UOB Annual Report 2002 - United Overseas Bank

More documents

Recommendations

Info

Notes to the Financial Statements for the financial year ended 31 December 2002 47 Major Associates Country of Incorporation Effective Interest Principal Activities and Business Held by the Group 2002 2001 % % Associates (Quoted) United International Securities Limited Investment Singapore 42 42 United Overseas Land Limited Property/hotel Singapore 45 45 UOB-Kay Hian Holdings Limited Stockbroking Singapore 40 39 Haw Par Corporation Limited (divested during the year) Conglomerate Singapore * 42 Associates (Unquoted) Ace Net Financial Services Pte Ltd Automated teller machine services Singapore 50 50 Affin-UOB Securities Sdn Bhd Stockbroking Malaysia 45 45 Asfinco Singapore Limited Investment holding Singapore 40 39 Clearing and Payment Services Pte Ltd Continuous linked settlement Singapore 33 33 Network for Electronic Transfers (Singapore) Pte Ltd Electronic funds transfer Singapore 33 40 Novena Square Development Pte Ltd Property Singapore 20 20 Novena Square Investment Pte Ltd Investment Singapore 20 20 Orix Leasing Singapore Limited Leasing/rental Singapore 20 20 OSK-UOB Unit Trust Management Berhad Investment management Malaysia 30 30 OUB Manulife Pte Ltd Life insurance Singapore – 50 # OUB Optimix Funds Management Limited Unit trust fund management Singapore – 50 Overseas Union Insurance, Limited General insurance Singapore 50 48 PT Bali Walden UOB Venture Capital Venture capital (under voluntary liquidation) investment Indonesia 20 20 Singapore Consortium Investment Unit trust Management Ltd fund management Singapore 33 40 Tower-Ed Sdn Bhd General and life insurance Malaysia 49 – # UOB Investment Consultancy (Beijing) Limited [formerly known as UOB Centek Technology Consultancy and People’s Republic (Beijing) Investment Consulting Co., Ltd] research services of China – 50 UOB Venture Investments Limited Venture capital investment Singapore 21 21 Vertex Asia Limited Investment Singapore 21 21 Walden Asia II Limited Venture capital investment United States of America 25 25 Notes: * The Group’s interest in this company was divested during the year [Note 19(c)] and the investment has accordingly been classified in investment securities (Note 30). # This company was a subsidiary at 31 December 2002 (see Note 46). 48 Authorisation of Financial Statements On 28 February 2003, the Board of Directors of United Overseas Bank Limited authorised these financial statements for issue. The Auditors’ Report is on page 90. 168
Investor Reference Financial Highlights 7 Group Financial Review 62 Subsidiaries 162 Major Associates 168 11-Year Group Financial Summary (S$ & US$) 170 11-Year Bank Financial Summary (S$ & US$) 172 UOB Share Price and Turnover 174 Statistics of Shareholdings 175 Changes in Share Capital 177 Notice of Annual General Meeting 184 United for Growth
Page 1 and 2:
ANNUAL REPORT 2002 United for Growt
Page 3 and 4:
Our Mission To be a premier bank in
Page 5 and 6:
Performance in Brief Profit For The
Page 7 and 8:
Profit growth was derived mainly fr
Page 9 and 10:
Financial Highlights Group Assets 2
Page 11 and 12:
Group Return On Average Shareholder
Page 13 and 14:
Corporate Information Honorary Life
Page 15 and 16:
Left to right: Koh Beng Seng, Ngiam
Page 17 and 18:
Left to right: Tan Kok Quan, Prof L
Page 19 and 20:
Mr Francis Lee Chin Yong Managing D
Page 21 and 22:
The Bank has a budget for directors
Page 23 and 24:
independent and non-executive direc
Page 25 and 26:
work of each of the banking subsidi
Page 27 and 28:
Risk Management Credit and Country
Page 29 and 30:
The composition of loans and advanc
Page 31 and 32:
Group Non-Performing Loans (NPLs) a
Page 33 and 34:
Group NPLs and Cumulative Provision
Page 35 and 36:
Group Specific Provision by Region
Page 37 and 38:
Collateral Types The majority of th
Page 39 and 40:
Exposure to the Five Regional Count
Page 41 and 42:
Cross-Border Exposure to the Five R
Page 43 and 44:
Complementing the static analysis i
Page 45 and 46:
Sources of Deposits The Group has a
Page 47 and 48:
The VaR calculations are performed
Page 49 and 50:
Group Daily VaR Distribution for 20
Page 51 and 52:
As part of the Group's comprehensiv
Page 53 and 54:
The celebratory light-up linking UO
Page 55 and 56:
services so as to meet the increasi
Page 57 and 58:
Our subsidiary, UOB Asset Managemen
Page 59 and 60:
Grow our services In line with the
Page 61 and 62:
exercise, achieved well ahead of th
Page 63 and 64:
processes in place that will suppor
Page 65 and 66:
Group Financial Review Review of Fi
Page 67 and 68:
Group Profits The Group achieved a
Page 69 and 70:
Analysis of Changes in Net Interest
Page 71 and 72:
Cost Savings from Integration The G
Page 73 and 74:
Overview of Balance Sheet Assets Mi
Page 75 and 76:
Gross Customer Loans Analysed by Cu
Page 77 and 78:
Capital Adequacy Ratios The Capital
Page 79 and 80:
Directors’ Report for the financi
Page 81 and 82:
In addition, the following subsidia
Page 83 and 84:
Arrangements to Enable Directors to
Page 85 and 86:
Ability to Meet Obligations No cont
Page 87 and 88:
Share Options of the Bank (a) From
Page 89 and 90:
(d) (e) (f) No options have been gr
Page 91 and 92:
Statement by Directors for the fina
Page 93 and 94:
Income Statements for the financial
Page 95 and 96:
The Group The Bank Note 2002 2001 2
Page 97 and 98:
The Group 2001 Non- Share of Share
Page 99 and 100:
The Bank 2001 Non- Share Share Dist
Page 101 and 102:
Notes to the Financial Statements f
Page 103 and 104:
(e) Investments (i) Singapore Gover
Page 105 and 106:
(k) Derivative Financial Instrument
Page 107 and 108:
4 Interest Expense The Group The Ba
Page 109 and 110:
(c) Equity Compensation Benefits Op
Page 111 and 112:
11 Directors’ Fees and Other Remu
Page 113 and 114:
14 Tax (a) The tax charge to the in
Page 115 and 116:
2002 2001 Fair Value of Depreciable
Page 117 and 118:
Deferred tax assets and liabilities
Page 119 and 120: 18 Non-Distributable Reserves (a) T
Page 121 and 122: 19 Revenue Reserves (a) The Group 2
Page 123 and 124: (c) The interim dividend paid in sp
Page 125 and 126: 23 Debts Issued The Group The Bank
Page 127 and 128: (b) Included in other government tr
Page 129 and 130: (c) Total gross trade bills and adv
Page 131 and 132: 29 Other Assets The Group The Bank
Page 133 and 134: 32 Investments in Subsidiaries (a)
Page 135 and 136: 33 Movements in the Provisions for
Page 137 and 138: 34 Fixed Assets (a) The Group 2002
Page 139 and 140: (e) Certain freehold and leasehold
Page 141 and 142: 39 Derivative Financial Instruments
Page 143 and 144: (c) Derivative financial instrument
Page 145 and 146: The Group - 2001 Individual Institu
Page 147 and 148: (b) Secondary Reporting Format - Ge
Page 149 and 150: Discussions on the main financial r
Page 151 and 152: The Group - 2002 Hong Singapore US
Page 153 and 154: Other foreign exchange exposures of
Page 155 and 156: The Group - 2002 Non- Over 7 Over O
Page 157 and 158: The Group - 2001 Non- Over 7 Over O
Page 159 and 160: The Group - 2002 Over 7 Over Over O
Page 161 and 162: The Group - 2001 Over 7 Over Over O
Page 163 and 164: Where quoted and observable market
Page 165 and 166: Percentage of Paid-Up Capital Held
Page 167 and 168: Percentage of Paid-Up Capital Held
Page 169: Percentage of Paid-Up Capital Held
Page 173 and 174: 1998 1997 1996 1995 1994 1993 1992
Page 175 and 176: 1998 1997 1996 1995 1994 1993 1992
Page 177 and 178: Statistics of Shareholdings as at 1
Page 179 and 180: Changes in Share Capital The follow
Page 181 and 182: Our International Network Banking S
Page 183 and 184: United Overseas Bank (Malaysia) Bhd
Page 185 and 186: UOB Venture Management (Shanghai) C
Page 187 and 188: Notes to Resolutions 4, 6, 7, 8, 9,
Page 189: Notes: 1 Please insert the number o
show all

UOB Annual Report 2002 - United Overseas Bank

Create successful ePaper yourself

Delete template?

Save as template?