notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
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