notes to the financial statements - Investor Relations

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CWT Limited EXECUTIVE TEAM Loi Pok Yen Group CEO Mr Loi was appointed Group CEO in January 2005. He is also a Director of the Board. With his extensive experience in strategic and logistics business management, Mr Loi leads the Executive Team in strengthening the Group’s businesses and competitiveness for the long-term success of the CWT Group. Mr Loi graduated from the National University of Singapore with a Bachelor of Business Administration (Honours) degree. Lynda Goh Deputy Group CEO & Group CFO Mrs Goh has been with the Company for more than 20 years holding various senior positions. As Deputy Group CEO & Group CFO, her key role is to assist the Group CEO in the corporate development and strategic expansion, corporate finance and general management of the CWT Group of companies. Mrs Goh is also responsible for managing the Group’s engineering business, investments, treasury, financial, human resource and corporate affairs. Mrs Goh is a Certified Public Accountant and Fellow of Chartered Certified Accountant (UK). Tan Choon Wei CEO, Freight Logistics Business & Executive Chairman of CWT Globelink Pte Ltd Mr Tan has been with the Company since 1988. Prior to his appointment as CEO, Freight Logistics Business of CWT in January 2005, Mr Tan held various senior positions in the Group. He led the Company’s regional development in the past 20 years and was appointed as Executive Chairman of CWT Globelink Group since January 2002, overseeing the freight consolidation business of the CWT Group. Adam Slater CEO, Commodity Logistics Business & Managing Director of CWT Commodities Pte Ltd Mr Slater has more than 14 years of experience in the commodities logistics industry. As CEO of Commodity Logistics Business, he spearheads the development and expansion, in depth and breadth, of the commodity logistics business of the CWT Group which consists of LME, soft commodities and collateral management across Asia and Europe. Prior to joining the commodities logistics industry, he worked as a metal trader in China for 5 years. He has a Bachelor of Art in East Asian Studies from McGill University and also studied Chinese language at Fudan University. Mark Lowe CEO, Commodity Marketing & Supply Chain Management Mr Lowe was appointed CEO, Commodity Marketing & Supply Chain Management in July 2011 and heads up MRI Trading AG and Capsolon Pte Ltd, the holding company for MRI Trading AG. As the commodities marketing and supply chain management arm of the CWT Group of businesses, the division is actively marketing physical non-ferrous metals, bulk minerals and gas oil. Mr Lowe is an industry veteran with over 25 years of experience in commodities trading. Prior to joining CWT, he held senior positions with Louis Dreyfus Commodities and Trafigura. Jeremy Ang CEO, Financial Services Business Mr Ang was appointed CEO, Financial Services Business in April 2011. He heads up Straits Financial Group, the financial services arm of the CWT Group engaged in the offering of futures and derivatives trade, forex, bullion and over-the-counter (OTC) brokerage services. Mr Ang is an industry veteran, especially in the global derivatives market, with over 26 years of experience in the futures industry. Prior to joining CWT, he held leadership positions with the Singapore Exchange (SGX), Singapore Commodity Exchange (SICOM), DBS Vickers Securities (Singapore) and the REFCO Group. Martin Versteeg CEO, CWT Europe B.V. Mr Versteeg has more than 37 years of experience in the soft commodities logistics industry. As CEO of CWT Europe B.V., he is responsible for the development and expansion of the Group’s logistics business in Europe and Africa. Mr Versteeg is a board member of Corporate and Private Banking of Rabobank Amsterdam, the European Cocoa Association in Brussels and the European Warehouse Keepers Federation in Amsterdam. He holds a Masters degree in law from VU University of Amsterdam. In 2009, Mr Versteeg was also awarded the prestigious Amsterdam Ports Medal by the Amsterdam Ports Association in recognition of his significant contribution towards strengthening and reinforcing the prestige of Amsterdam ports.
Eric Herman CEO, Contract Logistics & Business Development Mr Herman has over 17 years of experience in the logistics industry. Prior to joining CWT, he was employed by AP Moller Maersk in various senior positions in the United States, Latin America and across Asia, where he optimised supply chain solutions for multinational companies. As CEO of Contract Logistics & Business Development, Mr Herman’s key role is to develop/expand valueadding global contract logistics business, including forming and implementing strategies for creating synergies and expanding capabilities. Foo Say Chuang Managing Director, Warehousing & Business Development Mr Foo has more than 28 years of logistics experience in local and multinational corporations. As Managing Director of Warehousing & Business Development, he is responsible for the development and expansion of the Group’s logistics business in Singapore and the regional market, including Russia, India, Ukraine, Malaysia and Thailand. He has a Bachelor of Business in Transport from the Royal Melbourne Institute of Technology, a Diploma in Shipping Management (Maritime Studies) and a Diploma in Sales & Marketing. Kay Kong Swan CEO, Container & Steel Logistics Business & Managing Director of OCWS Logistics Pte Ltd Mr Kay has more than 26 years of engineering and logistics experience of which the last 16 years were spent holding key positions in OCWS Logistics. He is responsible for the Group’s Container Logistics business and Steel Logistics business. Prior to working in the logistics industry, Mr Kay was also involved in management consultancy and business development. He has a Master’s degree in Business Analysis (with distinction) from the University of Lancaster, UK. Leaw Tiew San Managing Director (SEA), Contract Logistics Business Mr Leaw has more than 12 years of experience in the logistics business and over 15 years of experience in Sales & Marketing. He heads up the Chemicals Logistics, Cold Chain Logistics, Bonded Logistics, Industrial & Consumer Logistics and also Conventional Transportation for contract logistics business in Southeast Asia. Daniel Tok Deputy CEO, Freight Logistics Business As the Freight Logistics Group Deputy CEO, Mr Tok oversees the freight logistics group operations and keeps the organisation energised on a dayto-day, tactical basis. As part of the collaborative leadership team, his key role includes the formulation and implementation of key business strategies to realise group synergies. Mr Tok brings to the group close to 30 years of experience in the freight industry. Ong Yan Wah Oliver Managing Director, Infrastructure Development Mr Ong has more than 15 years of experience in the construction and property management sector. As Managing Director of Infrastructure Development, he is responsible for the development and expansion of the Group’s logistics infrastructure facilities in Singapore and the regional market, including China, Vietnam, Ukraine and Malaysia. Mr Ong has overseen and completed all the major developments of the Group’s various logistics facilities over the last 6 years. He graduated from the National University of Singapore with a Bachelor of Business Administration degree. Annual Report 2011 13
Page 1 and 2: CWT Limited Annual Report 2011 Annu
Page 3 and 4: ABOUT THE CWT GROUP VISION To Be A
Page 5 and 6: GROUP FIVE-YEAR FINANCIAL SUMMARY F
Page 7: Largest warehouse operator in Singa
Page 10 and 11: CWT Limited CHAIRMAN’S STATEMENT
Page 12 and 13: CWT Limited BOARD OF DIRECTORS Loi
Page 17 and 18: ELEVATION Rising through resilience
Page 19 and 20: COMMODITY SUPPLY CHAIN MANAGEMENT C
Page 21: MIDDLE EAST Kuwait Kuwait UK Estoni
Page 24 and 25: CWT Limited OPERATIONS REVIEW “Am
Page 26 and 27: CWT Limited OPERATIONS REVIEW 1. Br
Page 29 and 30: CHARACTER Our identity and performa
Page 31 and 32: EHS activities and related awards E
Page 33 and 34: Investor Relations We regularly eng
Page 35 and 36: CORPORATE GOVERNANCE Annual Report
Page 47 and 48: DIRECTORS’ REPORT YEAR ENDED 31 D
Page 49 and 50: STATEMENT BY DIRECTORS YEAR ENDED 3
Page 51 and 52: STATEMENT OF FINANCIAL POSITION AS
Page 53 and 54: Annual Report 2011 CONSOLIDATED STA
Page 55 and 56: CONSOLIDATED STATEMENT OF CHANGES I
Page 57 and 58: CONSOLIDATED STATEMENT OF CHANGES I
Page 59 and 60: CONSOLIDATED STATEMENT OF CASH FLOW
Page 61 and 62: NOTES TO THE FINANCIAL STATEMENTS Y
Page 63 and 64: NOTES TO THE FINANCIAL STATEMENTS Y
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NOTES TO THE FINANCIAL STATEMENTS Y
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STATISTICS OF SHAREHOLDINGS SHAREHO
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NOTICE OF ANNUAL GENERAL MEETING An
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NOTICE OF ANNUAL GENERAL MEETING An
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CWT LIMITED (Company Registration N
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CORPORATE DIRECTORY Loi Pok Yen Gro
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