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notes to the financial statements - Investor Relations

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currently building a new warehouse in Port Klang.<br />

Today, CWT has offices and warehouses (owned<br />

or managed) in close <strong>to</strong> 50 countries and is able <strong>to</strong><br />

seamlessly connect cus<strong>to</strong>mers <strong>to</strong> 120 direct ports<br />

and over 1,200 inland destinations through its<br />

global network.<br />

Working <strong>to</strong>wards sustainable development<br />

CWT’s value is more than <strong>the</strong> sum of its parts.<br />

We are mindful of what we have achieved and<br />

that <strong>the</strong> way forward is through sustainable<br />

development, so we will continue <strong>to</strong> invest in<br />

growth, scale up operations, streng<strong>the</strong>n resources,<br />

enhance capabilities and commit <strong>to</strong> corporate<br />

responsibility. We will continue <strong>to</strong> maintain a<br />

balanced risk profile and take a long-term view of<br />

maximising shareholder value. We will continue<br />

<strong>to</strong> develop CWT in accordance with <strong>the</strong> principles<br />

of good corporate governance. We view it <strong>to</strong> be<br />

<strong>the</strong> foundation upon which we build our leadership<br />

culture and reputation for integrity, which in turn<br />

provides inves<strong>to</strong>rs with competitive returns over<br />

<strong>the</strong> long term.<br />

Rewarding our shareholders<br />

Loi Kai Meng<br />

CWT Group Chairman<br />

Our continued focus <strong>to</strong> invest in growth has<br />

yielded good returns for our inves<strong>to</strong>rs. I am<br />

pleased <strong>to</strong> report that <strong>the</strong> Board of Direc<strong>to</strong>rs has<br />

recommended a shareholders’ dividend payment<br />

of 2.5 Singapore cents per share. This will amount<br />

<strong>to</strong> a <strong>to</strong>tal of S$15 million, payable on 22 May 2012<br />

and subject <strong>to</strong> shareholders’ approval at <strong>the</strong> next<br />

Annual General Meeting.<br />

Winning awards<br />

I also take pride in sharing with you a couple of<br />

award wins in 2011 which clearly reflects our<br />

continued growth momentum. CWT was ranked<br />

in Forbes Asia’s ‘Best Under A Billion’ and also<br />

named ‘2011 Singapore Domestic Logistics<br />

Service Provider of <strong>the</strong> Year’ by independent<br />

market research firm Frost & Sullivan. I am<br />

encouraged by this double vote of confidence.<br />

CWT will continue <strong>to</strong> persevere, innovate and raise<br />

<strong>the</strong> bar.<br />

A word of thanks<br />

In closing, I wish <strong>to</strong> thank all our cus<strong>to</strong>mers,<br />

shareholders, business associates and bankers<br />

for <strong>the</strong>ir support and also <strong>to</strong> our employees, here<br />

and worldwide, for <strong>the</strong>ir good efforts put in <strong>the</strong> past<br />

year. Toge<strong>the</strong>r, we look forward <strong>to</strong> an even better<br />

year ahead.<br />

Loi Kai Meng<br />

Chairman<br />

30 March 2012<br />

Annual Report 2011<br />

09

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