SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited
SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited
CORPORATE MILESTONES 1970 Founding of Sea Well Industrial and Ship Supply Company with a rented office at Cantonment Road, Singapore 1973 Due to increased sales and for better control of delivery of ship supplies, we acquired our first Out Port Limit (OPL) boat. 1975 Incorporated Swissco Offshore (Pte) Ltd to assume the growing operation of OPL marine logistics business. The company also moved into its own office at International Plaza, Singapore. 1980’s The Company emerged from the recession in the mid 1980’s to become one of the leading operators of OPL boat and marine logistics services. We had also discontinued our ship supply business in favour of the OPL marine logistics business. 1990 We acquired our first offshore support vessel to expand our services into the regional oil and gas industry. Soon after we also acquired our first barge as there was an increasing demand for our services. 1995 We relocated to our own waterfront yard and office at 9 Pandan Road, Singapore. The site provided us with our own base for our increasing fleet as well as fabrication and warehousing facilities. 1996 Founded PT Swisko Berjaya in Indonesia together with other partners to meet the needs of the oil and gas industry, marine infrastructure and mining industry within Indonesia. 1997 Acquired 2 additional new tugs to support the operations. 1998 Started our offshore fleet renewal with the delivery of 2 new vessels. We also acquired our repair facility at 60 Penjuru Lane, Singapore with its 3,000 DWT dry dock to venture into ship repair business. These facilities are operated by Singapore Marine Logistics Pte Ltd. 2000 Expanded our ship repair and maintenance capability with the acquisition of 58 Penjuru Lane, Singapore, with 2 slipways. This enabled us to operate more efficiently as well as offer our customers more flexibility. We incorporated Swissco Offshore Ltd to hold our foreign-flagged vessels. 2002 Incorporated Regional Marine Services Pte Ltd to engage in business of supplying ships with spares, stores and other provisions. 2003 Together with other partners, we incorporated Swisko Marine (Malaysia) Sdn Bhd and Asia Pacific Marine Ltd to cater to Malaysia’s growing oil & gas industry. 2004 On 29 January, we incorporated Swissco International Limited as a public company limited by shares. On 16 November, the Company was admitted to the Singapore Exchange Securities Trading Limited Dealing in Automated Quotation System (“SGX-SESDAQ”), bringing the Group onto the next level of growth. CONTENTS Group Structure 01 Chairman’s Statement 02 Corporate Profile 04 Our History 06 Board of Directors 08 Key Management 10 Corporate Information 11 Operations Review 13 Our Vessels 14 Financial Review 16 The listing of the shares of Swissco International Limited on the SGX-SESDAQ was sponsored by Phillip Securities Pte Ltd.
GROUP STRUCTURE 100% 100% Swissco Offshore (Pte) Ltd (“Swissco Offshore”) Singapore Marine Logistics Pte Ltd (“SML”) 100% 99.998% Swissco Offshore Ltd (“Swissco Seychelles”) Regional Marine Services Pte Ltd (“RMS”) (ceased operations) 30% 30% 33.33% 33.33% Swiber Offshore Pte Ltd (“Swiber Offshore”) PT Swisko Berjaya (“Swisko Berjaya”) Swisko Marine (Malaysia) Sdn Bhd (“Swisko Marine Malaysia”) Asia Pacific Marine Ltd (“Asia Pacific Marine”) 100% Camvale Pte Ltd (“Camvale”) ANNUAL REPORT 2004_1
- Page 1: SWISSCO SAILING THE SEAS OF SUCCESS
- Page 5 and 6: CHAIRMAN’S STATEMENT “Our Group
- Page 7 and 8: CORPORATE PROFILE Out Port Limit (O
- Page 9 and 10: OUR HISTORY our business to support
- Page 11 and 12: BOARD OF DIRECTORS Mr Yeo Chong Lin
- Page 13 and 14: CORPORATE INFORMATION BOARD OF DIRE
- Page 15 and 16: OPERATIONS REVIEW Our Group’s two
- Page 17 and 18: our vessels OUT PORT LIMIT (OPL) BO
- Page 19 and 20: CORPORATE GOVERNANCE REPORT Swissco
- Page 21 and 22: CORPORATE GOVERNANCE REPORT Interna
- Page 23 and 24: DIRECTORS’ REPORT Directors’ co
- Page 25 and 26: STATEMENT BY DIRECTORS In the opini
- Page 27 and 28: CONSOLIDATED INCOME STATEMENT FOR T
- Page 29 and 30: CONSOLIDATED STATEMENT OF CHANGES I
- Page 31 and 32: NOTES TO THE FINANCIAL STATEMENTS F
- Page 33 and 34: NOTES TO THE FINANCIAL STATEMENTS F
- Page 35 and 36: NOTES TO THE FINANCIAL STATEMENTS F
- Page 37 and 38: NOTES TO THE FINANCIAL STATEMENTS F
- Page 39 and 40: NOTES TO THE FINANCIAL STATEMENTS F
- Page 41 and 42: NOTES TO THE FINANCIAL STATEMENTS F
- Page 43 and 44: NOTES TO THE FINANCIAL STATEMENTS F
- Page 45 and 46: NOTES TO THE FINANCIAL STATEMENTS F
- Page 47 and 48: NOTES TO THE FINANCIAL STATEMENTS F
- Page 49 and 50: NOTES TO THE FINANCIAL STATEMENTS F
- Page 51 and 52: NOTES TO THE FINANCIAL STATEMENTS F
GROUP STRUCTURE<br />
<br />
100% 100%<br />
<strong>Swissco</strong> Offshore<br />
(Pte) Ltd<br />
(“<strong>Swissco</strong> Offshore”)<br />
Singapore Marine<br />
Logistics Pte Ltd<br />
(“SML”)<br />
100% 99.998%<br />
<strong>Swissco</strong> Offshore Ltd<br />
(“<strong>Swissco</strong> Seychelles”)<br />
Regional Marine<br />
Services Pte Ltd (“RMS”)<br />
(ceased operations)<br />
30% 30% 33.33% 33.33%<br />
Swiber Offshore Pte Ltd<br />
(“Swiber Offshore”)<br />
PT Swisko Berjaya<br />
(“Swisko Berjaya”)<br />
Swisko Marine (Malaysia)<br />
Sdn Bhd<br />
(“Swisko Marine Malaysia”)<br />
Asia Pacific Marine Ltd<br />
(“Asia Pacific Marine”)<br />
100%<br />
Camvale Pte Ltd<br />
(“Camvale”)<br />
ANNUAL REPORT 2004_1
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