Annual Report 2005 - Leeden Limited

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28Notes to the Financial Statements- 31 December 2005ACE DYNAMICS LIMITED1. Corporate informationThe fi nancial statements and consolidated fi nancial statements of Ace Dynamics Limited (the “Company”) for the year ended 31December 2005 were authorised for issue in accordance with a resolution of the Directors on 31 March 2006. The Company is alimited liability company, which is domiciled and incorporated in the Republic of Singapore. The registered offi ce of Ace DynamicsLimited is located at 1 Shipyard Road, Singapore 628128.The principal activities of the Company are those of an investment holding company and the provision of management and administrativeservices to the Group. The principal activities of the subsidiary companies include :(a) distribution of industrial equipment, hardware and safety products;(b) property investment/development; and(c) manufacturing of compact discs.There have been no signifi cant changes in the nature of these activities during the fi nancial year.The subsidiary and associated companies as at 31 December 2005 are :Name of company(Country of Principal activities Percentage of equityincorporation) (place of business) Cost held by the Group2005 2004 2005 2004$’000 $’000 % %Subsidiary companies :Held by the Company^ Uniweld Holdings Pte Ltd Investment holding and 9,4011 4,554 100 100(Singapore)leasing of property(Singapore)^ American Dynamics Provision of management 6,290 6,290 100 100Holdings Pte Ltdservices (Singapore)(Singapore)^ Green Aces Development Pte Ltd Investment holding and 2,219 2,219 100 100(Singapore)property development(Singapore)^ AceD Development Pte Ltd Provision of management services 100 100 100 100(Singapore)(Singapore)^ Omnidisc Manufacturing Pte Ltd Manufacturers of compact disc 6,772 6,772 100 100(Singapore)(Singapore)24,782 19,935ANNUAL REPORT 2005
Notes to the Financial Statements- 31 December 2005291. Corporate information (cont’d)Name of company(Country of Principal activities Percentage of equityincorporation) (place of business) held by the Group2005 2004% %Held through subsidiary companiesSubsidiary companies ofAmerican DynamicsHoldings Pte LtdACE DYNAMICS LIMITED^ American Dynamics Pte Ltd Distribution of industrial 100 100(Singapore)equipment and hardware(Singapore)^ AD Safety Pte Ltd Distribution of safety products 100 100(Singapore)(Singapore)^ Blue Power Corporation Pte Ltd Distribution of industrial products 100 100(Singapore)(Singapore)* Uniweld Malaysia Sdn Bhd Distribution of industrial equipment, 100 100(Malaysia)hardware and safety products(Malaysia)** Red Wing Shoe Shop Sdn Bhd Distribution of safety shoes and 100 100(Malaysia)related products(Malaysia)** Dynamic AD Industries Sdn Bhd Distribution of industrial products 100 100(Malaysia)(Malaysia)*** Supermizer (Hong Kong) Ltd Distribution of safety products and – 2 100(Hong Kong)provision of management services(Hong Kong)< Blue Power Products, Inc. Dormant 100 100(United States of America)(United States of America)@ PT Mako Jaya Dormant 100 100(Indonesia)(Indonesia)Subsidiary company ofUniweld Holdings Pte Ltd^ Latene International Pte Ltd Distribution of industrial products 100 100(previously known as Greenline(Singapore)Enterprise Pte Ltd)(Singapore)Subsidiary company ofGreen Aces Development Pte Ltd^ Calarasi Pte Ltd Property investment and development 1003 50(Singapore)(Singapore)ANNUAL REPORT 2005
Page 2 and 3: 2ACE DYNAMICS LIMITED1 Mission, Vis
Page 4: 2ACE DYNAMICS LIMITEDMessage fromCh
Page 7 and 8: 5ACE DYNAMICS LIMITEDFinance cost w
Page 9 and 10: 7ACE DYNAMICS LIMITEDby 11% to $9.3
Page 11 and 12: 9Mr Tony Chan was appointed as a No
Page 13 and 14: Corporate Governance Report11Ace Dy
Page 15 and 16: Corporate Governance Report13BOARD
Page 17 and 18: Corporate Governance Report15Princi
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
Page 27 and 28: Statements of Changes in Equityfor
Page 29: Consolidated Statement of Cash Flow
Page 33 and 34: Notes to the Financial Statements-
Page 49 and 50: 47Notes to the Financial Statements
Page 69 and 70: Shareholding StatisticsAs at 20 Mar
Page 71 and 72: 69ACE DYNAMICS LIMITED(Company Regi
Page 73 and 74: ACE DYNAMICS LIMITED[Company Regist
Page 75: ACE DYNAMICS LIMITED1 Shipyard Road

Annual Report 2005 - Leeden Limited

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