by 31 December 2005, or in procedure for appointment to the Board, based on accordance with any subsequent deadline the recommendation of a nomination committee, imposed by Bursa Securities. Thereafter, the although this procedure may also be performed Board will evaluate and determine the training by the Board as a whole. needs of its Directors on an ongoing basis. The Executive Chairman makes recommendations Board Meetings on the suitability of candidates nominated for appointment to the Board and the final decision Board meetings are scheduled five (5) times per lies with the entire Board to ensure that the annum to review the Group's operations and to resulting mix of experience and expertise of approve the quarterly and annual financial members of the Board is sufficient to address the statements. Additional meetings are held as and issues affecting the Group. when important decisions need to be taken between the scheduled meetings. Re–election of Directors
The Board met six (6) times during the financial In accordance with the Company's Articles of year ended 30 June 2005. Details of each Association, one–third of the Directors are Director's attendance of the Board meetings are required to retire from office at each Annual disclosed in the Profile of the Board of Directors General Meeting (“AGM”). Retiring Directors can in this Annual Report. offer themselves for re–election. Directors who are appointed by the Board during the financial Access to and Supply of Information and Advice year are subject to re–election by shareholders at the next AGM held following their appointments. The Directors have full and unrestricted access to Directors who are over seventy (70) years of age all information pertaining to the Group's business are required to submit themselves for and affairs, both as a full Board and in their re–appointment annually in accordance with individual capacities, to enable them to discharge Section 129 of the Companies Act, 1965. 83 STATEMENT ON CORPORATE GOVERNANCE YTL CORPORATION BERHAD 05
Details of Directors seeking re–election at the • The Annual Report; forthcoming AGM are disclosed in the Statement • The various disclosures and announcements to Accompanying the Notice of AGM in this Annual Bursa Securities, including quarterly and Report. annual results; and • The Group's websites, www.ytlcommunity.com and www.ytl.com.my. B DIRECTORS' REMUNERATION The Managing Director meets with analysts, Directors' remuneration is decided in line with institutional shareholders and investors the objective recommended by the Code to throughout the year. Presentations based on determine the remuneration for directors so as to permissible disclosures are made to explain the attract and retain directors of the calibre needed Group's performance and major development to run the Group successfully. programs. Price–sensitive and information that may be regarded as undisclosed material In general, the component parts of remuneration information about the Group is, however, not are structured so as to link rewards to disclosed in these sessions until after the performance, in the case of Executive Directors. prescribed announcement to Bursa Securities In the case of Non–Executive Directors, the level has been made. of remuneration reflects the experience and responsibilities undertaken by the particular The AGM non–executive concerned. Directors do not participate in decisions regarding their own The AGM is the principal forum for dialogue with remuneration packages and Directors' fees must shareholders. The Board provides opportunities be approved by shareholders at the AGM. for shareholders to raise questions pertaining to issues in the Annual Report, corporate Details of the aggregate remuneration of developments in the Group, the resolutions being Directors categorised into appropriate proposed and the business of the Group in components and the range of remuneration for general at every AGM and Extraordinary General each Director can be found in Note 6 of the Notes Meeting of the Company. The Managing Director to the Financial Statements in this Annual Report responds to shareholders' questions during the (for security and confidentiality reasons, details of meeting, thereby ensuring a high level of Directors' remuneration are not shown with accountability, transparency and identification reference to Directors individually). with the Group's business operations, strategy and goals. Each item of special business included in the notice of the meeting is accompanied by an C SHAREHOLDERS explanatory statement for the proposed resolution to facilitate full understanding and Dialogue between the Company and Investors evaluation of issues involved.
The Group values dialogue with investors as a means of effective communication that enables D ACCOUNTABILITY AND AUDIT the Board to convey information about the Group's performance, corporate strategy and Audit Committee other matters affecting shareholders' interests. Such information is communicated through the The Company has in place an Audit Committee following channels: which comprises three (3) Non–Executive Directors and one (1) Executive Director. The Audit Committee holds quarterly meetings to review matters including the Group's financial reporting, the audit plans for the year and 84 YTL CORPORATION BERHAD 05 STATEMENT ON CORPORATE GOVERNANCE
recurrent related party transactions, as well as to Lum, has continued to report to members of the deliberate the findings of the internal and Company on their findings which are included as external auditors. part of the Company's financial reports with respect to each year's audit on the statutory With an independent component of 75%, the financial statements. From time to time, the composition of the Audit Committee is fully auditors highlight matters that require attention compliant with the Code and the Listing to the Audit Committee and Board. Requirements, which require the majority of directors on the Audit Committee to be independent and that one director is an MIA member. E ADDITIONAL DISCLOSURE
The Audit Committee met five (5) times during the Employees' Share Option Scheme financial year ended 30 June 2005. Full details of the composition, complete terms of reference and YTL Corp's Employees' Share Option Scheme the activities of the Audit Committee during the ('”ESOS”) was approved by shareholders at an financial year are set out in the Audit Committee extraordinary general meeting in October 2001. Report included in this Annual Report. Details of the number of ESOS options granted during the year under review can be found in the Financial Reporting Directors' Report in the Financial Statements in this Annual Report. The Directors are responsible for ensuring that financial statements are drawn up in accordance The Board believes that maintaining the calibre of with the provisions of the Companies Act, 1965 its employees is vital to ensure the continued and applicable approved accounting standards in success of the Group and the consequent Malaysia. In presenting the financial statements, increase in returns to shareholders. To these the Company has used appropriate accounting ends, the Group has implemented various staff policies, consistently applied and supported by retention and assessment practices in addition to reasonable and prudent judgements and the ESOS, including a Thirteenth Month wage estimates. The Directors also strive to ensure that supplement, annual bonuses and biannual financial reporting presents a fair and reviews of staff performance. understandable assessment of the Company's position and prospects. Quarterly financial Share Buy–Back statements were reviewed by the Audit Committee and approved by the Board prior release to Bursa Details of the Company's Share Buy–Back Securities and Securities Commission. exercises for the year under review have also been included in this Annual Report. The Statement by Directors made pursuant to Section 169 of the Companies Act, 1965, is set in this Annual Report. F COMPLIANCE STATEMENT
Internal Control The Board is satisfied that the Company has, in all material aspects, complied with the best Information on the Group's system of internal practices of the Code as at 30 June 2005. control is presented in the Statement on Internal Control in this Annual Report. This statement was approved by the Board of Directors on 20 October 2005. Relationship with the Auditors
The Board has established formal and transparent arrangements for maintaining an appropriate relationship with the Company's auditors. The Company's auditor, Messrs HLB Ler 85 STATEMENT ON INTERNAL CONTROL YTL CORPORATION BERHAD 05
INTRODUCTION • Authorisation Procedures
During the year under review, YTL Corporation The Group has a clear definition of authorisation Berhad (“YTL Corp” or “Company”) continued to procedures and a clear line of accountability, with progress in formalising its system of internal control strict authorisation, approval and control and risk management, in order to better quantify its procedures within which senior management compliance with the Malaysian Code on Corporate operates. Responsibility levels are communicated Governance (“Code”) and the Listing Requirements of throughout the Group which set out, among Bursa Malaysia Securities Berhad (“Bursa others, authorisation levels, segregation of duties Securities”) (“Listing Requirements”). and other control procedures.
The Code requires the Board of Directors (“Board”) of • Authority Levels listed companies to maintain a sound system of internal control to safeguard shareholders’ investments and the The Group has delegated authority levels for Company’s assets. Paragraph 15.27 (b) of the Listing major tenders, capital expenditure projects, Requirements requires the Board to include in the acquisitions and disposals of businesses and annual report of the Company a statement on the status other significant transactions. The approval of of the system of internal control. capital and revenue proposals above certain limits is reserved for decision by the Board. Other investment decisions are delegated for approval in BOARD’S RESPONSIBILITIES accordance with authority limits. Comprehensive appraisal and monitoring procedures are applied The Board is responsible for maintaining a sound to all major investment decisions. system of internal control to safeguard shareholders’ investments and the assets of YTL Corp and its The authority of the Directors is required for key subsidiaries (“Group”), and for reviewing the treasury matters including changes to equity, adequacy and integrity of the system. The system of financing, cheque signatories, opening of bank internal control covers not only financial controls but accounts and foreign operations. Comprehensive operational and compliance controls and risk due diligence is carried out when a business is to management. However, the Board recognises that be acquired. reviewing the Group’s system of internal control is a concerted and continuing process, designed to • Financial Performance manage rather than eliminate the risk of failure to achieve business objectives. Accordingly, the Group’s Interim financial results are reviewed by the Audit system of internal control can only provide Committee and approved by the Board upon reasonable but not absolute assurance against recommendation of the Audit Committee before material misstatement, fraud and loss. release to Bursa Securities. The full year financial results and analyses of the Group’s state of The Board believes that the Group’s system of affairs are disclosed to shareholders after review internal control, financial or otherwise, should and audit by the external auditors. provide reasonable assurance regarding the achievement of the Group’s objectives in ensuring • Internal Compliance effectiveness and efficiency of operations, reliability and transparency of financial information and The Group monitors compliance with its internal compliance with laws and regulations. financial controls through management reviews and reports which are internally reviewed by key personnel. Updates of internal policies and PRINCIPAL FEATURES OF THE GROUP’S procedures are undertaken to reflect changing SYSTEM OF INTERNAL CONTROL risks or resolve operational deficiencies. Internal audit visits are systematically arranged over The principal features of the Group’s system of specific periods to monitor and scrutinise internal control can be summarised as follows: compliance with procedures and assess the integrity of financial information provided. 86 YTL CORPORATION BERHAD 05 STATEMENT ON INTERNAL CONTROL
KEY PROCESSES OF THE GROUP’S SYSTEM OF The system of internal control will continue to be INTERNAL CONTROL reviewed, enhanced or updated in line with changes in the operating environment. The Board will seek The key processes that the Board has established to regular assurance on the continuity and review the adequacy and integrity of the system of effectiveness of the internal control system through internal control are as follows: independent appraisals by the internal auditors. The Board is of the view that the current system of • Internal Audit Function internal control in place throughout the Group is sufficient to safeguard the Group’s interest. The internal audit function is presently out–sourced to a professional firm who monitors • Senior Management Meetings and reports on the system of internal financial, accounting and operational controls. The internal The Group conducts weekly meetings of the auditors report to the Audit Committee, which in senior management which comprises Executive turn reviews the effectiveness of the system of Directors and all divisional heads. The purpose of internal financial and accounting control as it these meetings is to deliberate and decide upon operated during the year under review and all urgent company matters. Decisions can then reports their conclusions to the Board. The team be communicated to all members of staff advises executive and operational management immediately. From these meetings, the Board is on areas for improvement and subsequently able to identify significant operational and reviews the extent to which its recommendations financial risks concerned. have been implemented. • Treasury Meeting During the year under review, the internal auditors reviewed the Group’s system of internal control The Group conducts weekly meetings, to discuss covering financial, accounting, operational and significant financial and treasury matters and to compliance controls. Although a number of monitor the financial standing of the Group. internal control weaknesses were identified during These meetings ensure that any new financial this process, none of the weaknesses have developments and/or areas of concern are resulted in non–compliance with any relevant highlighted early and can dealt with promptly. The policies or procedures, listing requirements or members of this meeting comprise the Group recommended industry practices that would Managing Director, Executive Directors, Company require disclosure in the Company’s annual report. Secretary, Legal Adviser and Treasurer.
The companies of the Wessex Water Limited group • Site Visits (“Wessex Water”) based in the United Kingdom were not covered by the internal audit process The Executive Directors undertake visits to the discussed above. Wessex Water’s operations are production and operating units and communicate subject to stringent financial and operational with various levels of staff to gauge first–hand controls imposed by its regulator, the UK Office of the effectiveness of strategies discussed and Water Services (OFWAT), a government body, and implemented. by its Regulatory Licence. Wessex Water Services Limited (“WWSL”) possesses its own internal audit department. The internal audit department RISK MANAGEMENT reports to WWSL’s audit committee, which has the responsibility to ensure the preservation of good The Group’s strong financial profile is the result of a financial practices and monitor the controls that system of internal control and risk management are in place to ensure the integrity of those designed to mitigate risks which arise in the course practices. It reviews the annual financial of business. This is exemplified by the Group’s statements and by way of timely meetings strategy of acquiring regulated assets and financing provides a line of communication between the acquisitions on a non–recourse basis. These include board of directors and the external auditors. It has the Paka and Pasir Gudang Power Stations, the formal terms of reference which deal with its Express Rail Link, ElectraNet and more recently, authorities and duties. Wessex Water and P.T Jawa Power. These assets 87 STATEMENT ON INTERNAL CONTROL YTL CORPORATION BERHAD 05
share common characteristics of highly predictable Management is responsible for the identification and operating costs and revenue streams, which in turn evaluation of significant risks applicable to their generate stable and predictable cash flows and areas of business together with the design and profits, underpinned by an established regulatory operation of suitable internal controls. These risks environment and a virtual monopoly in their are assessed on a continual basis and may be respective markets of operation. associated with a variety of internal and external sources including control breakdowns, disruption in In addition, the Group has a long–standing policy of information systems, competition, natural entering into joint venture agreements with local catastrophe and regulatory requirements. authorities and state governments in undertaking construction projects and cement plant operations, in The Managing Director reports to the Board on order to reduce risk levels. significant changes in the business and the external environment which affects significant risks. Where In its property development division, the Group has areas for improvement in the system are identified, pursued joint venture agreements with landowners, the Board considers the recommendations made by particularly Government bodies, when undertaking the Audit Committee and the internal auditors. projects. This strategy has helped keep holding costs low and provided better resilience against severe The Board will pursue its ongoing process of downswings in the property market. The Group’s identifying, assessing and managing key business, Sentul Raya development project, for instance, is operational and financial risks faced by its business being undertaken as a joint venture with Keretapi units as well as regularly reviewing planned Tanah Melayu Berhad, whilst Pantai Hillpark is being strategies to determine whether risks are mitigated developed with Kuala Lumpur City Hall. Other and well–managed, and to ensure compliance with projects, such as Taman Puncak Kinrara and Taman the guidelines issued by the relevant authorities. Pakatan Jaya involve joint ventures with the Selangor and Perak State Governments, respectively. CONCLUSION Part 2 of the Best Practices in the Code states that the Board should identify principal risks and ensure At this juncture, the Board is of the view that the the implementation of appropriate systems to system of internal controls being instituted manage these risks. throughout the Group is sound and effective. Notwithstanding this, reviews of all the control In dealing with its stewardship responsibilities, the procedures will be continuously carried out to ensure Board of Directors recognises that effective risk the ongoing effectiveness and adequacy of the management is an integral part of good business systems of internal control, so as to safeguard management practice. The Board acknowledges that shareholders’ investments and the Group’s assets. all areas of the Group’s business activities involve some degree of risk and is committed to ensuring This Statement was approved by the Board of that the Group has an effective risk management Directors on 20 October 2005. framework which allows Management to manage risks within defined parameters and standards.
Identifying, evaluating and managing the significant risks faced by the Group is an ongoing process which is undertaken at each level of operations. During the year under review, this function was exercised through direct participation of Executive Directors in management meetings to ensure the adequacy and integrity of the system of internal control. Emphasis is placed on reviewing and updating the process for identifying and evaluating the significant risks affecting the business, and policies and procedures by which these risks are managed. 88 DISCLOSURE OF YTL CORPORATION BERHAD 05 RECURRENT RELATED PARTY TRANSACTIONS
At the last Annual General Meeting of YTL Corporation Berhad (“YTL Corporation” or “Company”) held on 9 December 2004, the Company had obtained a mandate from its shareholders to allow YTL Corporation and/or its subsidiaries (“YTL Corporation Group”) to enter into Recurrent Related Party Transactions of a Revenue or Trading Nature (“Recurrent Transactions”).
In accordance with Paragraph 10.09(1)(b) and Section 4.1.5 of Practice Note 12/2001 of Bursa Malaysia Securities Berhad Listing Requirements, details of the Recurrent Transactions conducted during the financial year ended 30 June 2005 pursuant to the said shareholders' mandate are as follows:
Companies in the YTL Corporation Group involved in Interested Value of the Recurrent Related Nature of Related Nature of Transactions Transactions Parties Transactions Parties Relationship RM’000
YTL Power YTL Power Provision of operation and Tan Sri Dato' Seri Director/Major 73,380 Services International maintenance services to (Dr) Yeoh Tiong Lay Shareholder Sdn Bhd; Berhad Related Party; [“Tan Sri Yeoh Tiong Lay”] (1)(5)(18) Group(18) via YTL its subsidiary, Purchase of office Yeoh Tiong Lay & Major e–Solutions YTL Power equipment and provision Sons Holdings Sdn Shareholder(2) Berhad Generation of consultancy services Bhd (“YTLSH”); Sdn Bhd to Related Party Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Kian, Dato Yeoh Soo Min, Directors/ Dato' Yeoh Seok Hong, Persons Dato' Michael Yeoh Connected Sock Siong, (3)(5) Dato’ Yeoh Soo Keng, and Dato' Mark Yeoh Seok Kah [collectively referred to as the “Yeoh Siblings”]
Puan Sri Datin Seri Tan Kai Yong @ Tan Kay Neong, Puan Sri Dato' Paduka Rosaline Chan Yee Hing, Datin Lim Lee Lee, Dato' Tan Kim Kuan, Persons Datin Kathleen Chew Connected(4) Wai Lin, Datin Tan Siew Bee, Choy Wai Hin, and Datin Julie Teh Chooi Gan [collectively referred to as the “Directors' Spouses”] DISCLOSURE OF 89 RECURRENT RELATED PARTY TRANSACTIONS YTL CORPORATION BERHAD 05
Companies in the YTL Corporation Group involved in Interested Value of the Recurrent Related Nature of Related Nature of Transactions Transactions Parties Transactions Parties Relationship RM’000
Syarikat YTL Cement Purchase of readymix concrete Tan Sri Yeoh Tiong Lay; Director/Major 87,062 Pembenaan Berhad and construction materials Shareholder Yeoh Tiong Group (19) via from Related Party; (1)(19) Lay Sdn Bhd, its subsidiary companies Sale of equipment, cement tanker YTLSH; Major YTL including: to Related Party, and maintenance Shareholder(2) Technologies costs on mixer trucks, plant and Sdn Bhd, • Buildcon machinery received from Related Yeoh Siblings Directors/ Concrete Party; Persons Batu Tiga Sdn Bhd Connected Quarry • Buildcon– Charges for hiring of mixer trucks, (3)(6)(7)(8)(9)(10) Sdn Bhd, Cimaco machinery and tankers paid to Concrete Related Party; Directors' Spouses Persons Dynamic Sdn Bhd Connected(4) Marketing • C.I. Readymix Sale of raw material used for Sdn Bhd, Sdn Bhd concrete manufacturing, in • Slag Cement particular sand and aggregates Superb Sdn Bhd to Related Party; Aggregates • Slag Cement Sdn Bhd (Southern) Sale of lubricants and diesel to Sdn Bhd Related Party; • YTL Cement Marketing Purchase of cement from Related Sdn Bhd Party; • Pahang Cement Supply of lime stone and clay to Sdn Bhd Related Party; • Pahang Cement Marketing Sdn Bhd
Syarikat YTL Land & Progress billing for Sentul Raya Tan Sri Yeoh Tiong Lay; Director/Major 120,791 Pembenaan Development Development Project to Related Shareholder Yeoh Tiong Berhad Party; (1)(20) Lay Sdn Bhd, Group(20) via its Provision of civil engineering YTLSH; Major YTL Civil subsidiary services to Related Party; Shareholder(2) Engineering companies Sdn Bhd, including: 90 DISCLOSURE OF YTL CORPORATION BERHAD 05 RECURRENT RELATED PARTY TRANSACTIONS
Companies in the YTL Corporation Group involved in Interested Value of the Recurrent Related Nature of Related Nature of Transactions Transactions Parties Transactions Parties Relationship RM’000
YTL • Sentul Raya Supply of computer and related Yeoh Siblings Directors/ e–Solutions Sdn Bhd equipment to Related Party Persons Berhad • Bayumaju Connected Development (3)(11)(12)(13)(14)(15) Sdn Bhd • Pakatan Directors' Spouses Persons Perakbina Connected(4) Sdn Bhd •PYP Sendirian Berhad • Syarikat Kemajuan Perumahan Negara Sdn Bhd
YTL YTL Provision of I.T. hardware and/or Tan Sri Yeoh Tiong Lay; Director/Major 5,996.7 Corporation e–Solutions software, software development Shareholder Group Berhad services, design artwork services, (1)(21) (“YTL system integration services, e–Solutions”) development and management of YTLSH; Major and its advertising content services Shareholder(2) subsidiary by Related Party; companies(21) Yeoh Siblings Directors/ including: Development of wireless LAN Persons • Intellectual (Local Area Network) and Connected Learning provision of wireless broadband (3)(16)(17) Sdn Bhd, network and system connectivity • YTL Info by Related Party; Directors' Spouses Persons Screen Connected(4) Sdn Bhd Licence fees for I.T. software paid to Related Party;
Provision of I.T. training by Related Party;
Provision of Info Screen advertising, artwork, and website development services by Related Party DISCLOSURE OF 91 RECURRENT RELATED PARTY TRANSACTIONS YTL CORPORATION BERHAD 05
Notes:
(1) Tan Sri Yeoh Tiong Lay is a director of YTL Corporation. Tan Sri Yeoh Tiong Lay is also a major shareholder of YTL Corporation and the Related Party. YTLSH is a person connected with Tan Sri Yeoh Tiong Lay.
(2) YTLSH is a major shareholder of YTL Corporation.
(3) Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Kian, Dato' Yeoh Soo Min, Dato' Yeoh Seok Hong, Dato' Michael Yeoh Sock Siong, Dato’ Yeoh Soo Keng and Dato' Mark Yeoh Seok Kah are directors of YTL Corporation and persons connected with Tan Sri Yeoh Tiong Lay.
(4) Puan Sri Datin Seri Tan Kai Yong @ Tan Kay Neong is the spouse of Tan Sri Yeoh Tiong Lay. Puan Sri Dato' Paduka Rosaline Chan Yee Hing, Datin Lim Lee Lee, Dato' Tan Kim Kuan, Datin Kathleen Chew Wai Lin, Datin Tan Siew Bee, Choy Wai Hin and Datin Julie Teh Chooi Gan are the spouse of the respective Yeoh Siblings.
(5) Tan Sri Yeoh Tiong Lay, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Kian, Dato' Yeoh Seok Hong and Dato' Mark Yeoh Seok Kah are also directors of YTL Power Generation Sdn Bhd.
(6) Dato' Michael Yeoh Sock Siong and Dato’ Yeoh Soo Keng are also directors of Slag Cement Sdn Bhd.
(7) Dato’ Yeoh Soo Keng is also a director of Slag Cement (Southern) Sdn Bhd.
(8) Dato’ Yeoh Soo Keng is also a director of YTL Cement Marketing Sdn Bhd.
(9) Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Michael Yeoh Sock Siong and Dato’ Yeoh Soo Keng are also directors of Pahang Cement Sdn Bhd.
(10) Dato’ Yeoh Soo Keng is also a director of Pahang Cement Marketing Sdn Bhd.
(11) Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Kian and Dato' Michael Yeoh Sock Siong are also directors of Sentul Raya Sdn Bhd.
(12) Dato' Yeoh Seok Kian and Dato' Yeoh Seok Hong are also directors of Bayumaju Development Sdn Bhd.
(13) Dato' Yeoh Seok Kian and Dato’ Yeoh Soo Keng are also directors of Pakatan Perakbina Sdn Bhd.
(14) Dato' Yeoh Seok Kian is also a director of PYP Sendirian Berhad.
(15) Tan Sri Dato' (Dr) Francis Yeoh Sock Ping and Dato' Yeoh Seok Kian are also directors of Syarikat Kemajuan Perumahan Negara Sdn Bhd.
(16) Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Dato' Yeoh Seok Hong, Dato' Michael Yeoh Sock Siong and Dato' Mark Yeoh Seok Kah are also directors of YTL e–Solutions.
(17) Dato' Yeoh Soo Min is also a director of Intellectual Learning Sdn Bhd.
(18) YTL Power International Berhad is a 58.67% owned subsidiary of YTL Corporation, which in turn is a subsidiary of YTLSH. YTL Power International Berhad and/or its subsidiaries are persons connected with Tan Sri Yeoh Tiong Lay.
(19) YTL Corporation holds 6.04% direct interests in YTL Cement Berhad and together with YTL Industries Berhad (47.79%) and YTL Power International Berhad (2.07%), holds a total of 55.9% equity interest in YTL Cement Berhad. YTL Cement Berhad and/or its subsidiaries are persons connected with Tan Sri Yeoh Tiong Lay.
(20) YTL Land & Development Berhad is a 58.10% owned subsidiary of YTL Corporation, which in turn is a subsidiary of YTLSH. YTL Land & Development Berhad and/or its subsidiaries are persons connected with Tan Sri Yeoh Tiong Lay.
(21) YTL e–Solutions is a 74.07% owned subsidiary of YTL Corporation, which in turn is a subsidiary of YTLSH. YTL e–Solutions and/or its subsidiaries are persons connected with Tan Sri Yeoh Tiong Lay. 92 ANALYSIS OF SHARE/WARRANT HOLDINGS YTL CORPORATION BERHAD 05 AS AT 13.10.2005
Class of shares : Ordinary Shares of RM0.50 each Voting rights : One vote per shareholder on a show of hands or one vote per ordinary share on a poll
DISTRIBUTION OF SHAREHOLDINGS
No. of No. of Size of holding Shareholders % Shares # % #
Less than 100 1,469 14.91 44,456 0.00 100 – 1,000 1,306 13.25 682,311 0.05 1,001 – 10,000 5,541 56.23 16,412,072 1.16 10,001 – 100,000 1,171 11.88 31,601,112 2.23 100,001 to less than 5% of issued shares 366 3.71 480,183,670 33.92 5% and above of issued shares 2 0.02 886,760,875 62.64
Total 9,855 100.00 1,415,684,496 100.00
# Based on the issued and paid–up share capital of the Company of RM765,276,150.50 comprising 1,530,552,301 ordinary shares and after deduction of 114,867,805 treasury shares retained by the Company as per Record of Depositors.
THIRTY LARGEST SHAREHOLDERS (without aggregating securities from different securities accounts belonging to the same person)
Name No. of Shares % #
1 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 726,426,940 51.31 2 Employees Provident Fund Board 160,333,935 11.33 3 HSBC Nominees (Asing) Sdn Bhd 23,400,704 1.65 – JPMCB for Flawless Beauty Ltd 4 UOBM Nominees (Asing) Sdn Bhd 18,339,763 1.30 – Deutsche Bank AG Singapore Branch (PBD) for Windchime Developments Limited 5 UOBM Nominees (Asing) Sdn Bhd 17,556,403 1.24 – Deutsche Bank AG Singapore Branch (PBD) for Orchestral Harmony Limited 6 UOBM Nominees (Asing) Sdn Bhd 17,233,920 1.22 – Deutsche Bank AG Singapore Branch (PBD) for Velvet Properties Limited 7 DB (Malaysia) Nominee (Asing) Sdn Bhd 16,717,456 1.18 – Deutsche Bank AG Singapore PBD for Steeloak International Limited 8 DB (Malaysia) Nominee (Asing) Sdn Bhd 15,629,561 1.10 – Deutsche Bank AG Singapore PBD for Jamaican Gold Limited 9 DB (Malaysia) Nominee (Asing) Sdn Bhd 14,000,754 0.99 – Deutsche Bank AG Singapore PBD for Tien Shia International Limited 10 UOBM Nominees (Asing) Sdn Bhd 13,980,582 0.99 – Deutsche Bank AG Singapore Branch (PBD) for Water City Limited 11 Malaysia Nominees (Tempatan) Sendirian Berhad 11,750,040 0.83 – Great Eastern Life Assurance (Malaysia) Berhad (Par 1) 12 Pertubuhan Keselamatan Sosial 10,020,091 0.71 13 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 9,887,447 0.70 14 HSBC Nominees (Asing) Sdn Bhd – Abu Dhabi Investment Authority 8,443,401 0.60 ANALYSIS OF SHARE/WARRANT HOLDINGS 93 AS AT 13.10.2005 YTL CORPORATION BERHAD 05
Name No. of Shares % #
15 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 6,904,320 0.49 16 HSBC Nominees (Tempatan) Sdn Bhd 6,565,256 0.46 – Nomura Asset Mgmt SG for Employees Provident Fund 17 Amanah Raya Nominees (Tempatan) Sdn Bhd 5,654,300 0.40 – Skim Amanah Saham Bumiputera 18 Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 5,401,974 0.38 19 Cartaban Nominees (Asing) Sdn Bhd 5,102,567 0.36 – Government Of Singapore Investment Corporation Pte Ltd for Government Of Singapore (C) 20 Cartaban Nominees (Asing) Sdn Bhd 5,086,488 0.36 – Investors Bank And Trust Company for Ishares, Inc. 21 HSBC Nominees (Asing) Sdn Bhd 4,906,133 0.35 – JPMCB for Pacific Growth Fund (F&C Inv FD II) 22 HSBC Nominees (Asing) Sdn Bhd 4,800,000 0.34 – Universities Superannuation Scheme Limited 23 Cartaban Nominees (Asing) Sdn Bhd 4,752,942 0.34 – Exempted Japan Securities Settlement & Custody, Inc.–YTL Corporation Bhd 24 Cartaban Nominees (Asing) Sdn Bhd 4,336,166 0.31 – SSBT Fund Po01 for Morgan Stanley Investment Management Emerging Markets Trust 25 Citigroup Nominees (Tempatan) Sdn Bhd 4,131,733 0.29 – Ing Insurance Berhad (Inv–IL Par) 26 Cartaban Nominees (Tempatan) Sdn Bhd 4,014,544 0.28 – Amanah SSCM Nominees (Tempatan) Sdn Bhd for Employees Provident Fund Board (JF404) 27 Dato' Yeoh Soo Min 3,916,475 0.28 28 Elewinton Investment Limited 3,807,129 0.27 29 Cartaban Nominees (Asing) Sdn Bhd 3,750,000 0.26 – State Street Australia Fund Q3vd for Fullerton (Private) Limited 30 Citigroup Nominees (Tempatan) Sdn Bhd 3,435,406 0.24 – Prudential Assurance Malaysia Berhad (Prulink Eqty Fd)
Total 1,140,286,430 80.56
SUBSTANTIAL SHAREHOLDERS (as per register of substantial shareholders)
No. of Shares Held Name Direct % # Indirect % #
Yeoh Tiong Lay & Sons Holdings Sdn Bhd 733,437,926 51.81 – – Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 5,401,974 0.38 733,437,926* 51.81 Employees Provident Fund Board 178,050,635 12.58 – –
* Deemed interested by virtue of his interest in Yeoh Tiong Lay & Sons Holdings Sdn Bhd pursuant to Section 6A of the Companies Act, 1965. 94 ANALYSIS OF SHARE/WARRANT HOLDINGS YTL CORPORATION BERHAD 05 AS AT 13.10.2005
Type of Securities : 1997/2007 Warrants Voting rights : One vote per 1997/2007 warrant holder on a show of hands or one vote per 1997/2007 warrant on a poll in respect of meeting of 1997/2007 warrant holders
DISTRIBUTION OF 1997/2007 WARRANT HOLDINGS
No. of 1997/2007 No. of Warrant 1997/2007 Size of Holding Holders % Warrants %
Less than 100 77 5.58 3,746 0.00 100 – 1,000 433 31.40 223,637 0.29 1,001 – 10,000 743 53.88 2,113,379 2.77 10,001 – 100,000 98 7,11 2,352,995 3.08 100,001 to less than 5% of issued warrants 26 1.89 8,198,691 10.74 5% and above of issued warrants 2 0.14 63,447,851 83.12
Total 1,379 100.00 76,340,299 100.00
THIRTY LARGEST 1997/2007 WARRANT HOLDERS (without aggregating securities from different securities accounts belonging to the same person)
No. of 1997/2007 Name Warrants %
1 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 56,333,285 73.79 2 DB (Malaysia) Nominee (Asing) Sdn Bhd 7,114,566 9.32 – Deutsche Bank AG Singapore PBD for Water City Limited 3 DB (Malaysia) Nominee (Asing) Sdn Bhd 1,087,392 1.42 – Deutsche Bank AG Singapore PBD for Tien Shia International Limited 4 Seri Yakin Sdn Bhd 960,000 1.26 5 DB (Malaysia) Nominee (Asing) Sdn Bhd 720,000 0.94 – Deutsche Bank AG Singapore PBD for Velvet Properties Limited 6 DB (Malaysia) Nominee (Asing) Sdn Bhd 720,000 0.94 – Deutsche Bank AG Singapore PBD for Jamaican Gold Limited 7 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 573,600 0.75 8 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 444,500 0.58 9 Amsec Nominees (Asing) Sdn Bhd 367,200 0.48 – Kim Eng Securities Pte Ltd for TH Investments Pte Ltd 10 Ng Chwee Cheng 323,720 0.42 11 Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 298,920 0.39 12 Elewinton Investment Limited 233,280 0.31 13 Sharikat Kim Loong Sendirian Berhad 200,000 0.26 14 Cartaban Nominees (Asing) Sdn Bhd 185,600 0.24 – State Street Australia Fund Q3vd for Fullerton (Private) Limited ANALYSIS OF SHARE/WARRANT HOLDINGS 95 AS AT 13.10.2005 YTL CORPORATION BERHAD 05
No. of 1997/2007 Name Warrants %
15 Dato' Yeoh Soo Min 180,000 0.24 16 Citigroup Nominees (Asing) Sdn Bhd 178,800 0.23 – Merrill Lynch International 17 Dato' Yeoh Seok Kian 175,200 0.23 18 Dato' Yeoh Seok Hong 172,800 0.23 19 Southern Investment Bank Berhad 171,600 0.22 – Employee's Provident Fund 20 Ding Hock Hing 161,162 0.21 21 Dato’ Yeoh Soo Keng 156,000 0.20 22 Puan Sri Datin Seri Tan Kai Yong @ Tan Kay Neong 146,400 0.19 23 Datin Tan Siew Bee 145,200 0.19 24 Dato' Michael Yeoh Sock Siong 144,000 0.19 25 Paw Poe Choo 133,600 0.18 26 Fong Siew Fang 109,700 0.14 27 Mayban Securities Nominees (Tempatan) Sdn Bhd 106,000 0.14 – Pledged Securities Account for Lim Kim Chuan & Sons Holdings Sdn Bhd (REM 196) 28 Datin Kathleen Chew Wai Lin 104,017 0.14 29 Yeo Geok Goh 93,800 0.12 30 Tng Geok Tin 90,000 0.12
Total 71,830,342 94.07
Type of Securities : 1999/2009 Warrants Voting rights : One vote per 1999/2009 warrant holder on a show of hands or one vote per 1999/2009 warrant on a poll in respect of meeting of 1999/2009 warrant holders
DISTRIBUTION OF 1999/2009 WARRANT HOLDINGS
No. of 1999/2009 No. of Warrant 1999/2009 Size of Holding Holders % Warrants %
Less than 100 61 1.35 2,213 0.00 100 – 1,000 946 20.97 733,849 0.23 1,001 – 10,000 2,769 61.37 9,838,108 3.06 10,001 – 100,000 623 13.81 19,036,929 5.93 100,001 to less than 5% of issued warrants 111 2.46 96,261,119 29.98 5% and above of issued warrants 2 0.04 195,184,914 60.80
Total 4,512 100.00 321,057,132 100.00 96 ANALYSIS OF SHARE/WARRANT HOLDINGS YTL CORPORATION BERHAD 05 AS AT 13.10.2005
THIRTY LARGEST 1999/2009 WARRANT HOLDERS (without aggregating securities from different securities accounts belonging to the same person)
No. of 1999/2009 Name Warrants %
1 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 178,116,597 55.48 2 DB (Malaysia) Nominee (Asing) Sdn Bhd 17,068,317 5.32 – Deutsche Bank AG Singapore PBD for Jamaican Gold Limited 3 Employees Provident Fund Board 11,266,220 3.51 4 Yeoh Tiong Lay & Sons Holdings Sdn Bhd 7,771,700 2.42 5 DB (Malaysia) Nominee (Asing) Sdn Bhd 7,396,289 2.30 – Deutsche Bank AG Singapore PBD for Tien Shia International Limited 6 Seri Yakin Sdn Bhd 6,681,876 2.08 7 DB (Malaysia) Nominee (Asing) Sdn Bhd 6,169,758 1.92 – Deutsche Bank AG Singapore PBD for Steeloak International Limited 8 HSBC Nominees (Asing) Sdn Bhd 5,364,000 1.67 – JPMCB for Flawless Beauty Ltd 9 DB (Malaysia) Nominee (Asing) Sdn Bhd 5,104,200 1.59 – Deutsche Bank AG Singapore PBD for Water City Limited 10 DB (Malaysia) Nominee (Asing) Sdn Bhd 4,214,100 1.31 – Deutsche Bank AG Singapore PBD for Windchime Developments Limited 11 DB (Malaysia) Nominee (Asing) Sdn Bhd 4,034,100 1.26 – Deutsche Bank AG Singapore PBD for Orchestral Harmony Limited 12 DB (Malaysia) Nominee (Asing) Sdn Bhd 2,910,000 0.91 – Deutsche Bank AG Singapore PBD for Velvet Properties Limited 13 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 2,147,472 0.67 14 Alliancegroup Nominees (Asing) Sdn Bhd 1,636,000 0.51 – Pledged Securities Account for Lee Chin Weng (100685) 15 Ke–Zan Nominees (Asing) Sdn. Bhd. 1,600,000 0.50 – Kim Eng Securities Pte. Ltd. for Lim Chuan Seng 16 Roger Arthur Bambrough 1,335,900 0.42 17 Citigroup Nominees (Asing) Sdn Bhd 1,162,000 0.36 – UBS AG for Artradis Barracuda Fund 18 Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 1,117,350 0.35 19 Sally Shirley Bambrough 1,091,900 0.34 20 Tang Kee Hiong 965,000 0.30 21 Standpoint Holdings Sdn Bhd 900,000 0.28 22 Universal Trustee (Malaysia) Berhad 875,000 0.27 – SBB Dana Al–Mizan 23 Elewinton Investment Limited 874,800 0.27 24 Dato' Yeoh Soo Min 775,098 0.24 25 Ong Siok Liang 770,000 0.24 26 Dato' Yeoh Seok Kian 655,866 0.20 27 Dato’ Yeoh Soo Keng 654,600 0.20 28 Dato' Yeoh Seok Hong 648,372 0.20 29 Gooi Seong Lim 600,000 0.19 30 Mayban Nominees (Tempatan) Sdn Bhd 551,600 0.17 – Pledged Securities Account for John Leong Chung Hin (11195AW0689)
Total 274,458,115 85.48 STATEMENT OF DIRECTORS’ INTERESTS 97 IN THE COMPANY & RELATED CORPORATIONS AS AT 13.10.2005 YTL CORPORATION BERHAD 05
The Company
YTL CORPORATION BERHAD
No. of Shares Held No. of Share Name Direct % Indirect % Options
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 5,401,974 0.38 733,437,926 51.81 7,500,000 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 9,887,447 0.70 – – 7,500,000 Dato' Yeoh Seok Kian 3,396,010 0.24 – – 5,250,000 Dato' Yeoh Soo Min 3,916,475 0.28 – – 4,500,000 Dato' Yeoh Seok Hong 3,363,690 0.24 – – 4,500,000 Dato' Michael Yeoh Sock Siong 2,933,997 0.21 – – 4,500,000 Dato’ Yeoh Soo Keng 3,392,166 0.24 – – 4,500,000 Dato' Mark Yeoh Seok Kah 1,746,248 0.12 – – 4,500,000 Syed Abdullah Bin Syed Abd. Kadir 2,611–––4,500,000
No. of 1997/2007 Warrants Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 298,920 0.39 56,881,785 74.51 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 573,600 0.75 – – Dato' Yeoh Seok Kian 175,200 0.23 – – Dato' (Dr) Yahya Bin Ismail 34,320 0.04 – – Dato' Yeoh Soo Min 180,000 0.24 – – Dato' Yeoh Seok Hong 172,800 0.23 – – Dato' Michael Yeoh Sock Siong 144,000 0.19 – – Dato’ Yeoh Soo Keng 156,000 0.20 – –
No. of 1999/2009 Warrants Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 1,117,350 0.35 186,308,397 58.03 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 2,147,472 0.67 – – Dato' Yeoh Seok Kian 655,866 0.20 – – Dato' (Dr) Yahya Bin Ismail 110,550 0.03 – – Dato' Yeoh Soo Min 775,098 0.24 – – Dato' Yeoh Seok Hong 648,372 0.20 – – Dato' Michael Yeoh Sock Siong 550,110 0.17 – – Dato’ Yeoh Soo Keng 654,600 0.20 – – Dato' Mark Yeoh Seok Kah 271,800 0.08 – – Syed Abdullah Bin Syed Abd. Kadir 600––– 98 STATEMENT OF DIRECTORS’ INTERESTS YTL CORPORATION BERHAD 05 IN THE COMPANY & RELATED CORPORATIONS AS AT 13.10.2005
Holding Company
YEOH TIONG LAY & SONS HOLDINGS SDN BHD
No. of Shares Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 8,220,004 20.18 – – Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 5,000,000 12.28 – – Dato' Yeoh Seok Kian 5,000,000 12.28 – – Dato' Yeoh Soo Min 1,250,000 3.07 – – Dato' Yeoh Seok Hong 5,000,000 12.28 – – Dato' Michael Yeoh Sock Siong 5,000,000 12.28 – – Dato' Yeoh Soo Keng 1,250,000 3.07 – – Dato' Mark Yeoh Seok Kah 5,000,000 12.28 – –
Subsidiary Companies
YTL CEMENT BERHAD
No. of Shares Held No. of Share Name Direct % Indirect % Options
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 1,681,634 0.35 250,124,222 51.76 1,400,000 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 1,681,634 0.35 – – 1,400,000 Dato' Yeoh Seok Kian 618,754 0.13 – – 350,000 Dato' (Dr) Yahya Bin Ismail 81,536 0.02––– Mej Jen (R) Dato' Haron Bin Mohd Taib 44,428 0.01––– Dato' Yeoh Soo Min 225,634 0.05––– Dato' Yeoh Seok Hong 225,634 0.05––– Dato' Michael Yeoh Sock Siong 1,265,634 0.26 – – 1,000,000 Dato' Yeoh Soo Keng 818,251 0.17 – – 700,000 Dato' Mark Yeoh Seok Kah 187,200 0.04–––
YTL E–SOLUTIONS BERHAD
No. of Shares Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay – – 1,000,017,000 74.08 Dato' (Dr) Yahya Bin Ismail 527,000 0.04 – – Syed Abdullah Bin Syed Abd. Kadir 300,000 0.02 – – STATEMENT OF DIRECTORS’ INTERESTS 99 IN THE COMPANY & RELATED CORPORATIONS AS AT 13.10.2005 YTL CORPORATION BERHAD 05
YTL LAND & DEVELOPMENT BERHAD
No. of Shares Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay – – 217,856,300 63.21
No. of Irredeemable Convertible Preference Shares 2001/2011 Held Name Direct % Indirect %
Dato' Yeoh Seok Kian 240,000 0.08 – –
No. of Irredeemable Convertible Preference Shares 2003/2008 Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay – – 370,285,058 66.02
YTL POWER INTERNATIONAL BERHAD
No. of Shares Held No. of Share Name Direct % Indirect % Options
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay 780,278 0.02 2,935,283,144 60.61 14,000,000 Tan Sri Dato' (Dr) Francis Yeoh Sock Ping 3,905,834 0.08 – – 14,000,000 Dato' Yeoh Seok Kian 669,194 0.01 – – 6,000,000 Dato' (Dr) Yahya Bin Ismail 602,132 0.01 – – – Mej Jen (R) Dato' Haron Bin Mohd Taib 101,836–––– Dato' Yeoh Soo Min 578,108 0.01 – – 6,000,000 Dato' Yeoh Seok Hong 485,322 0.01 – – 10,000,000 Dato' Michael Yeoh Sock Siong 410,829 0.01 – – 6,000,000 Dato' Yeoh Soo Keng 482,913 0.01 – – 6,000,000 Dato' Mark Yeoh Seok Kah 1,693,134 0.03 – – 6,000,000 Syed Abdullah Bin Syed Abd. Kadir 392,038 0.01 – – 6,000,000
No. of Warrants Held Name Direct % Indirect %
Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay – – 748,920,488 70.24 Dato' (Dr) Yahya Bin Ismail 140,000 0.01 – – Mej Jen (R) Dato' Haron Bin Mohd Taib 24,000 – – – Syed Abdullah Bin Syed Abd. Kadir 87,000 0.01 – –
By virtue of Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay deemed interests in the shares of the Company pursuant to section 6A of the Companies Act, 1965 through Yeoh Tiong Lay & Sons Holdings Sdn Bhd, Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay is deemed to have interests in the shares of the subsidiaries of the Company to the extent the Company has an interest. 100 SCHEDULE OF SHARE BUY–BACK YTL CORPORATION BERHAD 05 FOR THE FINANCIAL YEAR ENDED 30.06.2005
No. of Shares Purchased & Purchase Price Average Cost Retained As Per Share (RM) Per Share Total Cost Monthly Breakdown Treasury Shares Lowest Highest RM RM
July 2004 6,427,500 4.38 4.84 4.7072 30,255,542.08 August 2004 1,773,700 4.32 4.60 4.4753 7,937,771.08 September 2004 10,363,200 4.34 4.70 4.5410 47,059,343.73 October 2004 4,475,100 4.40 4.60 4.5171 20,214,612.12 November 2004 8,637,200 4.54 5.10 4.8899 42,235,198.31 December 2004 16,708,500 5.20 5.50 5.3780 89,857,835.09 January 2005 7,605,100 5.25 5.65 5.5394 42,127,559.37 February 2005 24,086,200 5.10 5.50 5.2819 127,222,032.31 March 2005 22,947,300 5.10 5.85 5.5534 127,435,588.10 April 2005 13,259,400 5.20 5.70 5.5494 73,581,381.59 May 2005 7,443,400 5.00 5.50 5.3045 39,483,259.60 June 2005 4,179,900 5.10 5.40 5.3384 22,314,112.58
Total 127,906,500 4.32 5.85 5.2360 669,724,235.96
During the financial year, all the shares purchased by the Company were retained as treasury shares. On 21 February, 2005, a total of 91,257,845 treasury shares were distributed as share dividend to the shareholders on the basis of one (1) treasury share for every fifteen (15) ordinary shares held on 4 February, 2005. As at 30 June, 2005, the number of treasury shares is 103,725,005. None of the treasury shares were resold or cancelled during the financial year. LIST OF PROPERTIES 101 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Lot 6416 & 6435 Freehold 119.28 Oil palm – – – 2,000 Mukim Johol ha plantation State of Negeri Sembilan
Lot 8907, 8909, 8911 Freehold 38.26 Industrial land 6,013.2 22 – 4,357 to 8914, 8931 & 11170/1 ha with 1 storey Mukim Bagan Serai brick factory District of Kerian State of Perak
Lot 946, 976, 2181 Freehold 22.43 Agricultural land/ – – – 2,102 3169/4 & 3802/3 ha Industrial land Mukim Port Dickson with factory State of Negeri Sembilan building
Lot 876 (Mukim Pontian) Freehold 6.07 Agricultural land – – – 200 Lot 1055 (Mukim Endau) ha Lot 737 (Mukim Bebar) Daerah Rompin State of Pahang
Lot 3434, Gm 398 Freehold 3.71 Industrial land 13,183 7 – 5,544 9th Mile, Mukim Kapar ha with 3 double Kelang, State of Selangor storey factory
GM 161, Lot 1387 Freehold 2.04 Vacant land – – – 112 Mukim Kuala Paka ha Dungun State of Terengganu
QT (R), 23/PTKS 3/33/65 Leasehold 4,046.86 Vacant land – – Year 2028 175 Lot 9 sq.m. Mukim Kuala Selangor Daerah Kuala Selangor State of Selangor
Lot 20 to 29, Section 1 Leasehold 4,026.00 Commercial land – – Year 2023 579 Pekan Sungai Buloh sq.m. State of Selangor
* Details not stated on titles. 102 LIST OF PROPERTIES YTL CORPORATION BERHAD 05 AS AT 30.06.2005
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Lot 30, 31, 32 and Freehold 2,590.41 Commercial land – – – 950 62 to 66 sq.m. Mukim Tanjong Karang Daerah Kuala Selangor Selangor
Lot 4935 and 4952 Freehold 1,024.35 Industrial land 13,688 4 – 9 – 6,420 Batu 53/4, Jalan Meru sq.m. with 1 block of Mukim Kapar factory and Kelang, Selangor 4 blocks of steel factories
Lot 2228 to 2229 Freehold 287.44 5 storey office 703.8 23 – 2,756 CT 13478/13479 sq.m. building Section 41 Town of Kuala Lumpur
Lot 665, CT 13477 Freehold 72.048 Vacant land 529.38 Pre-war – 366 Mukim of Kuala Lumpur sq.m.
Grant 11013-11014 Freehold 392.88 Vacant land – – – 240 Lot 21 to 22 sq.m. Mukim Kelang Daerah Kelang State of Selangor
G19584/4/1069-4-4 Freehold 288.5 3rd floor of a 288.5 30 – 282 Parcel no 1069-4-4 sq.m. 4 storey Wilayah Persekutuan shophouse
Geran 10020/M1/18/2 Freehold 139.36 Condominium 139.4 19 – 368 Lot 41276, 299-19-2 sq.m. apartment Menara Bangsar Jalan Maarof Kuala Lumpur
CT 7404 Freehold 123.40 51/2 storey office 598.8 37 – 1,951 Lot 70, Section 13 sq.m. building Town of Kuala Lumpur
* Details not stated on titles. LIST OF PROPERTIES 103 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
14th Floor, Bonds Tower Freehold 104.5 Apartment 104.5 21 – 221 Jalan Horley sq.m. Kuala Lumpur of Federal Territory
Lot 948 Freehold 0.7588 Agriculture land – – – 30 Mukim Port Dickson ha Daerah Port Dickson Tanjong Gelam Seremban
G 19584, Pelan 1069-4-5 Freehold 149 3rd floor of 149 29 – 206 Lot 1069, Section 57 sq.m. 4 storey Kuala Lumpur shophouse
GRN 26745, Lot 106 & Freehold 7,963 72 units of 7,963 11 – 14,313 GRN 27114, Lot 107 sq.m. condominium Bandar Kuala Lumpur known as Vistana Apartments
Unit F-02-1, F-02-2 & Leasehold 390 3 units of 390 13 Year 2090 441 F-02-4 Phase 1 sq.m. condominium Pantai Hillpark known as Jalan Pantai Dalam Pantai Hillpark Kuala Lumpur
A sublease over land Leasehold 15 9 estates 25,084 7 Year 2095 63,266 held under HS (D) 8331 acres Marina Bay PT 7044 Resort Mukim of Lumut Daerah Manjung Perak Darul Ridzuan
No 1, Clifton Place Freehold * Residential 2,400 14 – 3,557 London SW 10 sq. ft. Hollywood Road Kensington Title No NGI 692081
* Details not stated on titles. 104 LIST OF PROPERTIES YTL CORPORATION BERHAD 05 AS AT 30.06.2005
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Fairwinds, London Road Freehold * Residential * 75 – 4,495 Virgin Water Title No SY461901
Lane's End Freehold * Residential * * – 9,242 Portnall Drive London Road Title No SY394312
Room 2610-2611 Leasehold 3,144 Office Space 3,144 18 Year 2059 20,307 Tower Two sq.ft. Lippo Centre Hong Kong
Land known as Site 7 Leasehold * Resort known as – – 3 consecutive 4,770 on the piece of land Layan Headland periods of covered by Sorkor1 Resort 30 years No 423 located at upon grant of Cheng Talay master lease Sub district Thalong District Phuket Province Thailand
Lot 14-B, 14-C and 14-D Freehold 29,298 Residential – – – 7,284 Majada del Madrorid sq.m. District of Benahavis Spain
G24619, Lot 254 Freehold 1600 1 storey 2,010 Pre-war – 316 Section 19 sq.m. residential sq ft. Town of Kuala Lumpur building
Parcel No M1-D Freehold 5,888 4 units of 5,888 7 – 1,051 M2-J, K2-B sq.ft. condominium sq.ft. Kampong Warisan known as Kuala Lumpur Kampong Warisan
HS (D) 84475 PT 59 Freehold 200.69 5-storey 736.56 7 – 1,965 Seksyen 84 sq.m. shop office Bandar Kuala Lumpur
* Details not stated on titles. LIST OF PROPERTIES 105 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
CT 4253, Lot 73 Freehold 229.84 3 storey 689.5 Pre-war – 1,982 Section 17 sq.m. shophouse Town of Kuala Lumpur building
Title deed no 8874 Freehold 177 Office 177 13 – 960 Tambol Samsen Nai sq.m. condominium (North) Amphur Payathai (Babsue) Bangkok, Thailand
PN 11008, Lot 1247 Leasehold 10,138 6 storey shopping 60,147 15 Year 2076 101,244 Section 67 sq.m. complex known Town and District of as Lot 10 and an Kuala Lumpur annexe block of office
Part of Grant No 28678 Freehold 12,338 32 storey hotel 136,879 10 – 371,228 Lot No 1267, Section 67 sq.m. known as Town and District of JW Marriott and Kuala Lumpur 7 storey shopping complex known as Star Hill
HS (D) 4211 PT No 1678 Leasehold 0.8155 1 unit of hotel 40,244.48 6 Year 2094 72,461 Daerah Timur Laut ha block/apartment Negeri Pulau Pinang known as Vistana, Penang
Lot 37, Sek 20 Leasehold 3,318.42 Industrial land 2,092.30 28 Year 2058 4,074 Town of Petaling Jaya sq.m. with 1 storey State of Selangor building
Master Title HS (M) Leasehold 2,731 Office space 2,731 7 Year 2094 648 8544, PT 5134 sq.m. Mukim Damansara
8th Floor, Menara ING Freehold 832.78 Office space 832.78 20 – 5,274 Jalan Raja Chulan sq.m. Kuala Lumpur of Federal Territory
* Details not stated on titles. 106 LIST OF PROPERTIES YTL CORPORATION BERHAD 05 AS AT 30.06.2005
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Parcel No. C-7-03 Leasehold 8,556 3 units of 8,556 4 Strata titles 1,547 C-7-08, A-7-04 sq. ft. condominiums sq. ft. not issued yet Kelab Golf known as Sultan Aziz Shah Sri Alam
Parcel No. 2-12-A2 Freehold 1,325 1 unit of 1,325 6 – 288 Phase 1B sq. ft. condominium sq. ft. Ratu Mutiara
Parcel No. B-28-006 Freehold 3,710 6 units of 3,710 4 – 1,676 to B-28-011 sq. ft. service suite sq. ft. Berjaya Times Square
Plot No. 020, Phase 2B Freehold 7,222 3 storey office at 7,222 4 – 630 Bandar Tasik Kesuma sq.ft. Bandar Tasik sq.ft. Kesuma
Grant No 25142/3/4 Freehold 25 Vacant land – – – 1,526 Lot 1806-1808 acres Mukim of Serendah Daerah Hulu Selangor
HS (D) 60573 Leasehold 0.809 Industrial land – – Year 2067 933 Lot A/607573 ha with batching Mukim Kuala Lumpur plant
Geran 44701, Lot 20213 Freehold 1,524 11 units of 1,524 20 – 2,546 Bandar Johor Bahru sq.m. apartments Johor known as Indera Putera Courts
PM 82, Lot 7445 Freehold 353 4 units of 353 15 – 336 Mukim of Ulu Kelang sq.m. apartments Ampang, Selangor known as Tudor Courts
Pajakan Negeri Leasehold 4,237 Industrial land – – Year 2067 1,776 No 10023/Lot 45609 sq.m. Mukim of Kuala Lumpur
* Details not stated on titles. LIST OF PROPERTIES 107 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Sublease from Leasehold 107,888 Slag cement 6,752 9 Year 2024 85,527 Port Klang Authority sq.m. plant Selangor
Sublease of part of a land Leasehold 35,810 Slag cement 7,796 9 Year 2022 71,283 held under master title sq.m. plant HS (D) 238642 PT: D119841 Mukim Plentong Daerah Johor Bahru Negeri Johor
HS (D) 606, Lot No. 4150 Freehold – 2 units of 130.06 – – 246 Mukim Tanjung Bunga apartments Pulau Pinang known as Azuria
Land title under title Leasehold 202.4 Pahang Cement 759,480 7 Year 2061 414,517 HS (D) 00013857 hektar Plant 00011079, 00015538 PT 000980, PT 000991 Mukim Ulu Kuantan Pahang
Geran 31549 Freehold 387,684 Land with factory 11,603 5 – 8,051 Lot No. 3792 sq. ft. building Mukim & District of Klang Selangor
Claverton Down Freehold 27,100 Head Office 5,640 5 – 186,788 Bath sq.m.
Nuffield Road Freehold 16,800 Office 2,400 38 – 6,868 Poole sq.m. Dorset
Kennet Way Freehold 7,400 Office and depot 654 15 – 10,962 Trowbridge sq.m. Wiltshire
* Details not stated on titles. 108 LIST OF PROPERTIES YTL CORPORATION BERHAD 05 AS AT 30.06.2005
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Galmington Leasehold 4,900 Office and depot 758 33 24.12.2009 872 Taunton sq.m. Somerset
Grosvener House Freehold 3,100 Office let to 1,227 13 – 19,568 Bath sq.m. 3rd party
West Quay Freehold 7,700 Office 564 30 – 150 – 1,119 Bridgwater sq.m. (Redundant) Somerset
Lot No PT 2467 Leasehold 16.187 Power plant – 10 Year 2018 1,448,767 HS (D) 340 ha Mukim of Kuala Paka Terengganu
Lot No PT 64062 Leasehold 2.0577 Power plant – 10 Year 2018 741,054 HS (D) 69515 ha Mukim of Plentong Johor
Lot 3870, CT 16290 Freehold 1 Development – – – 300 Mukim of Setul acre Land District of Seremban
CT 21247, Lot 1839 Freehold 0.483 2 storey detached 1,078.23 10 – 5,384 Mukim of Ampang acres house for District of Kuala Lumpur residential use
Section 83 & 84 Freehold 37.592 Golf Land – – – 3,608 Bandar Kuala Lumpur acres Wilayah Persekutuan 47.212 Development – – – 25,000 and Mukim Batu acres Land Kuala Lumpur
HS (M) 8968 Freehold 153 Single terrace 153 10 – 1,503 PT No 11816 sq.m. house Mukim of Kapar District of Klang Selangor
* Details not stated on titles. LIST OF PROPERTIES 109 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
Geran 15978 Freehold 549 Single storey 137 10 – 84 Lot 14924 sq.m. detached house Mukim Kuala Lumpur 83, Jalan Maarof Bangsar, 59000 Kuala Lumpur
Lot 2124/U3 Freehold 1,692 2 units of 1,692 10 – 3,647 Mukim 2, Tanglin sq.m. apartments Singapore
Lot 3821/U65 Mukim 4, Ulu Pandan Singapore
No. 3, Clifton Place Freehold * Residential 2,400 14 – 10,707 London SW10 Hollywood Road Kensington Title No. BGL 4544
Geran 31549 Freehold 387,684 Land with factory 11,603 5 – 8,051 Lot No. 3792 sq. ft. building Mukim & District of Klang Selangor
QT (R) 479, TLO No. 443 Leasehold 3.875 Industrial land – – Year 2038 2,081 District of Johor Bahru acres with batching Johor plant
PT No. 6017 Leasehold 3.875 Industrial land – – Year 2038 2,081 H.S. (D) 22115 acres with batching Bandar Johor Bahru plant Daerah Johor Bahru Johor
HS (D) 8557 Leasehold 4,046.86 Vacant land – – Year 2102 173 PT64, Sek 11, Lot 9 sq. m. Mukim Kuala Selangor Daerah Kuala Selangor State of Selangor
* Details not stated on titles. 110 LIST OF PROPERTIES YTL CORPORATION BERHAD 05 AS AT 30.06.2005
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
HS (D) 1034 to 1037 Leasehold 1,712.00 Commercial land – – Year 2097 245 Lot Nos. PT 20 to PT 23 sq. m. – Vacant Mukim Jeram Pekan Sungai Buloh State of Selangor
HS (D) 1038 to 1043 – – Year 2090 326 Lot Nos. PT 24 to PT 29 Mukim Jeram Pekan Sungai Buloh State of Selangor
HS (D) 460/88 PT 1122 Leasehold 59.79 Cement Plant – – Year 2087 1,183,615 acres
HS (D) 461/88 PT 1123 Leasehold 0.9864 Cement Plant – – Year 2087 acres
HS (D) 2675 PT 1327 Leasehold 22.21 Cement Plant – – Year 2095 acres
HS (D) 3705 PT 1417 Leasehold 1.46 Warehouse & – – Year 2096 acres Depot
HS (D) 3706 PT 1418 Leasehold 14.55 Cement Plant – – Year 2096 acres
HS (D) 2676 PT 1328 Leasehold 8.20 Cement Plant – – Year 2095 acres
HS (D) 2677 PT 1329 Leasehold 30.25 Cement Plant – – Year 2095 acres
HS (D) 2678 PT 1330 Leasehold 102.33 Cement Plant – – Year 2095 acres
HS (D) 2679 PT 1331 Leasehold 130.97 Cement Plant – – Year 2026 acres
HS (D) 2680 PT 1332 Leasehold 14.41 Cement Plant – – Year 2026 acres
* Details not stated on titles. LIST OF PROPERTIES 111 AS AT 30.06.2005 YTL CORPORATION BERHAD 05
Approximate Net Book Built Up Age of Lease Value as at Description and Area Building Expiry 30.06.2005 Location Tenure Land Area Existing Use (sq. m.) (years) Date RM’000
HS (D) 2735 PT 1326 Leasehold 28.24 Cement Plant – – Year 2095 acres
HS (D) 2737 PT 417 Leasehold 28.17 Cement Plant – – Year 2095 acres
HS (D) 2681 PT 1333 Leasehold 278.24 Cement Plant – – Year 2026 acres
HS (D) 4170 PT 1419 Leasehold 30.06 Cement Plant – – Year 2097 acres
HS (D) 4171 PT 1420 Leasehold 3.54 Cement Plant – – Year 2097 acres
HS (D) 8804 PT 1421 Leasehold 13.38 Cement Plant – – Year 2102 acres
PN00108181, Lot 2764 Leasehold 49.57 Cement Plant – – Year 2886 acres
* Details not stated on titles. This page has been intentionally left blank.