Annual Report 2005 - Leeden Limited

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2ACE DYNAMICS LIMITED1 Mission, Vision & Corporate Profile2 Message from Chairman & CEO4 Review of Operations8 Board of Directors & Directors’ Profile9 Key Management Profile10 Corporate Information11 Corporate Governance Report17 Report of the Directors21 Statement by Directors22 Auditors’ Report23 Consolidated Profit and Loss Account24 Balance Sheets25 Statements of Changes in Equity26 Consolidated Statement of Cash FlowsANNUAL REPORT 200528 Notes to the Financial Statements67 Shareholding Statistics69 Notice of Annual General MeetingProxy Form
1ACE DYNAMICS LIMITEDOur MissionOur main core business is to provide welding application solutions & related services to our customers.This includes the supply of welding, safety products and industrial gases.Our VisionWe aim to be the preferred Partner for welding and gas applications in the region.Corporate ProfileAce Dynamics Limited (the Group) was incorporated in 1964. Over the years the Group operates generally as a distributor of welding andsafety products and the manufacture and distribution of industrial gases through an associated company, National Industrial Gases PteLtd (NIG). NIG is a joint venture company between the Group and National Oxygen Pte Ltd, which is a subsidiary of Taiyo Nippon SansoCorporation - the largest gas company in Japan.The businesses of the Group are diversifi ed and comprise the distribution of welding and safety products including supply of industrialgases, property development and multi-media. However, since 2004 when management gained control of the Group, emphasis wasplaced on strengthening and expanding the industrial division which has been the major contributor of sales and profi ts to the Group. Thestrategic move enabled the Group to capitalize on the buoyant oil and gas and marine sectors to establish a sustainable growth path.The Group’s industrial business lies in the area of providing welding application solutions and related services to customers. This includesthe supply of welding and safety products and industrial gases. Although the Group already handles a wide range of products underestablished brands in the market place, it will continue to introduce new and innovative products to customers to strengthen its positionas a leader in the welding, safety and gas businesses.The Group’s customers include major oil and gas, construction and manufacturing companies, shipbuilding and ship repair yards, steeland industrial pipeline fabricators, renowned medical and educational institutions from across the Asean region.Today, the Group is in a leading position to assist customers with complete solutions from planning to fruition of welding works includingselection of equipments, industrial safety (personal and workplace) and environmental protection programs complete with supply andinstallation of industrial gas systems.ANNUAL REPORT 2005
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Page 11 and 12: 9Mr Tony Chan was appointed as a No
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Page 15 and 16: Corporate Governance Report13BOARD
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Page 19 and 20: 17Report of the DirectorsThe Direct
Page 21 and 22: 19Report of the DirectorsDirectors
Page 23 and 24: Statement by Directors Pursuant to
Page 25 and 26: Consolidated Profit and Loss Accoun
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Page 29 and 30: Consolidated Statement of Cash Flow
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Shareholding StatisticsAs at 20 Mar
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69ACE DYNAMICS LIMITED(Company Regi
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ACE DYNAMICS LIMITED[Company Regist
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ACE DYNAMICS LIMITED1 Shipyard Road
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Annual Report 2005 - Leeden Limited

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