notes to the financial statements - Investor Relations

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CWT Limited CORPORATE DATA Board of Directors Loi Kai Meng (Chairman) Liao Chung Lik Loi Pok Yen Jimmy Yim Wing Kuen Hu Jian Ping Tan Wee Liang Audit Committee Jimmy Yim Wing Kuen (Chairman) Tan Wee Liang Liao Chung Lik Nominating cum Remuneration Committee Jimmy Yim Wing Kuen (Chairman) Hu Jian Ping Loi Kai Meng Executive Council Loi Kai Meng (Chairman) Liao Chung Lik (Vice Chairman) Loi Pok Yen Lye Siew Hong - Lynda Goh Tan Choon Wei Adam Slater Eric Herman Foo Say Chuang Company Secretary Lye Siew Hong - Lynda Goh Registered Office 38 Tanjong Penjuru CWT Logistics Hub 1 Singapore 609039 Tel: 6262 6888 Fax: 6261 2373 Email: e-mail@cwtlimited.com Auditors and Reporting Accountants KPMG LLP 16 Raffles Quay #22-00 Hong Leong Building Singapore 048581 Partner in-charge of the audit: Lee Jee Cheng Philip (appointed in financial year 2010) Principal Bankers DBS Bank Ltd 6 Shenton Way DBS Building Singapore 068809 Standard Chartered Bank 8 Marina Boulevard #27-01 Marina Bay Financial Centre Tower 1 Singapore 018981 Oversea-Chinese Banking Corporation Limited 65 Chulia Street OCBC Centre Singapore 049513 United Overseas Bank Limited 80 Raffles Place UOB Plaza Singapore 048624 Solicitors Rajah & Tann LLP 9 Battery Road #25-01 Straits Trading Building Singapore 049910 Drew & Napier LLC 10 Collyer Quay #10-01 Ocean Financial Centre Singapore 049315 Share Registrar Boardroom Corporate & Advisory Services Pte Ltd 50 Raffles Place #32-01 Singapore Land Tower Singapore 048623
CORPORATE GOVERNANCE Annual Report 2011 CWT Limited (CWT or the Company) believes in having high standards of corporate governance and is committed to making sure that effective self-regulatory corporate practices exist to protect the interests of its shareholders and maximise long-term shareholder value. In its aim to achieve the best practices in corporate governance, CWT subscribes to the Proposed Revised Code of Corporate Governance (the Code) dated 22 November 2011, which forms a sound platform for supporting good governance and transparency practices. The Board is pleased to report that throughout the reporting period for the financial year ended 31 December 2011, CWT largely complied with the Code’s principles and guidelines. This statement outlines CWT’s corporate governance practices with specific reference to the principles and guidelines of the Code. BOARD MATTERS Board’s Conduct of Affairs (Principle 1) The Board charts the long-term strategic direction and oversees the business affairs of the CWT Group. It assumes responsibility for the Group’s overall strategic plans and key business initiatives, significant investments and major funding, and financial performance reviews and corporate governance practices. The Board also determines the compensation policies for Senior Management and monitors standards of performance and issue policy, both directly and through board committees, ensuring the Group’s compliance with all laws and regulations as may be relevant to the business. To support its role and assist in the execution of its responsibilities, the Board has established two board committees, namely, the Nominating cum Remuneration Committee (NRC) and the Audit Committee (AC). The terms of reference and composition of each board committee are described in the respective section on Board Membership and Audit Committee. The Board meets regularly and holds at least four meetings a year, with ad-hoc meetings being convened when circumstances require. Meetings via teleconference are permitted by the Company’s Articles of Association (the Articles). The frequency of meeting and attendance of each Director at every board and board committee meeting are hereby disclosed. No. of Board No. of Board No. of NRC No. of NRC No. of AC No. of AC Meetings Meetings Meetings Meetings Meetings Meetings Board of Directors Held Attended Held Attended Held Attended Loi Kai Meng 6 6 2 2 N.A. N.A. Liao Chung Lik 6 6 N.A. N.A. 5 5 Loi Pok Yen 6 6 N.A. N.A. N.A. N.A. Jimmy Yim Wing Kuen 6 6 2 2 5 5 Hu Jian Ping 6 4 2 2 N.A. N.A. Tan Wee Liang 6 6 N.A. N.A. 5 5 Note: N.A. denotes Not Applicable 33
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 14 and 15: CWT Limited EXECUTIVE TEAM Loi Pok
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: Investor Relations We regularly eng
Page 37 and 38: 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
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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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