Notes to the Financial Statements - Swissco Holdings Limited

More documents

Recommendations

Info

Contents 01 Corporate Profile 02 Our Services 04 Financial Highlights 05 Financial Summary 06 Chairman’s Statement 08 Our Milestones 10 Snapshot of our Fleet 11 Fleet Composition 12 Operations Review 14 Group Structure 16 Board of Directors 18 Key Management 20 Corporate Information 21 Corporate Governance Report 29 Directors’ Report 35 Statement by Directors 36 Independent Auditor’s Report 37 Consolidated Statement of Comprehensive Income 38 Balance Sheets 39 Consolidated Statement of Changes in Equity 40 Consolidated Cash Flow Statement 41 Notes to the Financial Statements 85 Statistics of Shareholdings 87 Notice of Sixth Annual General Meeting Our Philosophy To provide clients with the most comprehensive service to meet all their needs for marine support logistics...
Corporate Profile Swissco International Limited is a Singapore-based marine service provider for the shipping and offshore Oil and Gas industries. With vessel deployment spanning from Indonesia, Malaysia, Vietnam and Thailand – even as far as East Africa, Japan and Russia – our Group is renowned for providing complete marine and shipping solutions to a wide variety of customers. Our Group owns and operates a young fleet of offshore support vessels, tugs, barges and OPL boats. Our facilities also include a private waterfront facility that handles logistics and warehousing in Singapore; a ship repair yard with a 3,000 DWT and two slipways which has the capacity to provide dry dock and afloat repairs for small to mid-sized support vessels. Our customers include: • Companies in the oil and gas, shipping and other marine infrastructure industries, who charter our offshore support vessels to cater to a variety of our clients’ offshore needs. • Seismic surveyors, dredging and civil marine contractors who charter our vessels to carry out support work in their respective fields. • Local and international ship owners and their local handling agents who charter our OPL boats to transport stores, equipment, provisions and crew to vessels passing Singapore at OPL. Our Strengths • Young, modern and a good mix fleet of offshore support vessels with average age of 2 years to enable us to serve the higher value-added sector of the industry; • Pioneers in the OPL business – we are reputed and well positioned to expand our customer base and to seize new business opportunities that arise; • Well-established relations with our suppliers, customers and shipyards; • Ability to retain and secure new customers by offering competitively-priced value-added services to customers, such as the use of our private wharf facility, material handling equipment, machinery and warehouse; • With two slipways, waterfront and a 3,000 DWT docking yard, this business segment has the capability to carry out dry docking and afloat repairs for a niche market of small to mid-sized vessels. Repair work includes retrofitting, renewal works, blasting and painting, electrical and electronic works and mechanical works for our customers; • Dedicated, competent and experienced management team led by our Executive Chairman, Mr Yeo Chong Lin who has been in the marine logistics business since 1972. He is well supported by Mr Alex Yeo Kian Teong, Chief Executive Officer who has more than 17 years of experience and expertise in the industry. 0 Annual Report 2009 Swissco International Limited
Page 1: Swissco International Limited Steer
Page 5 and 6: Ship Repair and Maintenance Small t
Page 7 and 8: Financial Summary FY2009 FY2008 FY2
Page 9 and 10: Chairman’s Statement Dividend The
Page 11 and 12: ENTRY INTO ACCOMMODATION WORK BOAT
Page 13 and 14: Fleet Composition Our fleet has gro
Page 15 and 16: Operations Review Our vessels AHT B
Page 17 and 18: SW Marine (M) Sdn Bhd 49% PT Swissc
Page 19 and 20: Board of Directors Mr Phillip Chan
Page 21 and 22: Key Management Mr Sam Kwai Hoong Ch
Page 23 and 24: Corporate Governance Report Swissco
Page 25 and 26: Corporate Governance Report The NC
Page 27 and 28: Corporate Governance Report Executi
Page 29 and 30: Corporate Governance Report The Aud
Page 31 and 32: Directors' Report For the financial
Page 37 and 38: Statement by Directors For the fina
Page 39 and 40: Consolidated Statement of Comprehen
Page 41 and 42: Consolidated Statement of Changes i
Page 43 and 44: Notes to the Financial Statements F
Page 53 and 54:
Notes to the Financial Statements F
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Statistics of Shareholdings As at 1
Page 89 and 90:
Notice of Sixth Annual General Meet
Page 91 and 92:
Notice of Sixth Annual General Meet
Page 93 and 94:
NOTES 1. A member entitled to atten
show all

Notes to the Financial Statements - Swissco Holdings Limited

Create successful ePaper yourself

Delete template?

Save as template?