S U N C I T Y Laporan Tahunan 2 0 0 1 Annual Report
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S U N C I T Y LAPORAN TAHUNAN 2 0 0 1 ANNUAL REPORT SU N W AY CIT Y BERHAD (Co. No. 87564 - X) SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) Contents Corporate Directory 2 - 3 Corporate Information 4 - 5 Profile of Directors 6 - 10 5-Year Group Financial Summary 11 Chairman’s Statement / Penyata Pengerusi 12 - 30 Corporate Governance Statement 31 - 34 Audit Committee Report 35 - 39 Financial Statements 41 - 96 List of Properties 97 - 102 Recurrent Related Party Transactions 103 - 106 Material Contracts with Related Parties 107 Sanctions and Penalties 107 Directors’ Interests in Shares and Options 108 Analysis of Shareholdings 109 - 111 Notice of 19th Annual General Meeting 112 - 114 Statement Accompanying Notice of 19th Annual General Meeting115 - 118 Proxy Form 1 SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) Corporate Directory of Main Operating Companies PROPERTY DEVELOPMENT PROPERTY INVESTMENT SUNWAY CITY BERHAD SUNWAY PYRAMID SDN BHD SUNWAY DAMANSARA SDN BHD LL1.10,SUNWAY PYRAMID SHOPPINGMALL SUNWAY KINRARA SDN BHD NO. 3,JALAN PJS 11/15, BANDAR SUNWAY PENA ENTERPRISE SDN BHD 46150 PETALING JAYA SUNWAY MONTEREZ SDN BHD TEL : (03) 7492-6668 FAX : (03) 7492-6333 SUNWAY TOWNHOUSE SDN BHD (Formerly known as Ace Engineering Services Sdn Bhd) SUNWAY D’MONT KIARA SDN BHD STELLAR DESTINY SDN BHD SUNWAY RAHMAN PUTRA SDN BHD MENARA SUNWAY SDN BHD LEVEL 1-3 MENARA SUNWAY LEVEL 1-3, MENARA SUNWAY JALAN LAGOON TIMUR, BANDAR SUNWAY JALAN LAGOON TIMUR 46150 PETALING JAYA BANDAR SUNWAY TEL : (03) 5635-8886 46150 PETALING JAYA FAX : (03) 5636-5688 TEL : (03) 5635-8886 FAX : (03) 5636-5688 SUNWAY TUNAS SDN BHD SUNWAY CITY (PENANG) SDN BHD LEISURE & ENTERTAINMENT NO 1-D 4TH FLOOR SUNWAY LAGOON SDN BHD DESA RAHMAT, JALAN RELAU 11900 BAYAN LEPAS,PENANG SUNWAY MONORAIL SDN BHD TEL : (04) 643-9898 FAX : (04) 644-1313 3 JALAN PJS 11/11, BANDAR SUNWAY 46150 PETALING JAYA TEL : (03) 5635-8000 SUNWAY CITY (IPOH) SDN BHD FAX : (03) 5635-5050 NO. 2A,PERSIARAN SCI 2/1, SUNWAY CITY IPOH 31150 IPOH,PERAK INTERNATIONAL THEME PARK PTY LTD TEL : (05) 548-6668 FAX : (05) 548-6868 WALLGROVE ROAD, EASTERN CREEK NSW 2766, AUSTRALIA TEL : 00-6102-98309100 SUNWAY SEMENYIH SDN BHD FAX : 00-6102-96752002 NO. 103 JALAN 1/3, BANDAR TECHNOLOGY KAJANG SUNWAY TRAVEL SDN BHD 43500 SEMENYIH,SELANGOR TEL : (03) 813-3131 LOBBY LEVEL, MENARA SUNWAY FAX : (03) 813-3030 JALAN LAGOON TIMUR, BANDAR SUNWAY 46150 PETALING JAYA TEL : (03) 5632-5622 SUNWAY AUSTRALIA UNIT TRUST FAX : (03) 5632-4781 HARTFORD LANE PTY LTD WALLGROVE ROAD, EASTERN CREEK NSW 2766, AUSTRALIA TEL : 00-6102-98309100 FAX : 00-6102-96752002 2 SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) SUNWAY LAGOON CLUB BERHAD SUNWAY HOTEL PHNOM PENH LTD 3 JALAN LAGOON TIMUR 1,STREET 92 BANDAR SUNWAY, 46150 PETALING JAYA SANGKAT WAT PHNOM TEL : (03) 5636-1188 P.O. BOX 633 FAX : (03) 5636-4889 PHNOM PENH 12202 KINGDOM OF CAMBODIA TEL : 00-855-23-430333 PYRAMID BOWL SDN BHD FAX : 00-855-23-430339 LOT F2.22, SUNWAY PYRAMID SHOPPING MALL NO. 3, JALAN PJS 11/15, BANDAR SUNWAY ALLSON INTERNATIONAL HOLDINGS LTD 46150 PETALING JAYA ALLSON INTERNATIONAL HOTELS & TEL : (03) 7492-6307/8/9 RESORTS (H.K.) LIMITED FAX : (03) 7492-6310 ALLSON INTERNATIONAL HOTELS & RESORTS (B.V.I.) LIMITED HOTELS & HOSPITALITY ALLSON INTERNATIONAL MANAGEMENT LIMITED SUNWAY RESORT HOTEL SDN BHD LEVEL 15, SU N W AY LAGOON RESORT HOTE L PERSIARAN LAGOON, BANDAR SUNWAY PERSIARAN LAGOON, BANDAR SUNWAY 46150 PETALING JAYA 46150 PETALING JAYA TEL : (03) 7492-8000 TEL : (03) 7492-5222 FAX : (03) 7492-8001 FAX : (03) 7492-0636 & SUNWAY HOTEL (PENANG) SDN BHD 2410 DOMINION CENTRE 33 NEWLANE,GEORGETOWN 43-59 QUEEN’S ROAD EAST 10400 PENANG WANCHAI TEL : (04) 229-9988 HONG KONG FAX : (04) 228-8899 TEL : 00-852-28668360 FAX : 00-852-25290756 SUNWAY HOTEL (SEBERANG JAYA) SDN BHD HEALTHCARE NO. 11,LEBUH TENGGIRI DUA SUNWAY MEDICAL CENTRE SDN BHD PUSAT BANDAR BANDAR SEBERANG JAYA SEBERANG JAYA,13700 PRAI NO. 5,JALAN LAGOON SELATAN TEL : (04) 370-7788 BANDAR SUNWAY FAX : (04) 370-0555 46150 PETALING JAYA TEL : (03) 7491-9191 FAX : (03) 7491-8181 3 SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) Corporate Information BOARD OF DIRECTORS EXECUTIVE COMMITTEE OF THE BOARD Non-Executive Chairman Wong Choon Kee (Chairman) Tan Sri Dato’ Seri (Dr) Cheah Fook Ling Yau Kok Seng Ngian Siew Siong Executive Deputy Chairman Ngeow Voon Yean Dato’ Razman M Hashim Ong Pang Yen Lim Swe Guan Managing Director Wang Yeong Khang (Alternate to Yau Kok Seng) Wong Choon Kee Deputy Managing Directors NOMINATION COMMITTEE Ngian Siew Siong Ngeow Voon Yean Tan Sri Dato’ IR Talha Bin Haji Mohd Hashim (Chairman & Senior Independent Non-Executive Direc t o r ) Senior Independent Non-Executive Director Tan Sri Dato’ IR Talha Bin Haji Mohd Hashim Teo Tong How (Independent Non-Executive Director) Independent Non-Executive Directors Teo Tong How Tan Sri Dato’ Seri (Dr) Cheah Fook Ling Tan Siak Tee (Non-Independent Non-Executive Director) Non-Independent Non-Executive Directors Low Siew Moi (f) REMUNERATION COMMITTEE Lim Swe Guan (Appointed on 6 March 2002) Teo Cheng Hiang, Ri c h a r d (Resigned on 18 Feb r u a r y 2002) Tan Sri Dato’ IR Talha Bin Haji Mohd Hashim (Chairman & Senior Independent Non-Executive Direc t o r ) Teo Tong How AUDIT COMMITTEE (Independent Non-Executive Director) Tan Sri Dato’ IR Talha Bin Haji Mohd Hashim Tan Sri Dato’ Seri (Dr) Cheah Fook Ling (Chairman & Senior Independent Non-Executive Direc t o r ) (Non-Independent Non-Executive Director) Teo Tong How (Independent Non-Executive Director) SECRETARIES Tan Siak Tee (Independent Non-Executive Director) Puan Sri Datin Seri Susan Cheah Seok Cheng (MIA 5601) Ngian Siew Siong (Deputy Managing Director) Tan Kim Aun (MAICSA 7002988) EMPLOYEE SHARE OPTION REGISTERED OFFICE SCHEME COMMITTEE Tan Sri Dato’ Seri (Dr) Cheah Fook Ling Level 16,Menara Sunway Dato’ Razman M Hashim Jalan Lagoon Timur Wong Choon Kee Bandar Sunway 46150 Petaling Jaya Selangor Darul Ehsan Malaysia Tel No.: (03) 5635-8889 Fax No.:(03) 5634-1349 4 SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) (Seated L-R) Wong Choon Kee, Dato’Razman M Hashim,Tan Sri Dato’Seri (Dr) Cheah Fook Ling, Tan Sri Dato’IR Talha Bin Haji Mohd Hashim,Ngian Siew Siong, (Standing L-R) Ngeow Voon Yean,Teo Cheng Hiang,Richard,Low Siew Moi,Teo Tong How,Tan Siak Tee REGISTRAR PRINCIPAL BANKERS Sunway Management Sdn Bhd (50661-X) HSBC Bank Malaysia Berhad Level 16,Menara Sunway Malayan Banking Berhad Jalan Lagoon Timur Affin Merchant Bank Berhad Bandar Sunway Public Bank Berhad 46150 Petaling Jaya RHB Bank Berhad Selangor Darul Ehsan RHB Sakura Merchant Bankers Berhad Malaysia Tel No.: (03) 5635-8889 Fax No.:(03) 5634-1349 STOCK EXCHANGE LISTING Main Board of The Kuala Lumpur AUDITORS Stock Exchange Ernst & Young Chartered Accountants WEBSITE ADDRESS www.sunway.com.my SOLICITORS David Lingam & Co Lloyd Fernando & Razak Sidek Teoh Wong & Dennis Susie See, Norbaya & Cheah 5 SU N W AY CITY BERHAD ( 8 7 5 6 4 - X ) Profile of Directors Tan Sri Dato’ Seri (Dr) Cheah Fook Ling - Non-Executive Chairman Tan Sri Dato’ Seri (Dr) Cheah Fook Ling, Malaysian, aged 57, is the Founder of the Sunway Group and Chairman of Sunway City Berhad (“SunCity”), Sunway Holdings Incorporated Berhad and Sunway Construction Berhad which are a conglomerate of companies that are listed individually on the Main Board of the Kuala Lumpur Stock Exchange. A Certified Public Accountant by profession,he was appointed a Board member of the Financial Reporting Foundation by the Minister of Finance in July 1997. He sits on the board of The National Kidney Foundation and The Board of Trustees of the Malaysian Liver Foundation. In 1995, he was appointed a member of the Malaysian Business Council and in 1996, he was honored with the Chairmanship of Malaysian Industry- Government Group for High Technology (MIGHT) for Construction and Housing. He was appointed an EXCO member to the Malaysian Tourism Action Council by the Minister of Tourism Malaysia. In recognition of his outstanding contribution to education,the Minister of Education appointed him to the Higher Education Council in 1998. He was also conferred Honorary Doctorates by eight leading universities worldwide and was voted the Property Man of the Year (Malaysia) 1993 as well as the CEO of the Year (Malaysia) 1996. Appointed to the Board of SunCity on 1 July 1992 and also serves as a Member of the Employees’ Share Option Scheme, Nomination and Remuneration Committees. Current directorships in other public companies include The Federation of Public Listed Companies,Sunway Holdings Incorporated Berhad and Sunway Construction Berhad. Attended all of the 6 Board Meetings held in the financial year. Dato’ Razman M Hashim - Executive Deputy Chairman Dato’ Razman M Hashim,Malaysian,aged 63,is a member of the Australian Institute of Bankers. He has more than 34 years of experience in the banking industry. He joined the Standard Chartered Bank Malaysia Berhad in 1964 and served in various capacities including secondments to the Bank’s branches in London, Europe, Hong Kong and Singapore. In 1994,he was appointed as Executive Director/Deputy Chief Executive of the Standard Chartered Bank Malaysia Berhad. Appointed to the Board of SunCity on 28 March 1996 and also serves as a Member of the Employees’ Share Option Scheme Committee. Current directorships in other public companies include MUI Continental Insurance Berhad,Ranhill Berhad and Multi-Purpose Holdings Berhad. Attended all of the 6 Board Meetings held in the financial year.