notes to the financial statements - Investor Relations

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CWT Limited 44 DIRECTORS’ REPORT YEAR ENDED 31 DECEMBER 2011 We are pleased to submit this annual report to the members of the Company together with the audited financial statements for the financial year ended 31 December 2011. DIRECTORS The directors in office at the date of this report are as follows: Loi Kai Meng (Chairman) Liao Chung Lik Loi Pok Yen Jimmy Yim Wing Kuen Tan Wee Liang Hu Jian Ping DIRECTORS’ INTERESTS According to the register kept by the Company for the purposes of Section 164 of the Companies Act, Chapter 50 (the Act), particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in shares in the Company and in related corporations are as follows: Name of director and corporation in which interests are held CWT Limited Ordinary shares Holdings registered in the name of director or nominee At 1/1/2011 At 31/12/2011 At 21/1/2012 At 1/1/2011 Holdings in which director is deemed to have an interest At 31/12/2011 At 21/1/2012 Loi Kai Meng 64,800,000 67,000,000 67,000,000 223,180,000 223,630,000 223,630,000 Liao Chung Lik 16,301,000 16,301,000 16,301,000 19,581,000 19,581,000 19,581,000 Loi Pok Yen 13,800,000 14,100,000 14,100,000 16,100,000 16,100,000 16,100,000 Jimmy Yim Wing Kuen 1,089,000 1,089,000 1,089,000 – – – C & P Holdings Pte Ltd Ordinary shares Loi Kai Meng – – – 2,790,551 2,790,551 2,790,551 Liao Chung Lik – – – 3,331,735 3,331,735 3,331,735 Except as disclosed in this report, no director who held office at the end of the financial year had interests in shares of the Company, or of related corporations, either at the beginning or at the end of the financial year.
DIRECTORS’ REPORT YEAR ENDED 31 DECEMBER 2011 Annual Report 2011 Neither at the end of, nor at any time during the financial year, was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate. During the financial year, the Company paid professional fees amounting to $124,903 to a firm in which a director of the Company, Jimmy Yim Wing Kuen, is a member. However, the director has neither received nor become entitled to receive benefits arising out of these transactions other than those which he is ordinarily entitled to as a member of the professional firm. Except for the above and salaries, bonuses and fees and those benefits disclosed in Note 36 to the financial statements, since the end of the last financial year, no director has received or become entitled to receive, a benefit by reason of a contract made by the Company or a related corporation with the director, or with a firm of which he is a member, or with a company in which he has a substantial financial interest. SHARE OPTIONS During the financial year, there were: (i) no options granted by the Company or its subsidiaries to any person to take up unissued shares in the Company or its subsidiaries; and (ii) no shares issued by virtue of any exercise of option to take up unissued shares of the Company or its subsidiaries. As at the end of the financial year, there were no unissued shares of the Company or its subsidiaries under option. AUDIT COMMITTEE The members of the Audit Committee at the date of this report are: Jimmy Yim Wing Kuen (Chairman) Liao Chung Lik Tan Wee Liang The Audit Committee performs the functions specified by section 201B of the Companies Act, the SGX Listing Manual, the Code of Corporate Governance and the Best Practices Guide of the Singapore Exchange. The Audit Committee has held 4 meetings since the last directors’ report. In performing its functions, the Audit Committee met with the Company’s external and internal auditors to discuss the scope of their work, the results of their examination and evaluation of the Company’s internal accounting control system. 45
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 and 34: Investor Relations We regularly eng
Page 35 and 36: CORPORATE GOVERNANCE Annual Report
Page 45: CORPORATE GOVERNANCE Annual Report
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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